Lowe’s reports decline in sales amid economic uncertainty
Total sales totaled $65.12 billion, marking a 3.92% decline, though strong online and pro sales offer optimism amid ongoing challenges.
Hani Berzi’s Edita Foods stake drops $11.6 million
Despite Edita's leading position in Egypt’s packaged snack market, its shares on the EGX have slipped into year-to-date losses.
Family feud over $435-million dividend pits Nigerian oil magnate against his daughters
Indimi’s daughters have taken legal action against their father and his oil company, alleging they were unjustly denied their rightful share of a $435.1 million dividend.
Hisham Talaat Moustafa seeks tourism reforms, targets 30 million annual visitors for Egypt
Moustafa outlined a vision to attract 30 million annual visitors to Egypt, leveraging the country’s rich cultural heritage and untapped potential.
FirstRand stock slide erases millions from Johan Burger’s portfolio
South African businessman Johan Burger sees $3.03 million dip in FirstRand stake
Simbisa Brands boosts Kenyan workforce with 402 new jobs
Fast-food operator opens 15 new outlets; shifts focus to chicken and pizza
Jim Ovia’s stake in Zenith Bank tops $130 million
Jim Ovia’s wealth soars, solidifying his position as Nigeria’s richest banker
MTN to boost internet connectivity in remote areas using satellite technology
The move is part of MTN’s broader strategy to enhance its existing network with satellite technology.
Sanlam completes $66.4 million acquisition of MultiChoice insurance unit
The move, positions Sanlam to leverage MultiChoice’s broad subscriber base and payment systems to expand its financial services offerings across Africa.
Palm Hills revenue tops $360 million in 9M 2024
Palm Hills Developments reports robust 9M 2024 performance, surpasses revenue expectations.
Dangote Cement to issue new bond series under $180.5 million program
The move aims to bolster the company’s financial strength and improve operational efficiency.
Nedbank commits $662 million to expand across Africa
South African financial giant, Nedbank, targets fourfold profit growth from African markets by 2029.
James Mwangi’s Equity Group stake nears $50 million
James Mwangi, Kenya's richest banker, solidifies his position with a 12.64% increase in Equity Group shares, boosting his net worth to nearly $50 million.
Amsons gains regulatory approval for Bamburi Cement deal
The COMESA Competition Commission confirms the deal will not harm regional competition or result in market dominance, supporting trade integration.
Alami Lazraq’s ADI stake now worth over $410 million
Over the past 11 days, Lazraq’s stake has gained MAD477.54 million ($47.72 million), boosting the market value of his stake to over $410 million.
Barloworld in talks to sell African Caterpillar business to Zahid Group-led consortium
The potential deal could reshape Africa's heavy equipment market.