Africa to produce more billionaires than U.S., UK over next decade, new report reveals
The recent forecast comes amid changing dynamics in developed economies.
Billionaires Africa
Egyptian billionaire Nassef Sawiris loses $840 million in 12 days as shares of OCI, Adidas fall
Sawiris’ stakes in Adidas and OCI N.V. are now worth $2.11 billion and $2.26 billion, respectively.
Egyptian businessman Medhat Khalil’s Raya Holding unveils expansion plans for new unit
Raya Holding is an Egyptian investment conglomerate.
Algerian media mogul Anis Rahmani jailed for graft
Rahmani, the head of Ennahar, had been on trial for violation of foreign exchange regulations.
Mauritian Doger de Speville family loses $2-million in 32 days
Despite the recent decline in the market value of his stake, the family remains one of Mauritius’ wealthiest.
South African billionaire Patrice Motsepe looks to boost clean power generation sevenfold across Africa
The news comes a year after the his energy firm acquired a strategic 40-percent stake in SOLA Group.
Neal Froneman’s Sibanye-Stillwater to restart South African gold operations
The news comes after the group signed a three-year wage agreement with its gold mine workers.
Kenyan businessman Joe Wanjui sues British multinational firm Unilever over sale of stakes in Limuru Tea
Wanjui derives his wealth from a diversified investment portfolio.
South African businessman Andre Du Plessis loses $14.1 million in nearly two weeks
Du Plessis co-founded Capitec Bank in 2001.
Nigerian billionaire Abdul Samad Rabiu overtakes telecom mogul Mike Adenuga in Forbes ranking
Rabiu is now Africa’s fifth-richest man.
Tunisian tycoon Abdelwaheb Ben Ayed’s Poulina Group reports $947.7 million in revenue in 2021
Ayed owns a beneficial 3.4-percent stake in the conglomerate.
Nigerian billionaire Mike Adenuga’s net worth slumps by $200 million since start of 2022
Adenuga derives the majority of his wealth from his telecom company and his investments in the Nigerian oil industry.
Shell to receive final bids from Nigerian mogul Tony Elumelu’s oil firm, others for $2.3-billion oil assets
The move comes nearly a year after the British energy giant announced plans to divest its interests in Nigeria.
Egyptian businessman Medhat Khalil’s Raya Holding partners with Huawei to build sustainable data centers
Raya Holding is a leading brand in Egypt, with its operations generating a net profit of $34.5 million in 2021.
Malagasy tycoon Hassanein Hiridjee’s AXIAN invests in Egyptian tech fund
Hiridjee controls AXIAN, one of Madagascar’s largest conglomerates.
Queen’s bank honors Somali tycoon Abdirashid Duale for contribution to financial sector
His company Dahabshiil has grown into a leading African money transfer business.