Egyptian billionaire El-Sewedy family’s inks $300-million deal for agricultural food complex
This latest venture with MAFI comes shortly after Elsewedy Electric announced plans to launch a multimillion-dollar industrial city project in Tanzania.
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South African billionaire Patrick Soon-Shiong’s net worth soars above $10 billion
Soon-Shiong’s financial resurgence throughout this year highlights his business skills and significant influence in healthcare and biotechnology.
Hitesh Anadkat, one of Malawi’s richest men, gains $9.7 million in 43 days
Anadkat holds an impressive 35.51-percent stake in FMB Capital Holdings.
Simone Biles shines as world’s greatest gymnast, banking $7.1 million in 2023
At the world championships in Belgium, Biles won gold in the all-around competition, making her the most decorated gymnast, male or female.
Tanzanian billionaire Rostam Aziz begins $1.9-billion LPG plant construction in Mombasa
The project, presently underway within the Dongo Kundu Special Economic Zone, signals a significant milestone for Taifa Gas as it expands its operations beyond Tanzania.
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.
Kenyan top executive James Ndegwa gains $2.1 million from NCBA stake in 48 days
Ndegwa, the former chairman of the Capital Markets Authority and son of the late Kenyan economist Philip Ndegwa, is a top figure in the Kenyan business scene.
7 companies linked to Namibian businessman Koos Brandt
With an $87.2-million stake in Capricorn Group, Brandt’s astute investments make him the richest investor on the Namibia Stock Exchange.
South African exec Iolanda Ruggiero earns $1.1-million salary from Nedbank in 2022
In 2022, Ruggiero received a notable compensation package of $1.1 million, reflecting a 13.31-percent increase from the previous year.
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.
Kanye West issues apology for anti-Semitic comments following $1.6-billion wipe-out
In October 2022, West faced backlash on social media as Instagram, owned by Meta Platforms Inc., and Twitter, now X, removed anti-Semitic posts from his accounts.
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.
Egypt’s second-richest man Naguib Sawiris rockets toward $6.5-billion net worth
The surge in Sawiris’ net worth has propelled him from $5.1 billion on Jan. 1 to $6.43 billion, adding $1.33 billion to his fortune since the start of the year.
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.
South African business executive Neal Froneman gains $3.4 million in 36 days
Sibanye-Stillwater has experienced a remarkable surge in recent months.
7 companies owned by Botswana businessman Jonathan Gibson
As a leader and advocate for responsible tourism, Gibson’s legacy extends beyond financial success, encompassing wildlife conservation and community empowerment.