Nigerian billionaire Abdul Samad Rabiu receives $208 million in dividends from cement business
Rabiu is also on track to earn another $151.66 million in dividends from his newly consolidated food business, BUA Foods.
Hot News
Cameroonian mogul Samuel Foyou’s group plans to review share capital of subsidiary, Plasticam
Foyou, one of Cameroon’s wealthiest men, derives his fortune from the hotel, food, and printing industries.
Kenyan mogul James Mwangi’s Equity signs MoU with EAC to fast-track growth
Under Mwangi’s leadership, Equity Group has grown into the largest financial services group in East and Central Africa.
Sudanese fintech founder Ahmed Ismail’s Bloom secures $6.5 million in seed funding
Visa joined the round and, in doing so, hopes to increase its card adoption in Sudan and East Africa.
African-American billionaire Tyler Perry on prowl for lucrative new offer as BET mega-deal nears end
The writer, producer, director, and actor is best known for his “Madea” film franchise.
Kenyan government suspends Tanzanian billionaire Rostam Aziz’s plans to build cooking gas plant
The freezing of his statutory licenses could lead to a trade spat between Kenya and Tanzania.
Egyptian businessman Medhat Khalil loses $42 million in 15 weeks from stake in Raya Holding
Raya Holding is an Egyptian investment conglomerate formed in 1999.
Bluebell Capital wants South African billionaire Johann Rupert’s Richemont to focus on jewelry, watches
This statement comes nearly a week after Richemont reported a double-digit increase in sales in Q1 2023.
Kenyan banking magnate Jimnah Mbaru loses $2.4 million from investment in Britam
Mbaru still remains one of the Nairobi Securities Exchange’s wealthiest investors.
Billionaire Mohamed Mansour’s Infinity to acquire Lekela Power in Africa’s biggest renewable energy deal
Infinity is Egypt’s only dedicated renewable energy solutions provider.
Portuguese gov’t accuses Angolan businessman Alvaro Sobrinho of embezzling hundreds of millions of dollars
The businessman was charged with aggravated fraud and the lodging of about $6.12 billion.
Wealthy Kenyatta family loses more than $4.5 million in 100 days as NCBA shares slump
The stake is linked to Ngina Kenyatta, Muhoho Kenyatta, and Uhuru Kenyatta, a leading politician who has served as Kenya’s president since 2013.
Angolan billionaire Isabel dos Santos demands pardon after death of father
The dos Santos family also demanded an apology for the treatment of the former leader.
Nigerian billionaire Tony Elumelu says UBA’s global expansion incomplete without Gulf
UBA’s entry into the Middle East comes just six months after Elumelu publicly disclosed his interest in investing in the Caribbean.
Algerian tycoon Issad Rebrab’s Cevital partners with WEG to form electrical machinery company
The JV will produce motors for washing machines manufactured by Cevital and other partners.
South African mogul Johann Rupert’s net worth soars by $240 million in four days
The increase in Rupert’s net worth follows a surge in Richemont shares from $10 on July 15 to $11 today.