Kenyan tycoon Rohan Patel gains $1.2 million in two weeks from stake in Sanlam Kenya
Patel owns a significant 20.7-percent stake in the Kenyan insurer.
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Kenyan industrialist Baloobhai Patel acquires $2.5-million stake in Bamburi Cement
Patel also owns stakes in Carbacid, Absa Bank Kenya, Co-operative Bank and Safaricom.
Nigerian logistics tycoon Taiwo Afolabi becomes chairman of Sifax Group
After working for Nigerian Express Agencies Limited in the 1980s, Afolabi founded SIFAX Group in 1988.
US rumored to be building world’s largest consulate in Nigeria with billionaire Gilbert Chagoury
In 2000, a Swiss court reportedly convicted Chagoury of laundering funds looted by Nigeria’s late military leader Sani Abacha.
Wealthy Egyptian Khamis family loses $25.2 million from stake in Oriental Weavers
The family is set to earn $23.9 million in final dividends from their stake in the leading carpet manufacturer.
South African exec Nonkululeko Nyembezi becomes first Black woman to chair Standard Bank
Nyembezi is a seasoned South African corporate leader.
Wealthy Kenyatta family gains $3.1 million in six days from stake in NCBA Group
NCBA Group shares have soared in value in recent days.
South African billionaire Patrice Motsepe-linked Sanlam finalizes UK divestment
The divestment is consistent with the group’s strategy to simplify its UK operations.
Egypt’s richest man Nassef Sawiris now wealthier than Henry Samueli; net worth over $7.25 billion
The billionaire’s net worth has risen by $738 million since the start of the year.
Abdul Samad Rabiu’s BUA Foods acquires shipping vessels to drive West African sugar exports
The new vessel will depart and berth at BUA’s port and terminal.
Kenyan Ndegwa family transfers $14.7 million in NCBA Group shares to family firm
NCBA Group was formed through the merger of NIC Bank Group and Commercial Bank of Africa Group.
Moroccan tycoon Adil Douiri’s Mutandis posts $42 million in revenue in Q1 2022
The market value of Douiri’s 6.88-percent interest in Mutandis is assessed at $15.36 million.
Investors looking to acquire Aliko Dangote’s cement firm must make at least $13-billion offer
His 86-percent stake in Dangote Cement is valued at $10.3 billion.
Ethiopian billionaire Mohammed Al-Amoudi falls from world’s 367th to 406th richest man
His net worth fell after Preem, Sweden’s largest oil refiner, reported a 31-percent drop in revenue.
Nigerian lawyer Tola Onayemi’s Norebase raises $1 million in pre-seed funding
Onayemi founded Norebase in 2019.
South African billionaire Nicky Oppenheimer to pocket $2.37 million in IDH dividends
His net worth has risen by more than $675 million since the year began.