Malawian executive Jimmy Lipunga leads Illovo in $45 million loan deal
The facility, backed by majority shareholder Sucoma Holdings, will pay down part of Illovo’s $72 million liabilities, much of it owed to foreign suppliers and sister companies.
Malawi
Five new African billionaires have emerged so far in 2025
Five new billionaires join Africa’s top ranks in 2025, led by gains in real estate, banking, and tech sectors.
Thom Mpinganjira becomes Malawi’s first dollar billionaire
Malawian banker Thom Mpinganjira’s FDH Bank shares reach $1.12 billion, making him the country’s first billionaire and richest citizen.
Thom Mpinganjira becomes Malawi’s richest as FDH Bank stake soars to $1.1 billion
Thom Mpinganjira’s FDH Bank stake reaches $1.12 billion, making him Malawi’s richest man as the bank’s value surges to $2 billion in 2024.
Tanzanian billionaire Said Bakhresa opens $100 million soya plant in Malawi
$100 million plant to process 500 tons of soya daily, boost Malawi’s agriculture, and reduce reliance on imported cooking oil.
Malawian insurance mogul Vizenge Kumwenda gains $10.8 million from NICO stake
Beyond his investment in NICO Holdings, Kumwenda also owns a 0.17-percent stake in NBS Bank, valued at MWK1.73 billion ($1 million).
Malawi’s 15 richest people amass a stunning $1.92 billion fortune
Anadkat and Mpinganjira account for $1.66 billion of the total combined wealth of Malawi’s 15 richest individuals.
Malawi’s 15 richest people
Billionaires.Africa profiles Malawi’s 15 richest business leaders, highlighting their industries, key holdings, and financial impact.
FDH Bank projects $36.2 million profit in Q4 2024, resilient amid Malawi’s economic slowdown
Malawi’s economic slowdown hasn’t deterred FDH Bank, whose strategic focus and cost management continue to deliver robust profitability and growth.
Malawi business tycoon Hitesh Anadkat gains $148.7 million from FMB Capital
This latest surge builds on the strong performance of his stake in 2023, when it increased by MWK178.2 billion ($105.88 million).
Bank owned by one of Malawi’s richest men, Thom Mpinganjira, to pay $4.1-million dividend
The record dividend payout underscores its unwavering dedication to shareholder value and its position as one of the leading groups in Malawi’s financial services industry.
Malawian businessman Hitesh Anadkat loses $16 million as FMB Capital shares drop
Anadkat remains one of the wealthiest investors on the Malawi Stock Exchange and a prominent figure among the country’s most successful businessmen.
Malawian businessman Hitesh Anadkat gains nearly $16 million from FMB Capital
This recent bump in his fortune comes after his stake in FMB Capital Holdings declined by $6 million between Feb. 1 and March 9.