Egyptian mogul Medhat Khalil’s Raya Holdings becomes full owner of Haier-Raya Electric
Khalil owns 58.1 percent of Raya Holding for Financial Investments.
Billionaires Africa
Segun Agbaje-led GTCO reports slight rise in earnings as profit nears $300 million in 9M 2022
Earnings during the first nine months of 2022 were significantly impacted by rising operating costs and tax obligations.
Adidas terminates partnership with African-American billionaire Kanye West
The decision will cost Adidas up to $247 million in earnings this year.
Egyptian tycoon Hassan Allam’s company to invest up to $150 million in Morocco
Hassan Allam Holding is one of the largest privately held corporations in Egypt.
South African billionaire Koos Bekker loses $345.5 million in 110 days from stake in Prosus
Naspers is a top cable TV operator and e-commerce investor.
Abdul Samad Rabiu overtakes Mike Adenuga to reemerge as Nigeria’s second-richest billionaire
Rabiu’s net worth has recently risen above $5.6 billion.
Botswana-based mogul Jonathan Gibson gains $1 million from stake in Chobe Holdings
Gibson is Chobe’s deputy chairman and CEO.
Egyptian billionaire Naguib Sawiris looks to invest $100 million in Morocco’s tech sector
Sawiris recently announced the planned investment move.
Nigerian billionaire Tony Elumelu’s UBA posts $265.6 million in profit in 9M 2022
Elumelu owns a sizable 6.39-percent stake in the financial services group.
Zimbabwean social entrepreneur Tsitsi Masiyiwa launches AGI to tackle gender inequality in Africa
AGI was introduced more than seven months after Masiyiwa, along with other notable businesswomen and philanthropists launched a $1 billion gender fund.
Egyptian tycoon Ahmed El Sewedy’s electric company denies arranging $254-million credit facility
El Sewedy Electric is one of the leading players in Egypt’s electrical equipment manufacturing industry.
Centum, controlled by family of late tycoon Chris Kirubi, set to repay $19-million debt
Following Kirubi’s demise, his son Robert Kirubi and daughter Mary-Ann Musangi received 80 percent of his fortune.
Somali tycoon Ismail Ahmed’s Zepz to end 2022 in profit
Zepz reported a loss of $151 million at the end of its fiscal year in 2021.
Startup led by three Egyptian entrepreneurs raises $3.5 million eight months after launch
Kenzz aims to deepen e-commerce adoption in Egypt.
Nigerian investment banker Peter Ashade’s United Capital gains $29 million in 18 days
Ashade has been at the helm of United Capital since 2018.
Moroccan tycoon Othman Benjelloun on verge of losing ‘billionaire’ status
BMCE Group is Morocco’s largest financial services provider.