Aliko Dangote drops out of list of top 80 billionaires as net worth slumps
The decline in his net worth can be attributed to the fall in the share price of Dangote Cement.
Billionaires Africa
Ecobank names Kenyan banking exec Jeremy Awori as CEO
Awori is joining Ecobank after 25 years in the banking industry.
South African retail mogul Mark Lamberti’s Massmart starts shutting down loss-making Game stores
Massmart is the continent’s second-largest distributor of consumer products.
Egyptian tycoon Ahmed El Sewedy’s electric firm signs contracts worth $113 million to execute Toshka Project
El Sewedy Electric is a multinational manufacturer of cables and electrical equipment.
Seplat spent $450 million in transactions linked to Nigerian energy magnates Bryant Orjiako, Austin Avuru
The payments were made to 18 firms linked to Orjiako and Avuru.
Led by Kenyan banker James Mwangi, Equity Group set to acquire Spire Bank
The acquisition could present additional challenges and opportunities to Equity Group.
Nigerian multimillionaire banker Jim Ovia loses nearly $22 million in 11 days
Ovia owns a significant 16.2-percent stake in Zenith Bank.
African-American billionaire Oprah Winfrey earns $6.6 million in profit from sale of CA property
Her primary residence is still her 66-acre “Promised Land” estate in Montecito, California.
Egyptian billionaire Nassef Sawiris’ OCI N.V. to build ammonia plant in Texas
OCI N.V. stated that the project is well under way.
Kenyan investment banker David Owino’s Ascent Capital secures $128 million to invest in small businesses
Owino founded Ascent in 2012.
Nigerian banker Tony Elumelu’s UBA posts $164 million in profit in H1 2022
Elumelu owns a sizable 6.96-percent stake in the banking group, or 2,380,941,756 ordinary shares.
Egyptian businessman Raouf Ghabbour’s GB Auto considers selling stake in leasing business to Chimera
GB Lease was founded in 2008.
Senior banking executive Jeremy Awori steps down after decade as CEO of Absa Bank Kenya
His resignation will take effect on Oct. 31.
South African tycoon Jens Montanana’s Datatec joins UN corporate sustainability initiative
Montanana founded Datatec in 1986 and owns a significant 11.98-percent stake in the group.
North African billion-dollar conglomerates shine in Forbes ranking of Arab family businesses
Arab family businesses have recently experienced a V-shaped recovery.
South African mogul Adrian Gore’s Discovery posts more than $310 million in profit in 2022
Gore’s stake in Discovery is presently valued at $320 million.