Shell to receive final bids from Nigerian mogul Tony Elumelu’s oil firm, others for $2.3-billion oil assets
The move comes nearly a year after the British energy giant announced plans to divest its interests in Nigeria.
Hot News
Egyptian businessman Medhat Khalil’s Raya Holding partners with Huawei to build sustainable data centers
Raya Holding is a leading brand in Egypt, with its operations generating a net profit of $34.5 million in 2021.
Malagasy tycoon Hassanein Hiridjee’s AXIAN invests in Egyptian tech fund
Hiridjee controls AXIAN, one of Madagascar’s largest conglomerates.
Queen’s bank honors Somali tycoon Abdirashid Duale for contribution to financial sector
His company Dahabshiil has grown into a leading African money transfer business.
Egyptian steel magnate Ahmed Ezz’s steel company leads as top MENA steel producer
According to World Steel, Ezz Steel ranks first in Africa and the Arab world, with a total output of 5.14 million tonnes.
Mediclinic rejects takeover bid by billionaire Johann Rupert’s Remgro and MSC
Remgro and MSC offered about $4.3 billion for Mediclinic, a South African hospital group.
Controversial South African tycoon Hamilton Ndlovu banned from doing business with state
Ndlovu made a fortune through controversial PPE contracts.
Zimbabwean billionaire Strive Masiyiwa’s Africa Data Centers launches massive data center facility in Ghana
ADC is an affiliate of Cassava Technologies.
Moroccan billionaire Othman Benjelloun has now lost $200 million since start of 2022
Benjelloun, one of Africa’s richest billionaires, has a net worth of $2 billion.
Kenyan banking magnate Jimnah Mbaru loses $1.7 million from Britam stake
Mbaru owns a significant 7.72-percent stake in Britam Holdings.
Africa’s wealthiest man, billionaire Aliko Dangote loses $700 million in 10 days
But with his fortune of $20.3 billion, he remains Africa’s richest man.
Moroccan billionaire Aziz Akhannouch’s net worth slumps by $200 million since start of 2022
Akhannouch has a fortune of $2 billion.
Egyptian auto tycoon Raouf Ghabbour’s GB Auto approves capital reduction via treasury share cancelation
Raouf and Nader Ghabbour, and other members of the wealthy Ghabbour family, own 62.9 percent of the leading automaker.
Nigerian billionaire Femi Otedola dumps shares in FBHN worth $17.8 million
The transaction is expected to have an impact on Otedola’s dividend earnings.
Led by Herbert Wigwe, Access Bank acquires Kenya’s Sidian Bank
The deal is worth Ksh 4.3 billion ($36.7 million).
Bank of Uganda takes interest in $10-million loan dispute between Patrick Bitature, Vantage Capital
Bitature is the founder, chairman, and group CEO of Simba Group, an East African conglomerate.