South African billionaire Patrice Motsepe loses over $320 million in less than one month
Motsepe, the South African billionaire and current President of the Confederation of African Football (CAF) founded the mining firm in 1997.
Billionaires Africa
Nigerian billionaire Abdul Samad Rabiu’s BUA Cement posts $79.7 million in profit in Q1 2022
The result suggests that it is on track to deliver yet another record performance at the end of Q2 2022.
Tanzanian gold magnate Ketan Patel gains over $2.2 million in 81 days as Shanta Gold shares increase by 57.5 percent
The leading Tanzanian gold magnate owns a substantial 4.22-percent stake in Shanta Gold Limited.
Egyptian tycoon Hend El-Sherbini’s IDH reports $80 million in profit as COVID-19 tests drive growth
IDH is a leading consumer healthcare group in the Middle East and Africa.
Africa’s richest man, Aliko Dangote, gains $500 million in 14 days, as cement company shares skyrocket
His year-to-date wealth gains are now $1.33 billion.
Nigerian tycoon Obafoluke Otudeko gains $6 million in 17 days from flour-milling business, Honeywell
The recent increase in Otudeko’s stake can be attributed to a 13.9-percent increase in the company’s stock price.
Zimbabwean multimillionaire John Moxon’s son joins Meikles as an executive director
Meikles is a well-diversified conglomerate with holdings in hotels, retail, supermarkets, agriculture and financial services.
Widow of late Tanzanian billionaire Reginald Mengi continues fight over inheritance
Jacqueline Mengi has won another obstacle in her efforts to fight for the control of the deceased’s estate.
South African tech billionaire Mark Shuttleworth plans to list Canonical in 2023
Shuttleworth plans to list Ubuntu software maker Canonical in 2023.
British bank Barclays sells $687-million stake in Arrie Rautenbach-led Absa Group
Absa Group shares have fallen by more than four percent since the opening of the Johannesburg Stock Exchange this morning.
Egyptian billionaire Yasseen Mansour’s Palm Hills acquires additional stake in Incolease
The market value of Mansour’s 4.68-percent stake in Palm Hills Development is now valued at $11.96 million.
Mauritian tycoon Hector Espitalier-Noel’s ENL rebounds, earnings surpass $8 million in H1 2022
The Mauritius-based group is led by Espitalier-Noel, who has a 9.92-percent beneficial stake in the company.
TFL, an Egyptian cloud kitchen led by Kareem El-Daly, raises $4.5 million in pre-seed funding
TFL was founded in 2020 by El Daly, Ahmed Osman, and Wesam Masoud to deploy technology to assist restaurants.
Olugbenga Agboola, billionaire CEO of Flutterwave, responds to allegations of misconduct
In an email sent to employees, Agboola did not reveal any new information or admit to any wrongdoing.
Egyptian businessman Hani Berzi eyes $4.5-million dividend from stake in Edita Food Industries
The dividend will be paid from the group’s retained earnings of $103.8 million.
Kenyan banker Gideon Muriuki buys $100,000 shares in CIC Insurance
Muriuki now controls 137.8 million shares in the company.