Led by Egypt’s richest family, Orascom Construction smashes expectations with $134 million in profit in 2022
Orascom Construction is majority-owned by the Sawiris family through their private investment vehicle OS Private Trust Company.
Billionaires Africa
Hitesh Anadkat, one of Malawi’s richest businessmen, amasses $73-million fortune in one year through FMB Capital stake
Anadkat’s stake in FMB Capital has risen significantly, firmly establishing him as one of Malawi’s richest men.
Tunisian tycoon Abdelwaheb Ben Ayed loses $1.65 million from stake in Tunis-based conglomerate
Ben Ayed owns a 3.4-percent stake in Poulina Group.
Meet Richmond Bassey, Nigerian entrepreneur making investment opportunities more accessible for Africans
Bassey is revolutionizing the way Africans can invest in the global capital market.
Kanye West’s net worth dips below $400 million as he suffers $2-million loss
West is one of the world’s richest Black people.
Mauritian tycoon Arnaud Mayer’s Evaco surpasses $9 million in revenue in H1 2023
Mayer founded Evaco Group as a real estate development company in 2001.
Kenyan businessman Baloobhai Patel acquires additional $1.38-million stake in Co-op Bank
Patel has solidified his position as a major player in the Kenyan financial sector with his latest acquisition.
Basketball legend Michael Jordan gains $300 million as net worth hits $2 billion
Jordan is the first athlete to amass a billion-dollar fortune.
Egyptian businessman Hisham Talaat Moustafa to pocket $5.5 million in dividends from real estate conglomerate
Moustafa is one of the richest investors on the Egyptian Exchange.
South African-born billionaire Patrick Soon-Shiong has now lost $820 million so far in 2023
Soon-Shiong is best known for developing the cancer treatment Abraxane.
Herbert Wigwe meets French ambassador to Nigeria amid plans to launch new Access Bank unit in France
This is Wigwe’s second meeting with the ambassador this year.
Kenyan tycoon Gideon Muriuki-linked insurance firm CIC Group reaches record profits of $8 million in 2022
Muriuki is expected to receive $136,800 from his stake in CIC Insurance Group.
Mauritian tycoon Arnaud Lagesse’s IBL strikes major deal to revolutionize East Africa’s energy sector
IBL Group is a global leader, with more than 200 brands in 19 countries.
Nigerian tycoon Tony Elumelu’s UBA stake plummets $4.1 million in just three weeks
Elumelu has seen a sharp decrease in his net worth in the past three weeks.
Egyptian entrepreneur Mostafa Kandil’s SWVL loses unicorn status as market cap declines by $1.36 billion
SWVL’s $1.36-billion crash has caused investors to suffer millions of dollars in losses.
Zimbabwean billionaire Strive Masiyiwa’s Liquid acquires Cairo-based cybersecurity provider, Cysiv MEA
Masiyiwa’s Liquid Intelligent Technologies plans to augment its cloud and cybersecurity identity with Cysiv MEA integration.