Tanzania moves to seize tea assets from Africa’s youngest billionaire Mo Dewji
Facing political and financial pressure, Tanzania moves to seize MeTL’s tea assets in a high-stakes showdown with Africa’s youngest billionaire.
East Africa
Kenyan investor Baloobhai Patel buys more Absa Bank shares worth $4.8 million
Kenyan investor Baloobhai Patel boosts Absa Bank stake by $4.8 million, increasing his holdings to 1.72 percent.
Ugandan multimillionaire Patrick Bitature gets temporary relief in $10 million loan fight
Uganda’s top court paused enforcement of a $10 million award against businessman Patrick Bitature, giving him temporary relief in his long-running loan dispute.
Malagasy tycoon Mamy Ravatomanga calls for calm during nationwide non-violence observances.
Madagascar tycoon Mamy Ravatomanga calls for calm, condemns looting and job losses during nationwide non-violence observances.
Elon Musk’s Starlink, Cisco boost Rwanda’s tech expansion
Starlink and Cisco team up with Rwanda to build a gateway, expand connectivity and train millions for the digital economy.
Kenyan tycoon TK Muya’s Family Bank plans Nairobi Stock Exchange listing
Kenyan tycoon TK Muya’s Family Bank plans NSE listing as shareholders meet to approve debut after decades of growth.
Kenyan billionaire Vimal Shah’s Bidco, Egyptian Swiss Group eye food market expansion
Vimal Shah’s Bidco Africa explores a partnership with Egyptian Swiss Group to expand food manufacturing and strengthen supply chains across East and Central Africa.
Mauritian tycoon Arnaud Lagesse’s IBL Group reports lower profit despite higher revenue
IBL Group, led by Arnaud Lagesse, reports $109.1 million profit, down 11%, as revenue climbs to $2.65 billion.
Kenya court orders businessman SK Macharia’s guards out of Directline office
Court rules SK Macharia violated orders, directing removal of guards from Directline’s Nairobi office amid leadership battle.
SportPesa investor Asenath Wacera back in spotlight amid renewed scrutiny
A viral blog thrusts SportPesa investor Asenath Wacera into view, reviving her early role as the widow of ex-Nairobi mayor Dick Wathika.
Tanzanian billionaire Mo Dewji’s foundation to train future leaders in food and nutrition
Mo Dewji Foundation teams with Kerry and universities to train young Africans as future leaders in food and nutrition.
Samuel Dossou-Aworet-backed Tullow sells Kenya assets to Gulf Energy
Tullow Oil has completed the $120 million sale of its Kenya assets to Gulf Energy, handing a local firm control of long-delayed oil hopes.
Tanzanian billionaire Rostam Aziz contests halt of $130 million Mombasa gas plant
Rostam Aziz fights suspension of $130 million gas plant in Mombasa as Taifa Gas pushes East Africa expansion.
Directline CEO petitions court to arrest Kenyan media mogul SK Macharia
Directline CEO Sammy Kanyi asks court to arrest tycoon SK Macharia over alleged boardroom takeover.
Uganda court battle puts Malagasy businessman Hassanein Hiridjee in spotlight
Malagasy businessman Hassanein Hiridjee faces a Uganda tower takeover dispute as AXIAN expands across Africa.
Salimo Abdula to support 15,000 youth in Mozambique
Salimo Abdula Foundation partners with FieldReady to train 15,000 Mozambican youth in entrepreneurship and business development.