Nigerian businesswoman Aisha Achimugu’s Felak Group rejects ties to $7 million Providus Bank deal
Felak Group rejects reports linking Aisha Achimugu and Oceangate Engineering to a $7 million Providus Bank case.
Nigerian aviation mogul Allen Onyema's Air Peace to create 50,000 jobs with new MRO facility
Allen Onyema’s Air Peace begins Lagos MRO project, set to generate 50,000 jobs and boost Nigeria’s aviation industry.
Africa’s richest man, Aliko Dangote, plans electric trucks for fuel distribution
Dangote said the next phase of the company’s plan is the adoption of electric trucks, beginning early next year.
Franco-Lebanese businessman Hayssam El Jammal invests $150 million in Cameroon
Franco-Lebanese businessman Hayssam El Jammal is investing $150 million to boost aluminum and steel output in Cameroon and cut reliance on imports.
South African exec. Gary Nagle-led Glencore targets Chevron’s Singapore refinery stake
Glencore and Vitol prepare bids for Chevron’s $1 billion Singapore refinery stake as U.S. oil giant trims Asian assets.
Tony Elumelu now owns over 16 percent of UBA
Tony Elumelu raises UBA holdings to 16.38 percent worth $211 million, reinforcing his influence as one of Nigeria’s richest businessmen.
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.
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.
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.
Elon Musk's Starlink halts new orders in Lagos and Abuja
Starlink has paused new internet kit orders in Lagos and Abuja after hitting capacity, with rising prices and regulatory hurdles weighing on Nigerian users.
Africa’s richest man leads record fuel exports from Dangote refinery
Dangote made the announcement at a conference, saying the plant has helped ease a problem that has dogged Nigeria for decades.
Kenyan tycoon John Kimani-linked Kakuzi teams up with government to boost agribusiness
Kakuzi, partly owned by tycoon John Kimani, partners with Siaya County to boost avocado and macadamia farming, aiming to lift rural incomes.
Cameroonian tycoon Paul Fokam’s Afriland dismisses allegations of tax-related closure in Congo
The group clarified that since the establishment of Afriland First Bank CD in 2005, the lender has never faced a sanction from the tax directorate or any other government institution.