South African billionaire Christo Wiese’s Invicta profit rises above $40 million
The company’s improved performance reflects ongoing efforts to streamline operations, boost efficiency, and focus on key areas of the business.
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Kenyan banker James Mwangi's Equity Group to auction vehicles in $2.3 million loan dispute
Kenya’s High Court cleared Equity Bank to auction 30 vehicles to recover a $2.34 million debt, underscoring rising defaults and tougher enforcement on distressed borrowers.
15 companies the late Nigerian businessman Aminu Dantata owned
Inside Aminu Dantata’s 15-company legacy spanning oil, real estate, banking, transport, and Nigeria’s economic rise.
Johann Rupert’s Reinet in talks to sell pension stake in deal worth up to $6.8 billion
Reinet, led by Johann Rupert, is in talks to offload its top asset, Pension Insurance Corp, in a deal worth up to $6.85 billion.
South African pharma tycoon Stephen Saad’s Aspen stake falls below $400 million
Stephen Saad’s stake slips below $400 million as Aspen shares fall 5.2% dragging market cap under $3 billion.
Aliko Dangote’s mega refinery commits $467 million to CNG push
The refinery is deploying 4,000 CNG-powered trucks nationwide to deliver petrol, diesel, and aviation fuel directly to filling stations and industrial hubs.
Hassanein Hiridjee’s AXIAN Telecom raises $600 million to expand connectivity in Africa
AXIAN Telecom secures $600M in bond funding to deepen digital reach, expand broadband, and connect millions across Africa.
Egyptian billionaire Nassef Sawiris’ OCI finalizes $1.6 billion methanol business sale
OCI sells $1.6 billion methanol unit to Methanex, secures cash, cuts debt, and plans $1 billion shareholder payout by 2026.
Jens Montanana’s Datatec revenue falls to $3.6 billion in FY 2025
Datatec’s revenue dropped nearly 9% to $3.64 billion in FY2025, while net profit rose 36% as the group focused on cost discipline and strategic growth.
Elon Musk’s Starlink reconnects Nigeria after regulatory halt
The expansion comes after significant upgrades to network capacity, aimed at boosting connectivity in Africa’s most populous nation.
Egypt’s Mohammed El-Sewedy sees electric stake rise toward $600 million
Egyptian tycoon gains $31.6 million in eight days as Elsewedy Electric stock surges on EGX.
Billionaire philanthropist Aminu Dantata, uncle to Aliko Dangote, dies at 94
News of his passing was confirmed on Saturday by his Principal Private Secretary, Mustapha Abdullahi Junaid, who shared the announcement with deep sorrow.
Billionaire Femi Otedola backs tax reforms, calls them turning point for Nigeria’s economy
The Nigerian businessman and philanthropist hails President Tinubu’s overhaul of Nigeria’s tax laws as a transformative moment for business and inclusive growth.
Equity Group, led by James Mwangi, receives approval to launch UAE office
This marks a significant milestone in the bank’s international expansion strategy as it seeks to deepen global connectivity and access new markets.
Merali family's Sameer Africa closes $7.1 million land sale to slash debt
Sameer Africa finalizes $7.1 million land sale after years of delay, using proceeds to cut debt as profit hits a decade high, driven by forex gains and lower costs.
Nigerian banker Jim Ovia gains over $38 million from Zenith Bank stake
This gain comes as the bank’s shares have risen steadily on the NGX, reflecting growing investor confidence in Zenith Bank’s performance.