Egyptian billionaire Nassef Sawiris gains $370 million as net worth rebounds above $6.5 billion
The majority of Sawiris’ fortune stems from his 38.8-percent stake in OCI N.V. and his six-percent stake in Adidas.
Billionaires Africa
British-Nigerian entrepreneur Ladi Delano’s Moove secures $16.6 million to scale up UK operations
Founded by Delano and Jide Odunsi in 2020, Moove has successfully scaled to nine markets across Sub-Saharan Africa and India.
Mukuha family-linked retailer Naivas to open four new branches in Kenya
Naivas Supermarket is Kenya’s largest supermarket chain.
Zimbabwean tycoon John Moxon gains $2 million from stake in Harare-based firm
Moxon owns 10.8 percent of Meikles Limited.
Cameroonian businessman Paul Fokam’s Afriland launches Togo investment holding
Fokam is one of Africa’s richest men.
35-year-old son of Egyptian billionaire Mohamed Al Fayed plans to launch UAE space business
He is set for an entry into the region through his Swiss-based firm, Earth Space Technical Ecosystem Enterprises.
James Mwangi’s Equity Group proposes plan to support 5 million small businesses
Mwangi owns 3.38 percent of the financial services group.
Nigerian billionaire Abdul Samad Rabiu gains nearly $1 billion in 27 days as BUA Cement shares rebound
Rabiu derives the majority of his fortune from his 92-percent stake in BUA Cement.
South African businessman Fleetwood Grobler-led Sasol declares force majeure due to Transnet strike
Sasol operates in 33 countries and employs 30,100 people globally.
Egyptian magnate Abdallah Sallam’s MNHD partners with DMC in $19-million deal
Sallam’s five-percent stake in MNHD is now valued at $13.85 million.
Led by South African Ackerman family, Pick ‘n Pay posts $19 million in profit in H1 2023
The Ackerman family owns a 25.53-percent stake in Pick ‘n Pay.
Moroccan real estate billionaire Alami Lazraq loses $8.3 million in 16 days from stake in ADI
ADI is an active member of the Alliances Group.
South Africa’s second-richest man Nicky Oppenheimer gains $100 million in 19 days
Oppenheimer also owns South Africa’s largest private game reserve, Tswalu Kalahari.
Egyptian billionaire Naguib Sawiris’ Orascom approves $79-million loan by North Korea-based unit
Orascom Investment Holding maintains investments in the telecom, media, and technology sectors.
Kenyan banking magnate Jimnah Mbaru entangled in child support dispute with 24-year-old
Mbaru is one of Kenya’s wealthiest businessmen.
Somali tycoon Abdirashid Duale says cost of living crisis has hurt remittances in Africa
Under the leadership of Duale, Dahabshiil has grown into the largest money transfer business in Africa.