Billionaire Johann Rupert’s Richemont sees shares dive 14 percent on fears over China slowdown
Rupert’s net worth fell by $896 million as a result of the 14 percent drop in Richemont shares on Friday.
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Nicky Oppenheimer unseats Johann Rupert to become South Africa’s wealthiest billionaire
Oppenheimer’s net worth is estimated to be $8.55 billion as of press time.
Nigeria’s richest woman Folorunsho Alakija completes $145-million office complex
Alakija is the owner of Famfa Oil.
Africa’s richest billionaire Aliko Dangote to raise $750 million to complete $19-billion refinery plant
The refinery project is still on track to be completed by 2023.
Patrice Motsepe beats out Strive Masiyiwa, reclaims title as Southern Africa’s richest Black businessman
Motsepe’s net worth has risen to $3.1 billion so far this year.
Eight African billionaires make Sunday Times UK Rich List
Among them are Zimbabwean telecom billionaire Strive Masiyiwa and Swazi retail and property mogul Nathan “Natie” Kirsch.
Tanzania’s richest man Mohammed ‘Mo’ Dewji gives commencement speech at Georgetown University
Tanzania’s richest man also received an honorary doctorate in humane letters.
Led by Egyptian exec Pakinam Kafafi, TAQA Arabia acquires Rosetta Energy’s natural gas subsidiary
With the acquisition, the Cairo-based energy company plans to expand its portfolio in Africa and the Middle East.
Phuthuma Nhleko’s investment firm looks to sell stake in $3 billion Engen
The sale would generate millions of dollars’ worth of value for Phembani and other entities.
South African billionaire Johann Rupert’s luxury company records over $2.1 billion in profit in 2022
Richemont sales reached an all-time high of €19.2 billion in 2022.
Nigerian aviation mogul Allen Onyema donates $260,000 building to university
Onyema is the founder and chairman of Air Peace.
Cameroonian billionaire Paul Fokam’s Afriland First Bank eyes Chadian market
Fokam is one of the richest men in Africa.
Led by Egyptian exec Karim Awad, EFG Hermes raises capital by $52.9 million
The capital raise will be funded by the group’s retained earnings and will be distributed over 194.61 million shares.
Nigerian banking tycoon Herbert Wigwe’s Access Holdings to acquire majority stake in First Guarantee Pension
The announcement comes two months after Access Holdings completed its structural transformation into a holding company.
Nigeria rejects proposed acquisition of ExxonMobil assets by Bryant Orjiako’s Seplat Energy
The government cited overriding national interests as one reason for rejecting the $1.58-billion deal.
Led by Egyptian billionaire Sawiris family, Orascom Development reports $17.9 million in profit in Q1 2022
Orascom Development offers a portfolio of world-class destinations around the world.