Greek multimillionaire businessman makes $13.3 million from Nigerian food group
The rise in the market value of Coumantaros’ stake in Flour Mills cements his position as a top investor on the Nigerian Exchange.
Led by South African executive Gary Nagle, Glencore sells Volcan stake for $20 million
Glencore’s exit from Volcan serves as a cautionary tale for investors in the mining sector.
Egyptian tycoon Hassan Allam’s group secures land access for $10-billion wind farm project
The landmark wind project, one of the world’s largest, will generate 47,790 gigawatt-hours (GWh) of clean energy annually.
Egyptian billionaire Samih Sawiris’ firm sees revenue soar to $89 million in Q1 2024
The double-digit growth in Q1 2024 is attributed to accelerated construction activity across its various destinations and improved performance across all its operating segments.
Nigerian billionaire Abdul Samad Rabiu’s BUA Cement to fund $78.9-million Lokoja-Benin road project
The financing will be facilitated through Nigeria’s tax credit scheme, designed to attract private sector participation in infrastructure development.
Kenyan tycoon Suresh Bhagwanji Shah loses $1.6 million from I&M stake
Renowned Kenyan businessman Suresh Bhagwanji Shah has encountered a significant downturn in the market value of his stake in I&M, mirroring a…
Moroccan real estate mogul Alami Lazraq gains $30.8 million from ADI stake
This uptick follows a prior decline, where Lazraq’s holdings in ADI decreased by MAD57.4 million ($57.4 million) between April 15 and May 5.
Tunisian tycoon Moncef Sellami loses $3.5 million from OneTech stake
Despite this setback, Sellami remains one of the wealthiest investors on the local stock exchange and maintains a prominent position among the wealthiest individuals in the country.
Egyptian billionaire Ghabbour family faces $13.1-million setback in recent weeks
The Ghabbour family maintains control of GB Corp, with family members holding executive positions on the group’s board.
Egyptian tycoon Hani Berzi loses $6 million from Edita stake
Despite the recent decline in the market value of his stake, Berzi remains a prominent investor on the Egyptian Stock Exchange.
Egypt’s multimillionaire Khamis family gains $14.8 million from Oriental Weaver stake
This recent surge further solidifies the Khamis family’s position as leading investors on the Egyptian Exchange.
Egyptian executive Pakinam Kafafi leads TAQA Arabia to $75 million revenue in Q1 2024
Driven by sustained energy demand, TAQA Arabia’s revenue climbed to $75.3 million in the first three months of 2024, up from $61.8 million in the same period last year.
Malawian businessman Hitesh Anadkat loses $12 million in FMB Capital share drop
Despite the recent setbacks, Anadkat remains one of the wealthiest investors on the Malawi Stock Exchange.
South African tycoon Neal Froneman-led Sibanye seeks debt covenant relief after profit plunges
Sibanye-Stillwater under Froneman faces a critical juncture, needing to navigate a series of impairments and potential covenant breaches to secure its financial future.
Nigerian energy tycoon Austin Avuru’s Seplat to boost gas production by 390 mmscfd
The announcement coincides with Seplat celebrating its rise from a vision shared by co-founders Ambrosie Bryant Chukwueloka Orjiako and Avuru to a prominent African energy player.
Tunisian tycoon Abdelwaheb Ben Ayed-linked Poulina group posts $40.6-million profit in 2023
As a leading business executive who played a pivotal role in Poulina Group, Ben Ayed owns a beneficial 3.4-percent stake in the Tunis-based conglomerate.