Botswana tycoon Gulaam Abdoola loses over $1 million from Turnstar investment
Despite the million-dollar decline, the businessman still ranks as one of the wealthiest investors on the Botswana Stock Exchange.
Burkinabe banking tycoon Idrissa Nassa’s Coris Bank secures $19.4 million to support SMEs
Coris Bank International is a financial services organization headquartered in Burkina Faso with activities throughout Francophone Africa.
Nigerian billionaire Mike Adenuga’s Conoil earns over $4.3 million in profit in H1 2022
Adenuga holds a 74.4-percent stake in the oil marketing business.
Aliko Dangote loses $700 million in July amid stock market sell-off, naira slump
However, he remains one of the few billionaires who has seen impressive gains since the year began.
Kenya’s apex bank: Olugbenga Agboola’s Flutterwave, Ham Serunjogi’s Chipper Cash not licensed
The bank’s statement comes after Flutterwave denied links to a $59-million money laundering scheme.
Patrice Motsepe-linked MetroFibre secures $298 million in debt funding from Standard Bank Group
MetroFibre is partly owned by African Rainbow Capital, an investment unit founded by Motsepe.
Egyptian mogul Medhat Khalil-linked Aman Holding’s capital soars above $32 million
The fintech company’s capital has now risen to $32.4 million.
South African exec Mark Blair pockets $3.37 million in remuneration in 2022
The compensation is more than three times the $1.12 million that he received in the 2020-2021 fiscal year.
Cameroonian mogul Samuel Foyou’s group plans to review share capital of subsidiary, Plasticam
Foyou, one of Cameroon’s wealthiest men, derives his fortune from the hotel, food, and printing industries.
Kenyan government suspends Tanzanian billionaire Rostam Aziz’s plans to build cooking gas plant
The freezing of his statutory licenses could lead to a trade spat between Kenya and Tanzania.
Wealthy Kenyatta family loses more than $4.5 million in 100 days as NCBA shares slump
The stake is linked to Ngina Kenyatta, Muhoho Kenyatta, and Uhuru Kenyatta, a leading politician who has served as Kenya’s president since 2013.
Namibian tycoon Quinton van Rooyen loses $47 million as Trustco shares slump to all-time low
Van Rooyen owns 63.94 percent of the leading Namibian company.
Led by Nigerian banker Peter Ashade, United Capital earns more than $10 million in profit in H1 2022
Profit for the six-month period ending June 30 increased by more than 41 percent, from $7.38 million in the first half of 2021 to $10.42 million.
Zimbabwean billionaire Strive Masiyiwa loses $2.9 billion, reducing net worth to $1.5 billion
Zimbabwe’s richest man and one of Africa’s wealthiest men, Masiyiwa has seen his net worth fall to $1.5 billion.
Somali tycoon Ismail Ahmed’s Zepz denies delays in $6-billion IPO
Zepz, the parent company of WorldRemit, stated that it has yet to formally announce an IPO timeline.
Led by South African businesswoman Portia Derby, Transnet signs $1.5-billion credit facility to fuel growth
The credit facility will be used to finance the company’s capital expansion program.