Bank linked to Kenyan businessman, Baloobhai Patel to pay couple $1.9 million for fraudulent shares sale
Patel owns one percent of Absa Bank Kenya, a subsidiary of Absa Group Limited of South Africa.
Hot News
Egyptian businessman Mohamed Arafa’s firm mulls expansion
Haj Arafa Group, under the leadership of Egyptian businessman Mohamed Arafa, is exploring opportunities to broaden its reach.
London-based Chestertons enters Egypt market via partnership with Naguib Sawiris’ Gemini
Gemini is a real estate developer that is part of Ora Developers.
America’s richest Black billionaire Robert Smith’s Vista Equity to buy Duck Creek for $2.6 billion
Smith founded Vista Equity Partners in 2000.
Flutterwave, led by Nigerian tech entrepreneur Gbenga Agboola, competes to buy British fintech Railsr
Flutterwave was co-founded in 2016.
Egyptian entrepreneur Mostafa Kandil’s SWVL joins forces with Klax Ads to boost drivers’ income
SWVL Holdings Corp. is a leading provider of tech-enabled mass transit solutions.
Oprah Winfrey remains richest Black woman in America with $2.5-billion net worth
Winfrey is a household name known for her hit talk show, “The Oprah Winfrey Show.”
South African tycoon Jens Montanana’s stake in Datatec loses $30 million in eight weeks
Montanana founded Datatec in 1986.
Sawiris family, Egypt’s richest, suffers $800 million net worth loss in 2022
The family’s combined wealth includes the fortunes of Naguib, Samih, and Nassef Sawiris.
Nigerian media mogul Raymond Dokpesi released following delay at Heathrow Airport
The mogul is the founder and former chairman of Daar Communications.
Meet Egyptian software developer who raised $31 million in funding for his startup
Ahmed Wadi joined forces with another Egyptian software developer, Adham Badr, to co-found Money Fellows in 2016.
South African billionaire Johann Rupert’s Richemont set to benefit from Middle East’s luxury market
Richemont is a Swiss luxury holding company.
Dave Chappelle reveals African-American businessman Jay-Z’s investments in Ghana
Jay Z remains one of the few Black billionaires in the United States.
Kenyan tycoon Baloobhai Patel finds loophole to avoid paying tax on Carbacid stake
Patel is a leading Kenyan tycoon and serial investor.
South African billionaire Johann Rupert gains $400 million in first week of 2023
Rupert derives most of his wealth from his 9.14-percent stake in Richemont
Nigerian multimillionaire banker Herbert Wigwe sees stake in Access slump by $5.7 million
Herbert Wigwe owns a 4.51-percent stake in Access Holdings.