Nigeria’s second-richest man Abdul Samad Rabiu gains more than $1 billion in six days from food business
Rabiu’s stake in BUA Foods is now valued at $2.795 billion.
Billionaires Africa
Christo Wiese-linked retailer Steinhoff to list mattress firm on New York Stock Exchange
Founded in 1964, Steinhoff operates retailing activities in more than 30 countries.
Nigerian businessman Tony Elumelu’s Heirs Holdings set to begin work on oilfield
Heirs Holdings is a family-owned investment holding company founded by Nigerian businessman Tony Elumelu in 2010.
Zimbabwean tycoon John Moxon’s Tanganda Tea Company reschedules listing for February
Tanganda Tea Company is Zimbabwe’s largest distributor of bulk and packaged tea.
Naspers CEO Bob van Dijk acquires shares in Prosus worth more than $10 million
van Dijk’s purchase comes nearly two weeks after Prosus announced the successful buy-back of its shares worth $118.5 million.
Led by Co-Founder Simeon Ononobi, Nigerian startup ThankUCash raises $5.3 million
ThankUCash is a multi-merchant loyalty and cashback platform.
Led by Canadian executive Mike Henry, BHP Group moves to invest $100 million in Tanzanian nickel project
BHP Group will invest $40 million to accelerate the development of the Kabanga deposit.
Alexander Forbes appoints South African executive Ann Leepile as investments division CEO
Leepile’s appointment as CEO of Alexander Forbes Investments will be effective as of Feb. 1.
Joshua Oigara-led KCB Bank commits $7.1 million to support MSMEs in Kenya
KCB Bank operates as a subsidiary of KCB Group, one of the largest commercial banking groups in East Africa.
Sarrai Group sets aside $9.7 million to start operations in Mumias Sugar, despite court case from Julius Mwale
Sarrai Group, an Uganda-based conglomerate, is led by Kenyan businessman Sarbi Singh Rai, who is the group chairman.
South African tycoon Noluthando Gosa gains $6.7 million from stake in ArcelorMittal South Africa
Gosa is a leading business executive and CEO of Akhona Group, a 100-percent Black privately held investment holding.
Tunisian businessman Habib Essayeh gains $2.1 million as shares in Euro-Cycles surge
Habib Essayeh, Euro-Cycles’ CEO, holds a beneficial 33.6-percent stake in the company.
Egyptian billionaire Yasseen Mansour’s stake in property developer Palm Hills worth over $18 million
Palm Hills Development is a leading property developer with active investments and operations in Egypt.
Zimbabwean tycoon Kudakwashe Tagwirei loses lucrative e-passport deal
CBZ Bank had earlier bagged a deal that would see it pocket $20 for every e-passport application in Zimbabwe.
Namibian tycoon Quinton van Rooyen gains $29 million in first week of 2022
The gains will provide a cushion of sorts to the $190-million loss in his net worth in 2021.
Nigerian tech entrepreneurs Chukwudi Enyi, Moses Nmor’s Bfree raises $1.7 million in pre-seed funding
Bfree deploys strategic solutions to increase repayment rate on loans through the use of tech tools and data from credit institutions to predict customers’ risk profiles.