U.S. investor Jeffrey Stoops’ SBA Communications acquires Airtel’s tower operations in Tanzania
Airtel’s expansive tower portfolio will go for about $175 million.
Latest
Zimbabwe issues ultimatum to billionaire Alexander Machkevitch’s ERG
Eurasian Resources Group (ERG) is on the verge of losing its concessions in the country.
Ugandan businessman Abid Alam’s Kassanda Sugar Factory slated to launch production on Sept. 1
The factory will have a capacity of 1,500 tonnes per day.
Tanzanian mogul Ketan Patel’s stake in Shanta Gold surges by $3.14 million
Shanta Gold is an East Africa-focused gold producer based in Tanzania.
Group Vice President Ebenezer Asante sees stake in MTN Ghana decline by $320,000
The losses were due to a decline in the MTN Ghana share price.
Steel tycoon Narendra Raval injects millions into ARM Cement’s fertilizer unit
The multimillionaire has invested $16.7 million in upgrading the unit.
Nigerian tycoon Obafoluke Otudeko, son to earn $1.02 million in Honeywell dividends
Otudeko founded the integrated flour milling company in 1985.
Nassef Sawiris’ stake in Orascom Construction drops by $10 million in one month
The company’s share price on the Egyptian Stock Exchange lost six percent of its value since early May.
Chipper Cash founders Ham Serunjogi, Maijid Moujaled raise $100 million in Series C round
The fintech startup facilitates cross-border payments across Africa.
South African mining tycoon Neal Froneman criticizes government’s attitude toward sector
The Sibanye-Stillwater CEO took issue with South Africa’s sluggish stance on attaining carbon neutrality.
South Africa’s wealthiest man Johann Rupert sees net worth rise by $2.05 billion
The gains were due to a rise in the share price of Compagnie Financiere Richemont and Distell Group.
Egyptian-American tycoon Ahmed Bahjat laid to rest in Egypt
The founder of Egypt’s Bahgat Group passed away after a protracted battle with an unspecified illness.
Tanzanian multimillionaire brothers Aunali and Sajjad Rajabali’s stake in CRDB bank soars
Its market value has climbed 35 percent in under two months.
Sawiris-backed Endeavour to buy Teranga Gold in $1.86-billion deal
The combined company will produce about 1.5 million ounces of gold per year across West Africa.
John Coumantaros’ Flour Mills to invest $300 million to raise sugar production capacity
It will invest at least $300 million in building a new plant and a 15,000-hectare sugarcane plantation.
Equity Group Managing Director James Mwangi sees stake rise by $8.9 million
The surge follows a rise in the company’s shares on the Nairobi Stock Exchange.