Segun Agbaje-led GTCO reports slight rise in earnings as profit nears $300 million in 9M 2022
Earnings during the first nine months of 2022 were significantly impacted by rising operating costs and tax obligations.
Botswana-based mogul Jonathan Gibson gains $1 million from stake in Chobe Holdings
Gibson is Chobe’s deputy chairman and CEO.
Zimbabwean social entrepreneur Tsitsi Masiyiwa launches AGI to tackle gender inequality in Africa
AGI was introduced more than seven months after Masiyiwa, along with other notable businesswomen and philanthropists launched a $1 billion gender fund.
Startup led by three Egyptian entrepreneurs raises $3.5 million eight months after launch
Kenzz aims to deepen e-commerce adoption in Egypt.
British-Nigerian entrepreneur Ladi Delano’s Moove secures $16.6 million to scale up UK operations
Founded by Delano and Jide Odunsi in 2020, Moove has successfully scaled to nine markets across Sub-Saharan Africa and India.
Cameroonian businessman Paul Fokam’s Afriland launches Togo investment holding
Fokam is one of Africa’s richest men.
South African businessman Fleetwood Grobler-led Sasol declares force majeure due to Transnet strike
Sasol operates in 33 countries and employs 30,100 people globally.
Moroccan real estate billionaire Alami Lazraq loses $8.3 million in 16 days from stake in ADI
ADI is an active member of the Alliances Group.
Nigerian billionaire Femi Otedola’s Zenon wins $19.2-million arbitration award against Ardova
Ardova reported a $8.93-million loss for the 2021 fiscal year.
Mauritian tycoon Hector Espitalier-Noel’s ENL posts first profit in two years
ENL is a diversified conglomerate with more than 120 international and domestic brands.
Kenyan businessman Andrew Ndegwa gains $3.6 million from stake in NCBA Group
Ndegwa owns 4.3 percent of NCBA Group.
Mauritian tycoon Arnaud Lagesse-led IBL considers buying stake in Reunion Island-based retail operator
IBL Group is a leading Mauritian conglomerate and one of the island’s largest firms.
Nigerian gov’t orders immediate reopening of Dangote’s Obajana cement plant
Obajana Cement Company is majority owned and operated by billionaire Aliko Dangote’s cement company, Dangote Cement Plc.
London-based Egyptian tycoon Mohamed Al Fayed’s net worth slumps by $200 million
Al Fayed amassed the majority of his fortune from the sale of his shares in Harrod’s.
Moroccan tycoon Hassane Amor has now lost $25.7 million from stake in Microdata
As the company’s founder and chairman, he owns 56.17 percent of the Casablanca-based IT services business.
Africa’s richest man Aliko Dangote’s group says $19-billion oil refinery is 97-percent complete
The refinery project has been long hampered by a number of factors.