Nigerian billionaire Femi Otedola’s Zenon wins $19.2-million arbitration award against Ardova
Ardova reported a $8.93-million loss for the 2021 fiscal year.
Billionaires Africa
Egyptian mogul Safwan Thabet’s Juhayna partners with KarmSolar to build solar power plant
Safwan Thabet owns a majority 50.07-percent stake in Juhayna Food Industries.
Kenyan banker Gideon Muriuki’s Co-operative Bank to aid $413-million hustler fund
Muriuki owns a two-percent stake in the leading financial services group.
Moroccan tycoon Lamia Tazi gains nearly $4.2 million in 155 days
Tazi is the chairperson and CEO of Sothema.
Mauritian tycoon Hector Espitalier-Noel’s ENL posts first profit in two years
ENL is a diversified conglomerate with more than 120 international and domestic brands.
Kanye West agrees to buy social networking platform Parler
Last week, Twitter Inc. removed an anti-Semitic post from Ye’s account.
South African tech tycoon Jens Montanana to earn $17.91 million in special dividend from Datatec
Montanana founded Datatec in 1986.
Nigerian mogul Tony Elumelu signs $1.4-million deal to empower Rwandan youths
The four-year agreement was signed through his Africa-focused non-profit, Tony Elumelu Foundation.
Kenyan businessman Andrew Ndegwa gains $3.6 million from stake in NCBA Group
Ndegwa owns 4.3 percent of NCBA Group.
Led by Egypt’s richest family, Orascom adds $670 million in new projects in Q3 2022
Through OS Private Trust Company, the billionaire Sawiris family owns 51.8 percent of the Egypt-based contractor.
Chipper Cash Founder Ham Serunjogi to donate Starlink in Uganda
At just 36 percent, Africa’s Internet penetration compares poorly with the 62.5-percent global average.
Mauritian tycoon Arnaud Lagesse-led IBL considers buying stake in Reunion Island-based retail operator
IBL Group is a leading Mauritian conglomerate and one of the island’s largest firms.
Billionaire Femi Otedola’s Geregu Power posts lower earnings amid power sector disruption
Geregu Power Plc is 80-percent owned by Otedola.
Avalara shareholders approve $8.4-billion deal with Robert Smith’s Vista Equity
Vista Equity Partners is a leading global investment firm led by America’s richest Black person, Robert Smith.
Nigerian gov’t orders immediate reopening of Dangote’s Obajana cement plant
Obajana Cement Company is majority owned and operated by billionaire Aliko Dangote’s cement company, Dangote Cement Plc.
Led by Nigerian banker Peter Ashade, United Capital posts $17.7 million in profit in 9M 2022
Ashade has been at the helm of United Capital since 2018.