Christo Wiese’s Invicta moves to acquire UK-based spare parts distributor, KMP Holdings, in $17-million deal
Invicta said it will acquire 100 percent of the issued share capital and shareholder loans payable by KMP Holdings.
African Billionaires
Egyptian tycoon Ahmed El Sewedy-linked Egytech Cables signs $28.1-million contract with Kuwaiti company
Egytech Cables is a 99.98-percent-owned subsidiary of the Elsewedy family-controlled Elsewedy Electric.
James Mwangi’s Equity Bank secures $165-million credit facility from IFC days after buy-in
The credit facility is a seven-year Tier 2, Basel II-compliant subordinated loan.
Moroccan PM Aziz Akhannouch gains $179.5 million from stake in Afriquia Gaz in 2021
Afriquia Gaz SA is a Morocco-based group engaged in refining and marketing liquefied petroleum gas.
Kenyan tycoon Charles Njonjo, country’s first attorney-general, passes away at 101
Njonjo died at his home early Sunday morning.
South Africa’s richest man Johann Rupert gains $3.88 billion in 2021
Rupert’s net worth got a shot in the arm in 2021 due to sustained buying interest in Richemont and Remgro shares throughout the year.
They will be missed: The African tycoons and billionaires who passed away in 2021
An Eritrean cereals tycoon and an Egyptian billionaire patriarch are among the African mega-rich who passed away in 2021.
Ethiopian billionaire Mohammed Al-Amoudi loses $855 million in 2021
Al-Amoudi, who is the wealthiest man in Ethiopia, has a net worth of $6.71 billion.
Kenyan court freezes Mumias Sugar lease to Uganda-based Sarrai Group after Julius Mwale litigation
Justice Anthony Ndung’u has temporarily suspended the leasing of the ailing sugar miller.
Nigerian industrialist Samuel Bolarinde gains $5.3 million as Vitafoam shares soar by 188 percent
Vitafoam is Nigeria’s leading flexible and rigid polyurethane product manufacturer.
Tanzanian magnate Ketan Patel loses $5.3 million in 2021 as Shanta Gold shares lose half value
Patel, who founded Shanta Gold in 2001, has seen a $5.3-million loss in the value of his stake since January.
Nigerian tycoon Tony Elumelu opens portal for 2022 entrepreneurship program
The portal for this year’s application is active and interested applicants are urged to apply.
Led by Martine Coffi-Studer, Bollore Transport & Logistics Cote d’Ivoire gains over $36 million in 55 days
Bollore Transport & Logistics Cote d’Ivoire is majority-owned by the French Bollore Group.
Prosus N.V., led by South African billionaire Koos Bekker, announces share buy-back worth $118.5 million
Founded in 1997, Prosus N.V. is a global consumer Internet group and one of the largest technology investors in the world.
Nigerian businessman Austin Okere’s CWG launches process to write down retained losses of $5.07 million
CWG has grown into a leading IT services provider in West Africa.
Ghanaian logistics mogul Daniel McKorley floats airline business; set to launch private jet terminal in 2022
McKorley is the founder and CEO of McDan Group of Companies.