Egyptian steel tycoon Ahmed Ezz gains $55.4 million from stake in Ezz Steel
Ezz owns 60.7 percent of the company.
Billionaires Africa
Namibian tycoon Koos Brandt’s Capricorn Group spends nearly $1 million on charity
This represents 1.3 percent of the group’s profit after tax for the period under review.
Kenyan media mogul John Kimani acquires additional $1.4-million stake in Kakuzi
Kimani recently received approval to increase his ownership to just under 40 percent.
Moroccan billionaire Othman Benjelloun’s BMCE Capital launches $4.5-million VC fund for startups
The fund will be raised from renowned Moroccan investors and institutional financial organizations.
Kenyan banker James Mwangi loses $7.14 million in seven weeks
Mwangi owns a sizable 3.38-percent stake in Equity Group.
Swazi billionaire Natie Kirsh has now lost $640 million in 15 days
Kirsh is Eswatini’s richest man.
Led by Egypt’s richest family, Orascom Construction to build strategic warehouse in Egypt
The billionaire Sawiris family owns 51.8 percent of Orascom Construction.
Egyptian entrepreneur Amir Aboul Fotouh’s Mazaya startup raises $5 million to drive expansion plans
Mazaya was founded in December 2021.
British beverage group, Diageo appoints Kenyan exec John Musunga as Guinness Nigeria CEO
Musunga is the managing director of Kenya Breweries Limited.
Namibian tycoon Quinton van Rooyen’s Trustco files lawsuit against Bank of Namibia
Van Rooyen owns 63.94 percent of Trustco.
Nigerian-Lebanese tycoon Bassim Haidar plans to launch BNPL e-commerce product in South Africa
The product will provide e-commerce suppliers with a cost guarantee.
Egyptian tycoon Ahmed El Sewedy-led El Sewedy Electric to secure $102.5-million credit facilities from seven banks
The announcement follows the receipt of a $150-million loan from the International Finance Corporation.
Johann Rupert-led Remgro plans to unbundle 25-percent stake in Grindrod to shareholders
Grindrod is a freight logistics and shipping services company owned in part by Remgro.
South African exec Josua Malherbe loses $1.4 million from Remgro stake in 17 weeks
Malherbe owns a beneficial 0.21-percent stake in the investment holding.
HRH QUEEN ER II: Death and Succession
There is a well-known phrase that states that “nothing is certain but death and taxes.”
Nigerian banking tycoon Herbert Wigwe gains $2.1 million in five days as Access Bank shares rebound
Wigwe owns a significant 4.27-percent stake in the bank.