Patrice Motsepe-linked TymeBank finalizes $86.8-million acquisition of Retail Capital
ARC Financial Services Holding, a company founded by Motsepe, owns a stake in TymeBank.
Billionaires Africa
Egypt’s richest man Nassef Sawiris gains $580 million as net worth surpasses $7.2 billion
The Egyptian billionaire derives most of his wealth from his investments in OCI N.V. and Adidas.
Moroccan pharma mogul Lamia Tazi’s Sothema acquires stake in European startup
The French startup Ziwig is revolutionizing medical diagnostics.
James Mwangi-led Equity Group to pay KRA $91.6 million as corporate taxes in 9M 2022
Equity Group is the largest financial services conglomerate in East Africa.
Aliko Dangote’s Dangote Cement has invested more than $90 million in its Ethiopian unit
Its $90-million investment in Ethiopia has helped solidify its position in the country.
South African billionaire Johann Rupert’s net worth nears $11 billion
Rupert’s net worth has risen from $8.5 billion on Nov. 3 to $10.8 billion at the time of writing.
Egyptian billionaire Naguib Sawiris’ Orascom recovers sharply as profit soars above $10 million
Orascom Investment Holding maintains investments in the telecom, media, and technology sectors.
Meet Tope Awotona, the only African tech founder who became billionaire this year
Awotona’s majority stake in Calendly is worth at least $1.4 billion.
Nigerian billionaire Abdul Samad Rabiu’s cement firm pays workers $10.7 million in salary in 9M 2022
Rabiu derives the majority of his fortune from his 92-percent stake in BUA Cement.
Afreximbank set to buy shares in Geregu Power, Femi Otedola’s power-generating firm
Geregu is one of Nigeria’s largest power-generating enterprises.
Widow of late Tanzanian billionaire Reginald Mengi suffers legal setback in inheritance row
Tanzanian billionaire Reginald Mengi died on May 2, 2019, in Dubai, UAE.
Egyptian steel tycoon Ahmed Ezz’s Ezz Steel posts record profit thanks to higher output
Ezz owns 60.7 percent of Ezz Steel.
Israeli billionaire Dan Gertler to receive $250 million from Congolese govt
Gertler is the founder and president of DGI Group.
Nigerian banker Herbert Wigwe’s Access Holdings set to launch new European unit
Wigwe owns a 4.51-percent stake in the financial services group.
Issad Rebrab’s Cevital opens multimillion-dollar electric motors factory in Algeria
The launch of the plant comes five months after Rebrab stepped down as CEO of the group.
Mike Teke’s firm Seriti leads charge in South Africa’s green energy transition
Teke, CEO of Seriti Resources, said the deal will facilitate the decarbonization of South Africa’s energy grid.