Kenyan tycoon James Mwangi’s Equity Group to invest $5.7 million in insurance business
Under James Mwangi, who holds a 3.38-percent stake in the company, Equity Group witnessed a 15 percent increase in profits in 2022
Billionaires Africa
Aliko Dangote loses $400 million just one week after losing Africa’s richest crown
Dangote’s net worth has declined by a staggering $400 million within the past seven days, dropping from $10.8 billion to $10.4 billion.
Black billionaire Michael Lee-Chin faces $100-million loss this year
According to Forbes, Lee-Chin’s net worth now stands at $1.4 billion, compared to $1.5 billion at the start of the year.
Ghanaian billionaire Kevin Okyere secures $750-million loan to pump oil
Okyere is the founder of Springfield Group, one of Ghana’s few locally-owned oil exploration companies.
Africa’s richest man Johann Rupert slips by $200 million after surpassing Dangote
As a result of the $200-million dip, Rupert’s net worth slumped from $12 billion on June 16 to $11.8 billion at the time of writing.
London-based Nigerian restaurateurs smile as Beyonce donates $1 million to 10 businesses
Beyonce’s recent act of generosity follows closely after a significant milestone in her financial journey.
Scandal-plagued South African billionaire Markus Jooste faces arrest as German court takes action
This comes weeks after Jooste failed to appear in court, marking his first criminal charge since the collapse of Steinhoff.
Billionaire Gbenga Agboola’s Flutterwave and Audiomack join forces to empower artists with monetization opportunities
Agboola’s visionary leadership has propelled Flutterwave to the forefront of the African tech ecosystem.
Nigerian billionaire Abdul Samad Rabiu’s BUA Foods sustains efforts to make rice affordable
BUA Foods, under Rabiu, has maintained its dominant position in the Nigerian economy.
South African mogul Noluthando Gosa suffers $25-million loss from ArcelorMittal stake
Gosa derives the majority of her fortune from a well-diversified portfolio that includes a 6.15-percent stake in ArcelorMittal SA.
Egyptian tycoon Mostafa Kandil’s SWVL regains compliance with Nasdaq’s audit committee requirements
SWVL Holdings Corp is a global provider of tech-enabled mass transit solutions.
Egyptian tycoon Medhat Khalil’s Raya Foods considers offers to boost capital by $11.3 million
Raya Foods is a subsidiary of Raya Holdings, the investment group founded by Khalil.
Africa’s first Black billionaire Patrice Motsepe gains $200 million in 19 days
Motsepe remains one of Africa’s wealthiest businessmen and retains the title of the richest Southern African Black billionaire.
Centum, led by heirs of late Kenyan tycoon Chris Kirubi, secures SEZ license for Two Rivers development
Centum Investment, Kenya’s largest publicly traded investment firm is partly owned by Robert Kirubi and Mary-Ann Musangi.
Tanzanian gold magnate Ketan Patel loses $2.3-million on paper as Shanta Gold shares plunge
As the founder of the Tanzania-based mining company, Patel currently holds a 4.22-percent stake in Shanta Gold.
Egypt’s second-richest man Naguib Sawiris hits new milestone as net worth soars past $6 billion
Sawiris’ net worth has risen from $5.1 billion on Jan. 1 to an impressive $6.11 billion at the time of drafting this report.