Burkinabe tycoon Mahamadou Bonkoungou hires Moroccan banker Nabil Tahari to lead IB Bank Togo
Tahari is a renowned banking executive and former Societe Generale Burkina employee.
African Billionaires
Kenyan tycoon Julius Mwale threatens court action after losing hold over Mumias Sugar
After losing their bid to revive Mumias Sugar, Mwale and Gale are challenging the tender process.
Ivorian businessman Jean-Luc Konan-linked Fin’Elle secures $5.6-million loan from FMO
Fin’Elle is a micro-finance institution dedicated to supporting female entrepreneurship in Cote d’Ivoire.
Egyptian billionaire Nassef Sawiris-led Orascom approves acquisition of three companies
Founded in 1950 by late Egyptian tycoon Onsi Sawiris, Orascom Construction is an Egypt-based engineering and construction giant.
Turkish tycoon Ersin Arioglu’s Yapi Merkezi signs $1.9-billion contract to extend Tanzania railway
Yapi Merkezi Group is a Turkish behemoth founded by multimillionaire businessmen Ersin Arioglu and Koksal Anadol.
Britam Holdings, controlled by Kenyan tycoons, set to earn $123.3 million from sale of Equity Group shares
The deal comes at a premium of nearly 11 percent over Equity Group’s share price.
South African tech mogul Zak Calisto gains $159 million in nine months following Karooooo IPO
Calisto founded Karooooo in 2001, with an initial focus on stolen vehicle recovery services in South Africa.
Namibian tycoon Quinton van Rooyen-linked Meya Mining receives $150 million to scale up production
Meya Mining is majority-owned by Quinton van Rooyen’s Trustco Resources in partnership with Sierra Leonean company, Germinate SL Limited.
Kenyan businessman Andrew Ndegwa gains $1.4 million in three weeks from stake in NCBA Group
NCBA Group is a Nairobi-based financial services conglomerate functioning as a non-operating holding.
Led by Mostafa Kandil, Egyptian ride-hailing startup Swvl set to list on U.S exchange
Swvl is a ride-hailing startup that provides a semi-private alternative to public transport.
Malawian businessman Hitesh Anadkat gains $3.9 million in four months as Telekom Networks shares soar
Anadkat, a prominent banker, owns 435,000,000 shares in the Malawi-based telecom company.
Nigerian billionaire Benedict Peters to build 500,000-bpd refineries in Niger Delta
Aiteo Eastern E & P Company Limited is one of Nigeria’s largest indigenous oil exploration companies.
Seven tycoons and multimillionaires in Ghana you’ve probably never heard of
Touted as one of the fastest-growing economies in Africa, Ghana is home to 110 multimillionaires and 2,800 HNWIs.
Kenyan tech entrepreneur Manoj Shanker in pains as Techno Brain loses $60-million Malawi e-passport contract
The development follows a series of public demonstrations against the contract.
South Africa’s richest man Johann Rupert loses $500 million amid investor profit-taking actions
Rupert is one of the top five richest billionaires in Africa with a fortune amounting to over $11.8 billion.
Shoprite CEO Pieter Engelbrecht receives salary package of $1.9 million in 2021
Shoprite Holdings Limited is South Africa’s largest food retailer and the biggest retailer in Africa.