U.S. resort firm, Vail, acquires majority stake in Swiss resort firm linked to Egyptian billionaire Samih Sawiris
Switzerland-based mountain resort company, ASA is majority-owned by Samih Sawiris.
African Billionaires
South African financial services group, Absa Group, appoints Arrie Rautenbach as CEO
Rautenbach has been with Absa since 1997.
Nigerian billionaire Abdul Samad Rabiu’s BUA Cement posts all-time record profit in 2021
BUA Cement operates with a combined installed capacity of 8 million tonnes per annum.
Moroccan businesswoman Lamia Tazi loses $7.1 million from stake in pharmaceutical company, Sothema
Sothema has grown into a leading pharmaceutical company in Africa and the Middle East.
Egyptian founder Mostafa Kandil’s Swvl partners with Moove to deliver EVs in MENAP region
The agreement comes nearly two weeks after Moove raised $105 million from institutional investors.
Local contractors accuse Nigerian billionaire Mike Adenuga’s Conoil of failing to pay debts
Adenuga, the founder of Globacom and a billionaire businessman, is the chairman of the board of Conoil.
Herbert Wigwe’s Access Bank completes transformation into Access Holdings
The move comes after the pan-African banking group received the Central Bank of Nigeria’s “approval in principle.”
Cameroonian entrepreneur Jean Lobe Lobe’s health startup Waspito raises $2.7-million seed funding round
Lobe founded the Cameroonian e-health startup in 2020 with the aim to connect the African health ecosystem.
The lionesses leading the pride
Here is a snippet of some of the modern-day queens who have pioneered male-dominated industries.
Egypt’s Ghabbour family set to receive $13.1 million in dividends from GB Auto in 2022
The wealthy Ghabbour family holds a majority 62.9-percent stake in Ghabbour Auto.
Controlled by Moroccan Royal Family, Al Mada sets up venture fund with $109.9-million investment
Under the direction of Morocco’s King Mohammed VI, Al Mada has grown into a leading African private investment fund.
MainOne, led by Funke Opeke, sets up fiber infrastructure in Nigeria’s first private free zone
The move comes nearly four months after Equinix, a digital infrastructure company led by U.S. businessman Charles Meyers, acquired MainOne.
Burkinabe tycoon Mahamadou Bonkoungou opens new showroom in Burkina Faso
Bonkoungou Distribution operates as a subsidiary of EBOMAF Group, a construction group founded in 1989.
AMCON receives court orders to takeover assets of Nigerian businessman Babatunde Folawiyo
Folawiyo has a beneficial one-percent stake in MTN Nigeria, the most profitable subsidiary of MTN Group.
South African tech mogul Zak Calisto loses $285 million in 85 days
Calisto owns a 75-percent stake in the Singapore-based technology firm.
Ghanaian mogul Samuel Jonah’s Helios Towers acquires 723 tower sites in Malawi from Airtel Africa
The deal is valued at $55 million.