WPP Scangroup appoints Patricia Ithau to replace fallen Kenyan mogul Bharat Thakrar as CEO
Her appointment comes a year after Thakrar stepped down as CEO.
Billionaires Africa
Malagasy businessman Hassanein Hiridjee’s AXIAN Telecom launches $420-million bond
Hiridjee said the transaction’s success reflects AXIAN Telecom’s resilient business model.
South African tycoon Christo Wiese gains $48.8 million from stake in Africa’s largest retailer, Shoprite
The increase in the value of his stake can be attributed to sustained investor interest in the retail behemoth.
Patrice Motsepe, Johann Rupert-linked SEACOM to acquire Africell Uganda assets
The move by SEACOM represents a significant step forward in its five-year strategic expansion plans.
Nigeria’s second-richest man Abdul Samad Rabiu loses more than $180 million in 28 days
BUA Foods is a consolidated food business controlled by Rabiu, who owns 99.8 percent of the business.
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.
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.