Nigerian Breweries reports FX losses surging to $98.1 million amid naira devaluation
Surge in FX losses driven by currency devaluation and economic challenges.
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Naivas, controlled by Mauritian tycoon Arnaud Lagesse-led IBL, posts $19 million profit
Naivas, Kenya’s biggest retailer now led by Mauritius-based IBL Group, posted a 43% profit jump to $19 million in 2025 despite economic headwinds.
Billionaire El-Sewedy family launches major industrial zone in Egypt
Egypt’s El-Sewedy family partners with Arabia Developments to launch a major industrial zone in New 6th of October City.
Johann Rupert, South Africa’s richest man, loses nearly $1 billion in two weeks
Johann Rupert’s net worth falls nearly $1 billion as Richemont shares drop after EU fines on Chloé and other luxury brands.
Kenyan banker James Mwangi-led Equity Group nine-month profit rises to $420 million
The solid performance reinforces the lender’s position among Africa’s most profitable financial services groups.