Greek tycoon John Coumantaros loses $12 million in 41 days amid news of Honeywell acquisition
Coumantaros, a Nigeria-based Greek businessman, is the chairman of Flour Mills Group.
African Billionaires
Egyptian businessman Khaled Mahmoud gains $3.9 million in 34 days from stake in MM Group
Mahmoud is the chairman of MM Group, an Egypt-based consumer electronics distributor and retailer.
Kenyan tycoon Ashok Doshi, wife sue CBK, Imperial Bank over $8.8-million deposit
Doshi is the owner of Doshi Group, a provider of steel, electrical, water, hardware and telecom solutions.
Egyptian tycoon Safwan Thabet gains $26.7 million as Juhayna Food Industries shares surge
The gain in his stake can be linked to renewed investor buying interest driven by the company’s robust financial performance.
Led by Senegalese businessman Alioune Ndiaye, Sonatel to repay $5.6 million in debts to creditors in January
The payment to creditors represents its biannual interest payment commitments under its Sonatel 6.50-percent 2020-2027 bond.
Mauritian tycoon Arnaud Dalias-led CIEL reports $4.4 million in profits, as Q1 earnings rebound strongly
Dalais, who is the chairman of the Mauritian conglomerate, holds an eight-percent stake in the broad-based conglomerate.
Led by Osayi Izedonmwen, Nigerian ed-tech startup Teesas secures $1.6-million pre-seed funding
Teesas connects outstanding tutors and learners to facilitate an effective learning experience via technology.
Nigerian multimillionaire Mohammed Indimi donates complex to local university
Indimi is the chairman and founder of Oriental Energy Resources, a privately held Nigerian oil exploration and production company.
Seplat Energy terminates contract of Nigerian oil mogul Austin Avuru as director
Avuru was asked to resign as a non-executive director due to alleged breaches of the company’s corporate governance policies.
Egypt’s wealthy Khamis family gains $12 million in three days as Oriental Weavers shares surge
The Khamis family currently holds a 56.58-percent majority stake in the carpet company.
Uganda-based Sarrai Group wins deal to revive Mumias Sugar; Kenyan tycoon Julius Mwale signals court action
Sarrai Group has edged out Mwale to win the lease to operate and revive Mumias Sugar.
Led by Mauritian Lagesse family, LUX Island Resorts gains $14.6 million in 20 days
Lux Resorts is a leading luxury hotel operator and resort owner in Mauritius.
Egyptian billionaire Nassef Sawiris close to sealing $321 million MLS soccer deal
Sawiris and Wes Edens are looking to set up an MLS outfit in Las Vegas.
South African executive Josua Malherbe gains $2.4 million in 2021 thanks to stake in Remgro
Malherbe is a non-executive, co-deputy chairman of Remgro.
Nigerian billionaires Dangote, Rabiu, others get $73 million in sugar subsidies
The subsidies program targets operators acting under Nigeria’s sugar backward intervention program.
Ten African startups that raised more than $100 million this year
This year remains unprecedented in the annals of African tech startups. It was a record-breaking year in terms of funding.