Son of Angola’s former president receives five-year sentence over $500 million in graft charges
Jose Filomeno dos Santos was found guilty alongside three others of fraud, embezzlement and influence peddling.
Billionaires Africa
Mozambican tycoon Salimo Abdula’s kidnapped son rescued in South Africa
One of the alleged kidnappers has been arrested. The search is still underway to arrest the remaining kidnappers.
As shares rise ten-fold, Eric Thiam Sabate-led Ivorian Tobacco Company returns $152.6 million in gains
Societe Ivoirienne des Tabacs is known for popular Ivorian cigarette brands like Fine, Gauloises Blondes and Excellence.
Botswana tourism tycoon Jonathan Gibson loses $5.6 million as Chobe shares decline
Chobe operates 12 ecotourism lodges and camps on leased land in northern Botswana and the Caprivi Strip in Namibia.
Mauritian businessman Pierre Guy Noel gains $2.3 million in 2021 as MCB Group shares surge
MCB Group is Mauritius’ most extensive banking institution.
John Gachora-led NCBA Group reports 159-percent surge in earnings in 9M 2021
Gahora holds a total of 381,755 ordinary shares in the Kenyan financial services provider.
Ade Adeyemi-led Ecobank Group gets $113.2-million loan from EIB to support SMEs in Africa
Ecobank is the leading independent regional banking group in West and Central Africa.
Jeremy Awori-led Absa Kenya sees earning quadruple as profits surge above $73 million
Absa Bank Kenya, formerly Barclays Bank Kenya Limited, is a leading financial services provider in Kenya.
Kenyan startup founder Ken Njoroge’s Cellutant links up with ImaliPay to ease payments for gig workers
ImaliPay is a financial platform for digital workers co-founded by two Cellutant alumni.
Egyptian tycoon Hassan Allam’s construction group secures first-ever project in Jordan
Hassan Allam Holding is Egypt’s leading privately owned engineering, construction, and infrastructure group.
Gideon Muriuki’s Co-operative Bank of Kenya secures $56.4-million EU loan to support SMEs
The facility will be used to provide capital and long-term local currency loans to businesses hit by COVID-19.
Investors could have ‘cashed in big’ by buying shares in South African mogul Johann Rupert’s Richemont
A $10,000 investment in Richemont on Dec. 31 2020 is worth $18,372 today.
Ghanaian executive Ebenezer Asante’s stake in MTN Ghana now worth $1.56 million
MTN Ghana is the largest telecom operator in Ghana, with a total subscriber base of 25.2 million.
Nigerian private equity titan Temitope Lawani to pocket $39.1 million in $2.3-billion Vitol acquisition deal
Vivo Energy is a British downstream petroleum company.
Tunisian tycoon Habib Essayeh gains $8.4 million in 2021 as shares in Euro Cycles surge by 32-percent
Euro-Cycles is a Tunisian automotive company specializing in the production of bicycles.
Moroccan real estate tycoon Alami Lazraq’s Alliances Group posts $37.2 million in revenue in Q3 2021
Alliances Group is Morocco’s largest home and hotel builder.