Wema Bank, partly owned by Kessington Adebutu, gets approval for $34 million raise
Wema Bank, partly owned by Adebutu, raises $34 million, strengthening capital and funding digital expansion.
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Egyptian billionaire Samih Sawiris confirms transfer of Orascom Development shares to his son
Samih Sawiris confirms he transferred all Orascom Development shares to his son Naguib, marking a generational shift in the Egyptian billionaire’s empire.
Capitec rally pushes Michiel Le Roux stake to $3 billion
South African billionaire Michiel Le Roux’s Capitec stake climbs to $3 billion amid rising shares and investor confidence.
Adebayo Ogunlesi-linked OpenAI to launch first African AI academy in Nigeria
OpenAI, with Nigerian billionaire Adebayo Ogunlesi on its board, picks University of Lagos for Africa’s first AI academy.
South African billionaire Christo Wiese’s Premier to acquire RFG in $340 million share swap
Christo Wiese-backed Premier Group to acquire fellow South African food producer RFG Holdings in a share-swap deal valued at up to $340 million.
Egyptian billionaire Yasseen Mansour’s Palm Hills settles $6.3 million North Coast dues
Palm Hills, chaired by billionaire Yasseen Mansour, settles $6.3 million in North Coast fees as sales surge amid Egypt’s resilient property market.
Africa’s richest man Aliko Dangote faces operational setbacks at $20 billion refinery
Dangote Petroleum Refinery faces fresh disruptions as crude intake slows, raising concern over Nigeria’s fuel supply.
Why Africa’s billionaires are quietly banking offshore in Belize
From Cape Town to Cairo, Africa’s billionaire class is looking offshore — and Belize has emerged as a strategic favorite. Here’s what’s fueling the quiet migration of capital.
Seplat, co-founded by Austin Avuru, grows oil operations with new Mobil assets
Seplat Energy steps up oil and gas production after acquiring Mobil assets, strengthening performance and expanding Nigeria’s offshore capacity.
Kenyan tycoon Narendra Raval's Devki Steel among firms fined $2.2 million
Kenya’s Competition Tribunal has upheld a $2.2 million fine against Narendra Raval’s Devki Steel and six other firms for alleged price-fixing and import restrictions.
Nigerian banker Jim Ovia gains $14 million as Zenith Bank shares climb
Jim Ovia’s stake in Zenith Bank gains $14 million as the lender’s shares climb after a $34.5 million dividend boosts investor confidence.
South African billionaire Zak Calisto’s Karooooo drops below $1.5 billion
Karooooo shares fall 16 percent as investors take profits, cutting South African billionaire Zak Calisto’s stake to $847 million.
Vodacom, led by Shameel Joosub, to invest $29 million to expand 5G coverage in Limpopo
Vodacom commits $29 million to enhance Limpopo’s 5G network, improve connectivity, and empower local communities.
World’s richest Black woman, Oprah Winfrey, sees wealth rise to $3.2 billion
Oprah Winfrey’s wealth rises to $3.2 billion after another $100 million gain this year from media, real estate, and business ventures.
James Mwangi-led Equity Group backs Kenyan farmers with tractor financing
Equity Bank joins Inchcape to finance up to 95% of tractor costs, empowering Kenyan farmers and strengthening food security.
IFC backs Hassanein Hiridjee’s AXIAN with $62.5 million for Wananchi deal
IFC has committed $62.5 million to support Hassanein Hiridjee’s AXIAN Telecom in acquiring East African pay-TV and broadband provider Wananchi Group.