Nigerian tech tycoon Mitchell Elegbe’s Interswitch to start paying allowances to employee spouses
Interswitch did not specify how much it will pay or the range of pay.
Billionaires Africa
Dutch-Nigerian tycoon Cornelius Vink-linked Titan Trust Bank secures $300 million from Afreximbank
Titan Trust Bank is one of many subsidiaries of Tropical Genera Investment Group.
Led by Egyptian exec Karim Awad, EFG Hermes issues $26.8-million bond
The bond has a credit rating of “A-” from Middle East Ratings and Investor Services.
South African billionaire Michiel Le Roux gains $135 million in 35 days, net worth nears $2 billion
Le Roux owns 11.41 percent of the leading banking group.
Wealthy Kenyan Ndegwa family gains $3.1 million from stake in NCBA Group
The Ndegwa family owns 12.52 percent of NCBA Group, which is worth more than $45 million.
Egyptian mogul Ahmed Ezz’s steel company records more than $65 million in profit in Q1 2022
Ezz owns a majority 60.7-percent stake in Ezz Steel.
Nigerian billionaire Abdul Samad Rabiu gains half a billion dollars off back of stake in BUA Cement
The total value of Rabiu’s shares in publicly traded companies is now more than $8.6 billion.
South African billionaire Stephen Saad loses more than $250 million from Aspen Pharma stake
Saad owns a 12.5-percent stake in Aspen Pharmacare Holdings, worth $566 million.
Moroccan PM Aziz Akhannouch’s Maghreb Oxygene reports $7.6 million in profit in Q1 2022
Akhannouch is a leading businessman who was appointed prime minister of Morocco in September 2021.
Egyptian mogul Khaled Mahmoud’s MM Group reports 60-percent slump in earnings in Q1 2022
Mahmoud owns a significant 10.13-percent stake in the company, worth nearly $13 million.
South African mogul Nicky Oppenheimer’s net worth increases by $825 million in 2022
Oppenheimer is one of a handful of African billionaires whose fortunes have grown significantly in 2022.
Egyptian multimillionaire Medhat Khalil’s Raya Holding to sell stake in Ostool Transport in $14.3-million deal
Raya Holding has grown into a leading brand in Egypt since its formation in 1999.
Mauritian magnate Dominique Galea-led insurer MUA announces $10-million equity investment
Galea owns 15.43 percent of the insurer, worth $25.5 million.
Burkinabe mogul Idrissa Nassa’s Coris Bank launches $13-million Ivory Coast headquarters
Nassa s one of the richest men in Burkina Faso.
Segun Agbaje-led Guaranty Trust receives CBN approval to launch payment subsidiary
HabariPay will help expand the group’s services to largely underserved markets.