South African exec. Fani Titi-led Investec expands advisory business into Switzerland
The move folds the Zurich-based team into Investec’s broader European advisory arm, expanding the firm’s footprint in a market where it has operated since 1978.
Nigerian banker Jim Ovia’s Zenith Bank sees $355 million profit in first half
Zenith Bank’s H1 profit falls to $355 million as impairments rise, while total assets reach $20.7 billion.
Bombardier hails Dangote refinery as jet fuel game-changer for aviation industry
Bombardier executives praised Aliko Dangote’s refinery in Nigeria as a world-class facility and a vital source of cleaner jet fuel for global aviation.
African politicians who were billionaires before getting into office
Many African leaders are accused of seeking office for riches. This group arrived wealthy—often tens of millions—long before taking the oath.
Anglo American, led by South Africa's Duncan Wanblad, to cut jobs in Australia’s Bowen Basin mines
The Isaac Regional Council, which covers the coal-rich Bowen Basin, said about 200 jobs will be affected.
Mellody Hobson’s Ariel Alternatives expands with industrial services acquisition
Mellody Hobson’s Ariel Alternatives expands into industrial services with its $1.45B Project Black fund, acquiring Groome Industrial Service Group.
Egyptian billionaire Mohamed Mansour points to AI as Africa’s development lever
Egyptian billionaire Mohamed Mansour sees artificial intelligence as a key lever for Africa’s growth.
Shoprite Nigeria shuts stores in major cities 4 years after Tayo Amusan’s Ketron takeover
Four years after Tayo Amusan’s Ketron takeover, Shoprite Nigeria is still struggling to steady its business in Africa’s most populous economy
Tanzanian billionaire Rostam Aziz’s $100 million gas plant in Kenya halted by court freeze
A Kenyan court has kept a freeze on Rostam Aziz’s Taifa Gas project, stalling the billionaire’s bid to transform East Africa’s LPG market.
Tanzanian tycoon Edhah Abdallah Munif hits roadblock in Kenya's Portland cement deal
Kenyan lawmakers stopped Tanzanian billionaire Edhah Abdallah Munif from buying Portland Cement shares at half price, citing undervaluation and foreign control concerns.
South African entrepreneur André Pienaar sued over $10 billion Amazon contract
André Pienaar sued in Washington over $10 billion Pentagon cloud contract involving Amazon and lobbying claims.
Egypt’s Ghabbour family loses $46 million as GB Corp stock slides
The Ghabbour family’s stake in GB Corp. has lost over $46 million in value after a sharp drop on the Egyptian Exchange.
Egypt’s billionaire El-Sewedy family to build $29 million cold-storage facility
The project aims to strengthen Egypt’s cold chain infrastructure, improve food quality, and cut waste, the companies said in a joint statement.
Prosus, led by South African billionaire Koos Bekker, puts $139 million into Indian firm before IPO
Prosus, chaired by Koos Bekker, raised its stake in India’s Urban Company to 7.35% with a $139 million investment ahead of its IPO.
Glencore, led by Gary Nagle, in talks to rescue South African smelters
Glencore, led by Gary Nagle, pursues talks with South Africa’s government to rescue smelters as power costs rise.
Egyptian businessman Naguib Sawiris nears $10 billion fortune
Naguib Sawiris nears a $10 billion fortune as gold and real estate investments fuel his rise.