Ethiopia-born billionaire Mohammed Al-Amoudi loses $1.42 billion in 67 days
The founder of Sweden’s largest oil refiner has seen his net worth fall from $8.76 billion to $7.31 billion.
East Africa
Kenyan businessman Baloobhai Patel earns $424,600 from stake in Absa Bank Kenya in 84 days
Absa Bank Kenya is a leading bank in Kenya and an operating subsidiary of Absa Group Limited.
Kamal Budhabhatti moves to launch ride-hailing service Little Limited in Ethiopia
Budhabhatti founded Little in collaboration with the telecom giant Safaricom in 2016.
Ken Njoroge’s Cellulant Corporation receives nod to operate in Tanzania
The company will offer the market seamless payments solutions with its globally acclaimed product, Tingg.
Multimillionaire Mauritian Lagasse family gains $12.61 million from joint stake in IBL Limited
IBL is a world-class diversified conglomerate based in Mauritius.
James Mwangi’s Equity Group Foundation awards 10,705 Wings To Fly scholarships across Kenya
The successful recipients were selected from a host of 114,000 applicants.
Tycoon Egide Gatera acquires six-percent stake in Rwanda’s second-largest bank, I&M Rwanda
Gatera is a renowned investor with experience in the local and regional business ecosystem.
Kenyan businessmen Joe Wanjui and James Muguiyi sell UAP shares worth a total of $29.6 million
The transaction raised Old Mutual Holdings’ stake in UAP from 60.7 to 66.7 percent.
Malawian banking tycoon Hitesh Anadkat earns $764,000 from stake in Letshego Holdings
The $764,000-gain can be linked to a rise in the market value of Anadkat’s stake in Letshego Holdings.
Mauritian tycoon and investor Arnaud Dalais earns $2.14 million in 14 days from his stake in CIEL Limited
The rise in the market value of his shares occurred on the back of sustained bullish sentiment in the company.
Kenyan banking tycoon Suresh Bhagwanji Shah loses $4 million as I&M Holdings shares dip
The decline occurred as investors sold down the bank’s shares, leading to a double-digit dip in the share price.
Emirati businessman Saleh Al Hashemi looks to help African startups link up with global opportunities
Investera hopes to guide foreign investors seeking to invest locally and link indigenous firms with global opportunities.
Mauritian mogul Hector Espitalier-Noel to earn $1.24 million in dividends from stake in ENL Limited
ENL Limited is a holding company of ENL Group, a broad-based enterprise managing over 120 brands.
Stake of banking tycoon James Ndegwa in NCBA Group gains $626,418 in 10 days
The gains occurred on the back of a rise in the company’s share price.
Late Kenyan tycoon Chris Kirubi’s son-in-law appointed to Centum Real Estate board
Andrew Musangi is an experienced lawyer and husband to Mary-Ann Musang, Kirubi’s oldest daughter.
Ugandan mogul Sudhir Ruparelia to redesign former military intel headquarters into business park
The Pearl Business Park is an 18-acre mixed-use facility that will host a five-star hotel, mall and modern hospital.