Angolan tycoon Carlos Manuel de Sao Vicente sentenced to nine years over graft
He has been sentenced to nine years in jail by a local court for embezzlement.
African Billionaires
Nigerian telecom mogul Bashir Ahmad El-Rufai controls $11-million stake in IHS Towers
The businessman played a key role in the deregulation of the country’s telecom industry in the early 2000s.
Qatari-backed fund acquires luxury Cape Town hotel from John Moxon’s Meikles
Meikles Limited, a conglomerate controlled by Moxon, has sold off The Cape Grace at the V&A Waterfront.
Richemont, controlled by billionaire Johann Rupert, sells off 20-percent stake in Greubel Forsey
Greubel Forsey, which was founded in 2004, manufactures very complicated timepieces.
Africa’s richest man Aliko Dangote’s fertilizer plant adds $5.15 billion to his net worth
Dangote is now the world’s 80th richest man.
Mauritian businessman Hector Espitalier-Noel’s ENL suffers $23.98 million in losses in 2021
The multimillion-dollar losses posted by the Mauritian conglomerate brings its total operating losses since June 2019 to $47.6 million.
South African businessman Mfundo Nkuhlu receives salary of $1.9 million from Nedbank in 2021
Nkuhlu owns a beneficial 0.043-percent stake in Nedbank, valued at $3.29 million.
James Mwangi to earn $3.3 million in dividends from Kenya’s biggest lender, Equity Group
Under Mwangi, Equity Group has grown into East and Central Africa’s largest financial services group.
John Kimani-linked Kakuzi posts $2.8 million in profit in 2021
Kimani holds a significant 32.3-percent interest in the company, totaling 6,330,699 shares.
Botswana-based businessman Jonathan Gibson’s stake in Chobe Holdings now worth $20.4 million
Gibson holds a substantial 35.6-percent interest in the group.
Tanzanian businessman Hans Macha gains over $1 million from stake in CRDB Bank
Macha has a fractional 1.25-percent ownership position in the bank.
Egyptian billionaire Naguib Sawiris’ La Mancha moves to invest $10 million in graphite mining firm
The cash proceeds invested by La Mancha will be deployed by SRG to develop its Lola graphite project in Guinea.
Led by Egypt’s richest family, Orascom Construction reports profits of $125.3 million in 2021
The billionaire Sawiris family controls 51.8 percent of the Egypt-based contractor through OS Private Trust Company.
Egyptian investor Hisham Talaat Moustafa loses $12.4 million as Egyptian pound slumps
Moustafa failed to realize dollarized profits from his position.
Kenyan banking mogul James Mwangi’s Equity Group reports record profits of $350 million
Equity Group has grown to become East and Central Africa’s largest financial services firm.
July Ndlovu-led Thungela recovers from deficits; earnings exceed $440 million in 2021
Thungela is a leading pure-play producer and exporter of high-quality, low-cost thermal coal.