Egyptian mogul Safwan Thabet loses $23.6 million in 57 days from stake in Juhayna
Thabet owns a majority 50.07-percent stake in Juhayna Food Industries through Pharon Investments.
Latest News
U.S. billionaires team up with Africa’s richest man to back $500-million Africa-focused fund
American billionaires David Rubenstein and Bill Conway are not the only heavyweights participating in this venture.
Kenyan billionaire Peter Njonjo’s agri-tech firm battles liquidation attempt
Twiga Foods, founded in 2013 by Njonjo and Grant Brooke, has been at the forefront of transforming Kenya’s agricultural sector.
America’s second-richest Black man David Steward faces $380-million loss
Despite this setback, David Steward maintains his position as America’s second-richest Black man, trailing behind Robert F. Smith, the founder of Vista Equity Partners.
7 companies owned by Kenya’s second-largest landowner, Moi family
Unofficial estimates suggest the Moi family’s wealth surpasses $3 billion, attesting to their substantial financial resources.
Egyptian businessman Hani Berzi’s Edita secures $45-million loan from IFC
Under Berzi’s leadership, Edita Food Industries experienced a remarkable upswing of 92.8 percent in profits.
Beyonce’s ‘Renaissance’ world tour generates $579 million in revenue
The 56-stop tour, which commenced in May, showcased Beyonce’s unwavering dominance in the world of entertainment.
Investment firm led by America’s richest Black man acquires software maker TRG Screen
Vista Equity Partners, which is led by America’s richest Black man Robert F. Smith, has acquired a majority stake in TRG Screen.
Meet Malian tycoon Samba Bathily, who runs a $240-million conglomerate
Malian entrepreneur Samba Bathily is the founder of ADS Group, a conglomerate that records more than $240 million in annual revenues.
Real estate firm led by Egyptian billionaire Yasseen Mansour unveils $2.75-billion venture
Mansour, the group’s chairman, maintains a 7.29-percent ownership interest in Palm Hills Developments.
South African tycoon Jannie Mouton gains $27 million from Capitec’s stake in six days
Mouton owns a 5.11-percent stake in Capitec Bank, equivalent to 6,034,518 shares, through his Jf Mouton Familietrust.
will.i.am leads $15-million investment in California flying car company, Jetson
will.i.am is no stranger to the world of innovative transportation, having previously designed and manufactured custom cars with futuristic features.
Egypt’s newest billionaires, El-Sewedy family sees billion-dollar fortune take a hit
The market value of the El-Sewedy family’s stake in Elsewedy Electric has slumped by $76 million in the past eight days.
Kenyan multimillionaire tech entrepreneur Njeri Rionge dies at 54
Rionge was one of Kenya’s most successful female entrepreneurs and a co-founder of Wananchi Group, one of Kenya’s largest companies.
Norwegian company acquires stake in Nigerian billionaire Tunde Folawiyo’s oil field
Folawiyo controls Yinka Folawiyo Petroleum, the operator of OML 113 which contains the Aje field.
Kenyan tycoon Peter Njonjo’s Twiga thwarts liquidation attempt over debt dispute
Twiga Foods is a Nairobi-based agri-tech startup co-founded by Njonjo.