Omokolade Ajayi

Lagos

Wealth Analyst and Reporter at Billionaires.Africa

Get the information and do your due diligence. I chronicle Africa's success stories and track its richest people

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Articles

South African billionaire Michiel le Roux's Capitec Bank stake nears $2.5 billion

1 week ago | billionaires.africa | Omokolade Ajayi

Key PointsMichiel le Roux’s stake in Capitec Bank nears $2.5 billion, climbing by $247.25 million in 22 days, driven by a strong rally in the bank’s stock. Capitec Bank’s profit after tax jumped 30.1% to $742.5 million, boosting its market value close to $22 billion. Capitec shares have risen 11.06% since April 17, reinforcing Le Roux’s standing among Africa’s richest investors.
Ugandan tycoon Charles Mbire's stake in MTN Uganda nears $70 million

1 week ago | billionaires.africa | Omokolade Ajayi

Key PointsCharles Mbire’s 4-percent stake in MTN Uganda has gained nearly $4.9 million in just 51 days, recovering from earlier losses and approaching the $70 million mark. The telecom firm’s stock has risen 8 percent since March 18, pushing its market capitalization above $1.65 billion and generating strong returns for major investors. Despite the recent surge, MTN Uganda shares are down 1.82% year-to-date, reflecting the sector’s inherent volatility.
Black executive Marvin Ellison gains $9.2 million from Lowe’s shares

1 week ago | billionaires.africa | Omokolade Ajayi

Key PointsMarvin Ellison’s stake in Lowe’s surged by $9 million, as his shares climbed to $168.35 million due to a 5.78% rise in stock price. Despite a 3.13% revenue drop, Lowe’s generated $83.67 billion in FY 2024, with net earnings falling 10% to $6.96 billion amid economic pressures. Lowe’s shares are down 8.8% year-to-date, reflecting investor caution despite a recent stock rally lifting its market cap to over $125 billion.
Hassan Allam’s firm obtains $55 million Islamic loan for Cairo project

1 week ago | billionaires.africa | Omokolade Ajayi

Key PointsHassan Allam Holding raised EGP2.8 billion ($55 million) for Bab Masr, a mixed-use development near Cairo’s Upper Egypt railway station. The Bab Masr project spans 100,000 square meters, featuring commercial, residential, and medical spaces, with key transport connections in Cairo. Hassan Allam Holding expands across MENA, opening offices in Riyadh and growing operations in the UAE, Oman, Libya, and Algeria.
ORA Developers, led by Naguib Sawiris, begins Al-Wardi City project in Iraq

1 week ago | billionaires.africa | Omokolade Ajayi

Key PointsOra Developers, led by billionaire Naguib Sawiris, broke ground on Al-Wardi City, a 120,000-home eco-development near Baghdad. Al-Wardi City will feature smart technologies, parks, schools, hospitals, and modern amenities to ease Baghdad’s housing pressure. Ora Developers manages $45 billion in projects across seven countries, including new developments in Iraq and the UAE.
IHS stake of U.S.-Nigerian telecom executive Sam Darwish tops $60 million

1 week ago | billionaires.africa | Omokolade Ajayi

Key PointsSam Darwish's IHS Towers stake has surged $7.75 million, reaching $64 million, fueled by renewed investor confidence and a 13.76% rise in shares. Darwish’s 3.9% stake in IHS Towers, totaling 12.9 million shares, reinforces his key role in Africa’s telecom infrastructure sector. IHS Towers, now the world’s third-largest independent telecom tower operator, strengthened its financial position with a $1.6 billion bond issuance.
Ahmed Wadi’s Money Fellows raises $13 million to expand beyond Egypt

1 week ago | billionaires.africa | Omokolade Ajayi

Key PointsMoney Fellows raised $13 million in a pre-Series C round to expand its group savings platform beyond Egypt, bringing total funding to over $60 million. The startup, led by Ahmed Wadi, has scaled lending to billions of Egyptian pounds without relying on debt or balance sheet exposure. Money Fellows plans regional expansion to boost financial inclusion, targeting growth opportunities linked to the 2025 Africa Cup of Nations and 2030 FIFA World Cup.
Kenya gets $20 million from World’s richest investor after Trump's grant cuts

1 week ago | billionaires.africa | Omokolade Ajayi

Key PointsWarren Buffett’s foundation will donate Ksh3.8 billion ($20 million) to support Kenya’s public health sector amid a sharp drop in foreign aid. Kenya’s Treasury included Buffett’s $20 million grant in the 2025/26 budget, with funds directed to the State Department of Medical Services. Buffett’s donation comes as he announces plans to step down as Berkshire Hathaway CEO after six decades, recommending Greg Abel as his successor.
Moroccan real estate mogul Alami Lazraq's ADI stake hits $610 million

1 week ago | billionaires.africa | Omokolade Ajayi

Key PointsAlami Lazraq’s ADI stake rises to $610 million as shares jump nearly 8% in 25 days, signaling a strong recovery. ADI shares rise 7.85% in 25 days, pushing market cap past $1.1 billion; Lazraq’s stake gains $44.44 million. ADI's steady 2.91% YTD growth positions it as a top real estate investment in Morocco's recovering property market.
Mounir Nakhla’s MNT-Halan raises $49 million to boost lending in Egypt

1 week ago | billionaires.africa | Omokolade Ajayi

Key PointsMNT-Halan raises EGP 2.5 billion ($49.4 million) in corporate bonds to fuel growth in its expanding loan book across Egypt and beyond. Expanding into Pakistan, MNT-Halan aims to open 100 branches and extend digital lending services, focusing on financial inclusion for the unbanked. MNT-Halan leverages AI-driven technology and acquisitions like Tam Finans to strengthen its presence in emerging markets and enhance its loan portfolio.