Moroccan real estate tycoon Alami Lazraq’s Alliances Group posts $147.8 million in revenue in 2021
Lazraq said the group met its goals for 2021 despite the pandemic.
African Billionaires
Led by Egyptian Khamis family, Oriental Weavers reports all-time record revenue of $725 million in 2021
Farida Khamis and other members of the Khamis family jointly control a 56.58-percent stake in the leading carpet maker.
Tunisian Ben Yedder family loses more than $3.7 million in 23 days from stake Ennakl Automobiles
Ennakl is a Tunisian automotive retailer engaged in the retail sale of Volkswagen, Audi, Seat and Porsche vehicles.
Egyptian billionaires Nassef Sawiris, Hassan Allam to set up four supply commodities warehouses
The project will be developed at a cost of $203.7 million.
Mauritian Doger de Speville family gains $4.3 million from stake in Medine
Members of the family include Marie Therese Doger De Speville, Thomas Doger de Spéville, and 82-year-old Pierre Doger de Speville.
Zimbabwe’s Strive Masiyiwa unseats Patrice Motsepe to become Southern Africa’s richest Black billionaire
Masiyiwa is a London-based Zimbabwean billionaire businessman and philanthropist.
South African-born billionaire Patrick Soon-Shiong loses over $7.3 billion in one year
Soon-Shiong owns 73.2 percent of the biotech business.
Somali businessman Ismail Ahmed’s WorldRemit now has over 5.7 million customers globally
WorldRemit has serviced 5.7 million users in 130 countries, utilizing 70 different currencies.
MarketForce gets $40 million in funding backed by Kenyan businessman Ken Njoroge
MarketForce established a strategic partnership with Cellulant in December.
Africa’s richest man Aliko Dangote loses $500 million as cement firm shares fall
Dangote, the continent’s wealthiest man, has seen his net worth dip below $20 billion in recent times.
Greek businessman John Coumantaros’ Flour Mills plans to invest $168.3 million on sugar estate
Coumantaros controls a majority 63.34-percent share in the company valued at $209.1 million.
Nigerian founder Dozy Mmobuosi’s Tingo moves to raise $500 million, market cap soars above $7.6 billion
Mmobuosi co-founded Tingo Mobile in 2001.
Why African family businesses are failing at multigenerational wealth
The African continent is an entrepreneurial one, whose economic growth is in fact driven by family-owned businesses.
Billionaire Patrice Motsepe’s ARM anticipates 24-percent drop in earnings in H1 2022
ARM is a significant South African mining and minerals firm with holdings in a variety of mines.
Kenyan tycoon Jimnah Mbaru loses $1.1 million from stake in Britam Holdings
Britam Holdings is a leading financial services provider with operations throughout Southern and East Africa.
Somali businessman Abdirashid Duale’s Somtel partners with Telesom to facilitate connectivity
Somali multimillionaire billionaire Abdirashid Duale owns 95 percent of Somtel.