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Meet Nevine Sabbour: Trailblazing banker leading Egypt’s most valuable company
Nevine Sabbour became the first woman to chair Commercial International Bank (CIB) in September 2024, a historic first for Egypt’s banking sector.
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Court decision frees Benson Ndeta from jail in $34.7-million fraud case
Ndeta was detained in Nairobi’s Valley Arcade area before being questioned at the Directorate of Criminal Investigations (DCI) headquarters.
Anglo American to divest $527 million of Amplats as part of restructuring strategy
The mining giant led by Duncan Wanblad is offering 17.5 million shares—equivalent to a 6.6 percent stake in Johannesburg-listed Amplats—at $30.1 per share.
Zepz teams up with dLocal after $267 million raise to boost cross-border payments
The partnership aims to tackle financial access barriers in Africa, Asia, and Latin America, where millions are excluded from traditional banking systems.
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Richemont's rally lifts Johann Rupert's wealth to $13 billion
Johann Rupert stays South Africa’s richest as Richemont boosts his net worth to $13 billion.
Sue Nabi’s beauty giant stake loses $150 million as shares decline
Despite 2024 setbacks, the beauty sector offers long-term growth potential, with Nabi's leadership crucial for Coty’s recovery.
Capitec’s strong performance adds nearly $1 billion to Michiel Le Roux’s fortune
South African billionaire's net worth surges as bank shares hit record highs.
Alami Lazraq’s stake in Moroccan real estate firm gains over $300 million
Lazraq’s stake, amounting to 11,414,630 shares, has gained MAD3.09 billion ($308.31 million) in market value since the beginning of the year.
Meet Nevine Sabbour: Trailblazing banker leading Egypt’s most valuable company
Nevine Sabbour became the first woman to chair Commercial International Bank (CIB) in September 2024, a historic first for Egypt’s banking sector.
Abdallah Sallam’s Madinet Masr signs $11.6 million deal for development project
This partnership underscores the company’s strategic focus on expanding its presence in Egypt’s high-growth real estate market through key collaborations.
Naguib Sawiris unveils new digital news platform targeting emerging markets
Sawiris launches Moniify, a Dubai-based digital platform delivering emerging market business and finance news from a local perspective.
Hassan Allam and partners secure 1,200-megawatt solar deal to advance Egypt’s renewable energy sector
Landmark agreement highlights regional leadership in clean energy transition.
Shares held by El-Sewedy brothers in Egyptian electric giant near $1 billion each
The El-Sewedys, founders of the electrical equipment manufacturing powerhouse, collectively hold a 51.05 percent stake in Elsewedy Electric.
Naguib Sawiris adds nearly $600 million to fortune, maintains spot among Africa’s richest
The Egyptian billionaire’s wealth growth is attributed to the performance of his diversified investment portfolio.
Orascom Development gets $155 million loan to support green tourism in Egypt
The loan comprises two tranches—$96 million and $57.3 million—aimed at financing green upgrades and unlocking growth potential in El Gouna.
U.S.-Nigerian telecom mogul signs $230-million deal to sell Kuwait tower business to Zain
The transaction, which is expected to close in the first half of 2025 pending regulatory approvals, includes 1,675 telecom sites and 700 managed locations.
UBA expands, set to begin full operations in France
The deal positions UBA under the leadership of Tony Elumelu as a bridge between Africa and the broader global financial ecosystem.
IHS Holding's market woes slice $14.83 million from Sam Darwish’s stake
Despite setbacks in 2024, the telecom sector's long-term growth potential offers hope, with Darwish's leadership crucial for IHS Holding's recovery.
Aliko Dangote plans major investment in Angola
This marks the latest phase in Dangote Industries' ongoing expansion as it looks to capitalize on Angola’s growing economy.
Kessington Adebutu gains $2.1 million from Wema Bank shares
Adebutu's stake surged by $3.26 million between Sept. 18 and Nov. 11, rising from $13.93 million to $17.19 million.
Elon Musk’s Starlink halts orders in Nigeria until price hike is approved
Starlink halts new residential kit orders in Nigeria, citing regulatory hurdles over its proposed price adjustments.
Flour Mills gains shareholder approval for buyout deal
The move follows a resolution approved by the Federal High Court, clearing the path for the company’s long-discussed acquisition strategy, which was first unveiled on Sept. 24.
Family feud over $435-million dividend pits Nigerian oil magnate against his daughters
Indimi’s daughters have taken legal action against their father and his oil company, alleging they were unjustly denied their rightful share of a $435.1 million dividend.
