Gold production update from Blanket Mine boosts stock of Steve Curtis’ Caledonia Mining Corporation
The uptick in the company’s stock rode on the news of gold production from the Blanket Mine in Zimbabwe.
African Billionaires
Neobank tycoon Uzoma Dozie’s Sparkle closes $3.1-million seed round to scale Nigeria operations
This follows the closing of a friends and family pre-seed round of $2 million within the past year.
Iain Williamson-led Old Mutual plans strategic acquisition in West Africa to deepen operations
Old Mutual is a pan-African investment, savings, insurance and banking group.
Kofi Sarpong-led GNPC, Kosmos Energy to acquire two Ghanaian oil fields from Occidental Petroleum
GNPC will pay $200 million and Kosmos will pay $550 million for the Houston-based company’s assets.
Nigerian banking guru Jim Ovia gains $24 million in 20 days, as Zenith Bank shares recover from five-month low
The gain in the company’s share price was spiked by buying pressures on the Nigerian exchange.
Ugandan businessman Charles Mbire to see net worth rise by $50 million thanks to MTN Uganda listing
Mbire said the listing reaffirms its commitment to expanding investment opportunities for Ugandans.
Patrice Motsepe-backed South African stock exchange company expects to break even in 2023
The value of stocks and funds on A2X Market more than doubled to $336 billion in the past 12 months.
Bob van Dijk’s Naspers-Prosus cross-deal boosts volume of M&A transactions in Sub-Saharan Africa
The value of M&A transactions in 2021 is over four times the amount recorded in the same period last year.
Ashraf Sabry’s Fawry announces investment in Sudan’s Alsoug online marketplace
Alsoug is a Sudanese startup that allows consumers to buy and sell products and services online.
Sultan Ahmed bin Sulayem’s DP World invests $1.72 billion in upgrading African seaports
Together with the British CDC Group, DP World will modernize seaports in Egypt, Senegal and Somaliland.
Kenyan top executive James Ndegwa suffers $1.8-million loss as NCBA Group shares decline
The loss came off the back of profit-taking actions and portfolio-rotation activities on the Nairobi Stock Exchange.
Herbert Wigwe’s Access Bank completes acquisition of BancABC Botswana
BancABC Botswana is a well-capitalized franchise with impressive growth prospects in Southern Africa.
Airtel Africa appoints Ethiopian businesswoman Tsega Gebreyes non-executive director
Gebreyes has played seminal roles in the founding of companies with operations in Africa and abroad.
Moroccan billionaire Anas Sefrioui loses $62.3 million in 71 days as ADH shares slide
Douja Promotion Groupe Addoha (ADH) is a Morocco-based real estate developer and construction company.
Jeremy Awori-led Absa Bank auctions 40 vehicles linked to bankrupt Italian firm CMC di Ravenna
Formerly Barclays Bank Kenya, Absa Bank Kenya is the local subsidiary of the South Africa-based Absa Group.
Egypt’s richest man Nassef Sawiris loses $621.8 million due to slump in Adidas shares
Investors fear supply chain disruptions caused by COVID-19 could impact Adidas’ sales.