Here are the five billionaires who account for 3.8 percent of South Africa’s $683-billion private wealth
With a total private wealth of $651 billion, South Africa has more than twice as many billionaires as any other African country.
Herbert Wigwe’s Access Holdings posts $138.2 million in profit in Q1 2022
Access Holdings ranks as one of the most capitalized financial services institutions on the Nigerian Exchange.
Nigerian businessman Tony Elumelu’s UBA earns $100 million in profit in Q1 2022
Elumelu owns a sizable 6.39-percent stake in the company.
Egyptian multimillionaire Hassan Allam’s company is planning to build green hydrogen plants in Egypt
The plants will be located in the Suez Canal Economic Zone and along the Mediterranean coast.
Madagascar’s richest man Ylias Akbaraly to acquire U.S. broadcasting company GatesAir
GatesAir has announced that Thomson Broadcast has inked a definitive agreement to acquire them.
Tanzanian billionaire Rostam Aziz lobbies AfDB to increase agriculture funding
The tycoon’s appeal was intended to assist the country in becoming a major food exporter.
Wealth among Africa’s HNWIs will reach $3 trillion by 2031, new report reveals
Total private wealth in Africa is $2.1 trillion, and is expected to rise by 38 percent over the next decade.
Court orders convicted Malawian tycoon Thom Mpinganjira to sell FDH bank shares
Mpinganjira was sentenced to nine years in jail last year for attempting to bribe judges overseeing the 2019 presidential election.
Zimbabwean businessman Zinona Koudounaris gains over $245 million from stake in Axia Corp
The multimillion-dollar spike cements his position as one of the largest investors on the local bourse.
South African mogul Neal Froneman’s Sibanye-Stillwater approves new fund to drive R&D
Froneman owns a 0.074-percent stake in the company worth more than $10 million.
Nigerian billionaire Abdul Samad Rabiu’s BUA Cement posts $79.7 million in profit in Q1 2022
The result suggests that it is on track to deliver yet another record performance at the end of Q2 2022.
Africa’s richest man, Aliko Dangote, gains $500 million in 14 days, as cement company shares skyrocket
His year-to-date wealth gains are now $1.33 billion.
South African tech billionaire Mark Shuttleworth plans to list Canonical in 2023
Shuttleworth plans to list Ubuntu software maker Canonical in 2023.
British bank Barclays sells $687-million stake in Arrie Rautenbach-led Absa Group
Absa Group shares have fallen by more than four percent since the opening of the Johannesburg Stock Exchange this morning.
Kenyan banker Gideon Muriuki buys $100,000 shares in CIC Insurance
Muriuki now controls 137.8 million shares in the company.
Billionaire Yasseen Mansour’s Palm Hills Developments budgets $243 million for 2022
Palm Hills Developments has set aside $243 million for development work in 2022.