Kenyan tycoon SK Macharia fires staff in office raid, ignoring court rulings
Samuel Kamau Macharia entered Directline Assurance offices, dismissed staff, and ignored court rulings, prompting police and regulatory investigations.
East Africa
John Kimani, one of Kenya’s richest men, boosts Centum stake to $8.2 million
Kenyan tycoon John Kimani raises his Centum stake to $8.2 million, strengthening his influence in Nairobi’s investment scene.
Aga Khan Fund restructures $9.3 million stake in Kenya's Nation Media Group
Aga Khan Fund reorganized its $9.3 million stake in Nation Media Group into a new unit, consolidating control as the publisher faces financial strain and industry shifts.
Judge delays ruling in $116 million land case involving Mombasa businessman Mohamed Jaffer
Mombasa businessman Mohamed Jaffer faces further delays in the $116 million Mayport Limited land dispute as court sets new judgment date for Oct. 17.
Malawi billionaire Hitesh Anadkat’s FMB stake tops $1.2 billion
Malawian billionaire Hitesh Anadkat’s FMB stake climbs to $1.22 billion amid regional banking growth.
Tanzanian billionaire Rostam Aziz’s $100 million gas plant in Kenya halted by court freeze
A Kenyan court has kept a freeze on Rostam Aziz’s Taifa Gas project, stalling the billionaire’s bid to transform East Africa’s LPG market.
Tanzanian tycoon Edhah Abdallah Munif hits roadblock in Kenya's Portland cement deal
Kenyan lawmakers stopped Tanzanian billionaire Edhah Abdallah Munif from buying Portland Cement shares at half price, citing undervaluation and foreign control concerns.
Ugandan lawyer William Byaruhanga buys $8 million stake in Kenya’s Sidian Bank
William Byaruhanga buys $8 million stake in Sidian Bank, ranking as the fourth-largest shareholder in the Kenyan lender.
Kenyan tycoon John Kimani-linked Kakuzi teams up with government to boost agribusiness
Kakuzi, partly owned by tycoon John Kimani, partners with Siaya County to boost avocado and macadamia farming, aiming to lift rural incomes.
Kenyan President Ruto’s family-linked Insurer now dominates 'Matatu' Market
Amaco, part-owned by President William Ruto’s family, has leapfrogged SK Macharia’s Directline to become Kenya’s biggest matatu insurer, upending the country’s public transport insurance business.
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
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.