James Mwangi’s Equity Bank secures $49.3 million in funding for onward lending to small businesses
The funds will be deployed to render support through microcredit loans to small and medium-type businesses in Kenya.
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South African-born billionaire Patrick Soon-Shiong launches Africa’s first COVID-19 vaccine plant
NantSA has launched a plant in South Africa that will produce up to 1 billion COVID-19 vaccines yearly by 2025.
Billionaire Johann Rupert’s Richemont reports double-digit surge in Q3 sales above $6.4 billion
The revenue posted in the third quarter of Richemont’s current financial period represents a 32-percent increase.
Moroccan tycoon Adil Douiri gains $1.05 million in 44 days from stake in consumer goods group, Mutandis
Douiri is the founder of Mutandis, a leader in the packaged foods industry in Morocco.
Nigerian mogul Abdul Samad Rabiu’s food business posts huge profit since listing
The news comes despite a slump in fortified sugar sales and a single-digit increase in its direct production costs.
Investors could have ‘cashed in big’ by purchasing shares in Abdul Samad Rabiu’s BUA Foods 12 days ago
So far this year, BUA Foods’ stock ranks as the best performing stock on the Nigerian Exchange.
Moroccan tycoon Anas Sefrioui records $25.4-million gain as shares in Groupe Addoha soar
Sefrioui, one of Morocco’s richest men, controls a 64.1-percent stake in Groupe Addoha.
Malawian tycoon Hitesh Anadkat gains $16 million from stake in Mauritius-based FMB Capital Holdings
Anadkat is the founder of FMB Capital Holdings and holds a substantial 35.51-percent stake in the company.
Kenyan tech entrepreneur Eric Muli’s Lipa Later secures $12 million to expand in Africa
Lipa Later is a Kenyan consumer credit platform co-founded by Kenyan tech entrepreneur Eric Muli in 2018.
Zimbabwean tycoon Paddy Zhanda’s stake in Masimba Holdings now worth $3.27 million
Masimba Holdings provides engineering and infrastructure solutions across various sectors.
Nigerian tycoon Jim Ovia gains $24.5 million in 40 days from stake in Zenith Bank
Ovia’s stake in Zenith Bank is now valued at more than $312 million.
Cameroonian banker Alain Nkontchou spends $2.35 million to acquire shares in Ecobank Group
Nkontchou spent a total cash consideration of $2.35 million to increase his stake from 0.26 percent to 0.98 percent.
Warner Music Group acquires majority stake in Yoel Kenan’s Africori
Africori helps create global opportunities for African artists.
Kenyan banker James Mwangi loses $3.7 million in seven days from stake in Equity Group
Mwangi, the CEO and managing director of Equity Group, owns a 3.38-percent stake in the bank.
Swazi billionaire Natie Kirsh loses $260 million in one week
Kirsh saw his net worth surge to a record $8.35 billion on Jan. 4, $1.89-billion higher than one year ago.
Zimbabwean tycoon John Moxon’s Tanganda Tea Company reschedules listing for February
Tanganda Tea Company is Zimbabwe’s largest distributor of bulk and packaged tea.