Gerrit Ferreira’s Rand Merchant Investment moves to unbundle stakes in major insurers
The move is aimed at enabling it to narrow a discount between its share price and the book value.
Editorial Team
Nigerian cement tycoon Abdulsamad Rabiu signs power plant deal with Finland’s Wartsila Oyj Abp
Wartsila Oyj Abp is a Finnish company that manufactures and services power sources and other equipment.
Zimbabwean businessman Kudakwashe Tagwirei lavishes wealth on local football clubs
Tagwirei has donated millions of dollars to the Dynamos Harare and Highlanders football clubs.
Egyptian-British industrialist Assem Allam in talks with Turkish businessman Acun Ilicali to sell Hull City A.F.C
Allam is an Egypt-born tycoon based in East Riding of Yorkshire.
Dangote Industries denies it is in talks with traders to secure loan for mega-refinery
Anonymous sources claim that the company is potentially looking to raise $500 million from traders.
Patrice Motsepe’s phosphate maker to launch operations after activist appeal dismissed
The appeal was raised by the West Coast Environmental Protection Association.
Malawian tycoon Thomson Mpinganjira convicted in 2019 presidential election bribery case
The multimillionaire had pleaded not guilty to six bribery-related charges.
Moroccan billionaire Aziz Akhannouch’s party secures majority of seats in legislative elections
Meanwhile, the ruling Development Party secured only 12 seats.
Egyptian billionaire Nassef Sawiris earns $8.8 million as Orascom shares rebound
The $8.8-million gain was due to Orascom Construction’s share performance on the Egyptian Stock Exchange.
Tunisian director Khaled Fakhfakh earns $1.1 million as BIAT shares soar by 21 percent in 153 days
Shares in the bank have increased by double digits since the start of the year.
Linus Gitahi-led Diamond Trust Bank Group records 20.1-percent rise in H1 2021 revenue
The bank recorded growth in net profit in H1 2021 from $23.9 million last year to $28.7 million.
Namibian tycoon Wilhelm Shali to earn 15-percent stake in African Pioneer’s Namibia projects
Shali will personally own a 15-percent stake in the projects.
Joshua Oigara-led KCB Group acquires Rwanda bank, Banque Populaire du Rwanda
The move increases the group’s market share in the Rwandan retail and SME banking sector.
Gem Diamonds CEO Clifford Elphick looks to sell troubled Ghagoo mine in Botswana to ‘godfather’ of Irish whiskey
The acquisition will be made through its Okwa JV with Vast Resources (VAST).
Kenya-based businessman Rohan Patel earns $747,900 as Sanlam Kenya shares rebound
Sanlam Kenya is an insurance, investment and retirement group based in Nairobi.
Wealthy Tunisian Ben Yedder family earns $7.19 million as Ennakl Auto shares surge
Ennakl Automobiles is a Tunisia-based company majority-owned by the affluent Yedder family.