South African tycoon Johan Burger loses $5.8 million on investment in FirstRand
FirstRand Limited is Africa’s largest financial services group in terms of market capitalization.
South African businessman Alan Pullinger loses $4.35 million from stake in FirstRand
Pullinger owns about 0.1 percent of the leading lender, or 5,634,679 ordinary shares.
Africa’s richest man Aliko Dangote restates commitment to 1.5 metric tonnes per year of sugar production
Dangote Sugar Refinery has a refining capacity of 1.44 million metric tonnes.
Algerian media mogul Anis Rahmani jailed for graft
Rahmani, the head of Ennahar, had been on trial for violation of foreign exchange regulations.
Kenyan businessman Joe Wanjui sues British multinational firm Unilever over sale of stakes in Limuru Tea
Wanjui derives his wealth from a diversified investment portfolio.
Shell to receive final bids from Nigerian mogul Tony Elumelu’s oil firm, others for $2.3-billion oil assets
The move comes nearly a year after the British energy giant announced plans to divest its interests in Nigeria.
Founded by Ismael Belkhayat, Moroccan e-commerce startup Chari acquires Diago of Ivory Coast
Chari was founded by Ismael Belkhayat and his wife, Sophia Alj.
Moroccan billionaire Othman Benjelloun has now lost $200 million since start of 2022
Benjelloun, one of Africa’s richest billionaires, has a net worth of $2 billion.
Moroccan billionaire Aziz Akhannouch’s net worth slumps by $200 million since start of 2022
Akhannouch has a fortune of $2 billion.
Wealthy Kenyan Ndegwa family gains $3.1 million from stake in NCBA Group
The Ndegwa family owns 12.52 percent of NCBA Group, which is worth more than $45 million.
Egyptian multimillionaire Medhat Khalil’s Raya Holding to sell stake in Ostool Transport in $14.3-million deal
Raya Holding has grown into a leading brand in Egypt since its formation in 1999.
Nigerian banking magnate Jim Ovia’s Zenith Bank pays investors balance of $500 million Eurobond
Ovia owns a significant 16.2-percent stake in the leading lender worth over $300 million.
Dubai billionaire Hussain Sajwani acquires De Grisogono, once owned by Isabel dos Santos
dos Santos was previously the majority shareholder of De Grisogono, a Swiss luxury jeweller.
African Bank to acquire Johann Rupert-linked Grindrod in $97-million deal
Grindrod is a freight logistics and shipping services company owned in part by Rupert’s Remgro Limited.
Moroccan businessman Adil Douiri loses $2.6 million from stake in Mutandis
Douiri owns 6.88 percent of the consumer goods firm.
Nigerian tycoons Femi Otedola, Hassan-Odukale to pocket $3.9-million in dividends from FBNH
The news comes several months after the businessmen revealed their stakes in the bank.