Kenya’s Merali family sells 35-percent stake in Nairobi-based batteries distributor
While the aggregate consideration remains undisclosed, the Naushad Merali family received a premium above the market price.
Owned by Kenya’s Mukuha family, Naivas rakes in $15.2-million profit in 9M 2023
The leadership of the Mukuha family has played a pivotal role in the company’s growth.
South Africa’s second-richest man Nicky Oppenheimer adds $75 million to his fortune
Oppenheimer is an influential figure in the business world.
Swiss billionaire Gianluigi Aponte’s AGL wins contract to manage Zanzibar port
Aponte is the founder of MSC, the world’s largest shipping line and owner of Africa Global Logistics.
Algeria’s richest man Issad Rebrab arrested over foreign dealings
Rebrab was reportedly arrested on May 17 by agents of the Algerian Central Office for the Fight against Organized Crime.
Kenyan banker Gideon Muriuki’s Co-op Bank rakes in $44.4 million profit in Q1 2023
Under the leadership of Muriuki, Co-op Bank has fortified its position as a key player in the region.
Mauritian tycoon Hector Espitalier-Noel’s ENL reports stellar $33.9 million in profit
ENL Limited reports a stellar $33.9 million in profit, driven by robust revenue growth.
Nigerian billionaire Mike Adenuga strikes gold as Conoil stake skyrockets by $24 million
Adenuga has seen an impressive surge in his Conoil stake, solidifying his position among Africa’s wealthiest businessmen.
Egyptian entrepreneur Ashraf Sabry’s Fawry reports $4.6-million profit in Q1 2023
Sabry’s Fawry surpasses expectations in Q1 2023 with a triple-digit profit surge, consolidating its position as a fintech leader.
Nigerian billionaire Kola Karim, Mota Engil win Abuja airport concession
Karim is a part owner of Mota Engil Nigeria, which is a joint venture between his Shoreline Group and Mota Engil.
Angolan oil tycoon Joaquim David eyes 50,000bpd for Etu Energias
David is the founder of Etu Energias, the largest private oil company in the country.
Egypt’s second-richest man Naguib Sawiris suffers $110 million loss in just nine days
Sawiris, Egypt’s second-richest billionaire, faces a net-worth decline amid subdued gold prices.
Zimbabwe’s richest man Strive Masiyiwa bounces back stronger, gains $1 billion in 2023
Masiyiwa’s net worth has soared by $1 billion in 2023.
Nassef Sawiris’ Orascom Construction sells chemicals subsidiary for $53 million
This divestment is part of Orascom’s strategy to extract value across its assets for allocation to growth and value-accretive areas.
Egyptian billionaire Mohamed Mansour set to buy Major League Soccer team for $500 million
Mansour oversees Mansour Group, a family conglomerate, and has a net worth of $3.6 billion.
Chris Kirubi’s heirs suffer $1.44-million loss from stake in Kenya’s largest listed investment firm
The heirs of late Kenyan billionaire Chris Kirubi experience a significant decline in Centum Investment’s stake.