UBA posts $320.9-million profit in 9M 2024
This growth was bolstered by improved fee income and robust foreign exchange earnings, highlighting UBA's adaptability in volatile markets.
South Africa’s Jonathan Jawno makes $4 million from Transaction Capital stake
Although the recent surge boosted investor confidence, Transaction Capital shares remain down 57.28 percent year-to-date.
Jeff Bezos, Rockefeller Foundation team up for solar mini-grids in Nigeria
The effort targets Nigeria's crippling power shortages, aiming to bring electricity to over 86 million individuals – nearly half the country's population – who lack access to this basic necessity.
Raya Foods secures $40-million investment from Helios
This allows Helios to acquire a 49 percent stake in Raya Foods, significantly enhancing the company’s growth trajectory and operational capabilities.
Eterna launches Jet-A1 fuel operations at Lagos airport
This strategic initiative represents a substantial expansion in the company’s aviation fuel services portfolio.
Heineken’s attempt to block $13.1-million payment to Kenyan tycoon Ngugi Kiuna fails
The court emphasized that the case revolved around the legitimacy of the termination notice, not constitutional interpretation.
Karooooo’s half-year revenue rises seven percent to $124.2 million on subscription growth
Total revenue climbed 7 percent to R2.19 billion ($124.2 million) from R2.04 billion ($115.7 million) a year earlier.
Sibanye-Stillwaters halts Australian unit operations in the wake of bushfire
Fortunately, all personnel were accounted for and unharmed as operational teams worked to mitigate the fire's impact on the site and surrounding areas.
South Africa’s Ackerman family loses $20 million from Pick 'n Pay shares
This follows a previous loss of $36.22 million between July 16 and Aug. 20, when the family’s holding fell from $199.3 million to $163.07 million.
Vantage finalizes $71.7-million debt investment in Camusat to enhance telecom services
The partnership between Vantage Capital and Camusat Holding aims to drive connectivity and sustainability across Africa.
South African tycoon Adrian Gore makes $78.7 million from Discovery stake
Gore, one of South Africa’s most successful businessmen, owns 48,342,931 shares of Discovery.
Floyd Mayweather enters NYC real estate with $402 million affordable housing deal
Although Mayweather and Black Spruce have not issued public comments, the transaction is anticipated to be one of the largest multifamily housing deals in New York this year.
Oando targets 100,000 barrels of oil per day amid global expansion plans
Irune highlighted the company’s focus on deepening regional investments while working closely with local governments and host communities.
South African banker Alan Pullinger's stake in FirstRand exceeds $30 million
This marks a significant milestone for Pullinger, who holds a 0.13 percent stake, equivalent to 7,079,000 ordinary shares in FirstRand.
Lowe’s Chief Marvin Ellison sees stake rise above $210 million
Marvin Ellison, one of the few Black CEOs on the Fortune 500 list, owns 748,000 shares of Lowe’s.
Flour Mills plans $1-billion investment in Nigeria over four years
The announcement follows a move by its majority shareholder, Excelsior Shipping Company, to buy out minority shareholders and take the company private.