U.S.-based firm in talks to merge with Zimbabwean billionaire Strive Masiyiwa’s Cassava Technologies
According to Forbes, Masiyiwa is the 16th richest man in Africa, with a net worth of $2.3 billion.
African Billionaires
Egypt’s wealthiest man, Nassef Sawiris loses $250 million amid news of Adidas shares buyback
Sawiris derives the majority of his wealth from his stake in Adidas.
Controversial Kenyan football club owner, Ricardo Badoer accused of fleecing investors of over $140 million
The tycoon was accused of perpetrating the crime through one of his platforms — Aidos Kuneen cryptocurrency.
Kenyan tycoon Suresh Bhagwanji Shah loses $38 million in 2021 as I&M Group shares slump
Shah holds a 10.8-percent stake in the Kenyan company, amounting to 178,514,362 ordinary shares.
Led by Saad Bendidi, Moroccan agribusiness Forafric set to list on U.S. exchange
Forafric is a leading Moroccan company sourcing, processing, selling and distributing agricultural commodities.
Wealthy Ben Yedder family of Tunisia gains over $3.6 million from stake in Ennakl Automobiles
Ennakl is a Tunisian automobile retailer engaged in the sale of cars under the Volkswagen, Audi, Seat and Porsche brands.
Led by Adetayo Bamiduro, Nigerian mobility startup Max secures $31 million in Series-B round
The funding secured in the round will help the startup expand its operations across the continent.
Carbacid Investments looks to acquire Kenyan tycoon Ngugi Kiuna’s BOC Kenya
Due to legal and regulatory roadblocks, the finalization of the deal has now dragged on for more than one year.
Patrice Motsepe’s African Rainbow Minerals acquires Bokoni platinum mine for $220 million
Bokoni, which was founded in 1969, was previously called Lebowa Platinum.
Burkinabe tycoon Idrissa Nassa’s Coris Bank funds Kouroussa Gold mine in Guinea with $100 million
Nassa said the financing deal is a step further in its plan to help strengthen Africa’s mining industry.
Mauritian businessman Tim Taylor gains $1.8 million in 20 days from stake in CIM
Tim Taylor holds a substantial 9.27-percent stake in the Mauritian non-banking financial institution.
Led by South African tycoon Aisha Pandor, SweepSouth buys out Egyptian Filkhedma
SweepSouth is fondly referred to as the Uber of cleaning services.
Swazi billionaire Natie Kirsh gains $1.7 billion since start of year
One of Africa’s richest men, Nathan Kirsh holds the majority of his investments through his family-owned Kirsh Group.
Nigerian banking executive Remi Babalola resigns weeks after Femi Otedola increases stake in FBN Holdings
Experts believe Otedola could take over the helm as the bank’s chairman, or exercise some level of control over its administration.
Nigerian media mogul Nduka Obaigbena fights ban on running company in UK
A London judge has granted him permission to appeal the decision banning him from trading in the UK.
Egyptian billionaire Naguib Sawiris set to sell his majority stake in ‘struggling’ Euronews
The deal is expected to close in Q1 2022.