Orascom founder, billionaire patriarch of Egypt’s Sawiris family dies at 91
Onsi Sawiris passed away on June 29 at the age of 91.
African billionaire
Greek-Nigerian mogul John Coumantaros to pocket $10.43 million in dividends from Flour Mills of Nigeria
The company is Nigeria’s market leader in flour marketing and production.
Samih Sawiris’ Orascom seeks to build rail line linking Egypt and Sudanese capital of Khartoum
The Egyptian Transport Ministry has unveiled a plan to introduce a rail line linking Alexandria and Khartoum.
BUA Group Chairman Abdul Samad Rabiu made first president of France-Nigeria Business Council
French President Emmanuel Macron inaugurated the council on the sidelines of the Choose France Summit in Versailles.
Malawian tycoon Hitesh Anadkat’s stake in FMB Capital Holdings gains $27.12 million in 89 days
The increase can be linked to gains in the group’s shares on the Malawi Stock Exchange.
Stake of Moroccan venture capitalist and politician Adil Douiri in Mutandis drops by $1.76 million in 15 days
The loss can be attributed to a decline in the Mutandis share price.
Billionaire industrialist Abdul Samad Rabiu sells shares in BUA Cement worth $4.69 million in May
Rabiu sold 27,130,000 shares held indirectly through BUA International between May 10 and 17.
James Ndegwa’s NCBA partners with Simba Corporation to finance vehicle purchases in Kenya
The leading financial services company now requires clients to put only five percent of the total vehicle cost down.
Tanzanian gold magnate Ketan Patel loses $897,456 in 27 days from stake in Shanta Gold
Shares in the gold producer surged by 45 percent from April 1 to June 1.
Controversial South African mining mogul Mandla Lamba embarks on expansion with Agilitee Africa
Agilitee Africa has recently expanded into Zimbabwe and Eswatini.
Ghanaian investor Patrick Kingsley-Nyinah to pocket $132,299 in dividends from Ghana Oil
GOIL is a leading player in Ghana’s oil and gas sector.
Stake of banking executive Gideon Muriuki in Kenya’s Co-operative Bank gains $981,331 in 27 days
Co-operative Bank of Kenya operates across East Africa.
Abdul Samad Rabiu’s ASRi awards Ghana with $3-million educational infrastructure grant
Ghana will receive the grant from ASRi’s annual $100-million Africa Fund for Social Development and Renewal.
Nigerian businessman Umaru Abdul Mutallab to pocket $291,908 in dividends from stake in Jaiz Bank
Jaiz Bank is Nigeria’s first non-interest bank operating under Islamic banking principles.
Discovery losses $708.87 million after founders Adrian Gore and Barry Swartzberg sell off shares
Earlier, the founders sold off close to $4.86 million of their shares in the diversified multinational financial service group.
CEO Peter Ndegwa to deploy Kenyan staff to help boost Safaricom’s Ethiopia operations
The Ethiopian unit will have its own CEO, senior executives and management team.