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Egyptian tycoon Sadek El-Sewedy sees $55 million gain from company shares
Elsewedy Electric stock gains boost chairman's net worth amid infrastructure boom and energy transition in MENA region.
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Ghabbour family’s GB Corp stake surges past $300 million
The recent rally has boosted the market value of the Ghabbour family’s 63.4% stake by $23.48 million, increasing from $279.94 million to $303.42 million.
Edha Nahdi's Bamburi Cement launches concrete plant in Mombasa
Bamburi Cement, now owned by Edha Nahdi’s Amsons Group, has launched a new concrete plant in Mombasa to meet rising demand and fuel its recovery.
Manu Chandaria: Kenyan industrialist behind billion-dollar conglomerate
At 96, Chandaria is still at the helm, guiding Comcraft into its next phase with plans to take key subsidiaries public.
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U.S.-Nigerian telecom executive Sam Darwish’s stake in IHS gains nearly $6 million
The recent rally has driven Sam Darwish’s stake to nearly $50 million.
Ghabbour family, one of Egypt’s wealthiest, gains $21.5 million from GB Corp.
The recent rally in GB Corp.’s shares has pushed the Ghabbour family’s stake to nearly $234 million.
Alan Pullinger, South African banker, sees stake in FirstRand dip below $30 million
The decline in Pullinger’s stake reflects the broader uncertainty among investors.
Egyptian tycoon Sadek El-Sewedy sees $55 million gain from company shares
Elsewedy Electric stock gains boost chairman's net worth amid infrastructure boom and energy transition in MENA region.
Moroccan billionaire Anas Sefrioui sees $102 million loss in 30 days
This follows a sustained downturn on the Casablanca bourse and rising investor concerns over the company’s financial performance in the 2025 fiscal year.
Dalia Khorshid drives Beltone to $56 million revenue in Q1 2025
Beltone’s Q1 revenue surged 111% to $56 million, driven by strong growth in NBFI and investment banking, reinforcing its lead in Egypt’s financial sector.
Samih Sawiris’ Orascom Development Egypt posts Q1 revenue of $127 million
Orascom Development Egypt posted $126.8 million in Q1 revenue, driven by hotels and land sales, despite a dip in real estate bookings.
Edita chairman Hani Berzi loses $7 million as shares fall
The decline stems from a steep fall in the company’s share price on the EGX, reflecting growing investor caution.
Safwan Thabet's stake in Juhayna slumps below $300 million
Thabet has watched the value of his stake slump by $44.99 million over the past 26 days. His holdings are now worth around $260 million.
Electric giant led by Egypt's El-Sewedy family inks $274.7 million Qatar contract
Elsewedy Electric signs a $274.7 million Qatar deal to supply and install 132kV power cables, advancing Kahramaa’s grid and Qatar’s infrastructure goals.
Yasseen Mansour's Palm Hills books $1 billion in Q1 sales
Palm Hills, chaired by Yasseen Mansour, kicked off 2025 with $1 billion in Q1 sales, up 148%, driven by booming demand in New Cairo, Badya, and Alexandria.
Lebanese-Nigerian tycoon Hassan Hammoud plans $50 million investment in Ogun
This development marks a significant milestone in Nigeria’s push to expand its manufacturing capabilities and create jobs.
Oando, led by Wale Tinubu, wraps up pipeline repairs after spills
To prevent further incidents, Oando has initiated the sectional replacement of aging pipelines.
Nigeria’s 7 richest royal families
Their businesses not only fuel the economy but also create jobs, foster community development, and drive inclusive growth.
Nigerian gambling magnate Kessington Adebutu’s Wema Bank stake tops $50 million
Adebutu, who founded Premier Lotto, owns a 28.26 percent stake in Wema Bank through Neemtree Limited, amounting to 6,057,090,218 shares.
Mike Adenuga exports new Nigerian crude grade to international market
The Obodo blend is a medium sweet crude extracted from the onshore OML 150 block, operated by Continental Oil & Gas Limited, one of Conoil Producing’s units.
Adegbite Falade-led Aradel commits $20 million to Chappal Energies acquisition
The move is part of a broader plan to diversify its operations and build a stronger presence in Nigeria’s energy sector.
IHS stake of U.S.-Nigerian telecom executive Sam Darwish tops $60 million
This is linked to an increase in IHS Holding’s share price on the New York Stock Exchange (NYSE), driven by renewed investor confidence.
