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.
Egyptian auto tycoon Raouf Ghabbour’s GB Auto spends $7.6 million of capital raise proceeds
Ghabbour founded GB Auto in 1985 as an Egyptian manufacturer of vehicles, buses, trucks, and motorcycles.
East African Court of Justice orders Rwanda to pay tobacco tycoon Tribert Rujugiro $1 million
The court ruled that Rwanda violated a regional treaty when it took over and sold Rujugiro’s shopping mall.
Somali tycoon Abdirashid Duale’s Dahabshiil says diaspora remittances to boost regional economy
Diaspora remittances are a lifeline for many people in the Horn of Africa
Kenyan businessman John Kimani acquires additional $1.7-million stake in Centum
Aside from his ownership interest in Centum, Kimani controls 32.3 percent of Kakuzi and 2.99 percent of Nation Media Group.
Kenyan mogul Manu Chandaria regains control of Kaluworks as banks write off $55-million debt
Kaluworks is a manufacturing firm and a subsidiary of Chandaria’s main company, Comcraft Group.
Nigerian tycoon Herbert Wigwe’s Access Holdings gets approval to acquire Lagos-based First Guarantee Pension
Wigwe holds a 4.26-percent stake in the pan-African group.
Nigerian banker Jim Ovia to pocket $3.6 million in interim dividends from Zenith Bank
The news puts his total dividend earnings from Zenith Bank this year at $17.7 million.