Led by Nigerian investor Iyinoluwa Aboyeji, Future Africa’s assets reach $30 million
According to Aboyeji, financial services remains its top sector, accounting for 55.7 percent of the fund’s investments.
African Billionaires
Egyptian tycoon Hassan Allam-linked construction firm secures wastewater treatment plant contract
Hassan Allam Holding is Egypt’s largest privately held engineering, construction and infrastructure company.
Zimbabwe’s richest man, billionaire Strive Masiyiwa gains over $49 million from stake in EcoCash Holdings
Masiyiwa owns 30.26 percent of EcoCash Holdings, or 783,882,701 ordinary shares, through Econet Global Limited.
Indian billionaire Sunil Bharti Mittal’s Airtel Africa reports $514 million in profit in 9M 2021
In comparison to the previous year’s figures, the telecom company’s profit increased by 97.3 percent.
South African mogul Christo Wiese-linked Pepkor acquires controlling stake in Brazilian retailer
The deal will conclude on Feb. 4 through the acquisition of shares from Kinea Private Equity and the Caselli family.
Kenyan insurtech startup founder Jihan Abass’ Lami acquires Bluewave Insurance to drive expansion plans
The acquisition aligns with the firm’s mission to break the three-percent insurance penetration barrier in Africa.
Nigerian tech entrepreneur, Paystack Co-Founder Shola Akinlade establishes football club in Lagos
Sporting Lagos Football Club is an attempt to nurture the next generation of Nigerian sporting talent.
Assem Ragab-led Credit Agricole Egypt records over $102 million in net profits in 2021
The increase in net profit was fueled by a 2.4-percent increase in net-interest income.
South African tycoon Mohammed Akoojee’s Imperial Logistics acquires stake in Ascendis Pharma
The transaction marks another milestone for Imperial’s healthcare business.
Oil production ship linked to Nigerian energy magnate Ambrosie Bryant Orjiako explodes
The energy firm stated that there were no reported fatalities at the time of writing.
Kenyan entrepreneur Mark Mwangi’s Amitruck receives $4 million in funding to expand across Africa
The seed round was completed nearly a year after the Kenyan startup completed its pre-seed funding.
Nigerian billionaire Mike Adenuga’s Globacom signs network extension agreement with Ceragon Networks
Glo is the second-largest telecom services operator in Nigeria, with a 28.09-percent market share.
Egyptian tycoon Hend El-Sherbini loses $20 million from stake in healthcare services provider, IDH
El-Sherbini owns a 25.5-percent stake in the group, or 152,982,356 ordinary shares.
Moroccan tycoon Mohammed Abdeljalil-led Marsa Maroc sees over $383 million in revenue in 2021
The revenue increase cements Marsa Maroc’s position as one of Morocco’s leading listed companies.
Energy lawyer NJ Ayuk’s Centurion Int’l becomes first Africa-focused services firm to list in Germany
Ayuk, a Cameroonian lawyer and leading authority in the African energy sector, founded Centurion in 2007.
Malagasy tycoon Hassanein Hiridjee’s Axian Group acquires Senegalese firm, Eydon Petroleum
Following the deal, Eydon Petroleum’s operations will be integrated into Axian’s existing portfolio.