Business as usual as St. Kitts and Nevis choose a new prime minister and a majority government
The Fairway Group expects a smooth and seamless transition under the new government.
African Billionaires
Namibian tycoon Quinton van Rooyen’s Trustco wins round in court against JSE
Shares in the group rose 35.56 percent as a result.
Ugandan tycoon Charles Mbire to pocket $1.15-million interim dividend from MTN Uganda
Mbire owns a significant 3.98-percent stake in the Ugandan telecom outfit.
Billionaire Robert Smith’s Vista to acquire Avalara business software for $8.4 billion
Smith directs Vista’s investment strategy.
Led by Kenyan founder Owen Sakawa, AI-powered startup Elloe acquires Flo by Saada
Elloe was founded in 2021 by Sakawa, Abhijay Rao, and Aaron Madolora.
Nigerian president approves acquisition of ExxonMobil assets by oil tycoon Bryant Orjiako’s Seplat Energy
Seplat Energy is an independent oil and gas company.
Controlled by Kenyan tycoons, Britam Holdings hints at sale of HF Group stake
Britam has classified its 48.2-percent stake in HF Group as held for sale.
Nigerian billionaire Femi Otedola’s Zenon Petroleum takes Ardova to court over $6-million debt
The winding-up petition adds to the pressures on Ardova and its majority owner.
South African tycoon Jens Montanana’s Datatec acquires UK-based firm after closing $252-million deal
Datatec is a South African ICT services provider.
Tycoon Anas Sefrioui loses $111 million from stake in Moroccan property developer
The market value of Sefrioui’s 64.1-percent stake has now dropped to $189.43.
Kenyan businessman James Mwangi gains $9.9 million in less than two months as Equity shares rebound
Mwangi’s 3.38-percent stake has now risen in value to $51.71 million.
Tanzanian businessman Gaurav Kotecha fails to overturn arrest warrant over $5.9-million fraud case
Kotecha has been charged alongside his father, Midland Hauliers Director Javesh Kumar Prabhudar Kotecha.
Egyptian mogul Hendi El-Sherbini acquires additional $3.2 million in IDH shares
Her stake in the company has now risen from 25.5 to 26.1 percent.
Zimbabwean exec Andrew Chimphondah-led Shelter Afrique recovers $5.7 million in troubled projects
Chimphondah is known for his successful business turnarounds.
Kenya Revenue Authority investigates John Kimani-linked Kakuzi for tax evasion
Kimani owns 32.3 percent of the company, or 6,330,699 shares.
Ugandan tycoon Charles Mbire’s MTN Uganda reports more than $50 million in profit in H1 2022
Mbire owns 3.98 percent of the company.