Billionaire Patrice Motsepe’s Sanlam finalizes deal to create massive South African money manager
The company’s merger with Absa Investments will result in one of the country’s largest Black-owned asset managers.
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Former Steinhoff International CEO Markus Jooste gains $7.4 million in three months
Steinhoff is a South African-German-Dutch global retail holding dual-listed in Germany and South Africa.
Malawian tycoon Thomson Mpinganjira bags nine-year sentence in election bribery case
The judge said the tycoon committed a serious felony and was wrong for trying to use his money to pervert justice.
Christopher Pucillo-linked Avanti Communications looks to boost connectivity in rural Sub-Saharan Africa
Its new managed satellite service provides 2G, 3G and 4G services to remote areas.
Patrice Motsepe’s TymeBank partners with The Foschini Group, eyes 26 million South African customers
The partnership is part of the bank’s strategy to collaborate with retailers.
Ten of the richest businessmen in Ethiopia — most of whom you’ve likely never heard of
Despite ranking only 29th in Africa by economic wealth, Ethiopia is a land of riches for thousands.
Runa Alam’s DPI closes African Development Partners III Fund at $900 million, exceeding $800-million benchmark
The fundraising establishes ADP III as one of the largest funds dedicated to investing global capital in Africa.
Egyptian property tycoon Hisham Talaat Moustafa looks to Iraq, Saudi Arabia for growth
Iraq’s instability over the past 30 years has created a demand for housing projects.
Nigerian oil billionaire Mohammed Indimi acquires additional shares in Jaiz Bank for $8 million
Indimi is the chairman of Oriental Energy Resources, a privately held Nigerian oil exploration firm.
Telecom tycoon Sam Darwish’s IHS Towers begins IPO on NYSE
The company and its shareholders will split the 22.5 million ordinary shares to be listed in the IPO.
Egyptian billionaire Nassef Sawiris’ Fertiglobe plans IPO
The deal will be the first onshore listing of a free zone company in the UAE.
Ghana’s richest investor Daniel Ofori earns $2.4 million in 29 days as shares in Societe Generale Ghana surge
Shares in Societe Generale Ghana have surged to their highest level in three years.
Arnaud Dalais-led CIEL Limited posts $10.45-million full-year profit, as earnings rebound
CIEL is a Mauritian conglomerate operating in emerging markets across Africa and Asia.
Meet Hamis Kiggundu, the 37-year-old entrepreneur who built a property empire in Uganda
Kiggundu is one of East Africa’s most revered young entrepreneurs and a real estate mogul of note.
Mauritian banker Pierre Guy Noel to pocket $291,520 in final dividend from MCB Group
The dividend will be paid from the $194.5 million in profit that the lender posted at the end of its 2021 financial year.
Indian billionaire Sunil Bharti Mittal’s Airtel Africa to buy out minority investors in Nigerian subsidiary in $148-million deal
The company has initiated a process to buy back the 8.27-percent minority stake at an offering price of $0.1358 per share.