Nassef Sawiris’ stake in OCI N.V. is now valued at more than $3 billion
Meanwhile, his stake in German sportswear behemoth Adidas is valued at $2.59 billion.
South African billionaire Patrice Motsepe donates $2 million to flood victims
Motsepe, a billionaire businessman, offered his assistance after witnessing the devastation caused by recent floods.
Egyptian investor Tarek Assaad’s VC firm, Algebra Ventures, secures $15 million in funding from World Bank
Assaad is also the managing partner of Ideavelopers, where he has managed $50 million in investments since 2009.
Egyptian businessman Hassan Allam’s construction firm to develop solar power plant in Egypt
With over 80 years of experience, Hassan Allam Holding is one of the largest privately held corporations in Egypt.
Mr. Price to acquire Laurence Wernars’ Studio 88 Group for $225 million
Studio 88 group is the biggest independent retailer of branded leisure, lifestyle, and sporting apparel and footwear in South Africa.
South African executive Gerrie Fourie receives salary of $6.3 million from Capitec Bank in 2022
Fourie, the current CEO of Capitec Bank, has received millions of dollars in compensation from the bank since joining the leading financial services provider in 2014.
Nigerian billionaire Abdul Samad Rabiu to pocket $208 million in dividends
BUA Cement operates with a combined installed capacity of 8 million tonnes per annum.
Zimbabwean restaurant mogul Zed Koudounaris eyes Kenyan expansion for Simbisa brands
His 18.41-percent stake in the company is worth $60.4 million.
Angolan tycoon Carlos Manuel de Sao Vicente sentenced to nine years over graft
He has been sentenced to nine years in jail by a local court for embezzlement.
Qatari-backed fund acquires luxury Cape Town hotel from John Moxon’s Meikles
Meikles Limited, a conglomerate controlled by Moxon, has sold off The Cape Grace at the V&A Waterfront.
Richemont, controlled by billionaire Johann Rupert, sells off 20-percent stake in Greubel Forsey
Greubel Forsey, which was founded in 2004, manufactures very complicated timepieces.
Mauritian businessman Hector Espitalier-Noel’s ENL suffers $23.98 million in losses in 2021
The multimillion-dollar losses posted by the Mauritian conglomerate brings its total operating losses since June 2019 to $47.6 million.
Egyptian investor Hisham Talaat Moustafa loses $12.4 million as Egyptian pound slumps
Moustafa failed to realize dollarized profits from his position.
Angolan businessman Alvaro Sobrinho has 10 days to pay deposit of $6.64 million
Aside from the $6.64-million bond, Sobrinho was subjected to a number of coercive measures.
Kenyan businessman Joshua Oigara’s KCB Group plans strategic acquisition in DRC
The proposed deal comes after the Oigara-led group expressed interest in negotiating another acquisition in Tanzania.
Kenya’s Kirubi family loses $2.6 million in 53 days
Kirubi died last year at the age of 80 following a four-year battle with illness.