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.
African Billionaires
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.
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.
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.