Egyptian real estate tycoon Samih Sawiris steps down as chairman of Orascom Development Holding
He will be exiting the position after almost 30 years at the company’s helm.
African Billionaires
Millionaires beginning to leave UK, new report reveals
UHNWIs are starting to leave the UK as a consequence of Brexit and resulting regulations.
Chinese investor Robin Duan Wei acquires majority stake in Joseph Ndung’u-led Choice Microfinance Bank
Wei is a successful entrepreneur and the founder of Mobvista, a leading digital advertising company.
Iyin Aboyeji’s Future Africa, others invest $3.2 million in Kenyan startup Wowzi
Wowzi is a Kenyan startup that helps creative agencies push brand messages and extract consumer insights.
Led by Egyptian executive Assem Ragab, Credit Agricole Egypt raises capital by $238.3 million
Credit Agricole Egypt SAE is engaged in corporate, retail and investment banking services in the Middle East and North Africa.
Led by Ezz Fayek, Egyptian cash back provider Waffar X raises multimillion-dollar funding round
WaffarX is the first cash-back provider in the Middle East and North Africa.
Egypt’s El-Sewedy family gains $127.1 million as shares in Elsewedy Electric surge
Elsewedy Electric is an Egyptian multinational electrical company founded by the Elsewedy family in 1938.
Pieter Engelbrecht-led Shoprite Holdings forms JV with leading logistics company RTT Group
The JV is part of a broader move by Shoprite to strengthen its e-commerce delivery capabilities in the retail segment.
Led by Karl Toriola, MTN Nigeria’s 5G roll-out bid receives massive boost after spectrum license acquisition
The development comes hours after the telecom giant closed its first public offering of millions of shares held by MTN Group.
South African billionaire Christo Wiese acquires new stake in Shoprite worth $25.8 million
The former chairman of the Johannesburg-based retailer purchased 20,000 single stock futures contracts.
Burkinabe construction tycoon Mahamadou Bonkoungou’s IB Holding acquires state-owned BTCI
Mahamadou Bonkoungou is the owner of EBOMAF S.A., one of the largest construction companies in Francophone Africa.
Controversial Kenyan tycoon Jimi Wanjigi set to run for presidency
Kenya’s next presidential election is scheduled for Aug. 9, 2022.
Nigerian tycoon Julius Rone signs $2-billion deal to launch first floating LNG project
The project is expected to be fully completed in 2026.
Ten of the richest businessmen in Tanzania — most of whom you’ve likely never heard of
According to AfrAsia Bank, the country is home to one billionaire, 80 multimillionaires and more than 2,300 individuals.
John Gachora-led NCBA Group risks $9.7 million in losses in attempt to revive insolvent business
NCBA Group is a leading Nairobi-based financial services conglomerate.
UK-based firm set to acquire stake in Johann Rupert-linked logistics company in $77.9-million deal
Rupert’s Grindrod Shipping is a global shipping company dual-listed on NASDAQ and the Johannesburg Stock Exchange.