Kenyan tycoon Peter Njonjo resigns from Twiga Foods board after extended leave
Njonjo has officially resigned from the board of the leading agritech firm, marking the end of an era.
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This Week In Review: A Snapshot of African Wealth Dynamics — El-Sewedy Family On Rise, Al-Amoudi Sees Wealth Gains in 2023 (Jan. 1 to 5)
The El-Sewedy family’s stunning $775-million gain and Mohammed Al-Amoudi’s remarkable $3.59-billion surge mark the dramatic wealth shifts in Africa last year.
Egyptian billionaire El-Sewedy family gains $775 million in 2023
In 2023, Elsewedy Electric shares on the Egyptian Exchange experienced a remarkable surge of 130.7 percent.
Botswana tycoon Farouk Ismail sees $3.4 million eroded from Choppies stake in 2023
Despite the plunge, Ismail continues to stand out as a top figure on the Botswana Stock Exchange.
South Africa’s richest man Johann Rupert rebounds strongly, gains $1.49 billion in 2023
The surge in Rupert’s fortune not only cements his position as one of Africa’s richest billionaires but also propels him to the top of South Africa’s wealth hierarchy.
This Week In Review: A Snapshot of African Wealth Dynamics — Peters Expands Global Footprint, Mauritius Sees Passing of Legend (Dec. 25 to 29)
From Peters’ ace move in Mozambique to Johann Rupert’s claim of the title of Africa’s richest man, it has been an interesting week in African wealth.
Johann Rupert reemerges as Africa’s richest man in latest Forbes ranking
While Forbes positions Rupert as the richest man in Africa, with a net worth of $10.2 billion, Bloomberg’s estimations paint a different picture.
Pierre Guy Noel, iconic leader and former CEO of biggest bank in Mauritius, dies at 67
Noel’s passing comes over two years after his retirement as the CEO of MCB Group.
Africa’s richest man Aliko Dangote faces $3.6-billion loss amid naira devaluation
This is attributed to the Central Bank of Nigeria’s decision to unify the country’s multiple exchange rates, introducing the FX-managed float system for rate unification.
Billionaire Benedict Peters secures stake in Mozambique’s largest onshore gas block
Aiteo, Africa’s leading oil independent, which is owned by Peters, is now operator of the prolific Mazenga gas block in Mozambique.
Congolese businessman Paul Obambi to invest $74 million in Douala Port project
Obambi’s Sapro Group operates across 11 countries on three continents in multiple sectors.
Firm led by Egyptian billionaire Yasseen Mansour closes $13.7-million securitized bond
Mansour, the chairman of Palm Hills Developments, owns a 7.29-percent stake in the leading real estate group.
Egyptian tycoon Hani Berzi’s group to inject $32.5 million for production capacity boost
The decision to allocate $32.5 million toward capacity expansion follows the group’s successful finalization of a finance agreement with the IFC.
Nigerian billionaire Arthur Eze receives two-year oil exploration license extension in Uganda
Prince Arthur Eze founded oil exploration and production company, Atlas Oranto, in 1991, and built it into one of Africa’s largest independents.
South Africa’s second-richest man Nicky Oppenheimer hits $1.7 billion in gains in 2023
His fortune has climbed from $8.03 billion to $9.75 billion since Jan. 1.
Nigeria’s richest woman Folorunso Alakija secures six oil blocks in Sierra Leone
Sierra Leonean President Julius Maada Bio disclosed that the move is pivotal to stimulating the country’s economy.