Nigerian billionaires Abdul Samad Rabiu, Tony Elumelu, others, receive national honors
The men have played seminal roles in the development of Nigeria’s economy.
Billionaires Africa
Ugandan tycoon Sudhir Ruparelia-linked Crane Bank loses $212.5 million against dfcu Bank
Ruparelia had a $1.1-billion net worth in 2012.
Tunisian businessman Habib Essayeh loses $4.4 million in 47 days from stake in Euro-Cycles
Essayeh owns a sizeable 33.6-percent stake in the Tunis-based firm.
African Bank secures approval to acquire Johann Rupert-linked Grindrod in $97-million deal
Grindrod Limited is owned in part by Remgro Limited, Rupert’s investment holding.
Nigerian billionaire Mike Adenuga’s Globacom launches payment service bank
Globacom is Nigeria’s second largest mobile telecom company.
Serena Williams’ VC firm backs Nigerian entrepreneur Preston Ideh’s Stears
Ideh said the funds will be used to broaden Stears’ product breadth.
South African billionaire Michiel Le Roux gains $157 million as Capitec shares rebound from record lows
Le Roux owns 11.36 percent of the Stellenbosh-based banking group.
Nigerian billionaire Femi Otedola’s Geregu Power posts $47 million in profit in 2021
Geregu Power is 80-percent owned by Otedola.
Kenyan tycoon Suresh Bhagwanji Shah loses over $6.2 million since start of 2022
Since its founding by Shah in 1974, I&M Group has expanded its operations to other East African countries.
Botswana tycoon Gulaam Abdoola’s Turnstar Holdings expects pre-tax earnings to decline by 11.5 percent
Abdoola is the company’s largest individual shareholder.
Zimbabwean billionaire Strive Masiyiwa’s net worth slumps by $3.1 billion in 162 days
Masiyiwa is Zimbabwe’s wealthiest man.
Nigerian gaming tycoon Kunle Soname’s ValueJet to commence regional flights this week
Soname’s move into the aviation sector is aimed at helping to lower the cost of airline tickets for Nigerians.
Egyptian mogul Safwan Thabet loses $39 million in 139 days from stake in Juhayna
Thabet owns 50.07 percent of the Egyptian-based consumer goods producer.
Egyptian tycoon Hend El-Sherbini’s IDH launches sixth Al-Borg Scan branch in Cairo
El-Sherbini controls a 26.1-percent stake in the group.
Nigerian businessman Tony Elumelu pledges support to female farmers
Elumelu has played a crucial role in supporting young businesspeople in Africa.
Malawian multimillionaire Hitesh Anadkat gains $17.2 million from stake in FMB Capital
Anadkat owns 35.51 percent of the Port Louis-based firm.