Ugandan beverage tycoon Amos Nzeyi faces state pension fund bid to reclaim 55 acres
Uganda's state pension fund has dropped a proposed settlement with tycoon Amos Nzeyi and wants back 55 acres it bought in 2008.
East Africa
Kenya's Kenyatta family now owns $109 million stake in South Africa's Nedbank
The Kenyatta family now owns about 1.2% of Nedbank after swapping NCBA shares, a stake worth about $109 million on the Johannesburg exchange.
Kenyan tycoon Baloobhai Patel's Carbacid lifts profit 12% to $8.7 million
Carbacid Investments, 49.9% owned by Kenyan investor Baloobhai Patel, raised annual profit 12.2% to Sh1.13 billion and held its dividend at Sh2 a share.
Kenya's Kenyatta family's $132 million NCBA payout begins as Nedbank takes control
Nedbank took 66% of NCBA in a Nairobi block trade on Tuesday, and the Kenyatta, Ndegwa and Merali families began collecting about $324 million.
Uganda’s richest man Sudhir Ruparelia to open 19-acre island resort on Lake Victoria
Ruparelia Group's Paradise Island Resort, a 38-unit retreat on a private island in Lake Victoria, opens Dec. 1, more than five years after construction began.
Kenyan billionaire Narendra Raval has spent $1.5 billion on cement and steel plants
Kenyan tycoon Narendra Raval's Devki Group has committed more than Sh200 billion over five years to new cement and steel capacity across East Africa.
Sudanese billionaire Mo Ibrahim says governance fell in 23 African countries
Sudanese-British billionaire Mo Ibrahim says Africa is living through an era of strongmen as his 2026 index shows governance worsening in 23 countries.
Tanzanian billionaire Rostam Aziz's Taifa to build gold mine in $23 million deal
Rostam Aziz's Taifa Group will build Lake Victoria Gold's Imwelo mine in Tanzania and take a stake as the miner raises up to C$32.2 million.
Kenyan billionaire Narendra Raval's Devki seeks to mine iron ore on 7,370 acres
Devki Steel Mills, owned by Kenyan billionaire Narendra Raval, has applied for a licence to mine iron ore on 7,370 acres in Taita Taveta County.
Madagascar billionaire Hassanein Hiridjee's AXIAN secures $34 million for four Benin solar plants
AXIAN, led by Madagascar billionaire Hassanein Hiridjee, has signed €30 million of financing to build four solar plants with 62 megawatts of capacity in Benin.
Kenyan trucking tycoon Buzeki partners Olympic champion Asbel Kiprop on shoe brand
Kenyan trucking tycoon Zedekiah Bundotich Kiprop, known as Buzeki, is teaming up with Olympic champion Asbel Kiprop to build a running shoe brand called AK.
Kenyan sugar tycoon Jaswant Rai plans $32 million factory in Nandi County
Jaswant Rai's West Kenya Sugar plans a Sh4.2 billion factory in Nandi County, extending the Rai family's hold on Kenya's sugar industry.
Madagascar billionaire Hassanein Hiridjee expands AXIAN’s solar energy investments into Guinea
Madagascar billionaire Hassanein Hiridjee’s AXIAN Energy has joined Guinea’s Khoumagueli solar project, with construction targeted for 2027.
Kenyan court reopens fight over late tycoon Stanley Githunguri’s $14 million property empire
A Kenyan court has reopened the fight over late tycoon Stanley Githunguri’s $14 million estate, overturning an order that protected the family’s properties.
Kenyan billionaire Narendra Raval says leaders tried to move $539 million cement plant
Kenyan billionaire Narendra Raval says leaders pressured him to move his $539 million Kitui cement plant, as President William Ruto laid its foundation stone.
Malagasy tycoon Mamy Ravatomanga’s Boeing-to-Iran trial delayed again as Madagascar awaits US evidence
The Madagascar trial over five Boeing 777s flown to Iran, which names Malagasy tycoon Mamy Ravatomanga, has been postponed again to Nov. 5.