Nassef Sawiris, Egypt’s richest man, is now richer than Canadian billionaires Linda Campbel and Gaye Farncombe
Sawiris’ net worth has recently risen due to a surge in the value of his industrial assets.
Billionaires Africa
Kenyan businessman James Mwangi’s Equity Group signs MOU with Uganda National Oil Company
Equity Bank Uganda is one of many operating subsidiaries of Equity Group Holdings.
Controlled by Kenya’s richest men, Britam Holdings completes sale of $121-million stake in Equity Group
Munga is a non-executive director at Britam and a co-founder and former chairman of Equity Group Holdings.
Umba, an African startup led by U.S. entrepreneur Tiernan Kennedy, raises $15 million
Tiernan Kennedy founded Umba with Barry O’Mahony to provide an ecosystem of connected financial services.
South African billionaire Michiel Le Roux eyes $22 million in Capitec Bank dividends in May
The 73-year-old businessman who founded Capitec Bank owns a sizeable 11.41 percent stake in the bank.
Kenyan businessman Vimal Shah’s Bidco Africa, 25 others invest $1.6 billion in DRC
Bidco Africa is a multinational consumer goods company.
UAE’s largest bank, FAB, has withdrawn its offer for majority stake in Karim Awad’s EFG Hermes
The disclosure comes two months after the bank announced its plan to acquire a 51-percent stake in EFG Hermes Holding.
Mr. Price to acquire Laurence Wernars’ Studio 88 Group for $225 million
Studio 88 group is the biggest independent retailer of branded leisure, lifestyle, and sporting apparel and footwear in South Africa.
South African executive Gerrie Fourie receives salary of $6.3 million from Capitec Bank in 2022
Fourie, the current CEO of Capitec Bank, has received millions of dollars in compensation from the bank since joining the leading financial services provider in 2014.
Nigerian billionaire Abdul Samad Rabiu eyes $151.6 million in BUA Foods dividends
Rabiu and his son own 99.8 percent of the newly established food business segment.
Egyptian entrepreneur Ahmed Ashour’s Pylon raises $19-million seed round
Pylon was developed with the goal of addressing the $400 billion in losses and uncollected revenue in the distribution of energy and water.
South African billionaire Michiel Le Roux’s Capitec Bank posts earnings of over $570 million in 2022
Capitec Bank was founded 20 years ago by Le Roux and leading businessmen Jannie Mouton and Riaan Stassen.
Flutterwave billionaire CEO Olugbenga Agboola, faces allegations of financial misconduct
Agboola and Flutterwave have yet to respond to or deny the allegations made by the Nigerian investigative journalist.
Associates linked to Kenya’s late President Daniel Arap Moi will receive $3.4 million from two-year-old deal
The $3.4-million payout represents the balance from their stake in Transnational Bank sold to Access Bank in 2020.
Aliko Dangote, Africa’s richest man, gains $100 million as investors prepare for Q1 earnings
The wealth gains solidify his position as not only Africa’s richest man but also the world’s richest Black man.
Ashraf Sabry’s Fawry gains $53 million in single day after seeing over $123.4 million in block deals
Fawry is one of Africa’s leading fintech companies.