Ten of the richest businessmen in Ethiopia — most of whom you’ve likely never heard of
Despite ranking only 29th in Africa by economic wealth, Ethiopia is a land of riches for thousands.
East Africa
Arnaud Dalais-led CIEL Limited posts $10.45-million full-year profit, as earnings rebound
CIEL is a Mauritian conglomerate operating in emerging markets across Africa and Asia.
Mauritian banker Pierre Guy Noel to pocket $291,520 in final dividend from MCB Group
The dividend will be paid from the $194.5 million in profit that the lender posted at the end of its 2021 financial year.
Isabella Ochola-Wilson-led Unga Group posts $2.66 million in profit as revenues remain flat at $161.2 million
The figure represented a 343.6-percent growth compared to last year.
Tanzanian billionaire Mohammed Dewji steps down as Simba Sports Club chairman
Dewji is stepping down due to his extremely busy schedule, which involves significant world travel.
Tanzanian gold magnate Ketan Patel loses $1.44 million as Shanta Gold shares decline by 16 percent
Shanta Gold is a gold mining company registered in Guernsey in the Channel Islands.
Pierre Guy Noel’s MCB Group posts $194.5 million in profit for 2021, 3.1-percent higher than last year
MCB Group is a financial service holding headquartered in Port Louis, the capital city of Mauritius.
Kenyan banking mogul Jimnah Mbaru gains $2.5 million in 151 days from stake in Britam Holdings
Britam Holdings is a Kenya-based diversified financial services group listed on the Nairobi Stock exchange.
Kenyan tycoon Peter Munga earns nearly $1 million from Britam as shares rise by 20 percent
Britam Holdings is a leading regional insurer with a diversified financial services portfolio.
Mauritian tycoon Hector Espitalier-Noel loses $13.6 million as ENL shares retreat from 20-month high
The drop can be attributed to investor profit-taking actions.
Malawian tycoon Ramesh Savjani earns $3.4 million in 96 days as Malawi’s best performing stock surges
The multimillion-dollar profit from his stake can be attributed to a surge in the share price of Illovo Sugar Malawi.
DPP tells Kenyan tycoon Samuel Macharia to privately prosecute directors over alleged fraud
The petition marks a fresh twist in the battle for ownership of the Kenyan insurance provider Directline Assurance.
Dar es Salaam-based tycoon Hans Macha gains $847,000 as shares in CRDB Bank surge by 31 percent
This was due to sustained buying pressure on the shares of the Dar es Salaam-based bank.
Emirati retail billionaire Majid Al Futtaim acquires five Shoprite stores in Uganda
The move comes after Shoprite classified its subsidiary in Uganda as discontinued.
Mauritian businessman Arnaud Dalais gains $5.5 million in 2021 as CIEL shares surge by double digits
The gains in his stake follow a double-digit surge in the group’s shares on the Mauritian bourse.
Narendra Raval’s Devki Group counts on new plant to cut cement prices in Kenya
Increased productivity will see the company pass on the resultant price benefits to consumers.