NCBA, Kenyan lender linked to Kenya’s richest families, increases loan interest rate
NCBA Group is partially owned by some of Kenya’s wealthiest families, including the Kenyatta, Merali, and Ndegwa families.
Botswana tycoon Gulaam Abdoola’s Turnstar Holdings posts $8 million in profit in 2023
Abdoola, the managing director and a founding member of Turnstar Holdings, holds the largest individual stake in the company.
Moroccan royal family firm to acquire stake in Senegalese food company
Al Mada, the private investment firm of the Moroccan royal family, has set up a new firm called Teralys to acquire a majority stake in Senegal’s Patisen.
James Mwangi-led Equity Group initiates loan price increase, a first in Kenya
Under Mwangi, Equity Group has played a key role in the growth and transformation of Kenya’s financial services industry.
Sean ‘Diddy’ Combs pursues full enforcement of 2021 agreement in Diageo lawsuit
The agreement requires Diageo to treat Combs’ DeLeon tequila brand “at least as favorably” as its other tequila brands.
Controversial South African mogul Zunaid Moti loses case against amaBhungane Centre
The amaBhungane Centre for Investigative Journalism had earlier been barred from using documents acquired from a source in its reporting on controversial businessman Zunaid Moti, who claimed they were stolen.
Nigerian billionaire Benedict Peters to meet Zimbabwean state officials over platinum project delays
Peters’ visionary leadership has contributed to the growth and development of Africa’s petroleum sector, and his achievements have been widely recognized.
Nigerian tech tycoon Leo Stan Ekeh to invest $250 million in renewable energy across Africa
Ekeh emphasized that the investment aims to expand access to competitive and climate-friendly electricity supplies in Nigeria.
South African billionaire Laurie Dippenaar sees $45.6-million surge in FirstRand stake in 46 days
Dippenaar owns a 1.76-percent stake in FirstRand, which translates to 98,726,988 shares.
Egyptian billionaire Naguib Sawiris faces $140-million setback in net worth
The recent pullback in the wealth figures comes after Sawiris recorded a $1.01-billion bump in his fortune between Jan. 1 and June 19.
Startup led by Ethiopian entrepreneur Kidus Asfaw makes waves, raises $3.3 million in seed round
Asfaw, the CEO of Kubik, emphasized the transformative potential of the investment in fueling the company’s growth.
South African billionaire Christo Wiese’s Brait injects fresh capital into Virgin Active
Back in 2015, Brait, under the leadership of Wiese, acquired an 80-percent stake in Virgin Active for $862.8 million.
Qatari dairy company acquires 15-percent stake in Egyptian tycoon Safwan Thabet’s Juhayna
Qatari dairy producer Baladna now owns 15-percent of Juhayna Food Industries, which is controlled by Thabet.
South African tycoon Roux Shabangu constructs Shopping mall in KwaZulu-Natal
Shabangu, one of South Africa’s wealthiest men, is building the mall in partnership with Moolman Group, Twin City, and Green Giraffe.
Nassef Sawiris-linked firm reduces stake in Portuguese club in compliance with UEFA regulations
Egyptian billionaire Nassef Sawiris is considered one of Europe’s wealthiest football club owners.
South African tycoon Neal Froneman’s Sibanye-Stillwater shifts focus to lithium projects
Froneman announced the company’s shift in focus during his speech at the London Indaba conference earlier this week.