Construction giant led by North Africa's richest family joins efforts to expand wind farm in Egypt
Orascom Construction, a global engineering leader, expands its renewable energy portfolio in Egypt.
Kenyan executive James Ndegwa gains $2.4 million from NCBA stake in 11 days
Ndegwa, the former chairman of Kenya’s Capital Markets Authority, owns 4.57 percent of the Nairobi-based financial services conglomerate.
Elon Musk’s Starlink introduces portable kit in Kenya amid expansion push in Africa
Dubbed the ‘Starlink Mini,’ the kit, priced at Ksh27,000 ($210), is significantly cheaper than the existing Ksh45,500 ($354) standard package.
South African executive John Copelyn-led Southern Sun plans $58.3-million revitalization investment
The redevelopment initiative includes extensive renovations not only for the Elangeni and Maharani hotels but also for other Southern Sun-managed properties nearby.
NCBA, backed by Kenya’s richest families, to provide digital skills training for 3,000 employees
This initiative marks a significant step in the bank’s commitment to enhancing its workforce’s expertise in emerging technologies.
Egypt’s richest man Nassef Sawiris's net worth grows by $1.15 billion
His wealth increase puts him among the select African billionaires whose wealth has swelled by over a billion dollars this year.
South African tycoon Giovanni Ravazzotti’s Italtile stake nears $330 million
Ravazzotti’s stake in Italtile nears $330 million thanks to a $21.9-million gain in 14 days.
Electric firm owned by Egyptian billionaire El-Sewedy family lands $1 billion deal with Saudi Electric
Elsewedy Electric has secured a $1-billion partnership with Saudi Electricity Company to enhance energy infrastructure in the Middle East.
Egyptian steel magnate Ahmed Ezz’s stake in Ezz Steel rises by over $100 million
In just two weeks, the Egyptian steel magnate has seen his stake in the steel giant appreciate by more than $100 million amid soaring investor confidence.
Kenyan tycoon Peter Ndegwa-led Safaricom secures second $116-million sustainability-linked loan
This follows a similar loan obtained last year, bringing the total to Ksh30 billion ($232.2 million).
Nigerian billionaire Femi Otedola’s stake in FBN Holdings tops $84 million after latest purchase
Otedola’s recent acquisition solidifies his position as the largest shareholder in the parent company of First Bank of Nigeria, raising the market value of his stake to $84.2 million.
Hassanein Hiridjee’s AXIAN Group completes stake acquisition in Ivorian insurance startup
The acquisition, finalized in mid-July 2024, positions AXIAN as WiASSUR’s second-largest shareholder and grants the conglomerate a governance role.
Prosus, linked to South African billionaire Koos Bekker, offloads $743 million worth of Trip.com shares
Prosus N.V. has grown into a leading global consumer Internet group. The transaction gives Prosus liquidity to focus on higher-growth areas in its portfolio.
Nigerian billionaire Femi Otedola’s wealth grows by $400 million despite naira devaluation
Otedola’s net worth has surged by $400 million since the start of 2024, increasing from $1.1 billion to $1.5 billion, according to Forbes.
Nigerian billionaire Abdul Samad Rabiu’s BUA Foods expands pasta production with strategic FAVA deal
The agreement will see BUA Foods more than double its current output from 400,000 tonnes to 900,000 tonnes per year.
Diddy’s legal battles prompt asset sales as he remains in custody
Combs was arrested last week and remains in custody after twice being denied bail.