ERC linked to Egyptian businessman Ahmed Heikal cuts $417 million debt, moves closer to dividends
ERC, part of Ahmed Heikal’s Qalaa Holdings, repays $417 million, reducing debt and moving closer to its first dividend payout.
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Cameroonian tycoon Paul Kammogne Fokam's Afriland seeks partners for Liberian business
Afriland First Bank says it wants new partners for its Liberia unit, as reports cite a planned capital raise to spur local growth.
Egyptian businessman Hani Berzi gains $27 million from Edita Foods shares
Hani Berzi’s wealth rises by $27 million as Edita Food Industries shares rally, lifting his controlling stake on Egypt’s stock exchange.
Senegalese businessman Demba Ka gets $30 million IFC boost for retail expansion
Senegalese retailer Groupe EDK, led by Demba Ka, secured $30 million from IFC to expand grocery stores nationwide and strengthen food supply chains.
Kenyan billionaire Narendra Raval breaks ground on $500 million steel plant in Uganda
Devki’s $500 million Tororo steel plant, launched by Museveni and Ruto, aims for 15,000 jobs and a million tonnes a year.
Billionaire Jannie Mouton’s Curro takeover turns unconditional, setting up January JSE delisting
Billionaire Jannie Mouton is taking Curro private via his charitable trust, betting a delisting can widen access to schooling.
How Jeff Bezos investments in Africa are taking shape through Amazon, AWS, and Fintech
Jeff Bezos investments in Africa show up in two big levers, Amazon marketplaces and AWS cloud, plus a selective fintech bet.
Anthony Joshua faces $66 million tax after blockbuster fight
US federal income tax is expected to claim about 37 percent of Joshua’s earnings, or roughly $52 million, based on top marginal rates.
Meet Ken Clark, the South African entrepreneur selling Twizza for $125 million
From a five cow start in Dordrecht, Ken Clark built Crickley and Twizza. Now a ZAR 2.095 billion sale crowns the run.
Nigerian banker Jim Ovia’s Zenith Bank stake hits $220 million
Nigerian banker Jim Ovia’s Zenith Bank stake rises above $220 million after a recent share rally.
Ghanaian entrepreneur Gregory Rockson’s mPharma gets funding to accelerate healthcare access
Ghanaian entrepreneur Gregory Rockson’s mPharma raises investment to expand medicine access across West Africa.
Folorunso Alakija says $23 million hospital will save lives, train doctors
Folorunso Alakija donates $23 million hospital to Osun State University to train doctors and provide specialist care.
Kenyan billionaires Abu Joho, Mohammed Jaffer pulled into defamation case over port rivalry
A defamation trial over a WhatsApp letter accusing Abu Joho of drug trafficking has raised allegations about Mohammed Jaffer, still unproven.
Tanzanian tycoons Ally Edha Awadh and Rostam Aziz grow Kenya's LPG presence
Tanzanian tycoons Ally Edha Awadh and Rostam Aziz grow Kenya’s LPG sector after courts approve Lake Gas and Taifa Gas projects.
After N30 billion staff award, BUA founder Rabiu shares rare holiday moment
Nigerian billionaire Abdul Samad Rabiu shares a rare holiday moment days after BUA awarded staff N30 billion in cash incentives.
Nigerian businessman Ladi Jadesimi loses $5.9 million on Aradel stake
Ladi Jadesimi loses $5.9 million on Aradel stake as shares decline, trimming earlier gains in Nigeria’s energy sector.