One of Kenya’s richest investors, James Mwangi, loses $4 million from stake in Equity Group
Mwangi owns a significant 3.38-percent stake in Equity Group.
Billionaires Africa
South African businessman Saki Macozoma joins Mondi Plc as non-executive director
The South African businessman is expected to join the multinational packaging and paper group’s audit and nominations committees.
South Africa-based businessman Loucas Pouroulis’ Tharisa Plc takes control of Zimbabwe’s Karo platinum project
The Pouroulis-led mining group increased its stake in Karo from 26.8 percent to 66.3 percent in an all-share deal worth $27 million.
Africa’s richest man Aliko Dangote gains $915 million in Q1 2022
Dangote’s net worth surpassed the $20-billion valuation in the first three months of 2021.
Burkinabe businessman Idrissa Nassa’s Coris Bank Int’l opens office in Bissau
CBI’s market capitalization is now $540 million.
Egyptian billionaire Nassef Sawiris recovers from deficits as net worth exceeds $6.6 billion
With a total net worth of over $6.6 billion, Sawiris remains the richest man in Egypt and the 389th richest man in the world.
Nigerian billionaire Abdul Samad Rabiu to pocket $208 million in dividends
BUA Cement operates with a combined installed capacity of 8 million tonnes per annum.
Angolan businessman Alvaro Sobrinho resolves to pay deposit of $6.64 million with four properties
Sobrinho has been accused of stealing more than €350 million ($387 million) from BES Angola (now Banco Economico).
Strive Masiyiwa’s Liquid Intelligent acquires fiber pair on Google’s Equiano subsea cable
Liquid Intelligent Technologies is a pan-African technology group.
Kenyan businessman Joshua Oigara’s KCB Group receives approval to merge Rwandan units
The merger will result in the creation of the second-largest bank in Rwanda’s banking industry.
South African entrepreneur Lexi Monzeglio’s Lexi’s Healthy Eatery completes deal to sell stake to Famous Brands
Monzeglio founded Lexi’s Healthy Eatery in 2018.
Kenyan tycoon John Kimani gains $2.2 million from Kenya-based agro-allied company
With stakes worth more than $20 million in Kakuzi, Kimani is one of the richest investors on the Nairobi Stock Exchange.
U.S. resort firm, Vail, acquires majority stake in Swiss resort firm linked to Egyptian billionaire Samih Sawiris
Switzerland-based mountain resort company, ASA is majority-owned by Samih Sawiris.
South African financial services group, Absa Group, appoints Arrie Rautenbach as CEO
Rautenbach has been with Absa since 1997.
Nigerian billionaire Abdul Samad Rabiu’s BUA Cement posts all-time record profit in 2021
BUA Cement operates with a combined installed capacity of 8 million tonnes per annum.
Moroccan businesswoman Lamia Tazi loses $7.1 million from stake in pharmaceutical company, Sothema
Sothema has grown into a leading pharmaceutical company in Africa and the Middle East.