NCBA Bank’s 3-percent profit growth in Q3 reaches $116.4 million
NCBA Bank reports a 3-percent profit growth for Q3 2024, reaching $116.4 million, driven by strong performance in Kenya and a focus on digital solutions.
Court decision frees Benson Ndeta from jail in $34.7-million fraud case
Ndeta was detained in Nairobi’s Valley Arcade area before being questioned at the Directorate of Criminal Investigations (DCI) headquarters.
Safaricom receives approval to launch new investment scheme
This move is part of a broader strategy to expand its financial services outfit and foster greater financial inclusion across the country.
Equity Insurance unit’s nine-month profit surges to $8.26 million, outpaces regional banking subsidiaries
Equity Life Assurance Kenya, a fast-growing subsidiary of Equity Group Holdings, posts a remarkable 181-percent profit increase, signaling robust performance in the insurance sector.
NCBA Bank acquires Unga Group’s $6.6-million loan portfolio from Absa Bank
The acquisition underscores NCBA’s commitment to strengthening its domestic operations while reinforcing its role as a leading financial institution in East Africa.
Aga Khan IV's stake in Nairobi-based insurer Jubilee sees $1.7-million rebound
His investment has grown by $1.7 million over the past 10 days, cementing his position as a key player in Kenya’s investment landscape.
Kenya’s Merali family sees $2.2-million loss as Sasini Tea shares decline on NSE
This latest decline has further impacted the Merali family’s stake, reducing its value to Ksh2.54 billion ($19.63 million) as of Nov. 22.
NCBA opens new branch in Kerugoya to boost local businesses
NCBA’s new Kerugoya branch brings tailored banking services to Kirinyaga County, supporting local businesses and economic growth.
Naspers, led by Koos Bekker, reports $3.4 billion in revenue for H1 2025
This highlights the group's strong financial performance and strategic execution under Bekker's leadership.
Anglo American secures $157.5 million Serpentina mine to bolster Brazilian presence
The deal, announced in February, solidifies Anglo’s strategic collaboration with Vale and positions both mining giants to enhance their production capacity.
Capricorn Group elevates Johan Maass to financial director to spearhead growth strategy
Capricorn Group announces Johan Maass as the new group financial director, elevating him to drive the company's strategic growth and financial health. With 14 years of experience, Maass is poised to lead Capricorn’s expansion efforts.
Vodacom’s $730-million deal faces appeal against block
Vodacom’s $730-million fiber network acquisition faces a critical appeal, with government and industry leaders backing the deal to accelerate digital infrastructure and create jobs in South Africa.
Invicta Holdings’ offshore expansion tackles market challenges despite $990,000 forex loss
Despite facing a $990,000 forex loss, Invicta Holdings reports steady revenue growth and continues its global expansion, with plans to generate half of its income outside South Africa by 2026.
Rupert group challenges SA Rugby's $71.5-million equity deal with Ackerley Sports
Johann Rupert and local investors challenge SA Rugby's $71.5-million equity deal with Ackerley Sports, proposing an alternative that could reshape the sport’s financial future.
Gus Attridge's Aspen stake down $39 million so far in 2024
This corresponds to an 18.12 percent drop in Aspen’s stock price on the Johannesburg Stock Exchange (JSE) since the start of the year.
Lighthouse completes $72.6-million sale of Planet Koper mall in Slovenia
The sale proceeds from Planet Koper Mall aim to fund acquisitions in the Iberian market, a key focus of growth with stronger economic resilience and tourism-driven retail demand.
Zepz teams up with dLocal after $267 million raise to boost cross-border payments
The partnership aims to tackle financial access barriers in Africa, Asia, and Latin America, where millions are excluded from traditional banking systems.
Mohammed Al-Amoudi’s wealth falls $1-billion amid asset revaluation, legal disputes
Ethiopia’s wealthiest man, Mohammed Al-Amoudi, lost over $1 billion in recent months, with his net worth dropping to $8.76 billion.
Safaricom reaches 52 million subscribers in Ethiopia
The telecom giant reported this milestone with its half-year results, marking rapid growth in one of Africa’s biggest telecom markets.
Safaricom reports mixed results for H1 2025, faces challenges in Ethiopia, Kenya
East Africa's telecom giant, Safaricom, sees revenue growth but faces profitability hurdles.
