Botswana retail moguls Farouk Ismail, Ramachandran Ottapathu increase stake in Choppies
Choppies is a Botswana-based investment holding operating in the retail sector in Southern Africa.
African Billionaires
Egyptian steel magnate Ahmed Ezz loses $81 million in four weeks as Ezz Steel shares slump
Ezz Steel is the largest independent steel producer in the Middle East and North Africa.
Moroccan billionaire Othman Benjelloun’s Bank of Africa posts $268.1 million in net profit in 9M 2021
Bank of Africa is a multinational pan-African banking conglomerate with operations in 18 African countries.
Egyptian tycoon Hani Berzi’s Edita Food Industries moves to acquire Egyptian Belgian Company
Edita Food Industries is a leader in the growing Egyptian packaged snack foods market.
Nigerian banker Jim Ovia gains $17.93 million in two months as stake in Zenith Bank surges
Ovia is the founder of Zenith Bank, a Lagos-based banking group and Nigeria’s most profitable financial services company.
South African billionaire Patrice Motsepe’s ARC to acquire Crossfin fintech platform
The acquisition marks a landmark deal in the fintech industry that will see Crossfin secure the requisite capital to pursue the next phase of its growth.
Egyptian mogul Nassef Sawiris enters alliance with Emirati investors to further boost clean methanol business
OCI N.V. is a leading nitrogen and hydrogen product manufacturer and distributor.
Egyptian billionaire Nassef Sawiris’ net worth slumps by $190 million in just a week
The decline can be linked to a slump in Adidas’ shares, as investors sell off their positions in the company.
Kenyan banker Gideon Muriuki loses $900,000 in three months as shares in Co-operative Bank Group fall
Muriuki is the CEO of Co-operative Bank Group, one of the largest financial institutions in East Africa.
Heineken loses over $4 billion in eight days after revealing plans to acquire Johann Rupert’s Distell
Distell is South Africa’s most expansive wine and spirits maker.
U.S.-Nigerian telecom tycoon Sam Darwish’s IHS Towers suffers $30 million in losses during Q3 2021
IHS Towers is the largest telecom infrastructure group in Africa, Europe, Latin America and the Middle East by tower count.
South African billionaire Nicky Oppenheimer gains $2.02 million from stake in IDH
One of the wealthiest men in Africa and the second richest man in South Africa, he holds a significant stake in IDH.
Moroccan magnate Anas Sefrioui loses $75.72 million as ADH shares slump
ADH is Morocco’s largest property developer and operator with real estate programs across the North African country.
Prosus, led by South African billionaire Koos Bekker, reports $15.8 billion in profit in H1 2022
Prosus is the global Internet assets division of the South African multinational group, Naspers.
Greek tycoon John Coumantaros’ Flour Mills of Nigeria eyes $194.6-million acquisition deal
Flour Mills of Nigeria and Honeywell Flour Mills will combine to create an industrial behemoth.
Save the Children UK appoints Nigerian billionaire Femi Otedola as vice president
His daughter, Florence Ifeoluwa Otedola, popularly known as “DJ Cuppy,” is a Save the Children ambassador.