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.
African Billionaires
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.
Peter Ashade’s United Capital earns $27 million in profit as managed funds surpass $785 million
United Capital is a fast-growing banking and investment services business.
Malawian banking mogul Hitesh Anadkat’s stake in FMB Capital is worth over $86 million
Anadkat has a significant 35.51-percent stake in the Port Louis-based company.
Ten richest investors on the Ghana Stock Exchange in 2022
The Ghana Stock Exchange provided outstanding profits to investors and other market players in 2020 and 2022.
Egyptian tycoon Ahmed Ezz loses $42.9 million from stake in Ezz Steel
The multimillion-dollar decline in his stake may be attributed to a sell-off of the company’s shares.
South African tycoon Christo Wiese receives $463.1-million settlement from Steinhoff
Wiese received $198.5 million in cash and a five-percent share in Pepkor.