Egyptian tycoon Ahmed El Sewedy’s electric company posts $224.5 million in profit in 2021
El Sewedy said the group finished the year with strong performance across all of its operating segments.
Billionaires Africa
Led by Kenya-based entrepreneur Jit Bhattacharya, BasiGo receives $4.3 million in seed funding from investors
BasiGo aims to make East Africa a global leader in clean, affordable electric bus transit.
UAE’s largest bank offers to acquire majority stake in Karim Awad-led EFG Hermes
The proposed transaction is FAB’s second major transaction in Egypt.
Led by Ukrainian entrepreneur Anton Volianskyi, Jiji acquires Ghana’s leading online marketplace, Tonaton
Volianskyi founded Jiji in Lagos in 2014, and it has since grown to become one of the continent’s leading online marketplace.
Moroccan tech tycoon Karim Benjelloun’s Disway sees over $193 million in revenue in 2021
Disway’s market cap is $150.3 million, while Benjelloun’s 7.36-percent stake is worth $11.1 million.
Mauritian tycoon Hector Espitalier-Noel’s New Mauritius Hotels posts $12.5 million in profit
The pioneer and leader of the Mauritian tourism industry posted impressive results for Q2 2022.
Is collaborative giving the future of impact on the continent?
One of the critical strategies that large donors in Africa use is collaboration.
Africa’s richest man Aliko Dangote gains more than $950 million so far this year
The surge in his net worth represents the largest wealth gain by an African billionaire since January.
Led by Mostafa Kandil, SWVL raises $21.5-million PIPE funding ahead of U.S. listing
The transaction is part of a proposed business combination with the SPAC, Queen’s Gambit Growth Capital.
Swazi billionaire Natie Kirsh’s net worth increases by $320 million in two weeks
Kirsh is the 313th wealthiest man in the world and the fourth-richest man in Africa.
Tanzanian Rajabali brothers gain $2.1 million as CRDB Bank shares skyrocket by double digits
The multimillionaire brothers, Aunali and Sajjad Rajabali, own a 2.6-percent stake in the Dar es Salaam-based lender.
Distribution tycoon Khaled Mahmoud’s MTI looks set to begin selling Apple products in Egypt
The automotive and consumer electronics distributor announced that it has reached an agreement with Apple Trading Egypt.
Zimbabwean billionaire Strive Masiyiwa’s Cassava Technologies appoints Tesh Durvasula as CEO for Africa Data Centers
Durvasula will take on the leadership role to drive growth, innovation and strategy for Africa Data Centers.
South African tycoon Stephen Saad’s Aspen partners with Siemens to boost vaccine production for Africa
The collaboration will enable Africa’s largest drugmaker to increase its production capacity to meet the rising vaccine demand in Africa.
Led by Nigerian banker Segun Agbaje, GTCO acquires Investment One Funds Management
The transaction was completed eight months after the group transitioned into a holding structure.
Billionaire businessman Patrice Motsepe loses $111 million as shares in South Africa’s first Black-owned mining group fall from record highs
Motsepe, who founded ARM in 1997 as South Africa’s first Black-owned mining company, owns 40 percent of the leading mining group.