Led by Mauritian Lagesse family, LUX Island Resorts posts $9.7 million in profits in Q2 2022
Lux Resorts is a leading luxury hotel operator with properties and operations in Mauritius, the Maldives, China, France and Vietnam.
Billionaires Africa
Cameroonian banker Alain Nkontchou gains over $1.5 million from stake in pan-African banking group, Ecobank
Nkontchou, who is the chairman of the Togo-based financial services company, holds 0.98 percent of Ecobank.
Nigerian businessman Tony Elumelu’s oil firm submits offer to acquire Shell’s JV assets in Nigeria
With the recent bid, the Elumelu-backed oil firm is set to compete with key players in Nigeria’s oil and gas industry.
Meet Osinachi Ukomadu, an African tech entrepreneur revolutionizing logistics
Heroshe allows Nigerians to buy products from any trusted U.S. online store.
Ethiopia’s richest man Mohammed Al-Amoudi’s net worth slumps by $268 million since start of 2022
With a fortune of $6.45 billion, Al-Amoudi is one of Africa’s richest men and the wealthiest man in Ethiopia.
One of Malawi’s wealthiest men Thomson Mpingajira receives court bail months after being served nine-year sentence
Mpingajira is was convicted for attempting to bribe judges hearing a case related to the country’s 2019 presidential election.
Egyptian tycoon Hisham Talaat Moustafa pledges $635,000 to Egypt’s national team
The multimillionaire made the pledge during a phone call with the country’s minister of youth and sports.
Led by Nigerian investor Iyinoluwa Aboyeji, Future Africa’s assets reach $30 million
According to Aboyeji, financial services remains its top sector, accounting for 55.7 percent of the fund’s investments.
Egyptian tycoon Hassan Allam-linked construction firm secures wastewater treatment plant contract
Hassan Allam Holding is Egypt’s largest privately held engineering, construction and infrastructure company.
Zimbabwe’s richest man, billionaire Strive Masiyiwa gains over $49 million from stake in EcoCash Holdings
Masiyiwa owns 30.26 percent of EcoCash Holdings, or 783,882,701 ordinary shares, through Econet Global Limited.
Indian billionaire Sunil Bharti Mittal’s Airtel Africa reports $514 million in profit in 9M 2021
In comparison to the previous year’s figures, the telecom company’s profit increased by 97.3 percent.
South African mogul Christo Wiese-linked Pepkor acquires controlling stake in Brazilian retailer
The deal will conclude on Feb. 4 through the acquisition of shares from Kinea Private Equity and the Caselli family.
Kenyan insurtech startup founder Jihan Abass’ Lami acquires Bluewave Insurance to drive expansion plans
The acquisition aligns with the firm’s mission to break the three-percent insurance penetration barrier in Africa.
Nigerian tech entrepreneur, Paystack Co-Founder Shola Akinlade establishes football club in Lagos
Sporting Lagos Football Club is an attempt to nurture the next generation of Nigerian sporting talent.
Assem Ragab-led Credit Agricole Egypt records over $102 million in net profits in 2021
The increase in net profit was fueled by a 2.4-percent increase in net-interest income.
South African tycoon Mohammed Akoojee’s Imperial Logistics acquires stake in Ascendis Pharma
The transaction marks another milestone for Imperial’s healthcare business.