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.
African Billionaires
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.
Nigerian billionaire Abdul Samad Rabiu donates $9.72 million hospital to Nigerian Police
Rabiu said the hospital was conceived to provide world-class healthcare services to security operatives.
Egyptian billionaire Yasseen Mansour’s Palm Hills plans to invest $242 million in 2022
The projected investment for the coming financial year represents a 52-percent increase from last year.
Controlled by Alaouite Royal Family of Morocco, Attijariwafa Bank reports surge in profits in 9M 2021
Attijariwafa Bank is a Moroccan multinational commercial bank and financial services conglomerate based in Rabat, Morocco.
Egyptian tech entrepreneur Ashraf Sabry loses over $10 million in 33 days
With a market capitalization of $1.38 billion, Fawry is one of Africa’s few tech companies worth over $1 billion.
Nigerian billionaire Femi Otedola confirmed officially as largest shareholder in First Bank
Otedola is resting pretty. He could now demand seats on the board, or even his appointment as chairman.