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.
Mauritian businessman Pierre Guy Noel gains over $1 million in seven weeks
Noel owns 0.55 percent of Mauritius’ largest banking group, MCB Group Limited.
Nigerian billionaire Mike Adenuga loses $9.2 million in 110 days from stake in Conoil
Adenuga holds a majority 74.4-percent stake in the petroleum marketing firm.
Senegalese entrepreneur Fatoumata Ba-led Janngo Capital hits first close for $63-million fund
Ba is a Senegalese venture capitalist and tech entrepreneur.
South African billionaire Christo Wiese gains $34 million in seven days
Bekker owns 11.63 percent of Shoprite.
Ecobank names Kenyan banking exec Jeremy Awori as CEO
Awori is joining Ecobank after 25 years in the banking industry.
Egyptian businessman Raouf Ghabbour’s GB Auto considers selling stake in leasing business to Chimera
GB Lease was founded in 2008.
North African billion-dollar conglomerates shine in Forbes ranking of Arab family businesses
Arab family businesses have recently experienced a V-shaped recovery.
Tunisian tycoon Abdelwaheb Ben Ayed’s Poulina Group sets up solar energy subsidiary
Ayed owns a beneficial 3.4-percent stake in Poulina Group.
Swazi billionaire Natie Kirsh has now lost nearly half a billion dollars since start of 2022
Kirsh also owns 54 percent of Sydney-based Abacus Property Group.