Kenyan businessman James Mwangi’s Equity targets traders with $2.1-billion fund
Mwangi owns a sizable 3.38-percent stake in Equity Group.
Billionaires Africa
Kenyan tycoon Narendra Raval’s Devki Group opens $240-million steel factory
Raval founded Devki Group with his wife in Nairobi in 1986 as a small steel-processing company.
Nigerian tycoon Temitope Lawani’s Helios buys stakes in two data centers in Kenya, Morocco
Helios Investment is one of the largest Africa-focused private investment firms.
Elon Musk’s Starlink to launch satellite Internet service in Tanzania in 2023
Starlink provides global high-speed, low-latency broadband Internet.
African-American mogul Ye to sell off Balenciaga, Adidas, Gap hoodies for $20
Since Adidas severed ties with Ye in October, his net worth has declined by $1.6 billion.
Kenyan businessman James Mwangi’s Equity posts $281 million in profit in 9M 2022
Mwangi owns a 3.38-percent stake in Equity Group.
Egyptian billionaire Nassef Sawiris gains $360 million in 22 days
Sawiris derives the majority of his fortune from his 38.8-percent stake in OCI N.V. and his six percent stake in Adidas.
South African businesswoman Noluthando Gosa’s stake in ArcelorMittal now worth $18.5 million
Gosa owns a 6.15-percent stake in ArcelorMittal South Africa.
South African billionaire Christo Wiese-linked Pepkor posts $353 million in profit in 2022
In 2014, Wiese sold Pepkor to Steinhoff International in exchange for 20 percent of Steinhoff’s issued shares.
Nigerian tycoon Tayo Amusan-led Shoprite Nigeria restates expansion plans
Shoprite Nigeria is owned by Ketron Investment Limited, an investment group led by Amusan.
South African-born billionaire Patrick Soon-Shiong’s net worth gains $370 million in 51 days
The recent increase reduced his year-to-date wealth loss to $875 million.
Africa’s richest man Aliko Dangote’s cement plans to buy back shares worth $917 million
None of Dangote Cement’s directors will take part in the share buyback program.
Kenyan entrepreneur Kageni Wilson’s Finplus crosses $1-billion transaction value mark
Kenyan entrepreneurs Kageni Wilson and Bernard Banta founded Finplus Group in 2017.
Nigerian billionaire Abdul Samad Rabiu, others raise $2.2 million for flood victims
Rabiu’s participation in the fundraising comes after he established the $23.8-million Nigeria Security Support Fund.
Moroccan billionaire Othman Benjelloun gains $200 million in four weeks
The Moroccan billionaire derives the majority of his wealth from his investment in BMCE Group.
South African billionaire Patrice Motsepe gains $270 million in 53 days from stake in ARM
Motsepe, who founded ARM in 1997 as South Africa’s first Black-owned mining company, owns 39.7 percent of the company.