Nigerian billionaire Tony Elumelu loses more than $4 million in 36 days
UBA is a leading Nigerian financial group with operations in 20 African countries, as well as the UK, United States and France.
African Billionaires
Egypt’s Ghabbour family gains $15.8 million in 11 days as shares in GB Auto rebound
The wealthy Ghabbour family holds a majority 62.9-percent stake in the leading auto manufacturer.
Led by Ivorian banker Tiemoko Yade Coulibaly, Societe Generale Cote d’Ivoire loses $42.6 million in three days
Societe Generale Cote d’Ivoire SA is an Ivory Coast-based bank offering financial products and services.
Led by South African fashion tycoon Michael Lewis, TFG acquires Quench shopping platform
TFG is a South African retail clothing group, trading under various brands with more than 3,000 stores.
Indian billionaire Sunil Bharti Mittal buys back minority shares in unlisted Nigerian subsidiary
Airtel Nigeria is the most profitable subsidiary of Airtel Africa, a leading telecom and mobile money services provider in Africa.
Egyptian billionaire Yasseen Mansour’s Palm Hills closes seventh securitization bond
The issuance was fully underwritten and co-arranged by several banks, including National Bank of Egypt.
South African businessman Sisa Ngebulana’s Rebosis declares no dividend for third consecutive year
Rebosis Property Fund is a Black-owned real estate investment trust in South Africa.
Tunisian tycoon Moncef Mzabi loses $3.1 million in three months as ARTES stock slumps
ARTES is a Tunisia-based automobile retailer established after the acquisition of Renault Tunisie in 1997.
Led by wealthy Billon family of Ivory Coast, Palmci gains $37.1 million in two months
Palmci SA is an Ivory-Coast-based company cultivating, processing and marketing crude palm oil in West Africa.
Afriquia Gaz, controlled by Moroccan billionaire PM Aziz Akhannouch, reports $567 million in revenue
As of the time of writing, Akhannouch’s net worth is valued at $2 billion, making him one of the richest men in Africa.
Egyptian billionaire Mohamed Mansour partners with GM to study domestic EV production
His Al Mansour Automotive Co is the largest GM dealer in the world and the fifth-largest distributor of Caterpillar Inc.
South African businessman Martin Moshal’s Entree Capital leads Anchor to raise $15 million in seed funding
Martin Moshal has been a serial entrepreneur in the software industry for more than 20 years.
South African technopreneur Philip Joubert’s OfferZen secures $5.1 million in funding
The funding will play a key role in the startup’s plans to deepen its operations in Europe.
Zimbabwean tycoon John Moxon’s Meikles posts $5.08 million in H1 profits, declares first interim dividend
The robust financial result can be linked to a strong performance by its supermarket and retail segment.
Egypt’s richest man Nassef Sawiris loses $340 million in November as shares in Adidas slump
Since the year began, his net worth has declined by $44.2 million, or seven basis points.
Karl Toriola-led MTN Nigeria launches $206-million public offering aimed at local retail investors
MTN Nigeria is one of Africa’s largest telecom services providers, connecting 68 million people across Nigeria.