Safaricom expands M-PESA platform to Ethiopia, boosting regional financial inclusion
The move aims to strengthen regional financial inclusion and boost economic activity across borders.
Somali tycoon Ismail Ahmed’s Zepz raises $267 million to expand in Africa
The venture capital firm Accel, along with Leapfrog and TCV, led the latest funding round for Zepz.
Ethiopia’s richest man Mohammed Al-Amoudi’s fortune rises $190 million in 19 days
Al-Amoudi’s net worth has jumped from $9.12 billion on April 26 to $9.31 billion as of this report. This translates to an average daily gain of $10 million since April 26.
Ethiopia’s richest man Mohammed Al-Amoudi loses $260 million in two weeks
This follows a $320-million gain in Al-Amoudi’s net worth between March 28 and April 12.
Latest Posts
Naspers, led by Koos Bekker, reports $3.4 billion in revenue for H1 2025
This highlights the group's strong financial performance and strategic execution under Bekker's leadership.
Anglo American secures $157.5 million Serpentina mine to bolster Brazilian presence
The deal, announced in February, solidifies Anglo’s strategic collaboration with Vale and positions both mining giants to enhance their production capacity.
Alami Lazraq’s stake in Moroccan real estate firm gains over $300 million
Lazraq’s stake, amounting to 11,414,630 shares, has gained MAD3.09 billion ($308.31 million) in market value since the beginning of the year.
Meet Nevine Sabbour: Trailblazing banker leading Egypt’s most valuable company
Nevine Sabbour became the first woman to chair Commercial International Bank (CIB) in September 2024, a historic first for Egypt’s banking sector.
Abdallah Sallam’s Madinet Masr signs $11.6 million deal for development project
This partnership underscores the company’s strategic focus on expanding its presence in Egypt’s high-growth real estate market through key collaborations.
U.S.-Nigerian telecom mogul signs $230-million deal to sell Kuwait tower business to Zain
The transaction, which is expected to close in the first half of 2025 pending regulatory approvals, includes 1,675 telecom sites and 700 managed locations.
Airtel Nigeria names Dinesh Balsingh as new CEO
Airtel Nigeria appoints Dinesh Balsingh as its new CEO, bringing over 20 years of experience to lead the company’s next phase of growth and innovation.
Capricorn Group elevates Johan Maass to financial director to spearhead growth strategy
Capricorn Group announces Johan Maass as the new group financial director, elevating him to drive the company's strategic growth and financial health. With 14 years of experience, Maass is poised to lead Capricorn’s expansion efforts.
Access Bank seals deal for Standard Chartered units in Angola and Sierra Leone
Access Bank completes the acquisition of Standard Chartered's subsidiaries in Angola and Sierra Leone, strengthening its corporate and SME banking presence in Africa. The bank also eyes global expansion with a strategic stake in Mauritius' Afrasia Bank.
NCBA Bank’s 3-percent profit growth in Q3 reaches $116.4 million
NCBA Bank reports a 3-percent profit growth for Q3 2024, reaching $116.4 million, driven by strong performance in Kenya and a focus on digital solutions.
Vodacom’s $730-million deal faces appeal against block
Vodacom’s $730-million fiber network acquisition faces a critical appeal, with government and industry leaders backing the deal to accelerate digital infrastructure and create jobs in South Africa.
Invicta Holdings’ offshore expansion tackles market challenges despite $990,000 forex loss
Despite facing a $990,000 forex loss, Invicta Holdings reports steady revenue growth and continues its global expansion, with plans to generate half of its income outside South Africa by 2026.
Aig-Imoukhuede Foundation launches fourth cohort of public leaders program
The Aig-Imoukhuede Foundation’s latest cohort of the Public Leaders Program seeks to empower the next generation of African leaders, building on the success of alumni who are already transforming public sector services.
Rupert group challenges SA Rugby's $71.5-million equity deal with Ackerley Sports
Johann Rupert and local investors challenge SA Rugby's $71.5-million equity deal with Ackerley Sports, proposing an alternative that could reshape the sport’s financial future.
Devki Group faces legal challenge over $30.8-million tax dispute with Kenyan treasury
Devki Group’s $30.8-million tax dispute with the Kenyan government heads to court, challenging the revocation of tax exemptions and its impact on industrial growth.
Springfield E&P successfully completes Afina well appraisal, confirming high production potential
Springfield E&P’s successful Afina well appraisal confirms high production potential, paving the way for further commercial development in Ghana’s deep-water oil fields.
