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.
Johann Rupert’s Remgro, MSC reach agreement on Mediclinic acquisition terms
Rupert’s investment firm, Remgro, owns 44.6 percent of Mediclinic, South Africa’s largest hospital operator.
Nigerian billionaire Abdul Samad Rabiu’s BUA Foods reports more than $90 million in profit in H1 2022
Rabiu and his son own 99.8 percent of the newly established food business.
South Africa’s richest man Johann Rupert gains $1 billion in July as investors react to Richemont’s Q1 results
The majority of Rupert’s fortune stems from his stake in Richemont.
Mauritian Lagesse family-linked firm Alteo acquires further $8.2-million stake in Transmara Sugar
The Mauritian Lagesse family and the Dalais family both control a portion of Alteo Limited through related entities.
Nigerian telecom tycoon Bassim Haidar puts yacht ‘Bash’ on sale for $10 million
The Nigerian-Lebanese telecom tycoon is listing his 208-foot yacht, “Bash,” for sale.