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.
Billionaires Africa
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.
South African-born billionaire Patrick Soon-Shiong’s year-to-date wealth loss exceeds $1.1 billion
Soon-Shiong remains one of the richest businessmen in the world.
Cement plant owned by Aliko Dangote’s Dangote Cement under ‘lock and key’ as state gov’t plans recovery
The Obajana Cement Factory opened in 2008.
Egyptian billionaire Naguib Sawiris’ Orascom plans to establish four new hotels in Egypt
Orascom Investment Holding reported a consolidated profit of $4.83 million in the first half of 2022.
South African mogul Neal Froneman-led Sibanye-Stillwater eyes Zambia’s Mopani Copper Mines
Froneman’s 0.074-percent stake in Sibanye-Stillwater is now worth more than $5.2 million.
Senegalese-born TikToker Khaby Lame becomes Qatar Nat’l Bank’s World Cup ambassador
Lame has over 150 million TikTok followers.
Tanzanian billionaire Mohammed Dewji says food insecurity is Africa’s biggest threat
The billionaire believes that drastic measures are required to ensure food security on the continent.
South African retail mogul Mark Lamberti’s Massmart plans to shut down Game stores in East, West Africa
Massmart is Africa’s second-largest distributor of consumer products.
Egyptian billionaire Naguib Sawiris confirms no current plans to list Ora Development on EGX
In the last two years, Sawiris’ net worth has grown by $400 million.
Within 24 hours of NGX listing, Nigerian billionaire Femi Otedola’s Geregu Power gains $120 million
Geregu Power is majority owned by Otedola.
South African billionaire Nicky Oppenheimer’s net worth slumps by $100 million in 2022
Despite the slump in his net worth, Oppenheimer still ranks as the second-richest man in South Africa.
South African billionaire Michiel Le Roux’s Capitec Bank secures license for life insurance business
Le Roux owns 11.41 percent of the South African bank.
Nigerian banker Herbert Wigwe’s Access Holdings to become majority shareholder in Finibanco Angola
Wigwe owns 4.26 percent of the pan-African conglomerate.