Egypt’s richest man Nassef Sawiris has now lost $566 million since start of 2022
Sawiris’ net worth is still assessed at $5.93 billion.
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Nigerian billionaire Femi Otedola’s stake in country’s oldest bank is worth $75.5 million
Aside from his ownership stake in FBN Holdings, Otedola has interests in shipping, real estate and finance.
Swazi billionaire Natie Kirsh loses $310 million in three days
Kirsh ranks as the 278th richest man in the world and the richest person in Eswatini (formerly Swaziland).
Egyptian businessman Medhat Khalil’s Raya Contact Center reports 54-percent drop in profit
Raya Contact Center is a Cairo-based business-process and contact center outsourcing services company.
Kenyan tycoon Tabitha Karanja rules out stake sale in $198.8-million row
Karanja launched Keroche Breweries in 1997.
Kenya’s Kirubi family loses $2.6 million in 53 days
Kirubi died last year at the age of 80 following a four-year battle with illness.
South African businessman Xolane Ndhlovu donates $1 million to Africans in Ukraine
Ndlovu said he is motivated to help Africans who have lost their livelihood due to the Russia-Ukraine conflict.
Aliko Dangote’s $19-billion oil refinery nears completion; oil production to launch in September
The recent disclosure comes amid a fuel crisis in the country and a spike in global energy prices.
Egyptian real estate mogul Hisham Talaat Moustafa to pocket $9.65 million in dividends
Moustafa controls a 43.16-percent stake in the conglomerate for the Talaat Moustafa family.
Russian-born billionaire with St. Kitts & Nevis passport is case study in perspicuity
Durov is best known for founding the social networking site VK and later Telegram Messenger.
Ten richest investors on the Nairobi Stock Exchange in 2022
On the Nairobi bourse, the top three wealthiest investors are Aga Khan IV, James Mwangi and the Merali family.
Gates Foundation makes first grant following appointment of Zimbabwe’s richest man Strive Masiyiwa
The funds will go to Butterfly Network, a digital health startup that aims to democratize medical imaging.
Algerian tycoon Ali Haddad, others forfeit assets worth $4.2 billion to gov’t in one month
Earlier, Haddad and other businessmen were sentenced to lengthy prison sentences in corruption trials.
Kenyan banker James Mwangi’s Equity Group launches $6-billion regional economic stimulus plan
Equity Group is East and Central Africa’s largest financial services group.
Ghanaian tycoon Joseph Agyepong’s Jospong Group issues grant to support sanitation research
The tycoon made the grant to a team of 26 academics from 13 universities and research institutions in Ghana.
Egyptian tycoons Hassan Allam, Ahmed El Sewedy back logistics startup Naqla with $10.5 million
Naqla has transported 4.6 million tonnes of goods in over 35 zones in Egypt since its inception over five years ago.