Omokolade Ajayi

1 week ago | billionaires.africa | Omokolade Ajayi

Key PointsMM Group partners with Tata Motors to distribute commercial vehicles in Egypt, expanding its automotive footprint in the country’s logistics sector. The lineup includes Tata’s Xenon, Ultra, Prima, and LP 613 bus models, tailored for Egypt’s transport and infrastructure demands. CEO Khaled Mahmoud drives MM Group’s growth, leveraging a vast retail network and brand partnerships to deepen market presence.

1 week ago | billionaires.africa | Omokolade Ajayi

Key PointsVista Equity Partners will acquire Acumatica from EQT, aiming to scale its AI-powered ERP platform for small and mid-sized businesses. With Vista’s backing, Acumatica plans to accelerate AI development, deepen partner ties, and expand its presence in the ERP market. The tech-focused Vista has completed over 600 deals worth over $320 billion, reinforcing its status under billionaire founder Robert F. Smith. Vista Equity Partners, the technology investment firm led by billionaire Robert F.

1 week ago | billionaires.africa | Omokolade Ajayi

Key PointsHisham Talaat Moustafa’s stake in TMG rose $145 million in 49 days, pushing his wealth above $1 billion amid a strong EGX share rally. TMG plans $4.7 billion expansion in Oman, leveraging record $3.2 billion sales this year to grow beyond Egypt’s real estate market. Despite recent gains, TMG shares remain down 1.8% year-to-date, reflecting cautious investor sentiment amid profit-taking and regional market shifts.

1 week ago | billionaires.africa | Omokolade Ajayi

Key PointsQCIL secured a $36 million Stanbic Bank loan to build a second WHO-compliant production plant in Luzira, Kampala, expanding regional pharmaceutical capacity. The new facility will boost annual tablet output from 1.4 billion to 2.4 billion and introduce TB treatments and injectable drugs to the local market. QCIL posted a record 2025 profit before tax of $16.9 million on $73.5 million revenue, driven by operational efficiency and a one-off Zambia recovery.

1 week ago | billionaires.africa | Omokolade Ajayi

Key PointsAnadkat’s stake in FMB Capital plunges by $274 million amid a nearly 30% drop in share price over less than three months. FMB remains Malawi’s top listed firm, with $1.62 billion in market cap and operations across five Southern African countries. FMB shares are still up over 80% in 2025, signaling long-term investor confidence despite recent market volatility.