Billionaire Femi Otedola’s Geregu Power posts lower earnings amid power sector disruption
Geregu Power Plc is 80-percent owned by Otedola.
Billionaires Africa
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.
Prosus N.V., led by South African billionaire Koos Bekker, to sell Russian internet marketplace Avito for $2.4 billion
Bekker’s 0.84-percent stake in Prosus is worth $588 million.
Egyptian entrepreneur Ahmed Sabbah’s Telda secures $20 million from investors
Sabbah ranks among Africa’s top tech founders.
Billionaire Abdul Samad Rabiu to build $2.3-million amphitheater building in Nigerian university
Rabiu is the chairman of BUA Group.
London-based Egyptian tycoon Mohamed Al Fayed’s net worth slumps by $200 million
Al Fayed amassed the majority of his fortune from the sale of his shares in Harrod’s.
South African businessman Andre Du Plessis gains $12.8 million in two weeks
Du Plessis co-founded Capitec Bank in 2001.
South African mogul Zak Calisto’s Karooooo reports nearly $17.1 million in profit in H1 2023
Karooooo is a leading provider of smart transportation management and analytics.
Nigerian billionaire Femi Otedola’s Geregu Power sheds $62 million in 24 hours
Geregu Power is majority owned by Nigerian billionaire Femi Otedola.
Egyptian businesswoman Hend El-Sherbini’s IDH to roll out three new scan centers in 2023
El-Sherbini explained that the ramp-up strategy will create added value for IDH.
Moroccan tycoon Hassane Amor has now lost $25.7 million from stake in Microdata
As the company’s founder and chairman, he owns 56.17 percent of the Casablanca-based IT services business.
Gaming tycoon Kunle Soname’s airline ValueJet begins operations in Nigeria
Soname stated: “ValueJet is hardly a stranger in the industry.”
Africa’s richest man Aliko Dangote’s group says $19-billion oil refinery is 97-percent complete
The refinery project has been long hampered by a number of factors.
South African tech tycoon Jens Montanana’s Datatec to pay shareholders $149.5 million in special dividend
Montanana is Datatec’s founder and CEO.