Egyptian tycoon Abdallah Sallam’s Madinet launches $370 million SAFE fund
Egyptian tycoon Abdallah Sallam’s Madinet wins FRA nod for its $370 million SAFE fund, a fractional real estate platform with 70,000 users.
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Tony Elumelu's UBA faces Ghana FX ban
The Bank of Ghana has suspended UBA Ghana’s foreign exchange licence, piling pressure on Tony Elumelu.
Kenyan tycoon David Langat finally pays Tanzanian tea farmers after several years
Kenyan businessman David Langat has started paying long-overdue debts to Tanzanian tea farmers, seven years after buying three major firms. His move signals a fresh start for the struggling industry.
South African tycoon Mike Teke urges rethink on coal investments after Seriti’s $295 million package
South African tycoon Mike Teke urges financiers to back responsible coal funding, saying the resource remains key to energy security and growth.
Zimbabwean telecom executive Ralph Mupita denies talks on Telkom acquisition
The remarks came a day after reports suggested MTN was reconsidering a takeover bid for Telkom, which owns South Africa’s biggest fiber network.
Nigerian billionaire Femi Otedola spends $15 million on daughter’s wedding
Temi Otedola, daughter of Nigerian billionaire Femi Otedola, married Afrobeats star Mr. Eazi in a $15 million trilogy, the most expensive wedding in Africa’s history.
Shameel Joosub-led Vodacom strikes clean energy deal to ease South Africa grid reliance
The company launched its virtual wheeling solution, enabling companies to source renewable electricity through the grid from independent producers.
Nigerian developer Sijibomi Ogundele wanted by EFCC over alleged money laundering
Sijibomi Ogundele, CEO of Sujimoto Group, faces EFCC probe over alleged money laundering and fund diversion in Nigeria.
Kenyan entrepreneur Chris Mwirigi’s betting firm renews $1.8 million sports sponsorship deal
Kenyan entrepreneur Chris Mwirigi’s Betika has renewed its $1.8 million deal with AFC Leopards, securing one of Kenyan football’s biggest sponsorships.
South Africa’s Stephen Saad expects $50 million sales from Aspen’s weight loss drug
South African pharma tycoon Stephen Saad says Aspen’s weight loss drug could reach $50 million in sales within two years.
South Africa’s Christo Wiese sees Shoprite stake approach $1 billion
Shoprite stock rally boosts South African billionaire Christo Wiese’s stake close to the $1-billion mark.
Zimbabwean executive Ralph Mupita leads MTN in potential Telkom bid
The Johannesburg-based company has reopened discussions after walking away from a deal two years ago.
Tanzanian entrepreneur Benjamin Fernandes' NALA enters Kenya after $40 million funding
Tanzanian fintech NALA, led by Benjamin Fernandes, has entered Kenya with $40 million Series A backing, eyeing the $4.9 billion remittance market.
South African businessman Senzo Tsabedze’s Afrirent acquires Protea Hotel Mahikeng
Afrirent Holdings, led by Senzo Tsabedze, has acquired Protea Hotel Mahikeng, its first full hotel ownership under Indalo Hotels & Leisure.
Texton, linked to South Africa’s Robert Franco, exits Blackstone REIT with $6.2 million in proceeds
South Africa’s Texton, linked to Robert Franco, completes $6.2 million Blackstone REIT exit to strengthen its balance sheet.
South African billionaire Motsepe pockets $32.5 million ARM dividend
Billionaire Patrice Motsepe will earn R574.8M ($32.5M) in dividends from ARM despite a sharp earnings drop at his mining group.