Britam, owned by Kenya's richest investors, eyes investors with fixed-income dollar fund
This strategic move aims to tap into the growing interest in dollar-denominated instruments.
Greek tycoon John Coumantaros' Flour Mills of Nigeria plans to raise $120 million in capital
This move aims to strengthen the company’s financial base as it continues its aggressive growth trajectory, buoyed by recent stock gains and strong financial performance.
TymeBank, backed by Africa’s first Black billionaire Patrice Motsepe, hits 10-million-customer milestone
The bank, backed by Motsepe, has rapidly expanded since its launch in 2019, transforming the financial landscape in South Africa and beyond.
Nigerian pharma tycoon Fidelis Ayebae's Fidson receives support to expand production capacity
The collaboration with NEXIM is expected to position Fidson for a stronger presence in Africa's rapidly expanding pharmaceutical market.
Mauritian tycoon Arnaud Lagesse guides IBL to record $2.2-billion revenue in H1 2024
IBL Group sees record-breaking revenue of $2.2 billion under Mauritian businessman Arnaud Lagesse's leadership.
Kenya’s richest banker James Mwangi gains $5.3 million from stake in Equity Group
Mwangi, who holds a 3.38 percent stake, equivalent to 127,809,180 ordinary shares, has seen his investment rebound by Ksh683.78 million ($5.3 million) over the past seven weeks.
South African tycoon Stephen Brookes gains $2.3 million from Balwin stake in 10 days
Real estate mogul Stephen Brookes, the founder and the largest shareholder of Balwin Properties, owns 36.08 percent of the Johannesburg-based property developer.
Seplat, co-founded by Austin Avuru, nears completion of $1.3-billion ExxonMobil deal
The $1.3-billion transaction initiated in 2022 had faced delays due to Nigeria’s stringent legal landscape and approval bottlenecks.
Access Bank, linked to Aigboje Aig-Imoukhuede, partners with stakeholders on renewable energy
This move aims to strengthen the Nigerian economy while aligning with global sustainability goals.
Nigerian tycoon Tony Elumelu's UBA posts $189.6-million profit in H1 2024
The double-digit decline in profits can be attributed to UBA’s higher expenses, coupled with a drop in trading and foreign exchange gains.
Luxury apartments worth $7.7 million handed over by firm linked to Kenyan billionaire heiress Mary-Ann Musangi
The luxury units are priced between Ksh36 million ($280,000) and Ksh52 million ($404,000), reflecting a significant increase in value.
Gabonese oil mogul Samuel Dossou-Aworet sees stake in Seplat Energy exceed $200 million
Dossou-Aworet, through his wholly-owned Petrolin Group, holds a 13.87-percent stake in Seplat, representing 81,015,319 ordinary shares.
Zimbabwean tycoon Zed Koudounaris’ Innscor posts $48.2-million profit in 2024
Innscor Africa reports robust 2024 financial performance driven by robust performances across its primary business lines.
Fidson, owned by Fidelis Ayebae, plans $100-million medicine production plant in Lekki FTZ
This move aligns with the company’s efforts to bolster Nigeria’s self-sufficiency in healthcare, focusing on combating the country's ongoing HIV crisis.
Egyptian billionaire Hisham Talaat Moustafa’s TMG stake rebounds above $1.3 billion
This recovery follows a brief decline of EGP6.03 billion ($124.2 million) between July 9 and Aug. 1
Kenyan executive Peter Ndegwa-led Safaricom resumes talks with Starlink as competition heats up
This comes as Safaricom confronts an increasingly competitive environment in its home market, where it has historically maintained a stronghold.