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.
Billionaires Africa
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.
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.
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.