Nigerian oil tycoon Adewale Tinubu’s Oando suffers $320 million in losses in 2020
Tinubu stated that 2020 was one of the most challenging years in the firm’s history.
10 charitable foundations founded by African billionaires you should know
They’re putting their money when their mouth is.
Tanzanian gold magnate Ketan Patel suffers $1.8-million loss as Shanta Gold shares retreat
Patel owns 44,274,017 ordinary shares, or 4.22 percent of the company.
Zimbabwean billionaire Strive Masiyiwa’s ADC expands footprint with massive data center facility in South Africa
The news comes a week after ADC announced the construction of a 30-megawatt data center facility in Accra, Ghana.
Founded by Ismael Belkhayat, Moroccan e-commerce startup Chari receives ‘Disrupter of the year’ trophy
Sophia Alj and Belkhayat co-founded Chari, a B2B e-commerce and fintech startup, in 2020.
Egyptian businessman Medhat Khalil’s Raya Holding unveils expansion plans for new unit
Raya Holding is an Egyptian investment conglomerate.
Controversial South African tycoon Hamilton Ndlovu banned from doing business with state
Ndlovu made a fortune through controversial PPE contracts.
LSE lauds Nigerian energy mogul Bryant Orjiako’s achievements at Seplat Energy
The LSE’s statement comes just a few weeks after Orjiako retired as chairman.
Bank of Uganda takes interest in $10-million loan dispute between Patrick Bitature, Vantage Capital
Bitature is the founder, chairman, and group CEO of Simba Group, an East African conglomerate.
Burkinabe mogul Idrissa Nassa’s Coris Bank launches $13-million Ivory Coast headquarters
Nassa s one of the richest men in Burkina Faso.
South African billionaire Patrick Soon-Shiong loses nearly $1 billion since start of 2022
Soon-Shiong holds $7.03 billion of his $8.99-billion fortune in cash.
Nigerian businessman Fola Adeola’s IWOSAN Investments acquires Lagoon Hospitals
Lagoon Hospitals will be rebranded as IWOSAN Lagoon Hospitals.
Kenyan tycoon Suresh Bhagwanji Shah’s I&M Group earns $23.2 million in profit in Q1 2022
Shah built I&M Group into East Africa’s leading commercial banking organization.
5 multimillionaires from Sudan you’ve never heard of
You might not know their names, but you should.
Billionaire Johann Rupert’s Richemont sees shares dive 14 percent on fears over China slowdown
Rupert’s net worth fell by $896 million as a result of the 14 percent drop in Richemont shares on Friday.