Adani Energy signs $741-million power deal with Kenya amid controversy
This partnership is aimed at bolstering Kenya's power infrastructure and underscores Adani's expanding presence in Africa.
Egyptian brothers, Ahmed and Sadek El-Sewedy, emerge as Egypt’s newest billionaires
The rise in the El-Sewedy brothers' fortunes is attributed to an 80.6-percent increase in Elsewedy Electric's share price.
South Africa’s Sibanye ordered to pay damages over failed $1.2-billion Brazil mines deal
The court's decision comes on the heels of Sibanye’s failed acquisition of Brazilian nickel and copper mines, specifically the Santa Rita and Serrote assets.
Sanlam completes Assupol deal, boosts lead as Africa's largest insurer
Sanlam's acquisition of Assupol bolsters its footprint in South Africa and Africa, cementing its position as a dominant insurance player.
Geregu Power’s profit more than doubles to $15 million in 9M 2024
Total assets rose 21 percent to N221.09 billion ($136.4 million), reflecting strong growth and strategic investments under billionaire Femi Otedola's leadership.
Egyptian multimillionaire Ghabbour family’s stake in GB Corp rebounds above $200 million
This follows an $18.27-million loss between July 18 and Aug. 15, when the market value of their holdings declined from $207.2 million to $188.93 million.
Absa partners with IFC to launch $50-million trade facility for African farmers
This follows a recent collaboration between Absa and IFC, which resulted in a $60 million trade finance facility for Volcafe, a leading global green coffee merchant.
Raya Holdings completes $24.7-million deal to boost growth
This move is seen as a critical step to accelerate Raya's growth trajectory and enhance its operational capabilities.
Bank of Africa posts $277.8-million profit in H1 2024
Bank of Africa led by Moroccan billionaire Othman Benjelloun sees 31.4-percent surge in profit for H1 2024 despite tough economic conditions.
Ghana’s Daniel Ofori sees $2-million gain in GCB Bank shares amid rally
This follows a $1.19-million gain recorded between Jan. 1 and May 6, when the value of his stake rose from $4.91 million to $6.1 million.
Orascom Construction partners with Modon for Egypt’s Ras El Hekma mega project
Orascom Construction, a global engineering leader, expands its footprint with the Ras El Hekma mega project.
Mondi to acquire Schumacher packaging assets in $682-million deal, expanding European presence
The addition of Schumacher’s assets will increase Mondi’s capacity to produce fiber-based products, offering more sustainable alternatives to plastic packaging.
Royal Bank of Canada increases stake in South African retailer Clicks
Royal Bank of Canada increases stake in Bertina Engelbrecht-led Clicks Group, solidifying position as major shareholder.
Lagos-based Greek tycoon John Coumantaros’ stake in Flour Mills nears $100 million
The rise builds on earlier gains of $11.12 million between June 7 and Aug. 13, when his stake in Flour Mills rose from $62.13 million to $73.24 million.
Adenia partners enters Egypt, strengthening African presence
This marks the firm’s eight location across the continent and underscores its commitment to responsible investing and sustainable development in Africa.
Nigerian billionaire Femi Otedola's wealth rises $200 million in 12 days despite naira's ongoing decline
This brings his fortune to $1.6 billion, cementing his position as one of Africa’s richest and most influential businessmen.