Uganda-based Sarrai Group wins deal to revive Mumias Sugar; Kenyan tycoon Julius Mwale signals court action
Sarrai Group has edged out Mwale to win the lease to operate and revive Mumias Sugar.
Billionaires Africa
Led by Mauritian Lagesse family, LUX Island Resorts gains $14.6 million in 20 days
Lux Resorts is a leading luxury hotel operator and resort owner in Mauritius.
Egyptian billionaire Nassef Sawiris close to sealing $321 million MLS soccer deal
Sawiris and Wes Edens are looking to set up an MLS outfit in Las Vegas.
South African executive Josua Malherbe gains $2.4 million in 2021 thanks to stake in Remgro
Malherbe is a non-executive, co-deputy chairman of Remgro.
Nigerian billionaires Dangote, Rabiu, others get $73 million in sugar subsidies
The subsidies program targets operators acting under Nigeria’s sugar backward intervention program.
Ten African startups that raised more than $100 million this year
This year remains unprecedented in the annals of African tech startups. It was a record-breaking year in terms of funding.
NCAA shuts Mike Adenuga’s Globacom base in Abuja over $12.2-million debt
Globacom owes the aviation authority close to $12.2 million due to its refusal to renew expired aviation certificates.
Zimbabwean businessman Sam Hosack’s Prospect Resources receives $422 million offer for lithium mine
Prospect Resources is a battery minerals company with a focus on lithium in and around Zimbabwe.
Zimbabwe’s richest man Strive Masiyiwa loses $70 million in two weeks as shares in Econet slump
Masiyiwa, who founded Econet Group in 1998, holds a 52.85-percent stake in Econet Zimbabwe, the country’s largest telecom service provider.
Nigerian billionaire Mike Adenuga gains $7 million in 2021 from stake in Julius Berger
Adenuga, the founder of Nigeria’s third largest telecom services provider, Globacom, owns a 25.1-percent stake in Julius Berger.
South African billionaire Michiel Le Roux hedges $157.2 million in Capitec shares over market worries
Le Roux is the founder of Capitec Bank and the fifth richest man in South Africa.
Moroccan real estate tycoon Alami Lazraq to end 2021 with $3.7-million gain from ADI stake
ADI is a subsidiary of Alliances Group, a Morocco-based holding with a broad array of real estate investments.
Tech tycoon Leo Stan Ekeh donates $121,700 to support Nigerian Computer Society
Ekeh is the founder of Zinox Technologies and the owner of the Nigerian e-commerce giant, Konga.com.
Koos Bekker’s Naspers, others invest $30 million in car subscription company, Planet42
Planet42 is a car subscription company that buys used cars from dealers and rents to customers via a subscription model.
Egyptian tycoon Hend El-Sherbini’s IDH to acquire majority stake in Pakistan-based IDC for $72.35 million
Islamabad Diagnostic Centre (IDC) is one of Pakistan’s largest integrated diagnostics providers.
Cameroonian millionaire Samuel Foyou opens $27.5 million five-star hotel in Douala
The hotel cost $27.5 million to build and is the first five-star hotel in Douala and the second in Cameroon.