betPawa posts record $111 million profit in 2024
BetPawa, the African mobile betting platform founded by Kresten Buch, reported its biggest annual profit yet on surging digital wagers.
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Kenyan tycoon Peter Munga wins 14-year battle over TransCentury shares
Kenyan tycoon Peter Munga wins court case over a Ksh150 million ($1.2 million) TransCentury share dispute, ending a 14-year legal battle.
Moroccan billionaire Alami Lazraq gains $36 million from ADI shares
Alami Lazraq gains $36 million in 8 days as shares of Alliances Développement Immobilier (ADI) surge on the Casablanca Bourse.
Sam Darwish's IHS completes $274 million sale of Rwanda operations
IHS Towers, led by Sam Darwish, has sold its Rwandan operations to Paradigm Tower Ventures for $274.5 million, refining its African focus.
Africa's richest man Aliko Dangote’s refinery boosts daily petrol supply to 20 million
Aliko Dangote’s refinery now supplies 20 million liters of petrol daily, advancing Nigeria’s energy independence and industrial growth.
Paul Fokam’s Afriland First Bank to open new branches in Central Africa
Cameroonian businessman Paul Fokam’s Afriland First Bank gets Cobac approval to expand into Congo, CAR, and Chad, boosting regional banking reach.
Abdul Samad Rabiu’s net worth nears $8 billion after $400 million rebound
Abdul Samad Rabiu regains $400 million, lifting his net worth to $7.9 billion amid naira recovery and market growth.
Baloobhai Patel’s Aksaya to build Marriott-branded hotel at Nairobi Airport
Baloobhai Patel’s Aksaya Estates partners with Marriott to open a Courtyard hotel at Nairobi Airport, expanding luxury hospitality in Kenya.
Discovery co-founder Barry Swartzberg loses $40.7 million in share slump
South African tycoon Barry Swartzberg, co-founder of Discovery Limited, has seen his stake drop by $40 million as the insurer’s shares dip on the JSE.
IBL Group, led by Arnaud Lagesse, completes $117 million AfrAsia Bank stake sale
Mauritian tycoon Arnaud Lagesse’s IBL Group sells a $117 million AfrAsia Bank stake to Access Holdings to rebalance investments.
LeBron James extends global partnership deal with Hennessy
LeBron James extends his global partnership with Hennessy, launching a new V.S.O.P. Limited Edition.
Canadian financier Charles Field-Marsham, who founded Kenya’s top investment bank, exits in management buyout
Canadian banker-entrepreneur Charles Field-Marsham exits Kestrel Capital via a management buyout, capping three decades of market-building and leaving the firm to a Kenyan investor group.
Sanlam, backed by billionaire Motsepe, to acquire medical devices firm Medhold
Sanlam, backed by South African billionaire Patrice Motsepe, is acquiring Old Mutual’s Medhold, expanding its footprint in Africa’s fast-growing healthcare sector.
Nigerian-Lebanese tycoon Bassim Haidar plans $365 million IPO in South Africa with AI Fintech Optasia
Bassim Haidar is betting big on African fintech, planning South Africa’s largest IPO of 2025 to fund Optasia’s global expansion.
Tribunal resets control of Directline, impacting Kenyan media mogul SK Macharia
Tribunal resets Directline control, impacting SK Macharia and reinstating the insurer’s February 2023 ownership structure.
Mombasa tycoon Mohamed Jaffer faces new court battle over held wheat imports
Mohamed Jaffer’s Bulkstream Limited sued by Pan Afric Commodities over 1,514 tonnes of wheat held at Mombasa Port.