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.
African Billionaires
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.
Tanzania’s richest man Mohammed Dewji to donate $870,000 to help construct Simba Sports Club stadium
The donation comes after Mo handed an $8.6-million check to Simba SC for a 49-percent equity stake in the club.
South Africa’s five richest men and how they made their money
South Africa is home to the second-highest number of billionaires in Africa.
Controversial Egyptian tycoon Ahmed Ezz to acquire stake in Egyptian Steel for $159.2 million
Ezz Steel has an annual steel production of 7 million tonnes.
United States sanctions firms owned by South Sudanese tycoon Benjamin Bol Mel
Bol Mel once served as the chairman of the South Sudan Chamber of Commerce, Industry, and Agriculture.
James Mwangi-led Equity Group mobilizes $4.6 billion to support MSMEs in East and Central Africa
Equity Group is listed on the Nairobi Securities Exchange and holds over $8.92 billion in assets.