Multimillionaire tycoon Ravatomanga seeks relief after Madagascar freezes Sodiat accounts
Maminiaina Ravatomanga’s lawyers want Madagascar’s anti-graft court to allow limited payments after Sodiat-linked accounts were frozen in a laundering probe.
East Africa
Tanzanian tycoon Edha Nahdi's Bamburi Cement signs $250 million clinker plant deal in Kenya
Edha Nahdi’s Bamburi Cement signed a $250 million EPC deal with China’s Sinoma to build a 1.6m-tonne clinker plant on Kenya’s coast, manufacturing boost.
Kenyan businessman Paul Ndung’u faces $2.9 million repayment in SportPesa dispute
A London court ordered Kenyan businessman Paul Ndung’u to repay $2.9 million to former partners after losing a bid to reclaim a stake in SportPesa.
Kenyan entrepreneur Shilen Thakerar’s Crown Healthcare to build new pharma plant with $10 million
Kenyan entrepreneur Shilen Thakerar’s Crown Healthcare secured $10 million to build a local drug plant, boosting Kenya’s push to cut reliance.
Mombasa tycoon Mohamed Jaffer wins court payout over seized highway land
Court orders KeNHA and NLC to pay Mohamed Jaffer and Ashok Doshi for land taken during Mombasa-Nairobi highway expansion.
Naivas, majority-owned by Arnaud Lagesse’s IBL Group, opens its 112th branch in Nairobi
Naivas, backed by Arnaud Lagesse’s IBL Group, opens its 112th Nairobi store, expanding reach in fast-growing Mihango estate.
Credit Bank, led by Kenya’s wealthy Nyachae family, seeks approval for $35 million raise
Credit Bank, backed by Kenya’s Nyachae family, seeks shareholder approval for a $35 million capital raise to support growth and meet regulatory demands.
Ugandan steel tycoon Sikander Lalani exits Kenyan market in a move that rattles industry
Sikander Lalani’s sudden withdrawal from Kenya has unsettled Uganda’s steel market, raising fears of higher prices and tightening supply.
Credit Bank, owned by Kenya’s Nyachae family, acts on $15.5 million loan dispute
Kenya’s Credit Bank, owned by the Nyachae family, wins court approval to sell Upper Hill land over a $15.5 million loan dispute.
Malawi’s richest man Hitesh Anadkat loses $171 million from FMB Capital stake
Malawi’s richest man Hitesh Anadkat sees a $171 million drop in his FMB Capital stake as the bank’s shares retreat on the Malawi Stock Exchange.
Kenyan businessman Rasik Kantaria almost $900 million richer in 2025
Kenyan businessman Rasik Kantaria adds nearly $900 million to his fortune as FMB Capital shares soar over 500 percent in 2025.
Kenyan tycoon TK Muya’s Family Bank raises $61 million in oversubscribed share offer
Kenyan tycoon TK Muya’s Family Bank raised $61.8 million in an oversubscribed share offer, boosting capital to expand lending and support regional growth ambitions.
Ugandan businessman Ketan Morjaria's Credit Bank under fire after $8.7 million property auction
Kenya’s Credit Bank faces scrutiny after judges froze an $8.7 million land transfer, raising questions over how the lender handled its own property auction.
Kenyan banker James Mwangi gains $7.9 million from Equity Group stake
James Mwangi’s Equity Group stake gains $7.9 million as the Kenyan lender’s shares rally, lifting his holdings and confidence.
Kenyan tycoon Ronald Karauri’s SportPesa backs local boxing again
SportPesa, led by Ronald Karauri, renews support for Kenyan boxing, backing local fighters and grassroots programs after six years away.
Rasik Kantaria becomes Kenya’s first billionaire
Rasik Kantaria hits $1 billion as FMB Capital Holdings soars, marking a historic milestone in East Africa.