Nigerian banking tycoon Tony Elumelu eyes new investments in Caribbean markets
Elumelu is the founder of one of Nigeria’s largest financial services groups, United Bank for Africa.
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Key trends of African givers: Philanthropy is making its mark
Philanthropic practices in Africa have evolved through time and continue to shift.
Ghanaian tycoon Daniel McKorley’s McDan Group opens private jet terminal in Accra
McKorley’s McDan Group is a transportation and logistics company with interests in shipping, logistics, and aviation.
Led by Karl Toriola, MTN Nigeria reports profits of $718.5 million in 2021, 45-percent increase over previous year
During the year, its service revenue increased by 23.3 percent, from $3.22 billion in 2020 to $3.97 billion.
Greek tycoon John Coumantaros’ Flour Mills of Nigeria reports $41 million in profits in 9M 2022
Flour Mills of Nigeria reported a single-digit increase in profit in the first nine months of its 2022 fiscal year.
Indian tycoon Sunil Bharti Mittal’s Airtel Africa becomes ‘most-capitalized’ on NGX
Airtel Africa is a leading provider of telecom and mobile money services in East, Central and West Africa.
Christo Wiese-linked retailer Steinhoff looks to sell stake in Pepkor Group in move to offload $11-billion debt burden
Pepco Group is a fast-growing, multi-format, pan-European discount variety retailer.
Egyptian billionaire Naguib Sawiris’ Orascom Investment sells stake in TWA in $35-million deal
TWA is a JV between Orascom, Orastar and Omar Abdul Mone’m Yousuf Al Zawawi of the Sultanate of Oman.
South African billionaire Patrice Motsepe’s ARM acquires Bokoni mine for $334 million
ARM will invest $334 million per year in the development of the mine to get it up and running.
Nigerian billionaire Abdulsamad Rabiu’s BUA Cement commissions 3 million metric tonnes
BUA Cement’s market capitalization is $5.7 billion, making it the fourth most capitalized company on the Nigerian Exchange.
Controlled by Royal Family of Morocco, Managem partners with Glencore to produce cobalt
Managem is an industrial mining group with more than 90 years of experience operating a diversified metals portfolio.
Pieter Engelbrecht-led Shoprite posts $5.59 billion in revenue in H1 2022
The retailer’s market capitalization on the Johannesburg Stock Exchange is $7.8 billion.
Saltzman family of South Africa sells warehouse facilities to Dis-Chem for $14.2 million
Dis-Chem Pharmacies is a leading pharmacy retail and healthcare group based in South Africa.
Zimbabwe’s richest man Strive Masiyiwa joins Gates Foundation as board member
The Gates Foundation has given out more than $60 billion in grants since its inception 21 years ago.
Moroccan tycoon Moulay Hafid Elalamy to acquire substantial stake in Othman Benjelloun’s BMCE Group
Elalamy is the founder and owner of Saham Group, one of Morocco’s leading insurance service providers.
Aliko Dangote’s Dangote Cement buys back shares worth $84.5 million
Dangote Cement is Africa’s largest cement maker, with a production capacity of 48.6 million tonnes per year across 10 countries.