Egyptian mogul Khaled Mahmoud’s MM Group reports 60-percent slump in earnings in Q1 2022
Mahmoud owns a significant 10.13-percent stake in the company, worth nearly $13 million.
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South African mogul Nicky Oppenheimer’s net worth increases by $825 million in 2022
Oppenheimer is one of a handful of African billionaires whose fortunes have grown significantly in 2022.
Mauritian magnate Dominique Galea-led insurer MUA announces $10-million equity investment
Galea owns 15.43 percent of the insurer, worth $25.5 million.
Segun Agbaje-led Guaranty Trust receives CBN approval to launch payment subsidiary
HabariPay will help expand the group’s services to largely underserved markets.
Led by Ralph Mupita, MTN Group completes sale of 5,701 towers to Sam Darwish’s IHS for $415 million
IHS will now own 70 percent of its South African towers business.
U.S.-Nigerian telecom tycoon Sam Darwish gains $26.8 million in 22 days
Darwish founded IHS Holdings, a Nigerian telecom infrastructure firm, in 2001.
South African billionaire Koos Bekker loses half a billion dollars on his Naspers stake
Bekker is still one of Africa’s wealthiest men, with a net worth of more than $2.2 billion.
South African mogul Adrian Gore sells $3.1 million in Discovery Limited shares in May
Gore owns a 7.47-percent stake in the South African financial services conglomerate.
Greek tycoon John Coumantaros’ Flour Mills records more than $67 million in profit in 2022
Coumantaros owns a majority 63.34-percent stake in the company.
Johann Rupert now South Africa’s richest man, one week after losing spot to Nicky Oppenheimer
Rupert is now ranked 214th on the Bloomberg Billionaires Index.
Africa’s richest man Aliko Dangote loses $702 million on last trading day of May
Dangote derives nearly half of his $20-billion fortune from his 86-percent stake in Dangote Cement.
South African billionaire Patrick Soon-Shiong loses nearly $1 billion since start of 2022
Soon-Shiong holds $7.03 billion of his $8.99-billion fortune in cash.
Led by Egyptian Khamis family, Oriental Weavers’ earnings fall as raw material prices rise
Yasmine Mohamed Khamis and her family own a 56.58-percent controlling interest in the leading carpet manufacturer.
Nigerian billionaire Femi Otedola gains more than $6.8 million in past six days from First Bank stake
Otedola is the largest stakeholder in the financial services provider.
African Bank to acquire Johann Rupert-linked Grindrod in $97-million deal
Grindrod is a freight logistics and shipping services company owned in part by Rupert’s Remgro Limited.
Kenyan mogul Gideon Muriuki’s Co-operative Bank Group records over $103.5 million in profit in Q1 2022
Muriuki owns a two-percent stake in the group.