Orascom Construction, controlled by billionaire Nassef Sawiris, moves to acquire equipment distribution business
Orascom Construction is a leading global engineering and construction contractor.
Wealthy Mukuha family of Kenya in bitter feud over stake in Naivas supermarket chain
Founded by the late Kenyan businessman Peter Mukuha Kago, Naivas Supermarket is Kenya’s largest supermarket chain.
Moroccan tycoon Abdelali Berrada Sounni’s Dolidol acquires Nigeria’s Mouka Foam in $60-million deal
Dolidol is Morocco’s pioneer manufacturer of branded polyurethane foam and bedding products.
Egyptian businessman Safwan Thabet’s Juhayna Food Industries reports higher earnings as profits surge
Juhayna Food Industries is a leading company specializing in producing, processing and packaging dairy, juice and cooking products.
Led by Ivorian banker Tiemoko Yade Coulibaly, Societe Generale Cote d’Ivoire loses $42.6 million in three days
Societe Generale Cote d’Ivoire SA is an Ivory Coast-based bank offering financial products and services.
Egyptian billionaire Yasseen Mansour’s Palm Hills closes seventh securitization bond
The issuance was fully underwritten and co-arranged by several banks, including National Bank of Egypt.
South African businessman Sisa Ngebulana’s Rebosis declares no dividend for third consecutive year
Rebosis Property Fund is a Black-owned real estate investment trust in South Africa.
Led by wealthy Billon family of Ivory Coast, Palmci gains $37.1 million in two months
Palmci SA is an Ivory-Coast-based company cultivating, processing and marketing crude palm oil in West Africa.
Egyptian billionaire Mohamed Mansour partners with GM to study domestic EV production
His Al Mansour Automotive Co is the largest GM dealer in the world and the fifth-largest distributor of Caterpillar Inc.
Egypt’s richest man Nassef Sawiris loses $340 million in November as shares in Adidas slump
Since the year began, his net worth has declined by $44.2 million, or seven basis points.
Namibian tycoon Quinton van Rooyen gains $23.8 million in one week as Trustco shares rebound
Trustco is a diversified investment holding majority owned and operated by the Namibian van Rooyen family.
Zimbabwean tycoon Strive Masiyiwa’s Africa Data Centers launches massive facility in Lagos
Africa Data Centers operates as an affiliate of Cassava Technologies, a fiber and telecom solutions group founded by Zimbabwe’s richest man.
Kenyan tycoon Suresh Bhagwanji Shah’s I&M Group profit surges by 70 percent above $51 million in 9M 2021
I&M Holdings, or I&M Group, is the Kenya-based non-operating holding for I&M Bank Limited.
Mozambican tycoon Salimo Abdula’s kidnapped son rescued in South Africa
One of the alleged kidnappers has been arrested. The search is still underway to arrest the remaining kidnappers.
Mauritian businessman Pierre Guy Noel gains $2.3 million in 2021 as MCB Group shares surge
MCB Group is Mauritius’ most extensive banking institution.
Ade Adeyemi-led Ecobank Group gets $113.2-million loan from EIB to support SMEs in Africa
Ecobank is the leading independent regional banking group in West and Central Africa.