Johann Rupert’s net worth falls below $10 billion as Richemont shares tumble
The billionaire has lost more than $286 million in a single day.
Billionaires Africa
Austin Avuru’s gains over $18.5 million in three weeks from stake in Nigeria’s largest energy firm
Avuru owns an 8.2-percent stake in Seplat Energy through his family business, AAH Holdings.
Nigerian tech entrepreneur Ladi Delano’s Moove raises $105 million to expand operations globally
Since its inception two years ago, the mobility fintech pioneer has raised a total of $174.5 million in financing.
Jeremy Awori’s Absa Bank Kenya reports triple-digit growth in earnings as profit exceeds $95 million
Awori said the shifting operating climate compelled management to take urgent actions to protect capital and liquidity.
Egyptian multimillionaire Medhat Khalil’s Raya Holding to launch e-payment company
Raya Holding is an Egyptian investment conglomerate founded in 1999.
Jason Quinn-led Absa Group resumes dividend payment as earnings exceed $1.1 billion
The issued dividend reflects the group’s strong financial performance at the conclusion of its 2021 fiscal year.
Moi family of Kenya buys back majority stake in power company from steel magnate Narendra Raval
The lucrative deal is part of efforts to retrieve some of the family’s assets.
South African businessman Mxolisi Mgojo sees stake in Exxaro surge above $5.7 million
Mgojo owns a beneficial 0.17-percent ownership in the leading diversified resources firm.
Led by Mauritian Espitalier-Noel family, Rogers suffers $19.6-million in losses in 2021
Rogers and Company Limited is a Mauritius-based international services and investment firm.
Egyptian billionaire Yasseen Mansour’s real estate firm launches $206.5-million Sukuk bond
The proceeds from the issuing of Sukuk bonds will be used to build Palm Hills’ Badya creative city project.
Led by Ibrahim Farag, Egyptian startup Nexta raises $2.2 million from institutional investors
Farag and Ahmed Hisham founded the Egyptian fintech startup in 2021.
Kenyan businessman Joshua Oigara receives extension to stay with KCB Group until December
Under Oigara, the group’s assets have increased in value from $3.41 billion at the end of 2013 to $8.64 billion by the end of 2020.
South African executive Christine Ramon owns stake worth $3 million in AngloGold Ashanti
Ramon now has a beneficial 0.026-percent stake in the miner, which equates to 118,471 ordinary shares.
Understanding the silent giants
Some of the strongest groups of family businesses are grown in the Indian-African communities.
Egypt’s richest man Nassef Sawiris has now lost $566 million since start of 2022
Sawiris’ net worth is still assessed at $5.93 billion.
Nigerian billionaire Femi Otedola’s stake in country’s oldest bank is worth $75.5 million
Aside from his ownership stake in FBN Holdings, Otedola has interests in shipping, real estate and finance.