Congolese billionaire Lucien Ebata to raise $580 million in pre-export financing for oil shipments
Ebata, one of Africa’s richest men, is the founder and CEO of Orion Oil and publisher of Forbes Afrique.
Cameroon’s richest man Baba Ahmadou Danpullo brings MTN to its knees
Earlier this year, Danpullo accused First National Bank of orchestrating the misleading seizure and liquidation of his South African properties.
Nigerian banker Herbert Wigwe suffers $9-million loss from stake in Access Holdings
Wigwe, the group managing director and CEO of Access Holdings, Nigeria’s largest lender in terms of assets, holds a 9.09-percent stake in the lender.
Egyptian businessman Hani Berzi gains $55 million from Edita stake
Berzi owns a significant 41.95-percent stake in the leading packaged food manufacturer through Quantum Invest BV.
Kenyan multimillionaire industrialist Narendra Raval plans 60 MW wind farm
The decision to establish the wind power plant, a strategic maneuver to cut operating costs, follows an earlier revelation.
South African Ackerman family faces $20-million loss since start of August
The Ackerman family owns a notable 25.53-percent stake in Pick ‘n Pay, constituting 124,677,238 issued shares.
Kenyan tycoon Ken Njoroge-backed startup targets $1 million via crowdfunding
This strategic move comes on the heels of MarketForce’s remarkable feat last year, when it secured $40 million in a Series-A funding round backed by Ken Njoroge.
Egypt’s Khamis family gains $11 million from Oriental Weavers’s stake
Egyptian businesswoman and executive Yasmine Mohamed Khamis and her siblings own a 56.58-percent controlling interest in the leading carpet manufacturer.
Zimbabwean mogul Zed Koudounaris gains $7 million from stake in Axia Corp
Koudounaris owns 20.6 percent of Harare-based Axia Corp., which translates to a total of 113,982,912 ordinary shares.
South African mining billionaire Brian Menell secures $200-million funding
Menell, founder of Techmet, is a scion of the Menell family who founded and controlled the Anglovaal Group.
Led by South Africa’s wealthy Ravazzotti family, Italtile faces tough times
Ravazzotti, the founder of Italtile, holds a 33.88-percent stake in Italtile, presently valued at $287.1 million.
South African billionaire Christo Wiese’s stake in Shoprite jumps by $100 million
Wiese, a South African billionaire who played an instrumental role in Shoprite’s growth, owns 11.63 percent of the company.
South African tycoon Adrian Gore loses $13.6 million as Discovery shares slump
Gore, who founded Discovery in 1992 and ranks as one of South Africa’s richest businessmen, owns a 7.48-percent stake in the Sandton-based insurance giant.
South African billionaire Koos Bekker’s net worth dips by $100 million
Despite these setbacks, Bekker remains one of the most affluent billionaires in Africa, boasting a net worth of $2.4 billion.
Nigerian pharma tycoon Stella Okoli, U.S. gov’t partner to combat malnutrition
Emzor, which Okoli owns, will partner with the U.S. government to establish a processing facility for medical-grade groundnut paste.
South African billionaire makes progress with Cape Winelands Airport
Hersov is set to complete the construction of the Cape Winelands Airport which he acquired in 2021.