Egyptian billionaire Yasseen Mansour, Ahmed El-Sewedy donate $5.9 million to build Cairo monorail
Egypt’s first monorail, worth $4.5 billion, will be finished by 2023.
Moroccan businesswoman Lamia Tazi’s Sothema records over $108 million in revenue in H1 2022
Sothema produces more than 60 million units of pharmaceuticals every year.
Mauritian Espitalier-Noel family loses $9.1 million from stake in ENL in 96 days
The family remains one of the country’s wealthiest investors.
Nigerian banker Tony Elumelu commissions ultra-modern UBA Experience Center in Abuja
The center’s launch comes nearly one month after Elumelu opened a new UBA branch in Dubai.
African-American comedy mogul Kevin Hart to launch plant-based restaurant in LA next week
The restaurant chain will open in New York in a bid to uproot the fast-food industry.
South African billionaire Michiel Le Roux’s stake in Capitec Bank surges above $1.7 billion
The billionaire has recorded an impressive $149-million surge in the value of his stake in the past 16 days.
London-based Egyptian billionaire Mohamed Al Fayed loses $100 million in 110 days
Despite the drop in his net worth, Al Fayed still ranks as one of Africa’s wealthiest billionaires.
Egyptian auto tycoon Raouf Ghabbour’s GB Auto posts $37.6 million in profit in H1 2022
The wealthy Ghabbour family owns 62.9 percent of the leading automaker.
Nigerian billionaire Abdul Samad Rabiu unveils $23.8-million security support fund
It is the single largest donation to a philanthropic cause made by a Nigerian businessman.
Led by Egyptian Khamis family, Oriental Weavers set to withdraw investments from China
Oriental Weavers operates under the leadership of Egyptian businesswoman Yasmine Mohamed Farid Khamis.
Abu Dhabi-based Chimera acquires controlling stake in financial services provider linked to Egypt’s richest family
It is unclear how much of the 59.22 percent stake held by Orascom Financial Holding, a firm led by the billionaire Sawiris family, was acquired during the transaction.
Africa’s richest man Aliko Dangote loses $863 million in single day
Dangote’s net worth has dropped from nearly $20 billion to just $19 billion in the past 24 hours.
Nigerian president approves acquisition of ExxonMobil assets by oil tycoon Bryant Orjiako’s Seplat Energy
Seplat Energy is an independent oil and gas company.
South African tycoon Jens Montanana’s Datatec acquires UK-based firm after closing $252-million deal
Datatec is a South African ICT services provider.
Zimbabwean exec Andrew Chimphondah-led Shelter Afrique recovers $5.7 million in troubled projects
Chimphondah is known for his successful business turnarounds.
South African billionaire Nicky Oppenheimer loses $780 million in past 54 days
Oppenheimer remains one of Africa’s richest billionaires and South Africa’s second wealthiest person.