Nigerian banking tycoon Tony Elumelu gains $3.7 million from stake in UBA since start of 2022
Elumelu is the founder of Heirs Holdings and Transcorp.
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Angolan businessman Alvaro Sobrinho under investigation for allegedly embezzling $387 million
In 2015, Sobrinho was linked to a $5.7-billion fraudulent loan scheme.
South African billionaire Patrice Motsepe’s net worth rises by $300 million in 11 weeks
The billionaire is one of the richest men in Africa.
Nigerian banker Herbert Wigwe’s Access Bank earns $385.6 million in profit in 2021
Despite a 51-percent increase in earnings, the board proposed a dividend of $0.00168 per share for shareholders.
Kenya-based 4G Capital, led by Wayne Hennessy-Barrett, raises $18.5 million
Hennessy-Barrett launched 4G Capital in 2013 after working as a loan manager for a Kenyan institution for a short time.
Nigerian tycoon Tony Elumelu calls gov’t to order, says 90 percent of Nigerians live in poverty
Elumelu believes Nigerians face too many challenges in their daily lives due to government mismanagement.
John Kimani-linked Kakuzi Plc receives approval to export avocados to China
Kimani has a substantial 32.3-percent stake in the firm, totaling 6,330,699 shares.
Kenya-based entrepreneur Daniel Yu’s Wasoko raises $125 million at $625-million valuation
Since Yu founded Wasoko in 2015, it has expanded its operations beyond Kenya and delivered 2.5 million orders.
Johann Rupert’s net worth falls below $10 billion as Richemont shares tumble
The billionaire has lost more than $286 million in a single day.
Austin Avuru’s gains over $18.5 million in three weeks from stake in Nigeria’s largest energy firm
Avuru owns an 8.2-percent stake in Seplat Energy through his family business, AAH Holdings.
Egyptian multimillionaire Medhat Khalil’s Raya Holding to launch e-payment company
Raya Holding is an Egyptian investment conglomerate founded in 1999.
Jason Quinn-led Absa Group resumes dividend payment as earnings exceed $1.1 billion
The issued dividend reflects the group’s strong financial performance at the conclusion of its 2021 fiscal year.
Egyptian billionaire Yasseen Mansour’s real estate firm launches $206.5-million Sukuk bond
The proceeds from the issuing of Sukuk bonds will be used to build Palm Hills’ Badya creative city project.
Kenyan businessman Joshua Oigara receives extension to stay with KCB Group until December
Under Oigara, the group’s assets have increased in value from $3.41 billion at the end of 2013 to $8.64 billion by the end of 2020.
South African executive Christine Ramon owns stake worth $3 million in AngloGold Ashanti
Ramon now has a beneficial 0.026-percent stake in the miner, which equates to 118,471 ordinary shares.
Swazi billionaire Natie Kirsh loses $310 million in three days
Kirsh ranks as the 278th richest man in the world and the richest person in Eswatini (formerly Swaziland).