Sam Darwish’s IHS Towers suffers over $26 million in losses in 2021
IHS Towers is a leading telecom infrastructure group.
African Billionaires
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.
South African businessman Mxolisi Mgojo sees stake in Exxaro surge above $5.7 million
Mgojo owns a beneficial 0.17-percent ownership in the leading diversified resources firm.
Led by Mauritian Espitalier-Noel family, Rogers suffers $19.6-million in losses in 2021
Rogers and Company Limited is a Mauritius-based international services and investment firm.
Egyptian billionaire Yasseen Mansour’s real estate firm launches $206.5-million Sukuk bond
The proceeds from the issuing of Sukuk bonds will be used to build Palm Hills’ Badya creative city project.
Led by Ibrahim Farag, Egyptian startup Nexta raises $2.2 million from institutional investors
Farag and Ahmed Hisham founded the Egyptian fintech startup in 2021.
Kenyan businessman Joshua Oigara receives extension to stay with KCB Group until December
Under Oigara, the group’s assets have increased in value from $3.41 billion at the end of 2013 to $8.64 billion by the end of 2020.