Union54, Zambian startup led by Perseus Mlambo and Alessandra Martini, raises $12 million in seed funding
The round comes nearly six months after the company announced a $3-million seed round led by Tiger Global.
African Billionaires
South African billionaire Patrice Motsepe donates $2 million to flood victims
Motsepe, a billionaire businessman, offered his assistance after witnessing the devastation caused by recent floods.
Tradition and their impact on family governance
What drives the giving and philanthropy of Africa’s wealthiest usually comes from their spiritual capital.
Egyptian investor Tarek Assaad’s VC firm, Algebra Ventures, secures $15 million in funding from World Bank
Assaad is also the managing partner of Ideavelopers, where he has managed $50 million in investments since 2009.
Tanzanian billionaire Rostam Aziz to enter Kenya’s liquefied petroleum gas market
Aziz was reportedly the first Tanzanian to have a net worth of more than $1 billion, according to Forbes.
Egyptian businessman Hassan Allam’s construction firm to develop solar power plant in Egypt
With over 80 years of experience, Hassan Allam Holding is one of the largest privately held corporations in Egypt.
Botswana tycoon Ramachandran Ottapathu loses $4.1 million from stake in Choppies Enterprises
The $4.12-million decrease in his stake pushed the value of his holding well below the $20-million mark in recent times.
Strive Masiyiwa, Zimbabwe’s richest man, gains $510-million from stake in Econet Zimbabwe
The billionaire owns a majority 52.85-percent stake in Econet, Zimbabwe’s largest telecom services provider.
Led by South African businessman Fleetwood Grobler, Sasol dumps South African pipeline project
Under the leadership of Grobler, the South African energy and chemical group operates in 33 countries and employs 30,100 people globally.
Nassef Sawiris, Egypt’s richest man, is now richer than Canadian billionaires Linda Campbel and Gaye Farncombe
Sawiris’ net worth has recently risen due to a surge in the value of his industrial assets.
Kenyan businessman James Mwangi’s Equity Group signs MOU with Uganda National Oil Company
Equity Bank Uganda is one of many operating subsidiaries of Equity Group Holdings.
Controlled by Kenya’s richest men, Britam Holdings completes sale of $121-million stake in Equity Group
Munga is a non-executive director at Britam and a co-founder and former chairman of Equity Group Holdings.
Umba, an African startup led by U.S. entrepreneur Tiernan Kennedy, raises $15 million
Tiernan Kennedy founded Umba with Barry O’Mahony to provide an ecosystem of connected financial services.
South African billionaire Michiel Le Roux eyes $22 million in Capitec Bank dividends in May
The 73-year-old businessman who founded Capitec Bank owns a sizeable 11.41 percent stake in the bank.
Kenyan businessman Vimal Shah’s Bidco Africa, 25 others invest $1.6 billion in DRC
Bidco Africa is a multinational consumer goods company.
UAE’s largest bank, FAB, has withdrawn its offer for majority stake in Karim Awad’s EFG Hermes
The disclosure comes two months after the bank announced its plan to acquire a 51-percent stake in EFG Hermes Holding.