Egyptian tycoon Naguib Sawiris shuns Bitcoin, says cryptocurrencies are speculative
His statement comes at a time when the world is highly concerned about inflation.
Featured
Africa’s sixth richest man Abdul Samad Rabiu loses $600 million; net worth falls below $5 billion
The loss was due to poor performance by his company, BUA Cement, on the Nigerian Exchange.
Egyptian businessman Medhat Khalil gains $42.05 million in 15 days as Raya Holding shares surge
Raya Holding is an Egypt-based investment conglomerate majority owned by Egyptian tycoon Medhat Khalil.
James Mwangi-led Equity Group posts $240.83 million in profit in 9M 2021
Equity Group Holdings is Kenya’s leading financial services holding.
South African billionaire Patrice Motsepe’s ARC moves to buy, delist CSG Holdings
CSG offers staffing solutions, facilities management and personnel and industrial support in South Africa.
Nigerian billionaire Femi Otedola sees stake in FBNH rise by $4.9 million since early November
FBNH is one of the top five financial services providers in Nigeria, Africa’s largest economy.
Karl Toriola-led MTN Nigeria receives preliminary green-light to operate payment service bank
Both MTN Nigeria and Airtel Africa have received approval-in-principle for a service bank license.
Charles Mbire-led MTN Uganda gets thumbs up to market IPO to local investors in Kenya
MTN Uganda will be the fourth operating subsidiary of the South African MTN Group to be listed in Africa.
Aga Khan IV loses $4.07 million in two months as shares in Nation Media Group slump by 19 percent
Aga Khan IV holds a 44.7-percent stake in the group through The Aga Khan Fund for Economic Development.
Nigerian banking mogul Atedo Peterside acquires stake worth $817,300 in Stanbic IBTC Holdings
The share purchase was made despite a 57-percent decline in the company’s earnings.
South African exec Duncan Wanblad to pocket at least $1.71 million as new Anglo American CEO
His total salary package as the new CEO is expected to be significantly higher.
Startup founders Ham Serunjogi, Olugbenga Agboola lead Payhippo to secure $3 million in seed funding
Payhippo is an AI-driven lending platform that provides loans to small businesses.
Saltzman family’s Dis-Chem Pharmacies resumes dividend payment, owners to pocket $10.8 million
Dis-Chem Pharmacies is a leading pharmacy retail and healthcare group based in South Africa.
Tunisian businessman Moncef Mzabi gains $7.4 million in 2021 as shares in ARTES surge by 55 percent
An automobile industry leader, ARTES is the official dealer of the Renault and Nissan brands in Tunisia.
Hani Berzi’s Edita Food Industries registers 58-percent growth in profit in 9M 2021
Edita Food Industries is a leader in the Egyptian packaged snack foods market.
Kenyan tycoon Julius Mwale plans to bring in Dangote-connected firm to manage Mumias Sugar
Indian engineering consultancy firm J.P Mukherji & Associates operates in more than 30 countries across four continents.