GEIL completes $400 million onshore project under Anthony Adegbulugbe
Anthony Adegbulugbe’s GEIL completes the $400 million Otakikpo terminal, Nigeria’s first indigenous onshore crude export hub in over 50 years.
Workers seek dues at Bernard Soi’s recently acquired Muhoroni firm
Bernard Soi’s takeover of Muhoroni Sugar sparks labor protests as workers demand unpaid dues, exposing tensions in Kenya’s push to privatize state mills.
Peter Ndegwa leads Safaricom to historic $3 billion revenue
Safaricom posted $3.01 billion in revenue, marking a historic first in East Africa, as it eyes tech-driven growth in Kenya, Ethiopia, and beyond.
Baloobhai Patel linked-Absa Kenya backs $52 million student housing in Nairobi
Absa Bank Kenya, partly owned by investor Baloobhai Patel, is backing a $52 million student housing drive to ease Nairobi’s 300,000-bed deficit.
Firm linked to World’s richest Black man acquires Kenya’s oldest tour company
This reflects the growing appeal of Kenya’s tourism sector to international investors.
Jaswant Rai to invest $43.3 million in recently acquired Nzoia Sugar
Kenya’s Jaswant Rai to invest $43.3 million in reviving Nzoia Sugar, aiming to modernize operations and boost cane development under a 30-year lease.
James Mwangi-led Equity Group seals $495 million deal for MSME
The strategic alliance is set to revolutionize financial access for Micro, Small, and Medium Enterprises (MSMEs) across East and Central Africa.
Charles Russon-led Absa secures $75 million to boost climate projects
Absa Bank Mauritius secures $75 million from France’s Proparco to back solar, waste, and green building projects aligned with Africa’s climate goals.
Ugandan tycoon Charles Mbire's stake in MTN Uganda nears $70 million
Over the past 51 days, the value of his shares has jumped by Ush17.91 billion (around $4.89 million) as renewed optimism lifts MTN Uganda’s stock price.
Investec, led by Fani Titi, seeks electricity trading license
If approved, the lender will purchase power from the Illikwa Solar PV Facility in the Free State and transmit it to its corporate headquarters in Sandton via Eskom’s infrastructure.
Zak Calisto’s Karooooo reports $250 million in 2025 revenue
Karooooo’s FY 2025 revenue hit $249.87 million, driven by subscription growth and global expansion, reaffirming its role as a leader in mobility solutions.
Ackerman family sees $13.95 million decline in Pick n Pay stake
The recent dip is a reflection of the growing pressure facing one of South Africa’s most recognizable retail names.
Christo Wiese’s Shoprite stake jumps $97 million
His stake in the company has surged by over $97 million, driven by a strong rally in Shoprite’s shares on the Johannesburg Stock Exchange (JSE).
Zimbabwean billionaire Strive Masiyiwa sells $1.1 million in Netflix shares
Strive Masiyiwa, Zimbabwe's richest man, has been gradually reducing his stake in Netflix over the past year.
PIC takes new shares worth $11.85 million in Neal Froneman-led Sibanye
PIC has increased its stake in Sibanye to 15.409% with a $11.85 million share purchase, signaling renewed confidence ahead of CEO Neal Froneman’s retirement.
Discovery co-founder Adrian Gore sees $60 million rebound in stake
The surge follows a strong rally in Discovery’s share price on the Johannesburg Stock Exchange (JSE).
Johann Rupert’s net worth rises by $488 million in 24 hours
The boost further cements his position as Africa’s second-richest person, behind Nigerian industrialist Aliko Dangote.
Preem, formerly owned by Mohammed Al-Amoudi, posts $3.29 billion in Q1 sales
Preem's Q1 2025 sales dropped 8.3% to $3.29 billion, with weaker margins and downtime impacting profits.
Samuel Tafesse: Ethiopian developer behind Africa’s first Marriott hotel
From fixing roofs in Addis Ababa to developing sub-Saharan Africa’s first Marriott hotel, Tafesse has become one of Ethiopia’s top businessmen.
VARO Energy to acquire Preem from Ethiopian billionaire Mohammed Al-Amoudi
This acquisition signals the end of Ethiopian billionaire Mohammed Al-Amoudi’s long-standing role in Sweden’s energy sector.
