Egypt’s Ghabbour family set to receive $13.1 million in dividends from GB Auto in 2022
The wealthy Ghabbour family holds a majority 62.9-percent stake in Ghabbour Auto.
Billionaires Africa
Controlled by Moroccan Royal Family, Al Mada sets up venture fund with $109.9-million investment
Under the direction of Morocco’s King Mohammed VI, Al Mada has grown into a leading African private investment fund.
MainOne, led by Funke Opeke, sets up fiber infrastructure in Nigeria’s first private free zone
The move comes nearly four months after Equinix, a digital infrastructure company led by U.S. businessman Charles Meyers, acquired MainOne.
Burkinabe tycoon Mahamadou Bonkoungou opens new showroom in Burkina Faso
Bonkoungou Distribution operates as a subsidiary of EBOMAF Group, a construction group founded in 1989.
AMCON receives court orders to takeover assets of Nigerian businessman Babatunde Folawiyo
Folawiyo has a beneficial one-percent stake in MTN Nigeria, the most profitable subsidiary of MTN Group.
South African tech mogul Zak Calisto loses $285 million in 85 days
Calisto owns a 75-percent stake in the Singapore-based technology firm.
Ghanaian mogul Samuel Jonah’s Helios Towers acquires 723 tower sites in Malawi from Airtel Africa
The deal is valued at $55 million.
South African billionaire Nicky Oppenheimer’s net worth surpasses $8.8 billion
Oppenheimer’s net worth has increased by 10.7 percent since the start of the year.
Karim Awad-led EFG Hermes posts profits of $81.8 million in 2021
EFG Hermes specializes in securities brokerage, asset management, investment banking and private equity.
Namibian mogul Koos Brandt records $19-million boost to his net worth from stake in Capricorn Group
Brandt is the holding’s largest individual shareholder.
Kenyatta, Merali and Ndegwa families will receive nearly $8.9 million in dividends from NCBA Group
The family of the late Jomo Kenyatta, Kenya’s prime minister from 1963 to 1964, will receive a dividend of $4.27 million from their stake.
Zimbabwean restaurant mogul Zed Koudounaris eyes Kenyan expansion for Simbisa brands
His 18.41-percent stake in the company is worth $60.4 million.
Angolan tycoon Carlos Manuel de Sao Vicente sentenced to nine years over graft
He has been sentenced to nine years in jail by a local court for embezzlement.
Nigerian telecom mogul Bashir Ahmad El-Rufai controls $11-million stake in IHS Towers
The businessman played a key role in the deregulation of the country’s telecom industry in the early 2000s.
Qatari-backed fund acquires luxury Cape Town hotel from John Moxon’s Meikles
Meikles Limited, a conglomerate controlled by Moxon, has sold off The Cape Grace at the V&A Waterfront.
Richemont, controlled by billionaire Johann Rupert, sells off 20-percent stake in Greubel Forsey
Greubel Forsey, which was founded in 2004, manufactures very complicated timepieces.