Led by Egyptian executive Karim Awad, EFG Hermes plans to increase its capital base by $52.9 million
EFG Hermes will issue one share for every five shares held by shareholders.
Hot News
Egyptian billionaire Nassef Sawiris tops list of richest Arab billionaires
Despite losing $600 million in net worth, Sawiris remains the richest Arab billionaire on the Forbes list of the world’s richest people.
Kenyan banking tycoon Andrew Ndegwa gains $2.1 million in 36 days as NCBA shares soar
Ndegwa owns 4.3 percent of NCBA Group, or 70,909,968 ordinary shares.
Africa’s richest man Aliko Dangote’s cement firm to issue bonds under $721.6-million program
Dangote Cement is Africa’s largest cement producer, producing 51.55 million tonnes per year across 10 countries.
U.S. digital infrastructure firm Equinix completes acquisition of Funke Opeke’s MainOne in $320-million deal
it is the latest in a series of strategic acquisitions for the world’s digital infrastructure firm.
Zimbabwean billionaire Strive Masiyiwa’s daughter joins Econet Wireless Zimbabwe as director
Elizabeth Tanya Masiyiwa, an entrepreneur and philanthropist, is one of Zimbabwean billionaire Strive Masiyiwa’s six children.
UPS partners with French businessman Jeremy Hodara’s Jumia Technologies to expand logistics services in Africa
UPS customers will be able to pick up or drop off packages for global shipping at Jumia locations in Africa.
Led by South African Ackerman family, Pick n Pay reports $6.67 billion in revenue
The single-digit sales growth was driven by an increase in liquor and clothing sales during the period under review.
Malagasy businessman Hassanein Hiridjee’s AXIAN Telecom closes acquisition of Milicom’s operations in Tanzania
The deal fits perfectly with AXIAN Telecom’s ambitious growth plan.
South African businessman Alan Pullinger gains $5.4 million from stake in FirstRand
The $5.46-million surge can be linked to the year-to-date surge in the share price of FirstRand Limited on the Johannesburg Stock Exchange.
Forty-year-old Nigerian-born businessman Tope Awotona becomes billionaire
His $1.4-billion stake in Calendly makes him the world’s eighteenth Black billionaire.
Dubai Future Foundation collaborates with Johann Rupert’s Richemont to create new luxury retail solutions
The deal will give global entrepreneurs and startups the opportunity to showcase their ideas and deploy innovative solutions.
Kenyan tycoon Jimnah Mbaru loses over $1.35 million in 95 days as Britam shares fall 10 percent
Mbaru owns a significant 7.72-percent stake in Britam Holdings.
Algeria’s richest man Issad Rebrab moves to shut down French-speaking press company, Liberte
Rebrab is the founder and owner of Cevital, the country’s leading private group.
Nigerian serial founder Sim Shagaya’s Konga signs deal with Airtel to expand digital retail in Nigeria
Konga was founded in 2012 by Shagaya, a 45-year-old Nigerian technopreneur and serial investor.
Swazi billionaire Natie Kirsh is now richer than U.S. billionaires David Sun, John Tu
Kirsh’s net worth has risen by $215 million since the start of the year, from $8.27 billion to $8.49 billion.