Nigerian billionaire Abdul Samad Rabiu’s BUA Foods posts $167.8 million in profit in 2021
The increase in the group’s profit can be attributed to a significant increase in the sales of its products.
Billionaires Africa
Rise of the millennials next-gen leaders stepping up
Founders and incumbent leaders have the responsibility of legacy building.
Shell claims Nigerian billionaire Benedict Peters’ Aiteo owes $1.7 billion in oil loans
Founded by Peters in 2013, Aiteo is one of Nigeria’s largest indigenous oil exploration companies.
Egyptian entrepreneur Ayman Bazaraa’s Sprints raises $1.2 million to expand tech skills in Middle East and Africa
Sprints was founded in 2019 to bridge the tech talent gap among youths.
South African businessman Andre Du Plessis gains $16 million in 100 days from Capitec Bank
Du Plessis owns a beneficial 0.008-percent stake in the company, totaling 917,976 shares.
MTN Nigeria, led by Karl Toriola, receives approval to launch payment service bank
The approval comes five months after MTN Nigeria received preliminary approval from the Central Bank of Nigeria.
Billionaire Mike Adenuga to receive $3.1 million in dividends from Nigerian oil company
The $3.1-million dividend represents a 66.7-percent increase over the previous year’s dividend of $1.86 million from Conoil Plc.
Egyptian tycoon Hani Berzi’s Edita Food Industries plans to invest $54.5 million in three years
Edita’s planned investment is consistent with its intention to develop the region’s food manufacturing position.
Ethiopia’s richest man Mohammed Al-Amoudi has now lost over $1.9 billion in one year
The drop in the Ethiopian billionaire’s net worth can be attributed to a fall in the collective valuation of his industrial assets in Sweden, Saudi Arabia, and Ethiopia.
Somali tycoon Abdirashid Duale, others raise $8 million to rebuild burned-out market
Duale, a Somali multimillionaire, is the CEO of Dahabshiil, a global money transfer company founded in 1970.
South African Ackerman family makes $105 million in five weeks from stake in Pick n Pay
Members of the Ackerman family own a significant 25.53-percent stake in the leading retailer, or 124,677,238 ordinary shares.
Nigerian billionaire Abdul Samad Rabiu gains over $300 million from stake in BUA Cement
The multimillion-dollar surge in the market value of Rabiu’s stake can be linked to the year-to-date gains in BUA Cement shares.
Moroccan businessman Karim Benjelloun gains $1.7 million in six weeks
Disway distributes technological products and offers a wide range of international brands from IT publishers and manufacturers.
Absa’s first Black CEO Daniel Mminele receives $2.1 million in termination payment from Absa Group
The South African executive became CEO of Absa Group in January 2020.
Tunisian businessman Habib Essayeh gains $1.38 million in eight days from stake in Euro-Cycles
Essayeh owns a beneficial 33.6-percent stake in the bike maker.
Nigerian billionaire Mike Adenuga’s Conoil reports $7.4 million in profits in 2021
Conoil is a petroleum marketing corporation led by Adenuga, who owns 74.4 percent of the company.