South African mogul Neal Froneman’s Sibanye-Stillwater’s PGM mine in US suspended for 4-6 weeks
Regional floods led to the decision to pause operations.
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Nigerian oil tycoon Adewale Tinubu’s Oando suffers $320 million in losses in 2020
Tinubu stated that 2020 was one of the most challenging years in the firm’s history.
Top 7 African billionaires of Instagram
They’re definitely worth following. Well, some of them at least.
South African entrepreneur Mike Heyink’s Yellow raises $23-million debt funding
Yellow was founded in 2018 to deliver life-changing tech products to low-income households in Africa.
Ugandan magnate Charles Mbire gains $4.7 million from stake in MTN Uganda
Mbire owns 3.98 percent of the telecom company.
Burkinabe banking tycoon Idrissa Nassa’s Coris Bank signs $526.8-million trade finance line with Afreximbank
The financial services group’s capital has grown since its founding from $3 million to $9 billion.
South African billionaire Johann Rupert has now lost $3.15 billion since beginning of 2022
However, Rupert still remains South Africa’s second-richest man.
African-American billionaire Shawn ‘Jay-Z’ Carter gains over $300 million since LVMH deal in 2021
Jay Z’s assets include Roc Nation, stakes in Armand de Brignac and D’Usse cognac, and a fine art collection.
South African billionaire Christo Wiese’s Brait SE moves to list food business, Premier
The listing will take place as soon as more favorable stock market conditions permit.
Tayo Amusan’s Ketron Investment receives $8.4 million from Nigeria’s Bank of Industry
Ketron is a wholly-owned subsidiary of Persianas Limited.
James Mwangi’s Equity Group funds Kigali Financial Towers with $100-million investment
Rwandan President Paul Kagame participated in the groundbreaking ceremony of the project.
Moroccan tycoon Adil Douiri loses $2.6 million in 19 weeks as shares in Mutandis slump
Douri owns a 6.88-percent stake in the Moroccan consumer goods firm.
Aliko Dangote receives $704.1 million in Dangote Cement dividends
Dangote owns an 86-percent stake in Dangote Cement, Africa’s largest cement producer.
Egyptian businesswoman Hend El-Sherbini loses $15 million in 10 weeks from IDH
IDH is one of the Middle East and Africa’s leading consumer healthcare groups.
Karim Awad-led EFG Hermes acquires Egyptian B2B marketplace Fatura
The acquisition comes after the Egyptian startup closed a $3-million pre-Series-A funding round last year.