Nigerian gambling magnate Kessington Adebutu, daughter pocket $1.22 million in Wema Bank dividends
Adebutu is expected to earn $1.05 million, while his daughter is on course to earn $169,965.
African Billionaires
Nigerian entrepreneur Abdul Hassan’s Mono raises millions to power Internet economy
The Nigerian fintech startup Mono has closed a $2-million deal in a seed funding round.
BNP Paribas charged on suspicion of laundering millions for late Gabonese President Omar Bongo Ondimba
Radio France International reported the development as part of a long-running investigation.
Moi family of Kenya to pocket $380,000 Standard Chartered Bank dividend
The family of the late Kenyan President Daniel arap Moi will pocket $380,000 in dividends from Standard Chartered Bank.
U.S. firm accuses Ghanian tycoon and party founder Papa Kwesi Nduom of laundering $63 million
There is little publicly available information about the company that brought forward the case.
Safaricom, MTN Group bid for licenses in Africa’s second-most populous country, Ethiopia
The bureaucratic bidding process seems to finally be nearing an end.
James Mwangi-led Equity Group partners with KfW on Kenyan scholarship program
The Wings to Fly program is implemented with the Mastercard Foundation and Germany’s KfW.
Kenyan steel tycoon Narendra Raval makes bid to rescue struggling sugar company
Founded in 1971, Mumias Sugar was once the largest sugar manufacturer in Kenya.
Egyptian billionaire Nassef Sawiris’ net worth rises by $820 million in May
The surge is largely due to gains in his shares in Adidas and OCI N.V.
Kenyan Court of Appeal dismisses board of Benson Ndeta’s Savannah Cement
The move comes after protracted legal battles over the insider purchase of a share in the company.
Ali Abdallah Hettam’s Djibouti-based lender acquires 100 percent of Kenya’s Uwezo Microfinance Bank
The Central Bank of Kenya announced the acquisition.
Huawei teams up with Safaricom to offer innovative solutions for restaurants
The Scan & Order solution will help digitize menus and ordering systems.
Mandela foundation launches $80,000 Äänit Prize to support projects with positive punch in Africa
The prize will go to projects that have a high potential for impact.
Flutterwave, Basketball Africa League partner up to drive economic growth in Africa
The multi-year partnership is aimed at assisting micro-, small- and medium-sized enterprises.
Aliko Dangote expresses interest in Sudan’s agricultural sector
His interest aligns with the African Continental Free Trade Area’s aim to boost intra-African trade.
High Court annuls long-contested will of Tanzanian media mogul Reginald Mengi
The Tanzanian High Court has rejected the will of the late billionaire businessman.