Israeli Marom Energy buys stake in Moroccan exec Moundir Zniber-led Gaia Energy
Zniber launched Gaia Energy in 2008 to encourage the development of renewable energies in Morocco.
Hot News
South African billionaire Stephen Saad’s Aspen concludes COVID-19 vaccine deal
The vaccine will be marketed as Aspenovax.
Egyptian billionaire Yasseen Mansour’s Palm Hills reports $54.5 million in profit in 2021
The group’s market capitalization is valued at $284.57 million.
Ralph Mupita-led MTN Group reports double-digit percent decline in profits
Earnings were hurt by an impairment loss of $29.8 million.
Egyptian billionaire Naguib Sawiris advises gov’t on how to deal with rising oil, wheat prices amid Russia-Ukraine crisis
His advice comes almost two weeks after he warned Egypt’s government to stockpile wheat.
Nigerian billionaire Abdul Samad Rabiu loses $198 million in almost two months
Rabiu, the chairman of BUA Group, owns 99.81 percent of the agro-allied company.
Nigerian banking tycoon Tony Elumelu to receive $4.6 million in dividends from UBA
Elumelu owns a 6.39-percent stake in the company.
Qatari businessman Moutaz Al-Khayyat acquires $18.2 million shares in Egypt-based consumer goods manufacturer
Juhayna Food Industries is a market leader in the production, processing and packaging of dairy, juice and culinary goods.
Led by Cindy Ai and Mark Kleyner, Dream VC moves to democratize access to African VC space
Dream VC is an investor accelerator and community-driven educational platform.
Aga Khan-backed Jubilee acquires additional stake in Johann Rupert-linked SEACOM
SEACOM is privately funded and about 75-percent African-owned.
South African mining mogul Neal Froneman gains $4.1 million from stake in Sibanye-Stillwater
Sibanye-Stillwater is a multinational precious metal mining company.
Charles Mbire-led MTN Uganda reports $94.26 million in profit in 2021
Mbire’s 3.98-percent equity position in MTN Uganda is valued at $44.35 million.
Johann Rupert’s Richemont suspends commercial activities in Russia
Rupert’s net worth has dropped by more than $1.8 billion this year.
Booming industries for African billionaires
Africa’s wealthiest made their fortunes by investing in industries like manufacturing, retail, telecoms, mining and oil.
Moroccan industrial tycoon Adil Douiri loses $1 million from stake in Mutandis
Mutandis has become a leading player in the Moroccan consumer goods market under Douiri’s leadership.
South African billionaire Patrice Motsepe to receive $69.6 million in dividends from ARM
Motsepe, who has been instrumental in the success of the South African miner, has a substantial 39.7 percent interest in the company.