Kenyan tycoon Baloobhai Patel’s Carbacid smashes expectations with $3.2-million profit in 2022
Patel owns a 49.9-percent stake in Carbacid Investments Limited.
Billionaires Africa
Nigerian banking magnate Jim Ovia’s Zenith Bank receives approval to restructure into a holding company
Ovia has been appointed as the chairman of Zenith Holdco Plc.
Microsoft joins forces with Strive Masiyiwa’s Liquid to bring Internet to underserved African communities
Liquid is a subsidiary of Cassava Technologies, a pan-African technology company.
South African billionaire Stephen Saad eyes million-dollar deals to revive COVID-19 vaccine production lines
Aspen Pharmacare Holdings is a South African multinational pharmaceutical holding company.
Nicky Oppenheimer, Africa’s third-richest man, loses $430 million in 26 days
The recent decline can be attributed to the performance of his private equity investments.
Egyptian businessman Ahmed El Sewedy’s electric company records over $185 million in profit in 2022
El Sewedy Electric specializes in the production of electrical equipment and cables.
Adidas faces $10-million loss as Beyonce’s Ivy Park fails to meet expectations
Beyonce’s success extends beyond her music empire.
Egyptian mogul Medhat Khalil’s Raya Holding signs deal to expand entrepreneurship support programs
Raya Holding is an Egyptian investment conglomerate formed in 1999 by the merger of entities owned by Khalil and Orascom Group.
Cosmetics billionaire Rihanna returns to Puma for Fenty x Puma line
Rihanna’s partnership with Puma has spanned almost a decade, beginning when she joined the German company as creative director in 2014.
Nigerian billionaire Mike Adenuga gains $22 million from stake in oil firm, Conoil
Adenuga is the founder of leading telecom service provider Globacom.
African-American professional tennis superstar Venus Williams joins private equity firm Topspin
Williams is excited to be entering a sector that historically has had little penetration from African Americans.
Aliko Dangote’s sugar business reports impressive performance as profit surpasses $110 million in 2022
Dangote Sugar Refinery is a leading sugar business.
Indian billionaire Sunil Bharti Mittal’s Airtel Africa to boost its capital expenditure to $750 million in 2023
Mittal owns an indirect 3.38-percent stake in the telecom giant.
Bernard Arnault’s LVMH sets sights on South African billionaire Johann Rupert’s Richemont
Richemont ranks as the fourth-largest luxury company globally.
GB Auto, led by the Egyptian Ghabbour family, hits historic $344-million profit mark
GB Auto is a Cairo-based automaker led by the family of the late Egyptian auto tycoon Raouf Ghabbour.
Led by Egyptian tycoon Yasmine Khamis, Oriental Weavers’ profit dives below $31 million in 2022
Oriental Weavers is a leading carpet manufacturer and distributor.