Aga Khan IV-backed Jubilee completes sale of majority stake in Mauritian insurance subsidiary to Allianz
Aga Khan IV, Shah Karim al-Husayni, owns 37.98 percent of Jubilee Holdings and 11.85 percent of its Mauritian subsidiary.
Billionaires Africa
Kenyan court freezes Ronald Karauri’s SportPesa license amid ownership tussle
The SportPesa brand was relaunched by Milestone Games.
Nigerian mogul Tony Elumelu signs $20-million deal to support African entrepreneurs
Elumelu has played a key role in assisting young entrepreneurs.
South African billionaire Nicky Oppenheimer’s net worth slumps by $380 million so far in September
Oppenheimer still remains one of the continent’s wealthiest businessmen.
Nigerian banking tycoon Herbert Wigwe’s Access Holdings receives CBN approval to launch payment subsidiary
Wigwe owns 4.26 percent of the pan-African conglomerate.
Namibian tycoon Koos Brandt’s Capricorn Group posts $64 million in profit in 2022
Capricorn Group is a financial services conglomerate based in Namibia, Botswana, and Zambia.
French financier Proparco acquires shares in Mauritian magnate Dominique Galea-led insurer, MUA Ltd.
Proparco will become the regional insurance group’s largest investor.
Egyptian tycoon Ahmed El Sewedy’s electric company signs $21.5-million contract with EIPICO
The contract for the construction of EIPICO Factory 3 was signed through Rowad Modern Engineering.
South African tech tycoon Zak Calisto’s stake in Karooooo slumps by $106 million
Calisto founded Karooooo, a global mobility software as a service (SaaS) platform, in 2001.
Billionaire Robert Smith’s Vista Equity offers $4.22 billion to acquire Florida cybersecurity firm, KnowBe4
Vista Equity Partners has formed a special committee to oversee the acquisition.
Tanzanian billionaire Rostam Aziz acquires majority stake in Dar es Salaam-based aviation firm
Aziz’s arrival could increase competition in the industry.
Elon Musk’s SpaceX in talks with officials to launch satellite Internet in Zambia
SpaceX founder Elon Musk said he is excited about the opportunity.
Led by Egyptian magnate Abdallah Sallam, MNHD to execute $77.2 million construction works in Cairo
Sallam controls a five-percent stake in MNHD.
Led by wealthy Ivorian Billon family, Palmci’s market cap slumps by $58.9 million in 138 days
Jean-Louis Billon has been instrumental in the growth of Palmci.
Nigerian tycoon Herbert Wigwe to pocket $700,000 in interim dividends from Access Holdings
Access Holdings is Nigeria’s largest financial services group in terms of assets.
Africa’s second-richest man Johann Rupert loses $690 million in seven days
Despite his year-to-date wealth loss, Rupert remains not only one of Africa’s richest men, but also one of the world’s richest billionaires.