U.S.-Nigerian mogul Sam Darwish’s IHS and Airtel forge partnership to boost infrastructure
Under the groundbreaking move, Airtel Nigeria has committed to securing 3,950 tenancies over the next five years.
Billionaires Africa
African-American billionaire Alex Karp gains $600 million in just 9 days
The recent increase in his fortune is linked to the performance of his 2.63-percent stake in Palantir Technologies.
Kenya’s wealthy Merali family loses $1.9 million from investment in Sasini Tea
The Merali family, holding a majority 65.46-percent stake in the agribusiness firm valued at more than $23 million, ranks as Sasini’s largest shareholder.
Companies and ventures linked to the late Nigerian banker Herbert Wigwe
From transforming Access Bank into Access Holdings to visionary ventures like Tengen Holdings, HOW Foundation, and the upcoming Wigwe University.
Tanzanian billionaire Rostam Aziz to pocket millions from sale of container terminal
Aziz, 59, was the first Tanzanian to boast of a billion-dollar fortune according to Forbes.
Egyptian billionaire Yasseen Mansour rakes in $2.8 million from real estate firm
Mansour owns a sizable 5.6-percent stake in the Cairo-based real estate firm, which translates to 202,291,698 ordinary shares.
India’s richest man Gautam Adani ventures into Tanzania with Ticts acquisition
The UAE-incorporated East Africa Gateway was established to spearhead Adani Group’s interests in East Africa and the broader African continent.
This Week In Review: A Snapshot of African Wealth Dynamics — Strategic Moves by Peters, Otedola’s Dividend Windfall, and Dangote’s Expansion (Feb. 5 to 10)
Dive into the dynamic world of African business magnates, where Benedict Peters teams up with the Atlantic Council, Femi Otedola secures a massive dividend from Geregu Power, and Aliko Dangote propels his companies toward public listings.
Angola plans IPO for Unitel after seizing control from Africa’s first female billionaire
As Angola positions itself on the global stage, the planned IPO for Unitel and the stake sale in Banco de Fomento Angola reflect the government’s commitment to fostering economic growth.
Nigerian billionaire Femi Otedola to pocket $17.6 million from Geregu Power in March
The dividend solidifies Otedola’s position among Nigeria’s top dividend earners and adds another financial milestone to his already impressive portfolio.
South African billionaire Ivan Glasenberg loses $490 million in 6 days
Ranked 318th among the world’s wealthiest, Glasenberg has slipped from 302nd since Feb. 3.
Kenyan businessman John Kimani becomes Centum’s third-largest shareholder
His move comes as shares remain attractively priced on the Nairobi Securities Exchange.
South African executive Ian David Vorster pockets $1-million salary in 2023
Vorster’s 2023 compensation comprises a base salary of R4.20 million ($0.22 million) and a performance-based short-term incentive of R4.50 million ($0.24 million).
Egyptian tycoon Hani Berzi rakes in $33 million in nine days from Edita stake
Berzi established the conglomerate in 1996 and presently holds a substantial 41.95-percent stake, equivalent to 303,323,015 ordinary shares, via Quantum Invest BV.
Morocco’s second-richest man Othman Benjelloun gains $51.5 million from BOA stake
Benjelloun owns a significant 27.41-percent stake in Bank of Africa.
America’s second-richest Black billionaire David Steward gains $280 million in 6 days
The significant boost in Steward’s net worth is primarily attributed to the performance of his substantial 59-percent stake in World Wide Technology (WWT).