South African billionaire Patrice Motsepe’s ARM reports lower earnings and revenue as iron ore prices decrease
ARM is a major South African mining and minerals company.
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Billionaire Aliko Dangote’s oil refinery to commence operation by mid-2023
The project is back on track after being hampered by several issues.
Kenyan mogul Manu Chandaria regains control of Kaluworks as banks write off $55-million debt
Kaluworks is a manufacturing firm and a subsidiary of Chandaria’s main company, Comcraft Group.
South African billionaire Nicky Oppenheimer gains $130 million in August
Oppenheimer’s net worth rose from $8.3 billion to $8.43 billion.
Gbenga Agboola-led Flutterwave advances plans for NASDAQ IPO despite allegations
Flutterwave is a San Francisco- and Lagos-based fintech group.
Cameroonian banker Alain Nkontchou loses over $1 million from investment in Ecobank
The company’s market capitalization is presently $471 million.
Controlled by Kenya’s richest families, NCBA Group posts $65 million in profit in H1 2022
The double-digit increase in earnings was driven by a significant rise in interest and non-interest income.
Egyptian businessman Medhat Khalil’s Raya partners with Lafarge Egypt to convert trucks to natural gas
Khalil owns 58.1 percent of the company, or 1,245,661,205 shares.
Walmart to buy remaining stake in South African mogul Mark Lamberti’s Massmart for $377 million
If shareholders agree, the retailer will be delisted from the Johannesburg Stock Exchange.
Tanzanian billionaire Mohammed Dewji’s MeTL Group unveils insurance scheme
METL Group is Tanzania’s largest home-grown corporation, worth more than $1 billion.
South African tech tycoon Jens Montanana loses over $9 million in 10 days from stake in Datatec
Montanana founded Datatec more than 35 years ago.
Nigerian billionaire Abdul Samad Rabiu’s son resigns as director of BUA Foods
Earlier this year, Isyaku and his father earned a dividend of $151.6 million from their stake in the business.
Nigerian banker Jim Ovia to pocket $3.6 million in interim dividends from Zenith Bank
The news puts his total dividend earnings from Zenith Bank this year at $17.7 million.
Mombasa-based businessman Ramesh Malde’s Pwani Oil buys stationery firm
Pwani Oil Products is a Kenyan company owned by Mombasa-based tycoon Malde and his family.
Zimbabwean billionaire Strive Masiyiwa’s net worth slumps by $3.1 billion in nearly four months
Masiyiwa’s fortune is made up of his 52.85-percent stake in Econet Zimbabwe and 30-percent stake in EcoCash Holding.
Egyptian billionaire Yasseen Mansour, Ahmed El-Sewedy donate $5.9 million to build Cairo monorail
Egypt’s first monorail, worth $4.5 billion, will be finished by 2023.