Ugandan businessman Abid Alam’s Kassanda Sugar Factory slated to launch production on Sept. 1
The factory will have a capacity of 1,500 tonnes per day.
African Billionaires
Tanzanian mogul Ketan Patel’s stake in Shanta Gold surges by $3.14 million
Shanta Gold is an East Africa-focused gold producer based in Tanzania.
Group Vice President Ebenezer Asante sees stake in MTN Ghana decline by $320,000
The losses were due to a decline in the MTN Ghana share price.
Steel tycoon Narendra Raval injects millions into ARM Cement’s fertilizer unit
The multimillionaire has invested $16.7 million in upgrading the unit.
Nigerian tycoon Obafoluke Otudeko, son to earn $1.02 million in Honeywell dividends
Otudeko founded the integrated flour milling company in 1985.
Nassef Sawiris’ stake in Orascom Construction drops by $10 million in one month
The company’s share price on the Egyptian Stock Exchange lost six percent of its value since early May.
Chipper Cash founders Ham Serunjogi, Maijid Moujaled raise $100 million in Series C round
The fintech startup facilitates cross-border payments across Africa.
South African mining tycoon Neal Froneman criticizes government’s attitude toward sector
The Sibanye-Stillwater CEO took issue with South Africa’s sluggish stance on attaining carbon neutrality.
South Africa’s wealthiest man Johann Rupert sees net worth rise by $2.05 billion
The gains were due to a rise in the share price of Compagnie Financiere Richemont and Distell Group.
Egyptian-American tycoon Ahmed Bahjat laid to rest in Egypt
The founder of Egypt’s Bahgat Group passed away after a protracted battle with an unspecified illness.
Tanzanian multimillionaire brothers Aunali and Sajjad Rajabali’s stake in CRDB bank soars
Its market value has climbed 35 percent in under two months.
Sawiris-backed Endeavour to buy Teranga Gold in $1.86-billion deal
The combined company will produce about 1.5 million ounces of gold per year across West Africa.
John Coumantaros’ Flour Mills to invest $300 million to raise sugar production capacity
It will invest at least $300 million in building a new plant and a 15,000-hectare sugarcane plantation.
Equity Group Managing Director James Mwangi sees stake rise by $8.9 million
The surge follows a rise in the company’s shares on the Nairobi Stock Exchange.
Tom Vernon’s football academy expands to Egypt with new billionaire owner
Egyptian billionaire Mohammed Mansour has invested $120 million for a controlling stake in the organization.
South Africa’s World Sports Betting acquires iDiski Media: Group CEO Warren Tannous
The company will leverage iDiski’s wider reach within the South African market.