BEAC withdraws tea tycoon Baba Ahmadou Danpullo’s Nexttel mobile money service license
Danpullo is the founder of Baba Ahmadou Group, a Cameroonian conglomerate that owns the Ndawara Tea Estate.
African Billionaires
South Africa’s richest man Johann Rupert is now worth more than $10 billion
His present net worth makes him the second richest man in Africa behind Nigerian billionaire Aliko Dangote.
Nigeria’s oldest bank confirms finance mogul Tunde Hassan-Odukale as largest shareholder
Hassan-Odukale is the managing director and CEO of Leadway Assurance Company.
Moroccan mogul Abdeslam Ahizoune’s telecom firm posts lower earnings despite single-digit growth in customer base
Formerly Maroc Telecom, Itissalat Al-Maghrib is the main telecommunications company in Morocco.
Botswana businessman Gulaam Abdoola’s Turnstar Holdings reports $5.23 million in profits in H1 2022
Turnstar Holdings is a property loan stock group headquartered in Gaborone, the capital city of Botswana.
Here’s why EMEA Finance named Kenyan banking executive Gideon Muriuki Africa’s best banking CEO
The banker was presented the award at the 2021 EMEA Finance African Banking Awards.
Algeria’s richest man Issad Rebrab calls on government to encourage investments and introduce reforms
Rebrab is the head of the Algerian billionaire Rabrab family and the world’s second-richest Arab after Nassef Sawiris.
Led by influential Mauritian Lagesse family, LUX Island Resorts suffers $7.51-million loss in Q1 2022
During the quarter, the group’s revenue surged by 107 percent.
Nigerian billionaire Abdul Samad Rabiu’s BUA Cement posts $160.6 million in profit for 9M 2021
BUA Cement is a Nigerian cement manufacturer with an installed capacity of 8 million tonnes per annum.
Egyptian billionaire Nassef Sawiris’ Fertiglobe completes Abu Dhabi listing, market cap soars above $6.8 billion
The company operates as the world’s largest urea and ammonia seaborne exporter.
James Mwangi-led Equity Group to invest $1.5 billion in Africa-focused businesses in Kenya, South Africa
The group is embarking on the deal to expand its operational footprint beyond its current markets.
Nigerian startup founder Tunde Kara’s Vendease raises $3.2-million seed round
Vendease provides a transparent process for hotels and restaurants to purchase the best quality products at the best possible price.
Nigerian startup founder Etop Ikpe’s Autocheck secures $13.1-million seed round
The company has successfully raised $16.5 million in the past 11 months.
Egypt’s Khamis family loses $27.2 million in nearly seven weeks as shares in Oriental Weavers retreat from record 41-month high
Oriental Weavers is the world’s largest manufacturer of machine-made carpets.
Mokwena Morulane-led Minergy Limited suffers $9.5-million loss in 2021
However, figures contained in its 2021 annual report revealed that revenue soared by almost 140 percent.
Tax evasion case resumes against Kenyan tycoon Humphrey Kariuki
The prosecutors plan to cite evidence demonstrating the tax fraud scheme used by the defendant.