Abdul Samad Rabiu donates vehicles worth $650,000 to drug enforcement agency
The latest donation follows NDLEA’s receipt of a grant amounting to $1.1 million about nine months ago from Rabiu.
Billionaires Africa
Firm owned by Kenya’s Merali family to settle debts with $6.3-million land sale proceeds
The Merali family, overseeing the estate of the late tycoon Naushad Merali, commands a 74-percent stake in Sameer Africa.
Tunisian tycoon Habib Essayeh’s Euro-Cycles shares slump by $10 million
Essayeh owns a 33.6-percent stake in Euro-Cycles, a Tunisian automotive company specializing in the production of customized bicycles and cycles exclusively for export.
African-American mogul Sheila Johnson’s luxurious resort undergoes rebranding
The rebranding effort is poised to reinforce the resort’s position under Salamander Collection, a hospitality management company.
Zimbabwean tycoon John Moxon faces $130-million loss in 55 days
Moxon owns a 10.8-percent stake in Meikles, or 27,933,226 shares.
One of Nigeria’s richest bankers, Herbert Wigwe, rakes in $9.8 million in 24 days
Wigwe’s stake in Access Holdings has grown by N7.59 billion ($9.87 million), reaching N55.89 billion ($72.7 million) .
Adidas takes $364-million hit in wake of Kanye West’s Yeezy sneakers resale
The recent downturn came shortly after the German sportswear giant announced the launch of the second sale of West’s Yeezy sneakers.
5 richest industrialists on the Nigerian Exchange
Here are the five richest industrialists on the Nigerian Exchange who have made remarkable contributions to the Nigerian economy.
Black CEO Craig Arnold rakes in $30 million in 2023
Arnold assumed the roles of chairman and CEO of Eaton on June 1, 2016. He owns a beneficial 0.13 percent stake in the power company.
Egyptian billionaire Naguib Sawiris’ net worth soars past $6 billion
This year-to-date surge marks a positive turn for Sawiris, considering his had fallen below $5 billion in the latter part of last year.
Billionaire Michael Lee-Chin-linked fund faces stunning $7-million loss
Lee-Chin is the founder of Portland Private Equity, the private equity fund company in charge of Portland JSX Limited.
Kenya’s Biwott family sells Yaya Center in multimillion-dollar deal
The late Nicholas Biwott was part of a generation of public servants who ventured into various businesses, impacting Kenya’s economy.
Africa’s first Black billionaire Patrice Motsepe hit by $200-million loss
The decline in Motsepe’s net worth can be attributed to the downturn in the market value of his 39.7-percent stake in African Rainbow Minerals.
Moroccan tycoon Anas Sefrioui’s stake in Casablanca-based firm surges by $100 million
Sefrioui, one of Morocco’s wealthiest businessmen, owns a 64.1-percent stake in the Moroccan property developer.
Swazi billionaire Natie Kirsh’s fortune plunges, losing over $500 million
The majority of Kirsh’s investments are held within his conglomerate, Kirsh Group.
5 companies linked to Egyptian businesswoman Hend El-Sherbini
Billionaires.Africa has identified and cataloged various companies and holdings linked to El-Sherbini.