Algerian tycoon Issad Rebrab’s Cevital partners with WEG to form electrical machinery company
The JV will produce motors for washing machines manufactured by Cevital and other partners.
Billionaires Africa
South African mogul Johann Rupert’s net worth soars by $240 million in four days
The increase in Rupert’s net worth follows a surge in Richemont shares from $10 on July 15 to $11 today.
Kenyan tycoon Suresh Bhagwanji Shah’s I&M Group receives $15-million guarantee from FMO
NASIRA is a financial program that assists young, female, migrant, and COVID-19-affected entrepreneurs.
Namibian tycoon Quinton van Rooyen loses $47 million as Trustco shares slump to all-time low
Van Rooyen owns 63.94 percent of the leading Namibian company.
Zimbabwe’s richest man Strive Masiyiwa plans to raise $500 million to expand digital infrastructure business
C5 Capital, a specialist venture capital firm, will provide the financing.
Nigerian banking mogul Herbert Wigwe’s Access Holdings raises $1.7 million to support education in Nigeria
Wigwe said the funds will serve as a foundation for attaining a better future for the nation.
Led by Nigerian banker Peter Ashade, United Capital earns more than $10 million in profit in H1 2022
Profit for the six-month period ending June 30 increased by more than 41 percent, from $7.38 million in the first half of 2021 to $10.42 million.
Michael Joseph-led Kenya Airways suspends London route ticket sales amid UK travel chaos
The recent development has the potential to significantly impact KQ’s third-quarter financial performance.
Zimbabwean billionaire Strive Masiyiwa loses $2.9 billion, reducing net worth to $1.5 billion
Zimbabwe’s richest man and one of Africa’s wealthiest men, Masiyiwa has seen his net worth fall to $1.5 billion.
Wealthy Mauritian Lagesse family loses $21 million in 74 days from IBL Group investment
However, the Lagesse family remains one of Mauritius’ wealthiest, most powerful families.
Tunisian businessman Mehdi Tamarziste gains $1.6 million in four weeks from stake in UBCI
The market value of his stake in the group places him among the richest investors on the Tunis Stock Exchange.
Is the African Union passport a potential game changer?
The African Union passport is a common passport document set to replace existing nationally issued AU member-state passports.
Moroccan PM Aziz Akhannouch’s net worth slumps by $300 million
Akhannouch derives the majority of his fortune from Akwa Group.
Meet Noluthando Gosa, South African businesswoman who owns $21-million stake in ArcelorMittal
Gosa leads Likamva Resources and Akhona Group.
Tanzanian Rajabali brothers lose $1.3 million after CRDB shares fall from record highs
Aunali and Sajjad Rajabali own a combined 2.6 percent stake in the Dar es Salaam-based CRDB Bank.
Egyptian tech tycoon Mostafa Kandil’s Swvl partners with German gov’t to power electric shuttles
Swvl is a global provider of transformative tech-enabled mass transit solutions.