Egyptian billionaire Yasseen Mansour’s Palm Hills approves $206.5-million Sukuk bond to fund new project
Mansour controls a beneficial 4.68-percent share in Palm Hills Development.
Billionaires Africa
Led by Zimbabwean tycoon John Moxon, Meikles’ revenue surges by 131 percent in 9M 2022
Meikles is a Zimbabwean conglomerate with interests in hotel, retail, supermarkets, agricultural and financial services.
Nassef Sawiris’ Orascom Construction in talks on $1.5-billion plant as Egypt faces water scarcity
The move comes in the wake of a water crisis that has left Egypt and its neighbors struggling.
South African tycoon Adrian Gore’s Discovery partners with AIA to set up pan-Asian health insurance technology business
Gore’s 7.4-percent ownership interest in Discovery is worth R8.2 billion ($546.7 million).
Led by wealthy Ivorian Billon family, Palmci gains $45.4 million since start of 2022
Palmci operates as a subsidiary of SIFCA, an Ivorian agro-allied conglomerate.
Kenyan tycoon James Mwangi’s stake in Equity Group is worth $59.8 million
Mwangi holds a 3.38-percent stake, or 127,809,180 shares, in the financial services group.
Nigerian entrepreneur Olugbenga Agboola’s Flutterwave becomes most valuable startup in Africa
The funding comes on the heels of a five-year run in which Flutterwave has completed more than 200 million transactions totaling over $16 billion.
Christo Wiese-linked retailer Steinhoff starts payouts under $1.62-billion settlement
The move comes nearly three weeks after it received approval from a Cape Town high court to pay the investors.
Egyptian mogul Ashraf Sabry’s Fawry Microfinance surpasses $64 million in total disbursals
Fawry Microfinance is an operating subsidiary of Fawry for Banking Technology and Electronic Payments.
Egypt’s billionaire El-Sewedy family loses $109 million from stake in electric company
The El-Sewedy family owns 68 percent of the electric company, or 1,478,689,860 shares.
Mauritian tycoon Arnaud Lagesse-led IBL Group posts $36 million in profit in H1 2022
The Mauritius-based conglomerate recorded a triple-digit increase in profit in the first half of its 2022 fiscal year.
Banking tycoon Tony Elumelu gains nearly $2.8 million from stake in UBA
Elumelu has recently shown interest in Caribbean markets as part of a strategic drive to foster wealth creation through partnership.
Egypt’s richest man Nassef Sawiris acquires $4.4-million stake in Nile City
According to a bourse filing, Sawiris acquired 203,024 shares in Nile City Investments via the block transaction.
Mauritian tycoon Hector Espitalier-Noel’s New Mauritius Hotels obtains approval to enter into $22.3-million facility
New Mauritius Hotels has long been the pioneer and leader of the Mauritian tourist business.
Mauritian tycoon Arnaud Dalias’ CIEL Limited declares $21 million in profit
Dalais, the chairman of the Mauritius-based company, owns an eight-percent stake in CIEL.
Egyptian tycoon Hassan Allam’s construction group partners with U.S.-based tech firm to provide cybersecurity solutions
Hassan Allam Holding is Egypt’s largest privately held engineering, construction, and infrastructure firm.