African-American billionaire Kanye West accuses Adidas of organizing Yeezy Day 2022 without approval
The accusations come nearly nine years after he signed a lucrative multiyear deal with Adidas to design the Yeezy brand.
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Indian-Kenyan entrepreneur Kamal Budhabatti’s Little plans to raise $17 million in stake sale
The funding will also aid in the development of its infrastructure and talent pool through retention and strategic recruitment while growing its presence in the region.
Madagascar’s richest man Ylias Akbaraly’s Thomson Broadcast finalizes GatesAir acquisition
Thomson Broadcast is a wholly owned subsidiary of Group Sipromad.
Johann Rupert’s Remgro, MSC reach agreement on Mediclinic acquisition terms
Rupert’s investment firm, Remgro, owns 44.6 percent of Mediclinic, South Africa’s largest hospital operator.
Nigerian billionaires Aliko Dangote, Abdul Samad Rabiu bag merit awards in Niger
The billionaires have both played an important role in the country’s economic growth.
South African exec Arrie Rautenbach-led Absa Group expects earnings to rise by 27 percent in H1 2022
Rautenbach owns a 0.023-percent stake in the banking group, worth $1.94 million.
Led by Egypt’s richest family, Orascom Construction adds $1.8 billion in new projects in Q2 2022
The billionaire Sawiris family owns 51.8 percent of Orascom Construction.
Kenyatta family-linked NCBA unveils $16.8-million EV financing as demand for battery-powered cars soars
NCBA Group is a Nairobi-based financial services conglomerate with subsidiaries in Tanzania, Rwanda, Uganda, and Cote d’Ivoire.
Nigerian billionaire Abdul Samad Rabiu’s BUA Foods reports more than $90 million in profit in H1 2022
Rabiu and his son own 99.8 percent of the newly established food business.
Billionaire Patrice Motsepe-linked Tyme Bank moves to acquire South African fintech lender, Retail Capital
TymeBank is owned in part by African Rainbow Capital Financial Services Holding, a Black-owned and -controlled company.
Kenyan founder Jihan Abass’ Lami raises $3.7 million in seed extension round
Abass founded Lami Technologies to democratize insurance products and services for low-income Africans.
Family is the elephant in the room
The biggest challenges for family businesses in Africa have to do with the family system and not with the business system.
Ethiopia’s wealthiest man Mohammed Al-Amoudi gains $230 million in July; net worth nears $6 billion
The increase in his net worth follows a $1-billion wealth loss in the first half of 2022.
South Africa’s richest man Johann Rupert gains $1 billion in July as investors react to Richemont’s Q1 results
The majority of Rupert’s fortune stems from his stake in Richemont.
Nigeria-based British executive Roger Brown acquires additional stake worth $2.3 million in Seplat
As Seplat’s CEO, Brown was instrumental in completing the group’s dual listing on the Nigerian and London stock exchanges.
Nigerian energy magnates Bryant Orjiako, Austin Avuru to pocket $2.15 million in Seplat dividends
Orjiako and Avuru own a significant 6.43-percent and 8.2-percent stake in the leading energy firm, respectively.