Tanzanian billionaire Rostam Aziz to invest $500 million in Zambia’s energy sector
Rostam Aziz’s Taifa Group plans to invest over $500 million in Zambia, targeting gas, solar power and mining to ease energy gaps.
East Africa
Three billionaires emerge on Malawi Stock Exchange in 2025
Three billionaires emerged on the Malawi Stock Exchange in 2025 after banking stocks surged and long-held stakes crossed the billion-dollar mark.
Tanzanian billionaire Rostam Aziz clears legal hurdle for Mombasa LPG terminal
Rostam Aziz clears legal hurdle for $130.5 million Mombasa LPG terminal, boosting Kenya's regional energy supply.
Kenyan businessman Julius Mwale halts contractor payment with deposit
Kenyan businessman Julius Mwale pauses contractor payment with $132,400 deposit while appealing a road dispute at MMTC.
Malawian businessman Napoleon Dzombe to launch Dowa fertilizer plant in 2026
Napoleon Dzombe’s Dowa fertilizer plant set for April 2026 launch, aiming to meet Malawi’s national fertilizer demand and cut imports.
Ugandan investor Magan Patel risks 12-year jail term over wetland destruction
Ugandan investor Magan Patel faces possible 12-year jail term as probes deepen into alleged wetland destruction in Jinja.
Family feud over Kenyan tycoon Stanley Githunguri’s estate reaches court
Kenyan tycoon Stanley Githunguri’s family court battle over multi-billion shilling estate exposes deep divisions in Nairobi.
Ugandan businessman Mukesh Shukla fined $3.9 million over Kampala property
Ugandan tycoon Mukesh Shukla fined $3.9 million for illegally occupying Shumuk House, ending the decade-long Katatumba family dispute.
Credit Bank, led by Kenya’s Nyachae family, wins $35 million shareholder backing
Credit Bank, led by the Nyachae family, gains shareholder approval to raise Ksh4.5 billion ($35 million) through a rights issue.
Kenyatta family, Kenya’s largest landowner, gains $11 million from NCBA stake
NCBA shares rebound on the NSE, lifting the Kenyatta family’s stake by $11 million as investor interest returns.
Malagasy tycoon Hassanein Hiridjee sees telecom as Africa’s AI backbone
Hassanein Hiridjee sees telecom networks as Africa’s AI backbone, driving growth through data centers and regional expansion.
Malawian billionaire Thom Mpinganjira's FDH Bank projects $87 million profit
Malawian billionaire Thom Mpinganjira’s FDH Bank forecasts up to $87 million profit in 2025, driven by credit growth, deposits and regional expansion.
James Mwangi-led Equity Bank gets $60 million AfDB trade finance guarantee
Equity Bank Kenya has secured a $60 million AfDB trade finance guarantee, boosting support for SMEs and easing risk in cross-border trade across Africa.
Kenyan billionaire Narendra Raval breaks ground on $500 million steel plant in Uganda
Devki’s $500 million Tororo steel plant, launched by Museveni and Ruto, aims for 15,000 jobs and a million tonnes a year.
Kenyan billionaires Abu Joho, Mohammed Jaffer pulled into defamation case over port rivalry
A defamation trial over a WhatsApp letter accusing Abu Joho of drug trafficking has raised allegations about Mohammed Jaffer, still unproven.
Tanzanian tycoons Ally Edha Awadh and Rostam Aziz grow Kenya's LPG presence
Tanzanian tycoons Ally Edha Awadh and Rostam Aziz grow Kenya’s LPG sector after courts approve Lake Gas and Taifa Gas projects.