Johann Rupert’s Richemont in talks with Prada and Farfetch to launch online retail platform
Richemont recently disclosed that it is in talks to sell off a majority stake in the loss-making online retailer YNAP.
African Billionaires
Zimbabwean billionaire Strive Masiyiwa’s Africa Data Centers secures $254.6 million to expand presence in South Africa
Africa Data Centers operates as an affiliate of Cassava Technologies, a fiber and telecom solutions group.
Zimbabwean businessman John Moxon’s Meikles delays unbundling of tea business
Tanganda Tea Company is Zimbabwe’s largest distributor of bulk tea and packaged tea.
Moroccan businessman Mohammed Abdeljalil-led Marsa Maroc posts $287.7-million revenue in 9M 2021
The group’s quarterly filings revealed that it delivered a resilient financial performance despite the pandemic.
Malagasy tycoon Hassanein Hiridjee’s Axian Group commits to $6-billion Actis energy fund
The investment highlights the group’s commitment to projects bolstering the global transition to renewable energy.
Zimbabwe’s wealthy Rudland family moves to take over Tongaat Hulett sugar producer
An entity controlled by the Rudlands entered into an agreement with Tongaat Hulett, committing to partially underwrite a rights offer.
Mauritian businessman Hector Espitalier-Noel to pocket $300,540 in interim dividends
ENL is a conglomerate managing a diverse portfolio of more than 120 global and homegrown brands.
Kenyan multimillionaire Gideon Muriuki’s Co-operative Bank Group reports $103.54 million in earnings
Co-op Bank Group is one of the largest financial institutions in East Africa.
South African billionaire and Capitec Bank Founder Michiel Le Roux gains $359.61 million in 2021
Le Roux is the founder of Capitec Bank, one of South Africa’s largest retail banks.
Joshua Oigara-led KCB Group posts $224.37 million in profit as earnings in 9M 2021 surge
KCB Group is one of East Africa’s largest commercial banking groups.
Moroccan tycoon Karim Benjelloun’s Disway reports $119.1 million in revenue despite chip shortages
The company reported a growth in revenue as chip shortages rock the global technology industry.
Nigerian businessman Herbert Wigwe loses $3.14 million as Access Bank shares retreat from record highs
Wigwe nonetheless ranks among the wealthiest investors on the Nigerian Exchange.
Nigerian energy magnate Ambrosie Bryant Orjiako steps down as chairman of Seplat Energy
A board announcement issued by the energy group from its offices in Lagos confirmed the transition.
Karim Awad-led EFG Hermes reports 26-percent boost in 9M 2021 earnings; profits surge above $65 million
EFG Hermes is an Egyptian financial services company, with a global operational footprint.
Ethiopian billionaire Mohammed Al-Amoudi loses $170 million in two weeks
Al-Amoudi’s $7.05-billion net worth makes him the richest man in Ethiopia, and one of the wealthiest men in Africa.
Abdulwasiu Sowami’s Ardova finalizes acquisition of Nigeria’s largest downstream oil group
Ardova is now Nigeria’s largest indigenous publicly-listed downstream energy group.