UAE’s largest bank, FAB, has withdrawn its offer for majority stake in Karim Awad’s EFG Hermes
The disclosure comes two months after the bank announced its plan to acquire a 51-percent stake in EFG Hermes Holding.
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Nigerian billionaire Abdul Samad Rabiu eyes $151.6 million in BUA Foods dividends
Rabiu and his son own 99.8 percent of the newly established food business segment.
South African billionaire Michiel Le Roux’s Capitec Bank posts earnings of over $570 million in 2022
Capitec Bank was founded 20 years ago by Le Roux and leading businessmen Jannie Mouton and Riaan Stassen.
Aliko Dangote, Africa’s richest man, gains $100 million as investors prepare for Q1 earnings
The wealth gains solidify his position as not only Africa’s richest man but also the world’s richest Black man.
Ashraf Sabry’s Fawry gains $53 million in single day after seeing over $123.4 million in block deals
Fawry is one of Africa’s leading fintech companies.
Shell claims Nigerian billionaire Benedict Peters’ Aiteo owes $1.7 billion in oil loans
Founded by Peters in 2013, Aiteo is one of Nigeria’s largest indigenous oil exploration companies.
MTN Nigeria, led by Karl Toriola, receives approval to launch payment service bank
The approval comes five months after MTN Nigeria received preliminary approval from the Central Bank of Nigeria.
Somali tycoon Abdirashid Duale, others raise $8 million to rebuild burned-out market
Duale, a Somali multimillionaire, is the CEO of Dahabshiil, a global money transfer company founded in 1970.
South African Ackerman family makes $105 million in five weeks from stake in Pick n Pay
Members of the Ackerman family own a significant 25.53-percent stake in the leading retailer, or 124,677,238 ordinary shares.
Absa’s first Black CEO Daniel Mminele receives $2.1 million in termination payment from Absa Group
The South African executive became CEO of Absa Group in January 2020.
Egyptian billionaire Nassef Sawiris tops list of richest Arab billionaires
Despite losing $600 million in net worth, Sawiris remains the richest Arab billionaire on the Forbes list of the world’s richest people.
Kenyan banking tycoon Andrew Ndegwa gains $2.1 million in 36 days as NCBA shares soar
Ndegwa owns 4.3 percent of NCBA Group, or 70,909,968 ordinary shares.
Africa’s richest man Aliko Dangote’s cement firm to issue bonds under $721.6-million program
Dangote Cement is Africa’s largest cement producer, producing 51.55 million tonnes per year across 10 countries.
Zimbabwean billionaire Strive Masiyiwa’s daughter joins Econet Wireless Zimbabwe as director
Elizabeth Tanya Masiyiwa, an entrepreneur and philanthropist, is one of Zimbabwean billionaire Strive Masiyiwa’s six children.
Led by South African Ackerman family, Pick n Pay reports $6.67 billion in revenue
The single-digit sales growth was driven by an increase in liquor and clothing sales during the period under review.
Forty-year-old Nigerian-born businessman Tope Awotona becomes billionaire
His $1.4-billion stake in Calendly makes him the world’s eighteenth Black billionaire.