FCMB led by Nigerian banker Ladi Balogun gains approval for $274 million raise
FCMB Group secures shareholder approval for a $274 million capital raise as Ladi Balogun moves to meet CBN recapitalization rules.
Latest
Nigerian businessman Ufoma Immanuel’s Chappal Energies closes $430 million oil financing
Chappal Energies closes $430 million financing to boost Nigerian oil operations and support field development.
Elsewedy family firm backs Nawah Scientific’s growth in $23 million funding round
Elsewedy Electric backs Nawah Scientific in a $23 million funding round to support regional lab expansion and research services.
South African tycoon Gus Attridge’s Aspen stake rebounds above $100 million
Gus Attridge’s Aspen stake rebounds above $100 million as shares recover on the JSE, easing losses after a tough year.
Palantir CEO Alex Karp buys Colorado monastery for $120 million
Palantir CEO Alex Karp pays $120 million for Colorado monastery, setting a record for Pitkin County residential sales.
Femi Otedola boosts stake in First Bank parent with new shares worth $10 million
Nigerian billionaire Femi Otedola bought $10 million in First HoldCo shares, lifting his stake to 17.56% as earnings rose.
Brandt collapses in France, costing 700 jobs as Algeria’s richest man Issad Rebrab takes a hit
A French court ordered Brandt into liquidation, ending Cevital’s European bet and costing about 700 jobs despite a worker-led rescue plan.
Egyptian billionaire Naguib Sawiris wants to run 3 airports as government opens operations to private bids
Naguib Sawiris says he wants to run Hurghada, Luxor and Sohag airports as Egypt courts private operators to upgrade tourism gateways.
Fitch affirms Eqdom rating as Elalamy family’s Saham tightens control of Morocco’s consumer lender
Fitch affirmed Morocco’s Eqdom at AA-(mar) with a stable outlook, citing expected support from Saham Bank and improving loan recoveries.
Nigerian investor Michael J. Prest challenges Bank of Zambia over Investrust liquidation
Michael J. Prest’s BONI Global says a settled Investrust share purchase was later denied, leaving investors asking what protections exist in Zambia.
Multimillionaire tycoon Ravatomanga seeks relief after Madagascar freezes Sodiat accounts
Maminiaina Ravatomanga’s lawyers want Madagascar’s anti-graft court to allow limited payments after Sodiat-linked accounts were frozen in a laundering probe.
Moroccan real estate tycoon Alami Lazraq’s stake in ADI dips below $700 million
Alami Lazraq’s stake in ADI falls below $700 million as shares slide, highlighting pressure on Morocco’s property market.
Egyptian billionaire Hisham Talaat Moustafa unveils hospitality hub in Cairo
The new destination, branded “The Village,” officially opens this week and is designed to serve the rising number of residents moving into Celia.
Fidelis Ayebae's Fidson targets $14.4 million raise for pan-African expansion
Fidson Healthcare plans a $14.4 million rights issue to expand drug production and sales across Africa after a strong earnings surge.
Cameroon pauses move to seize MTN Mobile Money pool funds in case linked to Baba Danpullo
Cameroon has paused a recovery effort aimed at MTN’s Mobile Money pool account at Afriland, easing pressure in the Danpullo-linked dispute.
South African businessman Adrian Gore sells $3 million in Discovery shares
South African businessman Adrian Gore sells $3 million in Discovery shares while managing a $590 million stake and hedging risks.