Equity Group, led by Kenyan banker James Mwangi, seizes Nairobi’s Eastland Hotel
Equity Bank has seized Nairobi’s Eastland Hotel over loan default, underscoring mounting pressure on Kenya’s hospitality sector and rising bad debt
East Africa
Mantrac Kenya celebrates 100 years of Caterpillar in Kenya
Mantrac Group is among the largest Caterpillar dealers worldwide, providing machinery, power systems, and material-handling equipment across 11 countries.
Kenya’s richest banker James Mwangi adds $12.6 million from Equity Group stake
Kenyan banker and leading businessman James Mwangi adds $12.6 million from his Equity Group stake as shares rally.
Kenyan tycoon Narendra Raval targets 7,610 acres to mine iron ore for steel plant
The application covers 30.8 square kilometers, or about 7,610 acres. Iron ore, which is mainly used to make pig iron, is a key raw material in steel production.
Malagasy businessman Hassanein Hiridjee’s Axian backs Paris AI cybersecurity startup
Malagasy businessman Hassanein Hiridjee’s Axian joined a $3.5 million round for Paris-based Nucleon Security to scale AI-driven cyber defense.
Kenyan businessman Henry Njeru’s tea company placed under administration
Njeru Industries, a Kenyan tea firm, enters administration amid sector challenges and financial pressures on exporters and farmers.
Malawian billionaire Thom Mpinganjira’s FDH Bank stake drops $113 million
Malawian billionaire Thom Mpinganjira’s FDH Bank stake loses $113 million as shares slide 10 percent on Malawi Stock Exchange.
Kenyan tycoons in bitter court battle over SportPesa trademark
Kenya’s richest investors are battling in court for control of the SportPesa betting brand.
Kenyan tycoon John Kimani’s Kakuzi reports $2.3 million profit in first half, down 15%
Kenyan agribusiness Kakuzi sees weaker profit in H1 2025 despite surging turnover from macadamia and blueberry sales.
Kenyan tycoon David Langat finally pays Tanzanian tea farmers after several years
Kenyan businessman David Langat has started paying long-overdue debts to Tanzanian tea farmers, seven years after buying three major firms. His move signals a fresh start for the struggling industry.
Kenyan entrepreneur Chris Mwirigi’s betting firm renews $1.8 million sports sponsorship deal
Kenyan entrepreneur Chris Mwirigi’s Betika has renewed its $1.8 million deal with AFC Leopards, securing one of Kenyan football’s biggest sponsorships.
Tanzanian entrepreneur Benjamin Fernandes' NALA enters Kenya after $40 million funding
Tanzanian fintech NALA, led by Benjamin Fernandes, has entered Kenya with $40 million Series A backing, eyeing the $4.9 billion remittance market.
CIC Group, partly owned by Kenyan tycoon Gideon Muriuki, posts half-year profit under $5 million
CIC Group reports mixed H1 2025 results as profits fall below $5 million, with strong gains from investments and microinsurance growth.
Ugandan tycoon Emmanuel Katongole’s QCIL secures $2 million facility
The financing will help QCIL strengthen supply chains and widen the reach of its medicines.
NICO, led by Malawian tycoon Vizenge Kumwenda, announces $3.6 million dividend
NICO Holdings, led by Vizenge Kumwenda, declared a $3.6 million interim dividend as profit forecasts for H1 2025 more than double.
Meta joins Peter Ndegwa-led Safaricom on $23 million fiber project for East Africa
Meta teamed up with Safaricom to invest $23 million in an undersea cable linking Kenya to Oman, aiming to cut costs and boost internet access in East Africa.