South Africa’s second-richest man Nicky Oppenheimer gains more than $180 million in January 2022
The rise comes off the back of a revaluation of his assets held through Stockdale Street and Tana Africa Capital.
African Billionaires
Mining mogul Neal Froneman’s Sibanye-Stillwater buys out Amplats’ 50-percent stake in South African mine
The Froneman-led mining group will take full ownership of the low-cost, mechanized Kroondal operation
Nigerian tech entrepreneur Yele Bademosi’s Nestcoin raises $6.45 million from investors to deepen cryptocurrency, Web3 adoption
Nestcoin was created to capitalize on the growth opportunities embedded in Web3 development in Africa.
Nigerian businessman Victor Osibodu gets dragged to court over alleged $19-million debt owed to Ecobank
The debt is related to credit facilities provided by Ecobank to his energy company, Vigeo Holdings.
Egyptian tech entrepreneur Mohammed Abdulaziz’ Brimore gets $25 million to grow product offerings and supplier lists
Brimore is Africa’s first and fastest-growing social commerce and parallel distribution channel.
Namibian tycoon Quinton van Rooyen’s Trustco Group suffers over $64.6 million in losses in 2021
It is the second year in a row that the diversified investment holding has posted losses.
Nassef Sawiris, Egypt’s richest man, loses $230 million in first month of 2022
Sawiris is the eighth-richest billionaire in Africa and Egypt’s richest man with a fortune worth more than $6.27 billion.
Egyptian mogul Ashraf Sabry’s Fawry sees $700 million in payment acceptance transactions in 2021
With a market capitalization of more than $1 billion, Fawry is one of Africa’s few tech unicorns.
Led by Richmond Bassey, Nigerian brokerage app Bamboo raises $15 million to drive pan-African expansion
Bamboo is a digital investment platform that gives users real-time access to over 3,000 New York Stock Exchange-listed stocks.
Aliko Dangote’s auto company, Dangote Peugeot Auto, has begun Peugeot assembly in Nigeria
Dangote Peugeot Automobiles Nigeria Limited is owned by Dangote, the governments of Kaduna and Kebbi, and Stellantis Group.
Nigerian banking tycoon Tony Elumelu eyes new investments in Caribbean markets
Elumelu is the founder of one of Nigeria’s largest financial services groups, United Bank for Africa.
Key trends of African givers: Philanthropy is making its mark
Philanthropic practices in Africa have evolved through time and continue to shift.
Ghanaian tycoon Daniel McKorley’s McDan Group opens private jet terminal in Accra
McKorley’s McDan Group is a transportation and logistics company with interests in shipping, logistics, and aviation.
Led by Karl Toriola, MTN Nigeria reports profits of $718.5 million in 2021, 45-percent increase over previous year
During the year, its service revenue increased by 23.3 percent, from $3.22 billion in 2020 to $3.97 billion.
Greek tycoon John Coumantaros’ Flour Mills of Nigeria reports $41 million in profits in 9M 2022
Flour Mills of Nigeria reported a single-digit increase in profit in the first nine months of its 2022 fiscal year.
Indian tycoon Sunil Bharti Mittal’s Airtel Africa becomes ‘most-capitalized’ on NGX
Airtel Africa is a leading provider of telecom and mobile money services in East, Central and West Africa.