Egyptian tycoon Ashraf Sabry’s Fawry plans U.S. listing, additional $50.9-million capital raise
Fawry is one of Africa’s few tech unicorns.
Hot News
Led by Tunisia’s Ben Yedder family, Ennakl Automobiles reports over $186.6 million in revenue in 2021
Ennakl Automobiles is a Tunisian vehicle retailer majority-owned by the wealthy Ben Yedder family.
Egypt’s richest man Nassef Sawiris enters ‘exclusive negotiating agreement’ to own MLS 30th extension team
MLS is a men’s professional soccer league and the highest level of professional soccer in the United States and Canada.
Tunisian tycoon Abdelwaheb Ben Ayed’s Poulina Group reports $1.1 billion in revenue in 2021
Poulina Group is a Tunisian conglomerate with interests in real estate, public works and infrastructure, wood and home appliances.
Senegalese tech entrepreneur Bamba Lo’s PAPS secures $4.5 million in funding to expand operations
Lo, a Senegalese digital entrepreneur, launched PAPS in 2016 to provide end-to-end logistics solutions for firms.
Vox Royalty to acquire $8.3-million royalties from Neal Froneman’s Sibanye-Stillwater PGM project
The royalties will collectively cover the entire Limpopo PGM Project, operated by Sibanye-Stillwater.
Moroccan real estate magnate Alami Lazraq gains more than $6.1 million in 20 days
Lazraq owns 51.7 percent of the Moroccan home builder, Alliances Developpement Immobiliere.
Africa’s second-richest man Johann Rupert gains $400 million as investors react to Richemont’s sales
The Swiss luxury goods firm reported revenues of $6.42 billion in the three months between October and December 2021.
Capitec CFO Andre Du Plessis’ shareholding in bank now worth $120.4 million
Du Plessis, a co-founder and the outgoing CFO of the South African bank, has a beneficial 0.008-percent ownership in the company.
Moroccan startup Chari, led by Sophia Alj and Ismael Belkhaya, gets $100-million valuation in bridge round
Chari is a fintech startup digitizing the heavily fragmented FMCG sector in French-speaking Africa.
Zak Calisto’s Karooooo posts $24.9 million as profit in 9M 2022, 3.9-percent lower than last year’s figures
Karooooo is a major international provider of smart transportation management and analytics.
Nigerian billionaire Abdul Samad Rabiu loses $69 million from stake in BUA Foods
Rabiu owns 99.8 percent of the newly established food business segment.
Zimbabwean businessman Zinona Koudounaris loses over $3.8 million in single day from stake in Axia Corp
Koudounaris holds a governance role in Axia and controls a 20.86-percent stake in the Zimbabwe-based firm.
Tracey Turner’s 10-year-old startup, Copia, secures $50 million to drive pan-African expansion
Copia is a B2C e-commerce platform serving middle- and low-income African consumers.
James Mwangi’s Equity Bank secures $49.3 million in funding for onward lending to small businesses
The funds will be deployed to render support through microcredit loans to small and medium-type businesses in Kenya.
Moroccan Prime Minister Aziz Akhannouch’s stake in Afriquia Gaz now worth over $600 million
Afriquia Gaz SA is a Morocco-based group engaged in refining and marketing liquefied petroleum gas.