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.
Billionaires Africa
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.
Moroccan businesswoman Lamia Tazi’s Sothema records over $108 million in revenue in H1 2022
Sothema produces more than 60 million units of pharmaceuticals every year.
Kenyan tycoon Narendra Raval’s Devki Steel Mills applies for electricity supply license in Kenya
Raval was reported to have a net worth of $400 million in 2015.
Egyptian mogul Medhat Khalil’s Raya to manage Zain KSA customer experience in Saudi Arabia
Raya CX will provide outsourcing services to Zain KSA.
Types of family businesses: Eternus?
The Eternus family business, like the James Bond type, is led by an authoritarian family leader.
South African exec Mike Teke’s Seriti Resources to invest $730 million in wind farm
The investment is a watershed moment for Seriti.
Mauritian Espitalier-Noel family loses $9.1 million from stake in ENL in 96 days
The family remains one of the country’s wealthiest investors.
South African-born billionaire Patrick Soon-Shiong’s net worth sheds $290 million in six days
His biotech company’s share price has dropped by more than 15 percent in the past six days.
Zambian gov’t invites Africa’s richest man Aliko Dangote to invest in agriculture
Zambian Commerce and Industry Minister Chipoka Mulenga made the declaration over the weekend.
Led by Egyptian banker Karim Awad, EFG Hermes to pay Egypt’s tax office $20.5 million in H1 2022
The figure is 72-percent higher than during the same period last year.
Egyptian mogul Safwan Thabet’s Juhayna says price increases caused revenue to exceed $270 million in H1 2022
Thabet founded the Egypt-based food products manufacturer nearly 38 years ago.
Ugandan tycoon Emmanuel Katongole’s CiplaQCIL to pay shareholders first dividend in four years
Katongole owns 2.79 percent of the company, or 101,933,042 ordinary shares.
Led by South African mogul Koos Bekker, Prosus N.V. acquires stake in Brazilian food delivery platform
Prosus N.V. was founded in 1997.
Nigerian banker Tony Elumelu commissions ultra-modern UBA Experience Center in Abuja
The center’s launch comes nearly one month after Elumelu opened a new UBA branch in Dubai.