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.
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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.
Nigerian billionaire Muhammadu Indimi pledges to invest $250 million in Bauchi
Oil magnate Muhammadu Indimi vows to invest $250 million in Bauchi State as Tinubu urges global investors to seize Nigeria’s growth moment.
Discovery CEO Adrian Gore, top executives cash out $5 million in shares
Discovery CEO Adrian Gore and senior executives offloaded nearly R100 million in shares, sparking debate over insider sentiment at the South African financial giant.
Cameroon’s richest man to pocket tiny dividend from cotton producer Sodecoton
Sodecoton okays a 500 million CFA ($810,000) dividend as Cameroon lifts its stake to 89%, leaving Baba Ahmadou Danpullo’s SMIC with 11% and steady cashflows.
Madagascar’s second richest man says Africa’s growth will come from informal sector
Hassanein Hiridjee, CEO of Axian Group and Madagascar’s second richest man, says Africa’s economic future depends on empowering millions of small informal businesses with access to clean energy and fairer financing.
Tetracore Energy Group expands board, welcomes Oscar Onyema, Aisha Balewa, and Ayodele Oni to strengthen vision for Africa’s energy future
Tetracore Energy Group has appointed Oscar N. Onyema OON, Aisha Balewa Abubakar, and Dr. Ayodele Oni to its Board of Directors.
FirstRand, led by Mary Vilakazi, flags $14.7 billion U.K. car loan payout risk
FirstRand, led by South African banker Mary Vilakazi, flags UK plan that may cost lenders £11 billion, surpassing earlier estimates.
Shoprite shares fall, costing South African billionaire Christo Wiese $40 million
Christo Wiese loses $43.7 million after Shoprite shares dip, highlighting strain in South Africa’s retail sector.
Morocco’s richest man Othman Benjelloun sells Quebec estate for $10.4 million
Morocco’s richest man Othman Benjelloun sold his 500-hectare Quebec estate for $10.4 million, marking a profitable exit after 15 years.
Patrice Motsepe’s fortune tops $3.5 billion as gold prices hit all-time high
South African billionaire Patrice Motsepe’s net worth rebounds above $3.5 billion as gold prices surge past $4,000 per ounce.