Mauritian tycoon Arnaud Dalias-led CIEL reports $4.4 million in profits, as Q1 earnings rebound strongly
Dalais, who is the chairman of the Mauritian conglomerate, holds an eight-percent stake in the broad-based conglomerate.
Hot News
Led by Osayi Izedonmwen, Nigerian ed-tech startup Teesas secures $1.6-million pre-seed funding
Teesas connects outstanding tutors and learners to facilitate an effective learning experience via technology.
Nigerian multimillionaire Mohammed Indimi donates complex to local university
Indimi is the chairman and founder of Oriental Energy Resources, a privately held Nigerian oil exploration and production company.
Seplat Energy terminates contract of Nigerian oil mogul Austin Avuru as director
Avuru was asked to resign as a non-executive director due to alleged breaches of the company’s corporate governance policies.
Egypt’s wealthy Khamis family gains $12 million in three days as Oriental Weavers shares surge
The Khamis family currently holds a 56.58-percent majority stake in the carpet company.
Uganda-based Sarrai Group wins deal to revive Mumias Sugar; Kenyan tycoon Julius Mwale signals court action
Sarrai Group has edged out Mwale to win the lease to operate and revive Mumias Sugar.
Led by Mauritian Lagesse family, LUX Island Resorts gains $14.6 million in 20 days
Lux Resorts is a leading luxury hotel operator and resort owner in Mauritius.
Egyptian billionaire Nassef Sawiris close to sealing $321 million MLS soccer deal
Sawiris and Wes Edens are looking to set up an MLS outfit in Las Vegas.
South African executive Josua Malherbe gains $2.4 million in 2021 thanks to stake in Remgro
Malherbe is a non-executive, co-deputy chairman of Remgro.
Nigerian billionaires Dangote, Rabiu, others get $73 million in sugar subsidies
The subsidies program targets operators acting under Nigeria’s sugar backward intervention program.
Ten African startups that raised more than $100 million this year
This year remains unprecedented in the annals of African tech startups. It was a record-breaking year in terms of funding.
NCAA shuts Mike Adenuga’s Globacom base in Abuja over $12.2-million debt
Globacom owes the aviation authority close to $12.2 million due to its refusal to renew expired aviation certificates.
Zimbabwean businessman Sam Hosack’s Prospect Resources receives $422 million offer for lithium mine
Prospect Resources is a battery minerals company with a focus on lithium in and around Zimbabwe.
Zimbabwe’s richest man Strive Masiyiwa loses $70 million in two weeks as shares in Econet slump
Masiyiwa, who founded Econet Group in 1998, holds a 52.85-percent stake in Econet Zimbabwe, the country’s largest telecom service provider.
Nigerian billionaire Mike Adenuga gains $7 million in 2021 from stake in Julius Berger
Adenuga, the founder of Nigeria’s third largest telecom services provider, Globacom, owns a 25.1-percent stake in Julius Berger.
South African billionaire Michiel Le Roux hedges $157.2 million in Capitec shares over market worries
Le Roux is the founder of Capitec Bank and the fifth richest man in South Africa.