South African billionaire Patrice Motsepe’s net worth rises by $300 million in 11 weeks
The billionaire is one of the richest men in Africa.
African Billionaires
Egyptian businessman Ashraf Sabry loses more than $8.5 million from stake in fintech unicorn
Sabry, who founded the payment platform in 2008 and pioneered electronic bill payments in Egypt, owns 2.345 percent of the company.
Nigerian banker Herbert Wigwe’s Access Bank earns $385.6 million in profit in 2021
Despite a 51-percent increase in earnings, the board proposed a dividend of $0.00168 per share for shareholders.
Kenya-based 4G Capital, led by Wayne Hennessy-Barrett, raises $18.5 million
Hennessy-Barrett launched 4G Capital in 2013 after working as a loan manager for a Kenyan institution for a short time.
Nigerian tycoon Tony Elumelu calls gov’t to order, says 90 percent of Nigerians live in poverty
Elumelu believes Nigerians face too many challenges in their daily lives due to government mismanagement.
Sam Darwish’s IHS Towers suffers over $26 million in losses in 2021
IHS Towers is a leading telecom infrastructure group.
John Kimani-linked Kakuzi Plc receives approval to export avocados to China
Kimani has a substantial 32.3-percent stake in the firm, totaling 6,330,699 shares.
Kenya-based entrepreneur Daniel Yu’s Wasoko raises $125 million at $625-million valuation
Since Yu founded Wasoko in 2015, it has expanded its operations beyond Kenya and delivered 2.5 million orders.
Tsitsi Masiyiwa, Melinda French Gates, others join forces with Co-Impact to launch $1-billion gender fund
Co-Impact will allocate at least 10 percent of the funds raised to feminist and women’s rights organizations and movements.
Johann Rupert’s net worth falls below $10 billion as Richemont shares tumble
The billionaire has lost more than $286 million in a single day.
Austin Avuru’s gains over $18.5 million in three weeks from stake in Nigeria’s largest energy firm
Avuru owns an 8.2-percent stake in Seplat Energy through his family business, AAH Holdings.
Nigerian tech entrepreneur Ladi Delano’s Moove raises $105 million to expand operations globally
Since its inception two years ago, the mobility fintech pioneer has raised a total of $174.5 million in financing.
Jeremy Awori’s Absa Bank Kenya reports triple-digit growth in earnings as profit exceeds $95 million
Awori said the shifting operating climate compelled management to take urgent actions to protect capital and liquidity.
Egyptian multimillionaire Medhat Khalil’s Raya Holding to launch e-payment company
Raya Holding is an Egyptian investment conglomerate founded in 1999.
Jason Quinn-led Absa Group resumes dividend payment as earnings exceed $1.1 billion
The issued dividend reflects the group’s strong financial performance at the conclusion of its 2021 fiscal year.
Moi family of Kenya buys back majority stake in power company from steel magnate Narendra Raval
The lucrative deal is part of efforts to retrieve some of the family’s assets.