Egyptian billionaire Yasseen Mansour loses over $6.7 million from stake in Palm Hills
Despite the year-to-date loss, Mansour remains one of Africa’s wealthiest men.
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Nigerian logistics tycoon Taiwo Afolabi’s Sifax Group plans strategic move into energy sector
Founded in 1988, Sifax Group is one of Nigeria’s leading conglomerates.
Billionaire Strive Masiyiwa denies interest in South Africa’s SuperSport United FC
He stated in a Facebook post that the reports are a fabrication.
Tanzanian tycoon Said Salim Bakhresa’s Bakhresa Group kicks off sugar production
Bakhresa is one of Africa’s wealthiest men, with an estimated fortune of more than $600 million in 2015.
Mediclinic gains over $690 million four weeks after Johann Rupert’s Remgro launches takeover bid
Similarly, Remgro’s 44.6-percent stake in Mediclinc has increased in value by $281.5 million.
Tanzania’s richest man Mohammed Dewji plans $4-billion grain production investment
Dewji, 47, is the owner of MeTL Group, a Tanzania-based conglomerate founded by his father in the 1970s.
Kenyan banking magnate Gideon Muriuki loses $1.6 million in 16 weeks
Muriuki owns a two-percent stake in the leading financial services group, totaling 102,528,400 shares.
Angola’s former President Jose Eduardo dos Santos dies at 79
President Joao Lourenco has declared five days of national mourning.
The 10 richest billionaires in Africa as of June 2022
From January to June, the combined net worth of Africa’s 10 richest billionaires fell by $1.22 billion.
Ivorian banker Jean Kacou Diagou’s NSIA Banque Cote d’Ivoire expects balance sheet to exceed $3 billion in four years
The management expects the company’s balance sheet value to exceed $3 billion by 2026.
Namibian businessman Koos Brandt gains $13 million from stake in Capricorn Group
Capricorn Group operates in Namibia, Botswana, and Zambia.
Kenyan tech entrepreneur Victor Maina’s Duhqa secures $2-million in seed round one year after launch
Duhqa was founded in 2021 by Maina, Davis Angwenyi, and Dudu Moilwa to address issues in the highly fragmented retail market.
Tech billionaire Olugbenga Agboola’s Flutterwave says money laundering claims are false
The company reiterates that it adheres to the highest regulatory standards.
Nigerian startup founder Etop Ikpe’s Autochek acquires CoinAfrique to deepen pan-African expansion
The acquisition will see CoinAfrique’s team join Autochek in running operations in the region.
Consortium backed by South African billionaire Johann Rupert prepares higher Mediclinic bid
The news comes nearly four weeks after Mediclinic rejected an acquisition bid from Rupert’s Remgro.
Kenya’s CMA forces CVC Capital Partners to buy out Kenyan mogul Joe Wanjui’s stake in Limuru Tea
The move coincides with efforts to resolve litigation that has clouded Limuru Tea’s future.