Egypt’s El-Sewedy family gains $88.91 million as consolidated profit in Q1 2024
Since its founding, the company has grown into a regional and international provider of energy, digital, and infrastructure solutions.
Naguib Sawiris-led Orascom Financial Holding swings to consolidated loss in Q1 2024
Orascom Financial Holding has reported a consolidated net loss of EGP 22.81 million ($479,062.20) for Q1 2024.
Burkinabe tycoon Mahamadou Bonkoungou expands commercial airline fleet to four aircrafts
This new acquisition represents a major milestone for the company. From the outset of its operations one year ago, LIZ Aviation had announced its expansion fleet to four aircraft.
Zimbabwean social entrepreneur Tsitsi Masiyiwa recognized by Bryant University
Masiyiwa received an honorary doctorate from Bryant University, the same institution where her daughter Vimbai graduated in 2017.
Pan-African billionaire Benedict Peters’ Bravura to begin Zimbabwe lithium production in 2025
Bravura, owned by pan-African billionaire Benedict Peters, has announced plans to start production at a Zimbabwean lithium project early next year.
Nigerian billionaire Femi Otedola clashes with Zenith Bank over ‘fraudulent transactions’
The confrontation between billionaire businessman Femi Otedola and Jim Ovia, chairman of Zenith Bank, over an alleged multibillion-naira fraud has escalated further.
Fidson healthcare to raise $12.9 million as Nigerian tycoon Fidelis Ayebae seeks shareholder approval
Fidson Healthcare Plc, a leading Nigerian pharmaceutical manufacturing company led by Fidelis Ayebae, will seek shareholders’ approval to raise additional capital of up to N20 billion at its forthcoming 25th Annual General Meeting.
Kenyan businessman Julius Mwale inks deal with Zambia
Mwale, the visionary founder of Mwale Medical and Technology City (MMTC), has inked a deal for smart cities, mining, infrastructure and agriculture.
Vodacom, led by South African exec Shameel Joosub, deploys world first mobile radio equipment in Egypt
Vodacom Group led by leading South African executive Shameel Joosub has announced the successful deployment of a world-first triple-band mobile radio unit.
South African billionaire Saltzman family Dis-Chem expands into insurance market with OneSpark acquisition
The Saltzman family, renowned South African billionaires and founders of Dis-Chem Pharmacies, has enhanced its integrated healthcare program through a binding Share Subscription Agreement (SSA) with OneSpark Proprietary Limited and OneSpark Holdings Inc., a Delaware-incorporated corporation.
Egyptian tycoon Safwan Thabet’s profit moves to $10.12 million in Q1 2024
Juhayna Food Industries, a household name in Egyptian dairy, juice, and cooking products, has recently surpassed investor expectations with an extraordinary surge in profits.
Morocco’s Royal family backs startup in $7-million pre-Series-A round
YoLa Fresh, a Moroccan agritech startup owned by Youssef Mamou and Larbi Alaoui Belrhiti, secured a $7-million pre-Series-A funding round.
Nigerian business tycoon Abdul Samad Rabiu begins construction of world-class research laboratory for FUL
The world-class research laboratory is one of many interventions under ASR Africa’s Tertiary Education Grants Scheme (TEGS), which is funded by ASR Africa’s $100-million Fund for Social Development and Renewal.
Kenyan tycoon Suresh Bhagwanji Shah’s I&M Bank adds 299 jobs in growth initiative
Kenyan financial services group I&M Group, founded by businessman Suresh Bhagwanji Shah, added 299 new jobs last year in its growth initiative
Khamis family leads Oriental Weavers to record $106-million revenue in Q1 2024
Oriental weavers led and majority owned by the Egyptian Khamis family recently published its Q1, 2024 results.
Indian billionaire Gautam Adani acquires stake in Tanzanian container terminal
Indian billionaire Gautam Adani has signed a 30-year concession agreement with the Tanzania Ports Authority to operate and manage Container Terminal 2 at the Dar es Salaam Port in Tanzania.