Egyptian founder Mohamed Younes’ Khazenly raises $2.5 million in seed funding
Younes explained that the $2.5 million in institutional funding will help the startup build on its success in the region.
Billionaires Africa
South African Ackerman family gains $82 million as Pick n Pay shares soar by double digits
The Ackerman family owns a significant 25.53-percent stake in the leading retailer, totaling 124,677,238 ordinary shares.
Nigerian tycoon Aliko Dangote receives $21.1 million in dividends from sugar business
The sum is 33-percent less than in 2021.
Egyptian tycoon Ahmed Ezz loses $49.6 million from stake in Ezz Steel
Ezz, who founded Ezz Steel in 1994, owns 60.7 percent of the company.
South African businessman Alan Pullinger loses $4.35 million from stake in FirstRand
Pullinger owns about 0.1 percent of the leading lender, or 5,634,679 ordinary shares.
Meet the 7 richest Black women in the United States in 2022
The most recent addition to the list is U.S. businesswoman Emma Grede.
Greek magnate John Coumantaros to receive $13.4 million in Flour Mills dividends
Coumantaros owns a majority 63.34-percent stake in the agro group.
Zimbabwean billionaire Strive Masiyiwa’s ADC expands footprint with massive data center facility in South Africa
The news comes a week after ADC announced the construction of a 30-megawatt data center facility in Accra, Ghana.
Billionaire Patrice Motsepe, Agri SA launch projects to drive growth in South Africa’s agro sector
The Motsepe Foundation facilitated $4.4 million in funding for the first two projects.
Africa’s richest man Aliko Dangote restates commitment to 1.5 metric tonnes per year of sugar production
Dangote Sugar Refinery has a refining capacity of 1.44 million metric tonnes.
Nigerian mogul Tony Elumelu loses over $7.1 million as UBA shares fall from record highs
Elumelu owns a sizable 6.96-percent stake in the banking group.
Egyptian billionaire Naguib Sawiris says President Vladimir Putin ‘another Hitler in the making’
This is the latest comment by the Egyptian billionaire on the Russia-Ukraine crisis.
Ugandan magnate Patrick Bitature loses court bid to block auctioning of prime real estate assets
The ruling implies that the auction of Bitature’s real estate empire can continue.
South African billionaire Johann Rupert’s Remgro looking for equal partnership in possible Mediclinic buyout
The news comes a week after Mediclinic rejected its acquisition bid.
Kenyan tycoon Tabitha Karanja’s Keroche Breweries shut down for sixth time
Karanja founded the Kenyan brewer in 1997.
Kenyan executive Frank Aswani-led AVPA launches African Healthcare Funders Forum
AVPA has catalyzed communities of response in Africa to support various COVID-19 efforts.