Nigerian billionaire Tony Elumelu’s UBA posts $265.6 million in profit in 9M 2022
Elumelu owns a sizable 6.39-percent stake in the financial services group.
Hot News
Zimbabwean social entrepreneur Tsitsi Masiyiwa launches AGI to tackle gender inequality in Africa
AGI was introduced more than seven months after Masiyiwa, along with other notable businesswomen and philanthropists launched a $1 billion gender fund.
Egyptian tycoon Ahmed El Sewedy’s electric company denies arranging $254-million credit facility
El Sewedy Electric is one of the leading players in Egypt’s electrical equipment manufacturing industry.
Centum, controlled by family of late tycoon Chris Kirubi, set to repay $19-million debt
Following Kirubi’s demise, his son Robert Kirubi and daughter Mary-Ann Musangi received 80 percent of his fortune.
Somali tycoon Ismail Ahmed’s Zepz to end 2022 in profit
Zepz reported a loss of $151 million at the end of its fiscal year in 2021.
Startup led by three Egyptian entrepreneurs raises $3.5 million eight months after launch
Kenzz aims to deepen e-commerce adoption in Egypt.
Nigerian investment banker Peter Ashade’s United Capital gains $29 million in 18 days
Ashade has been at the helm of United Capital since 2018.
Moroccan tycoon Othman Benjelloun on verge of losing ‘billionaire’ status
BMCE Group is Morocco’s largest financial services provider.
Egyptian billionaire Nassef Sawiris gains $370 million as net worth rebounds above $6.5 billion
The majority of Sawiris’ fortune stems from his 38.8-percent stake in OCI N.V. and his six-percent stake in Adidas.
British-Nigerian entrepreneur Ladi Delano’s Moove secures $16.6 million to scale up UK operations
Founded by Delano and Jide Odunsi in 2020, Moove has successfully scaled to nine markets across Sub-Saharan Africa and India.
Mukuha family-linked retailer Naivas to open four new branches in Kenya
Naivas Supermarket is Kenya’s largest supermarket chain.
Zimbabwean tycoon John Moxon gains $2 million from stake in Harare-based firm
Moxon owns 10.8 percent of Meikles Limited.
Cameroonian businessman Paul Fokam’s Afriland launches Togo investment holding
Fokam is one of Africa’s richest men.
35-year-old son of Egyptian billionaire Mohamed Al Fayed plans to launch UAE space business
He is set for an entry into the region through his Swiss-based firm, Earth Space Technical Ecosystem Enterprises.
James Mwangi’s Equity Group proposes plan to support 5 million small businesses
Mwangi owns 3.38 percent of the financial services group.
Nigerian billionaire Abdul Samad Rabiu gains nearly $1 billion in 27 days as BUA Cement shares rebound
Rabiu derives the majority of his fortune from his 92-percent stake in BUA Cement.