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.
African Billionaires
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UAE’s largest bank, FAB, has withdrawn its offer for majority stake in Karim Awad’s EFG Hermes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.
Mr. Price to acquire Laurence Wernars’ Studio 88 Group for $225 million
Studio 88 group is the biggest independent retailer of branded leisure, lifestyle, and sporting apparel and footwear in South Africa.
South African executive Gerrie Fourie receives salary of $6.3 million from Capitec Bank in 2022
Fourie, the current CEO of Capitec Bank, has received millions of dollars in compensation from the bank since joining the leading financial services provider in 2014.
Nigerian billionaire Abdul Samad Rabiu eyes $151.6 million in BUA Foods dividends
Rabiu and his son own 99.8 percent of the newly established food business segment.
Egyptian entrepreneur Ahmed Ashour’s Pylon raises $19-million seed round
Pylon was developed with the goal of addressing the $400 billion in losses and uncollected revenue in the distribution of energy and water.
South African billionaire Michiel Le Roux’s Capitec Bank posts earnings of over $570 million in 2022
Capitec Bank was founded 20 years ago by Le Roux and leading businessmen Jannie Mouton and Riaan Stassen.