Hassanein Hiridjee’s AXIAN eyes Jumia buyout as market value hits $600 million
AXIAN Telecom considers buying Jumia after raising stake and securing $600 million in bonds to boost Africa’s digital commerce growth.
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Malawian tycoon Hitesh Anadkat’s stake in FMB Capital tops $700 million again
Hitesh Anadkat’s FMB Capital stake rises to $738.85 million as shares rally 15% in four days, adding $96 million to his fortune.
Afreximbank raises Oando’s loan to $375 million as President’s nephew drives expansion
This is expected to fund Oando’s plans to ramp up production to 100,000 barrels of oil and 1.5 billion cubic feet of gas per day by 2029.
After Kenya’s $20 million surprise, world’s richest investor gives away $6 billion
Warren Buffett gives $6 billion in Berkshire shares to five foundations, on the heels of a $20 million grant to Kenya’s health system.
Mining company owned by Africa's first Black billionaire unveils plans to cut jobs
The decision underscores ongoing challenges in South Africa’s manganese mining sector and broader commodity price pressures.
South Africa’s richest man Johann Rupert’s wealth jumps by $1 billion in a week
Johann Rupert adds $1 billion in a week as Richemont and Reinet shares climb, lifting his net worth to $16.9 billion.
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.
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.