Cameroonian multimillionaire banker Alain Nkontchou’s stake in Ecobank now worth $3.76 million
Nkontchou controls a beneficial 0.98-percent stake in the bank.
Billionaires Africa
Nigerian mogul Abdul Samad Rabiu’s food business posts huge profit since listing
The news comes despite a slump in fortified sugar sales and a single-digit increase in its direct production costs.
South African billionaire Michiel Le Roux gains more than $141.4 million in 27 days
Le Roux founded Capitec Bank, one of South Africa’s largest retail banks, about 21 years ago.
Australian tycoon Matthew Yates’ OreCorp moves to offload Australian assets to focus on Tanzanian gold
The assets include the Hobbes Prospect within the Yarri Project in the Eastern Goldfields.
Ghanaian tech entrepreneur Jesse Ghansah’s Float secures $17 million in seed funding one year after launch
Float offers innovative solutions to the cash-flow issues that African small and medium businesses experience on a daily basis.
Ghanaian tycoon Joseph Agyepong to build 13 wastewater treatment facilities in Ghana
Jospong Group of Companies is one of Ghana’s most diversified holding companies.
Led by Aisha Cassam Timol, CIM prepares to list 17 million shares worth $3.65 million under employee scheme
CFSL is a non-deposit-taking financial services holding.
Egyptian tech entrepreneur Hossam Taher’s Orcas raises $2.1 million from investors
Orcas is an Egyptian live learning ed-tech startup with active operations in the Middle East and North Africa.
Investors could have ‘cashed in big’ by purchasing shares in Abdul Samad Rabiu’s BUA Foods 12 days ago
So far this year, BUA Foods’ stock ranks as the best performing stock on the Nigerian Exchange.
Moroccan tycoon Anas Sefrioui records $25.4-million gain as shares in Groupe Addoha soar
Sefrioui, one of Morocco’s richest men, controls a 64.1-percent stake in Groupe Addoha.
Britam Holdings appoints Kenyan executive Charles Njuguna as acting managing director
Njuguna played a strategic role as finance director in the execution of the group’s turnaround strategy.
Egyptian tycoon Ahmed El Sewedy’s electric company signs $28.3-million contract for project in new administrative capital
Elsewedy Electric for Trading and Distribution is a 99.8-percent-owned subsidiary of Elsewedy Electric.
Malawian tycoon Hitesh Anadkat gains $16 million from stake in Mauritius-based FMB Capital Holdings
Anadkat is the founder of FMB Capital Holdings and holds a substantial 35.51-percent stake in the company.
Zimbabwean executive Basil Dionisio gains $2.68 million in two weeks
Basil Dionisio is the CEO of Simbisa Brands Limited.
Kenyan tech entrepreneur Eric Muli’s Lipa Later secures $12 million to expand in Africa
Lipa Later is a Kenyan consumer credit platform co-founded by Kenyan tech entrepreneur Eric Muli in 2018.
Kenyan high court suspends Mumias Sugar Lease to Sarrai Group weeks after ligation by Julius Mwale
The court action comes nearly two weeks after Kenyan tycoon Julius Mwale challenged the leasing of Mumias Sugar’s assets to Sarrai Group.