35-year-old son of Egyptian billionaire Mohamed Al Fayed plans to launch UAE space business
He is set for an entry into the region through his Swiss-based firm, Earth Space Technical Ecosystem Enterprises.
Led by South African Ackerman family, Pick ‘n Pay posts $19 million in profit in H1 2023
The Ackerman family owns a 25.53-percent stake in Pick ‘n Pay.
Somali tycoon Abdirashid Duale says cost of living crisis has hurt remittances in Africa
Under the leadership of Duale, Dahabshiil has grown into the largest money transfer business in Africa.
Moroccan tycoon Lamia Tazi gains nearly $4.2 million in 155 days
Tazi is the chairperson and CEO of Sothema.
Led by Egypt’s richest family, Orascom adds $670 million in new projects in Q3 2022
Through OS Private Trust Company, the billionaire Sawiris family owns 51.8 percent of the Egypt-based contractor.
Egyptian businesswoman Hend El-Sherbini’s IDH to roll out three new scan centers in 2023
El-Sherbini explained that the ramp-up strategy will create added value for IDH.
Serena Williams’ VC firm backs Nigerian entrepreneur Preston Ideh’s Stears
Ideh said the funds will be used to broaden Stears’ product breadth.
Cement plant owned by Aliko Dangote’s Dangote Cement under ‘lock and key’ as state gov’t plans recovery
The Obajana Cement Factory opened in 2008.
Nigerian entrepreneur Tola Adesanmi’s proptech startup, Spleet, raises $2.6 million to drive expansion
Adesanmi and Dolapo Adebayo founded Spleet after returning to Nigeria from the UK in 2018.
Egypt’s richest man Nassef Sawiris loses $620 million in September amid stock market sell-off
Despite a multimillion-dollar drop in his net worth, Sawiris remains Egypt’s wealthiest man.
Africa’s richest man Aliko Dangote loses $400 million in September
His net worth plunged from $19.1 billion at the start of the month to $18.7 billion.
Egyptian entrepreneur Amir Aboul Fotouh’s Mazaya startup raises $5 million to drive expansion plans
Mazaya was founded in December 2021.
Egyptian tycoon Ahmed El Sewedy-led El Sewedy Electric to secure $102.5-million credit facilities from seven banks
The announcement follows the receipt of a $150-million loan from the International Finance Corporation.
Igho Sanomi of Taleveras Group receives philanthropy award in New York
Sanomi is a co-founder of the Dickens Sanomi Foundation.
Kenyan court freezes Ronald Karauri’s SportPesa license amid ownership tussle
The SportPesa brand was relaunched by Milestone Games.
Tanzanian billionaire Rostam Aziz acquires majority stake in Dar es Salaam-based aviation firm
Aziz’s arrival could increase competition in the industry.
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