Christo Wiese-linked retailer Steinhoff starts payouts under $1.62-billion settlement
The move comes nearly three weeks after it received approval from a Cape Town high court to pay the investors.
African Billionaires
Egyptian mogul Ashraf Sabry’s Fawry Microfinance surpasses $64 million in total disbursals
Fawry Microfinance is an operating subsidiary of Fawry for Banking Technology and Electronic Payments.
Egypt’s billionaire El-Sewedy family loses $109 million from stake in electric company
The El-Sewedy family owns 68 percent of the electric company, or 1,478,689,860 shares.
Mauritian tycoon Arnaud Lagesse-led IBL Group posts $36 million in profit in H1 2022
The Mauritius-based conglomerate recorded a triple-digit increase in profit in the first half of its 2022 fiscal year.
Banking tycoon Tony Elumelu gains nearly $2.8 million from stake in UBA
Elumelu has recently shown interest in Caribbean markets as part of a strategic drive to foster wealth creation through partnership.
Egypt’s richest man Nassef Sawiris acquires $4.4-million stake in Nile City
According to a bourse filing, Sawiris acquired 203,024 shares in Nile City Investments via the block transaction.
Mauritian tycoon Hector Espitalier-Noel’s New Mauritius Hotels obtains approval to enter into $22.3-million facility
New Mauritius Hotels has long been the pioneer and leader of the Mauritian tourist business.
Mauritian tycoon Arnaud Dalias’ CIEL Limited declares $21 million in profit
Dalais, the chairman of the Mauritius-based company, owns an eight-percent stake in CIEL.
Egyptian tycoon Hassan Allam’s construction group partners with U.S.-based tech firm to provide cybersecurity solutions
Hassan Allam Holding is Egypt’s largest privately held engineering, construction, and infrastructure firm.
South African executive Alan Pullinger gains more than $1 million from stake in FirstRand
Pullinger holds a minority shareholding of about 0.1 percent in the group.
Billionaire Patrice Motsepe-linked Sanlam opens three new offices in Togo
Motsepe owns a minority stake in Sanlam through his financial business Ubuntu-Botho Investments.
Botswana tycoon Ramachandran Ottapathu’s Choppies expects 174-percent surge in H2 earnings
Ottapathu and Farouk Ismail, who occupy key roles in the store, control a combined 44.5-percent interest in Choppies Enterprise.
Wealthy Egyptian Sawiris family assists Mostafa El Beltagy-led Nawy in raising $5 million in funding
Nawy’s innovative solutions and services have assisted over 60,000 people in finding houses.
Family offices — a new investment vehicle for Africa’s wealthy
Family offices provide a broad spectrum of private wealth management services to one or a small number of ultra-high-net-worth families.
Zimbabwean tycoon Zinona Koudounaris gains $14.5 million since start of 2022
Koudounaris, a multimillionaire serial investor and one of Zimbabwe’s richest men, owns a 20.9-percent stake in Axia Corp.
Ghana’s richest stock market investor Daniel Ofori’s stake in Societe Generale Ghana is worth over $9 million
Ofori owns 6.8 percent of the Accra-based bank.