Moroccan billionaire Anas Sefrioui loses $62.3 million in 71 days as ADH shares slide
Douja Promotion Groupe Addoha (ADH) is a Morocco-based real estate developer and construction company.
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Jeremy Awori-led Absa Bank auctions 40 vehicles linked to bankrupt Italian firm CMC di Ravenna
Formerly Barclays Bank Kenya, Absa Bank Kenya is the local subsidiary of the South Africa-based Absa Group.
Egypt’s richest man Nassef Sawiris loses $621.8 million due to slump in Adidas shares
Investors fear supply chain disruptions caused by COVID-19 could impact Adidas’ sales.
Abdulhamid Hassan’s fintech startup Mono raises $15-million Series-A round
The startup helps African businesses access high-quality financial data and direct bank payments.
Kenyan tech tycoon Julius Mwale outbids participants in deal to control Mumias Sugar
The bid puts him ahead of steel tycoon Narendra Raval and Rai Group Chairman Jaswant Rai.
Sawiris-backed Endeavour concludes refinancing with $500-million note issuance
The latest issuance will pay interest semiannually at a rate of five percent per year, maturing on Oct. 14, 2026.
Stephane Bancel’s Moderna to invest $500 million to build factory in Africa
The factory will produce about 500 million doses of mRNA vaccines annually on the continent.
Nigerian billionaire Abdul Samad Rabiu donates $2.4 million to Nnamdi Azikiwe University
The donation was made through his Abdul Samad Rabiu Africa Initiative, the philanthropic arm of BUA Group.
Christo Wiese’s Invicta Holdings acquires controlling stake in Dartcom for $33 million
Dartcom is Africa’s leading distributor of communication and renewable energy technology solutions.
Mauritian businessman Guillaume Dalais to earn $158,600 in interim dividend from CIEL Limited
The dividend will be paid from the group’s full-year profits of $10.45 million for the period ending June 30.
Ghanaian businesswoman Roberta Annan launches $115.8-million fund to invest in African fashion enterprises
Annan is the founder of the African Fashion Foundation Annan Capital Partners.
Kenyan billionaire David Langat and family dragged to court over $152,000 travel debt
The plaintiff claims that they flew around the country and abroad for a year and now refuse to pay the bill.
Nigerian billionaire Benedict Peters’ Aiteo Group sues Shell over sale of OML-29 operating license
Aiteo Group has sued Shell for more than $2.5 billion over the ownership status of the OML-29 block.
African Judo Union President: ‘Businesses must support sport. It has the power to change the world.’
MP and AJU President Siteny Thierry Randrianasolo-Niaiko is one of Madagascar’s most dynamic public figures.
Obafoluke Otudeko wins twice on Nigerian Exchange as stake in First Bank gains $3.2 million in 10 days
The multimillion-dollar gain in Otudeko’s stake can be linked to price movements in the lender’s shares.
Telecom mogul Mike Adenuga partners with Eutelsat to extend satellite broadband to underserved Nigeria
The deal aims to provide high-speed broadband by satellite to underserved areas in Nigeria.