Kenya's wealthy Muguku family nears $70 million sale of Waterfront Karen mall
The heirs of Kenyan poultry billionaire Nelson Muguku are near a deal to sell their Karen mall for about $70 million, half the 2021 asking price.
East Africa
Billionaire Rostam Aziz's $124 million Mombasa gas terminal nears completion to break Kenya import duopoly
Tanzanian billionaire Rostam Azizi's $124 million Taifa Gas terminal in Mombasa is nearing completion, poised to break Kenya's cooking gas import duopoly.
Bill Gates visits Rwanda to review AI health rollout backed by $50 million pilot
Bill Gates is in Rwanda to review its health and AI progress, months after his foundation and OpenAI made it the launch site for a pilot.
Malagasy billionaire Hassanein Hiridjee's Fondation H to close Paris art space in September
Fondation H, created by Franco-Malagasy magnate Hassanein Hiridjee, will close its Paris art space in September to refocus on the African continent.
Ugandan tycoon Charles Mbire quit Kampala Cement board over governance failures before collapse
Ugandan tycoon Charles Mbire says he resigned from Kampala Cement's board over unauthorised transactions three years before the $82 million-indebted cement maker collapsed.
Museveni meets billionaire Rostam Aziz as Uganda media shutdown enters political phase
President Museveni has met billionaire Rostam Aziz, the incoming owner of Nation Media Group, over Uganda's shutdown of the Daily Monitor and NTV Uganda.
Court bars expansion at Kenyan billionaire Mohamed Jaffer's Mombasa oil terminal over mangrove damage
A Kenyan court has barred billionaire Mohamed Jaffer's oil company AGOL from new construction at its Mombasa terminal over alleged destruction of a protected mangrove forest.
Billionaire heiress Mary-Ann Musangi elected vice chair of Kenya manufacturers body
Mary-Ann Musangi, billionaire heiress to Chris Kirubi and managing director of Haco Industries, has been elected vice chairperson of the Kenya Association of Manufacturers.
Tycoon Ngugi Kiuna's BOC Kenya stake soars after the buyout he fought collapsed
BOC Kenya shares have more than doubled since the Carbacid buyout collapsed, lifting the stake of Ngugi Kiuna, who opposed the offer as too low.
Kenyan beer tycoon Ngugi Kiuna fails to block $1.5 million legal fee claim in Heineken case
Kenyan tycoon Ngugi Kiuna has failed to block a law firm from pursuing more than $1.5 million in legal fees tied to his Heineken court battle.
Mary Wambui, one of Kenya's richest women, loses court bid to stop Equity Bank takeover of Glee Hotel
A Kenyan court has refused to halt Equity Bank's takeover of Mary Wambui's luxury Glee Hotel over a debt the bank values at KSh 9.1 billion.
Tanzanian billionaire Mohammed Dewji to invest $275 million in graphite mining and luxury tourism
Tanzanian billionaire Mohammed Dewji is investing about $275 million in graphite mining and luxury tourism, part of a plan to triple MeTL Group revenue by 2035.
Billionaire Mohammed Dewji vows to strengthen his Simba SC squad after ending trophy drought
Billionaire Mohammed Dewji has pledged to reinforce his Simba SC squad for an African push after the Tanzanian club ended a four-year trophy drought.
Billionaire Mohammed Dewji's MeTL signs Italian deal for silos at a Tanzanian grain plant
A MeTL Group unit owned by billionaire Mohammed Dewji has signed a 2 million euro deal for Italian silos and equipment at a Tanzanian grain plant.
Indian billionaire Ravi Jaipuria's Varun Beverages enters Kenya with $32 million dairy deal
Ravi Jaipuria's Varun Beverages is entering Kenya with a $32 million deal for the dairy, juice and water business of a family-owned company.
Kiwi billionaire Stephen Jennings faces new Mauritius fight over Kenya's Tatu City
Kenyan investors want Mauritius' top court to let them arbitrate against Stephen Jennings' Rendeavour over dilution of their Tatu City stakes.