Christo Wiese-linked retailer Steinhoff receives approval for $1.6-billion global settlement for investors
The retail behemoth was founded in 1964 by German billionaire Bruno Ewald Steinhoff.
Hot News
Kenyan tycoon Jaswant Rai challenges Mumias Sugar’s leasing contract to younger brother’s firm
The legal action is expected to exacerbate the Rai brothers’ feud over their late father’s inheritance.
Egyptian billionaire Yasseen Mansour loses $2.56 million as Palm Hills shares slump by double digits
Palm Hills is a leading property developer with active investments and operations in Egypt.
Mansoor Hamayun’s Bboxx secures $15-million loan facility to finance solar systems for Kenyans
Bboxx is a next-generation utility company.
Sam Darwish’s IHS Towers to acquire tower assets in Brazil in $315-million deal
IHS Towers is a leading telecom infrastructure firm founded by U.S. tycoon Sam Darwish.
Nassef Sawiris’ Orascom Construction completes acquisition of equipment distribution business
Orascom Construction has completed the acquisition of a leading equipment importation, distribution and services business in Egypt.
Mohammed Akoojee’s Imperial Logistics partners with UbiPharm to create Africa’s largest healthcare distribution network
Akoojee owns 0.19 percent of Imperial Logistics, a leading logistics company.
The 10 richest people in Africa in 2022
Africa’s billionaires recorded an impressive surge in their net worth in 2021 despite the global pandemic.
Nigerian billionaire Aliko Dangote retains position as Africa’s richest man for eleventh year in row
Forbes ranked Dangote as Africa’s richest man in its 2022 African billionaires list.
Temitope Lawani’s Helios Investment Partners announces first fund for ESG investments in Africa
Rand Merchant Bank and Standard Chartered Bank arranged and coordinated the ESG-linked capital call facility.
South African businessman Neal Froneman’s Sibanye-Stillwater cancels $1 billion deal to take over mines in Brazil
Sibanye-Stillwater is the world’s largest primary producer of platinum.
Africa’s richest man Aliko Dangote’s refinery to kickstart operations in Q3 2022
The plant will begin full production possibly by the end of 2022, or the beginning of 2023.
Billionaire mining mogul Patrice Motsepe acquires luxury wine farm in South Africa
The leading businessman purchased the 28-hectare farm for between $5.5 million and $7.9 million.
African philanthropy’s response to the COVID-19 pandemic
Although COVID-19 blind-sighted the world, the philanthropic response of African donors was nothing short of inspiring.
Mauritian businessman Pierre Guy Noel’s stake in MCB Group is now worth $9.7 million
MCB Group is a financial services holding headquartered in Port Louis, the capital city of Mauritius.
Moncef Sellami’s OneTech Holdings reports $313.9 million in revenue in 2021
Sellami founded the industrial behemoth in 1978.