Belayneh Kindie ventures into Ethiopia’s electric mobility space with 100 e-buses
Ethiopian businessman Belayneh Kindie launches 100 locally assembled electric buses in Addis Ababa, advancing Ethiopia’s clean transit and electric mobility goals.
Ethiopia’s richest man Mohammed Al-Amoudi sees Preem stake soar to $4.7 billion
Preem’s newly published 2024 annual report provided fresh insights into its valuation, driving up the value of Mohammed Al-Amoudi’s stake.
Ethiopian billionaire Mohammed Al-Amoudi’s Preem posts $12.8 billion in 2024 revenue
The company reported lower revenue and profit for the second straight year, reflecting weaker refining margins and a challenging market environment.
Ethiopia’s 10 richest businessmen
These business leaders are not just accumulating wealth; they are pivotal players in Ethiopia’s transformation.
Ethiopia's richest man adds $552 million to his net worth in 2025 after last year's loss
His net worth now stands at $9.4 billion, reinforcing his status among the world’s wealthiest individuals.
Latest Posts
Egyptian tycoon Sadek El-Sewedy sees $55 million gain from company shares
Elsewedy Electric stock gains boost chairman's net worth amid infrastructure boom and energy transition in MENA region.
Moroccan billionaire Anas Sefrioui sees $102 million loss in 30 days
This follows a sustained downturn on the Casablanca bourse and rising investor concerns over the company’s financial performance in the 2025 fiscal year.
Investec, led by Fani Titi, seeks electricity trading license
If approved, the lender will purchase power from the Illikwa Solar PV Facility in the Free State and transmit it to its corporate headquarters in Sandton via Eskom’s infrastructure.
Zak Calisto’s Karooooo reports $250 million in 2025 revenue
Karooooo’s FY 2025 revenue hit $249.87 million, driven by subscription growth and global expansion, reaffirming its role as a leader in mobility solutions.
Dalia Khorshid drives Beltone to $56 million revenue in Q1 2025
Beltone’s Q1 revenue surged 111% to $56 million, driven by strong growth in NBFI and investment banking, reinforcing its lead in Egypt’s financial sector.
Lebanese-Nigerian tycoon Hassan Hammoud plans $50 million investment in Ogun
This development marks a significant milestone in Nigeria’s push to expand its manufacturing capabilities and create jobs.
Workers seek dues at Bernard Soi’s recently acquired Muhoroni firm
Bernard Soi’s takeover of Muhoroni Sugar sparks labor protests as workers demand unpaid dues, exposing tensions in Kenya’s push to privatize state mills.
Ackerman family sees $13.95 million decline in Pick n Pay stake
The recent dip is a reflection of the growing pressure facing one of South Africa’s most recognizable retail names.
Christo Wiese’s Shoprite stake jumps $97 million
His stake in the company has surged by over $97 million, driven by a strong rally in Shoprite’s shares on the Johannesburg Stock Exchange (JSE).
Zimbabwean billionaire Strive Masiyiwa sells $1.1 million in Netflix shares
Strive Masiyiwa, Zimbabwe's richest man, has been gradually reducing his stake in Netflix over the past year.
Oando, led by Wale Tinubu, wraps up pipeline repairs after spills
To prevent further incidents, Oando has initiated the sectional replacement of aging pipelines.
Samih Sawiris’ Orascom Development Egypt posts Q1 revenue of $127 million
Orascom Development Egypt posted $126.8 million in Q1 revenue, driven by hotels and land sales, despite a dip in real estate bookings.
PIC takes new shares worth $11.85 million in Neal Froneman-led Sibanye
PIC has increased its stake in Sibanye to 15.409% with a $11.85 million share purchase, signaling renewed confidence ahead of CEO Neal Froneman’s retirement.
Discovery co-founder Adrian Gore sees $60 million rebound in stake
The surge follows a strong rally in Discovery’s share price on the Johannesburg Stock Exchange (JSE).
Johann Rupert’s net worth rises by $488 million in 24 hours
The boost further cements his position as Africa’s second-richest person, behind Nigerian industrialist Aliko Dangote.
Strive Masiyiwa’s Cassava strikes deal to support AI growth in Africa
The partnership marks a strategic move by Cassava to deepen its commitment to digital transformation in Africa through scalable AI solutions.
