Shoprite Nigeria’s big-store model no longer sustainable under Tayo Amusan’s Ketron
Shoprite Nigeria, under Ketron, is revamping operations, focusing on smaller stores and local supply chains to better serve Nigeria’s market.
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British-Nigerian entrepreneur Ladi Delano leads Moove on path to $2 billion
Moove, led by Ladi Delano, targets $2 billion valuation, expanding mobility financing across Africa, the U.S., and Latin America.
South African tycoon Giovanni Ravazzotti loses $67 million from Italtile stake
South African businessman Giovanni Ravazzotti’s Italtile stake drops $67 million amid weaker consumer demand and JSE pressures.
Africa’s richest man, Aliko Dangote, plans electric trucks for fuel distribution
Dangote said the next phase of the company’s plan is the adoption of electric trucks, beginning early next year.
Malawi billionaire Hitesh Anadkat’s FMB stake tops $1.2 billion
Malawian billionaire Hitesh Anadkat’s FMB stake climbs to $1.22 billion amid regional banking growth.
Franco-Lebanese businessman Hayssam El Jammal invests $150 million in Cameroon
Franco-Lebanese businessman Hayssam El Jammal is investing $150 million to boost aluminum and steel output in Cameroon and cut reliance on imports.
South African exec. Gary Nagle-led Glencore targets Chevron’s Singapore refinery stake
Glencore and Vitol prepare bids for Chevron’s $1 billion Singapore refinery stake as U.S. oil giant trims Asian assets.
Aliko Dangote’s $20 billion refinery suspends self-collection sales
Aliko Dangote’s $20 billion refinery halts self-collection sales, shifts marketers to free delivery scheme to streamline fuel supply.
Tony Elumelu set to pocket $1.11 million dividend as UBA profit climbs in H1 2025
Tony Elumelu nets over US$1.1 million as UBA posts modest profit growth and boosts asset base in tough economic climate.
Kola Aluko resurfaces promoting Los 7 Ángeles tequila—is this the exiled tycoon’s next act?
Former oil tycoon Kola Aluko aggressively promotes Los 7 Ángeles tequila on Instagram, sparking speculation about a potential investment or new business chapter.
Tony Elumelu now owns over 16 percent of UBA
Tony Elumelu raises UBA holdings to 16.38 percent worth $211 million, reinforcing his influence as one of Nigeria’s richest businessmen.
LeBron James doubles down on SpringHill, eyes bigger role in entertainment
LeBron James says his focus is shifting “off the hardwood,” aiming to build SpringHill into “the greatest storytelling company there is.”
South African mining magnate Sipho Nkosi honored with DUT doctorate for trailblazing business leadership
South African mining magnate Sipho Nkosi receives a DUT honorary doctorate, celebrating his leadership, ventures in mining and energy, and dedication to empowerment.
Zimbabwean tycoon Kudakwashe Tagwirei splashes $2 million on Mnangagwa’s birthday amid U.S. sanctions
Kudakwashe Tagwirei, a sanctioned Zimbabwean tycoon and ZANU-PF benefactor, reportedly spent US$2 million on President Mnangagwa’s birthday festivities.
South African exec. Fani Titi-led Investec expands advisory business into Switzerland
The move folds the Zurich-based team into Investec’s broader European advisory arm, expanding the firm’s footprint in a market where it has operated since 1978.
Nigerian banker Jim Ovia’s Zenith Bank sees $355 million profit in first half
Zenith Bank’s H1 profit falls to $355 million as impairments rise, while total assets reach $20.7 billion.