Egyptian tycoon Ahmed El Sewedy’s electric company completes bus charging units in Cairo
El Sewedy Electric is a multinational cable and electrical equipment manufacturer.
Billionaires Africa
Kenyan banker Gideon Muriuki’s Co-operative Bank posts $95.6 million in profit in H1 2022
Its profit rose by more than 55 percent to $95.7 million.
Nigerian banker Jim Ovia to pocket $3.6 million in interim dividends from Zenith Bank
The news puts his total dividend earnings from Zenith Bank this year at $17.7 million.
Mombasa-based businessman Ramesh Malde’s Pwani Oil buys stationery firm
Pwani Oil Products is a Kenyan company owned by Mombasa-based tycoon Malde and his family.
South African billionaire Johann Rupert’s Richemont to sell stake in loss-making YNAP to Fartech, Emirati tycoon
Richemont will examine the fair value write down pertaining to its investment in YNAP at $2.7 billion.
Zimbabwean billionaire Strive Masiyiwa’s net worth slumps by $3.1 billion in nearly four months
Masiyiwa’s fortune is made up of his 52.85-percent stake in Econet Zimbabwe and 30-percent stake in EcoCash Holding.
Egyptian billionaire Yasseen Mansour, Ahmed El-Sewedy donate $5.9 million to build Cairo monorail
Egypt’s first monorail, worth $4.5 billion, will be finished by 2023.
Moroccan businesswoman Lamia Tazi’s Sothema reveals plan to set up operations in Central Africa
Sothema is Morocco’s leading healthcare firm.
Uganda’s richest investor Charles Mbire acquires additional 2.26 million shares in MTN Uganda
Mbire is anticipated to receive $1.16 million from the telecom group’s interim dividend payout.
South African-born billionaire Patrick Soon-Shiong rents out part of vaccine plant as demand declines
Earlier this year, ImmunityBio opened a plant in South Africa under the name Nant SA.
Nigerian banking tycoon Jim Ovia’s Zenith Bank posts $264 million in profit in H1 2022
The increase in the bank’s profit can be attributed to a 17-percent rise in its gross earnings.
Egyptian fintech founder Ashraf Sabry gains $1.6 million in 38 days from stake in Fawry
The bump in the market value of his stake cements his position as one of the richest investors on the Egyptian Stock Exchange.
Indian-Kenyan entrepreneur Kamal Budhabatti’s Little reveals plan to build $6-million office in Nairobi
Budhabhatti said the office building’s estimated construction cost of $6 million will be financed internally.
South African mogul Adrian Gore’s Discovery partners with BlackRock to launch new asset management entity
Gore revealed that the move is a strategic attempt to deliver value.
Led by Kenyan banker James Mwangi, Equity Group posts over $200 million in profits in H1 2022
Mwangi’s 3.38-percent share in Equity Group is valued at $51.3 million at the current market price.
Tanzanian businessman Ketan Patel’s gold company looks to take over West Kenya gold licences
Shanta Gold will take over seven prospecting licenses for the West Kenya project.