Mitwa Ng’ambi-led MTN Rwanda posts $19.1 million in profit for 9M 2021
The profit marked an 8.7-percent growth from the figure posted for the same period last year.
African Billionaires
South African executive Neal Froneman’s Sibanye-Stillwater to acquire two mines in Brazil in $1-billion deal
Sibanye-Stillwater is the world’s largest primary producer of platinum, second-largest producer of palladium and third largest producer of gold.
Egyptian billionaire Nassef Sawiris gains $230 million in two weeks as Adidas shares rebound from five-month low
Since the start of the year, Sawiris has seen his net worth increase by $264 million from $6.6 billion on Dec. 31, 2020.
South African businessman Stephen Brookes to pocket $857,100 in interim dividends from Balwin Properties
Balwin is a residential property developer of large-scale estates for South Africa’s low-to-middle-income population.
Zimbabwean businessman Paddy Zhanda sells shares in Masimba Holdings worth $572,320
Masimba Holdings is a well-established group in Zimbabwe, providing engineering and infrastructure solutions.
Tony Elumelu’s United Bank for Africa reports $254.4 million in profit for 9M 2021
UBA is a Nigerian financial services group with operations in 20 African countries, the UK, the United States and France.
Nigerian billionaires fight to control one of country’s largest banks
Nigerian billionaires are putting their hard-earned money to work to control First Bank of Nigeria Holdings.
Theophilus Yakubu Danjuma’s TY Holdings rebrands BOC Gases Nigeria months after acquiring 60-percent stake
BOC Gases is a subsidiary of the UK-based BOC Holdings Limited, an industrial and medical gas manufacturer.
Wealthy Moi family of Kenya sells stake in Siginon Aviation in deal worth $40 million
The deal gives NAS a foothold in Nairobi, a major hub in the African aviation industry.
Wife of banking tycoon Aigboje Aig-Imoukhuede takes seat as executive vice chair of his philanthropic organization
The Aig-Imoukhuede Foundation is a philanthropic organization committed to improving the lives of Africans.
11 African beverage tycoons you should know
Meet 11 African tycoons, who have built multimillion-dollar fortunes by manufacturing alcoholic beverages.
Demola Sogunle-led Stanbic IBTC reports near 40-percent decline in 9M 2021 profits
The company operates as a member of Standard Bank Group, a financial services giant based in South Africa.
Nigeria’s oldest bank confirms billionaire Femi Otedola’s acquisition of $54.2-million stake
Otedola is known for building corporate juggernauts in the energy, shipping, real estate and finance sectors.
Led by Tunisian Ben Yedder family, Ennakl Automobiles posts $153 million in revenue in 9M 2021
Ennakl is a Tunisian auto retailer selling cars under the Volkswagen, Audi, Seat and Porsche brands.
Paystack Co-Founder Ezra Olubi, others inject $1.7 million into Brass Banking startup
The Nigerian digital banking startup seeks to address the underserved banking needs of local entrepreneurs.
Pharma tycoon Stephen Saad’s Aspen sells six product lines to Swiss pharmaceutical company
Aspen is a multinational holding for pharmaceutical interests and the largest drug company in Africa.