Africa’s richest man Aliko Dangote gains more than $950 million so far this year
The surge in his net worth represents the largest wealth gain by an African billionaire since January.
African Billionaires
Led by Mostafa Kandil, SWVL raises $21.5-million PIPE funding ahead of U.S. listing
The transaction is part of a proposed business combination with the SPAC, Queen’s Gambit Growth Capital.
Swazi billionaire Natie Kirsh’s net worth increases by $320 million in two weeks
Kirsh is the 313th wealthiest man in the world and the fourth-richest man in Africa.
Tanzanian Rajabali brothers gain $2.1 million as CRDB Bank shares skyrocket by double digits
The multimillionaire brothers, Aunali and Sajjad Rajabali, own a 2.6-percent stake in the Dar es Salaam-based lender.
Distribution tycoon Khaled Mahmoud’s MTI looks set to begin selling Apple products in Egypt
The automotive and consumer electronics distributor announced that it has reached an agreement with Apple Trading Egypt.
Zimbabwean billionaire Strive Masiyiwa’s Cassava Technologies appoints Tesh Durvasula as CEO for Africa Data Centers
Durvasula will take on the leadership role to drive growth, innovation and strategy for Africa Data Centers.
South African tycoon Stephen Saad’s Aspen partners with Siemens to boost vaccine production for Africa
The collaboration will enable Africa’s largest drugmaker to increase its production capacity to meet the rising vaccine demand in Africa.
Led by Nigerian banker Segun Agbaje, GTCO acquires Investment One Funds Management
The transaction was completed eight months after the group transitioned into a holding structure.
Billionaire businessman Patrice Motsepe loses $111 million as shares in South Africa’s first Black-owned mining group fall from record highs
Motsepe, who founded ARM in 1997 as South Africa’s first Black-owned mining company, owns 40 percent of the leading mining group.
Led by Mauritian Lagesse family, LUX Island Resorts posts $9.7 million in profits in Q2 2022
Lux Resorts is a leading luxury hotel operator with properties and operations in Mauritius, the Maldives, China, France and Vietnam.
Cameroonian banker Alain Nkontchou gains over $1.5 million from stake in pan-African banking group, Ecobank
Nkontchou, who is the chairman of the Togo-based financial services company, holds 0.98 percent of Ecobank.
Nigerian businessman Tony Elumelu’s oil firm submits offer to acquire Shell’s JV assets in Nigeria
With the recent bid, the Elumelu-backed oil firm is set to compete with key players in Nigeria’s oil and gas industry.
Meet Osinachi Ukomadu, an African tech entrepreneur revolutionizing logistics
Heroshe allows Nigerians to buy products from any trusted U.S. online store.
Ethiopia’s richest man Mohammed Al-Amoudi’s net worth slumps by $268 million since start of 2022
With a fortune of $6.45 billion, Al-Amoudi is one of Africa’s richest men and the wealthiest man in Ethiopia.
One of Malawi’s wealthiest men Thomson Mpingajira receives court bail months after being served nine-year sentence
Mpingajira is was convicted for attempting to bribe judges hearing a case related to the country’s 2019 presidential election.
Egyptian tycoon Hisham Talaat Moustafa pledges $635,000 to Egypt’s national team
The multimillionaire made the pledge during a phone call with the country’s minister of youth and sports.