Ethiopia’s richest man Mohammed Al-Amoudi loses nearly $1 billion this year
Al-Amoudi has lost his position as Africa’s sixth-richest man to Nigerian billionaire Mike Adenuga.
Billionaires Africa
South African Saltzman family loses $145 million in two months from Dis-Chem stake
Over the years, Dis-Chem Pharmacies has grown into one of South Africa’s leading retail healthcare groups.
Kenyan banking magnate James Mwangi loses more than $6 million in June
Mwangi’s loss comes on the heels of a reduced appetite for emerging market shares.
Kenyan businessman Paul Ndung’u takes legal action over control of SportPesa assets
The move comes nearly two years after the SportPesa brand was relaunched.
Cosmetics billionaire Rihanna’s net worth slumps by $300 million so far in June
However, she remains America’s second-wealthiest Black woman.
Egyptian entrepreneur Mounir Nakhla’s MNT-Halan acquires e-commerce platform, Talabeyah
The acquisition aligns with the fintech firm’s strategic expansion plans as it moves to deliver value.
Cameroonian tycoon Samuel Foyou prepares to launch brewing company
Foyou’s Brasaf will officially launch its first beer containing 75 percent malt and 25 percent corn on June 30.
Wealthy South African Mouton family loses $40 million in less than 10 weeks as PSG shares fall
The South African Mouton family owns 24.5 percent of the company.
Nigerian billionaire Abdul Samad Rabiu loses $500 million in less than 30 days
Rabiu derives most of his fortune from his 98-percent stake in BUA Foods and 92-percent stake in BUA Cement.
South African tycoon Adrian Gore’s Discovery announces secondary listing on A2X Markets
A2X Markets is a Sandton-based stock exchange founded in 2014.
Egyptian mogul Safwan Thabet’s Juhayna reports $7.5 million in profit in Q1 2022
Thabet owns a majority 50.07-percent stake in the group.
Court of Appeal blocks sale of real estate assets owned by Ugandan magnate Patrick Bitature
The decision comes at a crucial time for Bitature.
Zimbabwean billionaire Strive Masiyiwa loses $2.5 billion amid stock market sell-off
The slump in his net worth can be attributed to a plunge in the shares of his publicly traded companies.
Moroccan real estate billionaire Alami Lazraq loses $25 million in 55 days
Lazraq owns 51.7 percent of Casablanca-based property developer Alliances Developpement Immobilier SA.
Oprah Winfrey has now lost more than $100 million since beginning of 2022
Her net worth has dropped from $2.6 billion to $2.5 billion.
Mauritian tycoon Arnaud Lagesse-led IBL Group buys stake in leading Kenyan supermarket chain
The transaction highlights Naivas’ intrinsic value as Kenya’s largest supermarket chain.