Egyptian tycoon Ahmed El Sewedy’s electric company signs $28.3-million contract for project in new administrative capital
Elsewedy Electric for Trading and Distribution is a 99.8-percent-owned subsidiary of Elsewedy Electric.
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Malawian tycoon Hitesh Anadkat gains $16 million from stake in Mauritius-based FMB Capital Holdings
Anadkat is the founder of FMB Capital Holdings and holds a substantial 35.51-percent stake in the company.
Zimbabwean executive Basil Dionisio gains $2.68 million in two weeks
Basil Dionisio is the CEO of Simbisa Brands Limited.
Kenyan tech entrepreneur Eric Muli’s Lipa Later secures $12 million to expand in Africa
Lipa Later is a Kenyan consumer credit platform co-founded by Kenyan tech entrepreneur Eric Muli in 2018.
Kenyan high court suspends Mumias Sugar Lease to Sarrai Group weeks after ligation by Julius Mwale
The court action comes nearly two weeks after Kenyan tycoon Julius Mwale challenged the leasing of Mumias Sugar’s assets to Sarrai Group.
Zimbabwean tycoon Paddy Zhanda’s stake in Masimba Holdings now worth $3.27 million
Masimba Holdings provides engineering and infrastructure solutions across various sectors.
Africa’s richest man Aliko Dangote gains $600 million as cement company plans to buy back $112.75 million in shares
Dangote’s wealth has increased by over $929 million since the start of the year.
Court vacancies hamper Kenyan tycoon Baloobhai Patel’s $10.6-million acquisition deal via Carbacid Investments
Patel owns a 49.9-percent stake in Carbacid.
Nigerian tycoon Jim Ovia gains $24.5 million in 40 days from stake in Zenith Bank
Ovia’s stake in Zenith Bank is now valued at more than $312 million.
Egypt’s richest man Nassef Sawiris gains $260 million in four days
Sawiris’ stake in Adidas, the largest sportswear company in Europe, accounts for the bulk of his $6.69-billion fortune.
Cameroonian entrepreneur Eunice Ajim launches $10-million fund to support African tech startups
Ajim Capital plans to write checks between $25,000 to $150,000 for at least 60 tech startups in Africa.
Cameroonian banker Alain Nkontchou spends $2.35 million to acquire shares in Ecobank Group
Nkontchou spent a total cash consideration of $2.35 million to increase his stake from 0.26 percent to 0.98 percent.
Tunisian tycoon Mehdi Tamarziste’s UBCI grants $52.5-million loan to Enda Tamweel
UBCI is a leading Tunisian commercial bank and an operating subsidiary of BNP Paribas.
Warner Music Group acquires majority stake in Yoel Kenan’s Africori
Africori helps create global opportunities for African artists.
Nigerian tech entrepreneur Emmanuel Okeleji’s SeamlessHR raises $10 million to drive pan-African expansion
SeamlessHR is a Nigerian HR tech startup founded in 2018 to provide technology solutions to manage HR data and workflow.
Moroccan businesswoman Lamia Tazi gains $1.53 million in 22 days from pharma company, Sothema
Sothema is the leading healthcare company in Morocco, and one of the leading pharma companies in Africa and the Middle East.