Nigerian billionaire Abdul Samad Rabiu collects $144.4 million in BUA Foods dividend
Abdul Samad Rabiu received a $144.4 million dividend from BUA Foods after the company boosted its payout by 136 percent in 2024.
South African billionaire Johann Rupert’s Richemont watch brand sets up first U.S. boutique
The store marks Watchfinder’s first permanent boutique in the American market, offering customers an opportunity to experience its inventory in person.
Nigerian developer Sijibomi Ogundele faces detention over $3.8 million school project dispute
Sujimoto CEO, Sijibomi Ogundele, faces EFCC scrutiny after Enugu officials accused him of abandoning $3.8 million school project.
FirstRand, led by South African banker Mary Vilakazi, posts $2.6 billion profit
FirstRand, led by CEO Mary Vilakazi, posted a $2.6 billion profit in 2025, up 10 percent on gains across retail, commercial and investment banking.
Equity Group, led by Kenyan banker James Mwangi, seizes Nairobi’s Eastland Hotel
Equity Bank has seized Nairobi’s Eastland Hotel over loan default, underscoring mounting pressure on Kenya’s hospitality sector and rising bad debt
Wema Bank, partly owned by gambling magnate Adebutu, wins nod for $100 million capital raise
The capital raise, which opened on April 14 and closed on May 21, was part of the lender’s plan to meet the CBN’s recapitalization directive for commercial banks.
South African tycoon Adrian Gore’s Discovery posts $545 million profit in FY 2025
Discovery, led by Adrian Gore, posts $545 million profit in FY 2025, driven by growth in health, life, and Vitality businesses.
Kenyan tycoon Narendra Raval targets 7,610 acres to mine iron ore for steel plant
The application covers 30.8 square kilometers, or about 7,610 acres. Iron ore, which is mainly used to make pig iron, is a key raw material in steel production.
Egyptian billionaire Naguib Sawiris’ ORA Developers launches $16 billion projects in UAE, Iraq
Malagasy businessman Hassanein Hiridjee’s Axian joined a $3.5 million round for Paris-based Nucleon Security to scale AI-driven cyber defense.
Tendai Madziwanyika-led RTG to invest $1.6 million in Harare hotel upgrades
Rainbow Tourism Group plans $1.6 million upgrades at Harare’s Rainbow Towers, including solar power, restaurants, and wellness facilities.
Nigerian banker Peter Ashade-led United Capital signs $3.3 million solar minigrid loan
United Capital, led by Peter Ashade, funds Husk Power’s $3.3M community solar minigrid in Nigeria to expand clean energy access.
South African billionaire Patrice Motsepe’s ARM halts operations at Bokoni mine
The company said Friday the shutdown will allow it to work on a revised mining plan for the Limpopo-based mine, after mounting losses and rising costs.
Egyptian tycoon Hani Berzi loses $11 million on Edita stake
Egyptian businessman Hani Berzi’s Edita stake drops $11 million after stock slide, though annual gains remain largely intact.
Karl Toriola-led MTN Nigeria to spend $664 million on network expansion
The commitment comes despite a difficult year that left the industry struggling with foreign exchange shortages and soaring operating costs.
South African billionaire Koos Bekker-led Prosus backs Orbii’s $3.6 million seed round
The round also drew backing from VentureSouq, DASH Ventures, Taz Investments, and Sanabil 500.
Ghanaian tycoon Ibrahim Mahama’s E&P acquires Black Volta, Sankofa gold projects
The acquisition followed the transfer of all issued shares from Azumah Resources Ghana Ltd. and Upwest Resources Ltd., according to filings with Ghana’s Registrar of Companies.