Benin seizes assets of exiled chicken tycoon Sebastien Ajavon over alleged tax fraud
Ajavon is the founder of Cajaf-Comon, Benin’s largest supplier of frozen chicken.
Hot News
Burkinabe tycoon Mahamadou Bonkoungou’s IB Bank plans to crash interest rates in Togo
Bonkoungou acquired IB Bank in Togo last December.
Malawian banking mogul Hitesh Anadkat gains $40 million from stake in FMB Capital
Anadkat owns 35.51 percent of the Port Louis-based firm.
Swazi billionaire Natie Kirsh’s net worth slumps by more than $600 million
However, Kirsh still remains one of Africa’s wealthiest billionaires.
South African tycoon Jens Montanana’s Datatec sells Analysys Mason management consulting firm for $252 million
The transaction is part of a concerted effort by management to unlock value trapped in Datatec’s structure.
Kenyan beer tycoon Ngugi Kiuna ups stake in gas manufacturer, BOC Kenya
The acquisition solidifies Kiuna’s position in BOC Kenya as one of the company’s leading shareholders.
South African billionaire Johann Rupert suffers $570-million wealth loss in June
Rupert still remains South Africa’s richest man.
Africa’s richest man Aliko Dangote gains $100 million in June
The $100-million increase in his net worth in June follows a $300-million decline in May.
Egypt’s richest man Nassef Sawiris loses $600 million in June after gaining $1.25 billion in May
His fortune is derived from a 38.8-percent stake in Netherlands-based OCI N.V. and a six-percent stake in German sportswear behemoth Adidas.
Ghanaian tycoon Daniel McKorley’s McDan Group to donate land to students for soya bean cultivation
McKorley is a well-known businessman and the founder and CEO of the McDan Group.
Johannesburg-based entrepreneur Tasoulla Hadjigeorgiou’s LottoStar secures investment from UK bookmaker
LottoStar was founded in 2014 as a family-led business.
Egyptian tycoon Ahmed El Sewedy’s electric company secures $150-million loan from IFC
Elsewedy Electric, an Egyptian international electrical corporation, was founded in 1938 by the El Sewedy family.
Ethiopia’s richest man Mohammed Al-Amoudi loses nearly $1 billion this year
Al-Amoudi has lost his position as Africa’s sixth-richest man to Nigerian billionaire Mike Adenuga.
South African Saltzman family loses $145 million in two months from Dis-Chem stake
Over the years, Dis-Chem Pharmacies has grown into one of South Africa’s leading retail healthcare groups.
Kenyan banking magnate James Mwangi loses more than $6 million in June
Mwangi’s loss comes on the heels of a reduced appetite for emerging market shares.
Kenyan businessman Paul Ndung’u takes legal action over control of SportPesa assets
The move comes nearly two years after the SportPesa brand was relaunched.