Malagasy tycoon Hassanein Hiridjee’s AXIAN joins Mastercard to boost Africa payments
AXIAN and Mastercard team up to deliver safer digital payments and boost financial inclusion in Africa.
East Africa
Kenya turns to China for $1.5 billion after Nigerian businessman Tony Elumelu’s $1 billion pledge
Kenya moves ahead with a $1.5 billion highway deal after Tony Elumelu’s $1 billion pledge to support new infrastructure projects.
Madagascar tycoon Mamy Ravatomanga detained in Mauritius over financial fraud
As Mamy Ravatomanga wakes up behind bars in Mauritius, a looming court hearing could shift his fight from VIP custody to tougher ground.
Centum, backed by Kenya’s Kirubi family, posts $2.5 million half-year loss
Centum reported a $2.52 million loss for the half-year ended Sept. 30, 2025, as weaker sales and uneven economic conditions weighed on performance.
Late Kenyan poultry tycoon Nelson Muguku’s family in court fight over grandchildren’s upkeep
Years after chicken mogul Nelson Muguku died, his ex-daughter-in-law is in court demanding the family trust fully support two grandchildren.
Kenyan tycoon Paul Wanderi Ndung'u loses big as London court clears SportPesa, slaps him with $2.9 million bill
London’s High Court tossed out Paul Wanderi Ndungu’s fraud case over SportPesa shares and slapped him with a Sh375 million costs bill.
Inside Hassanein Hiridjee’s $1.8 billion bid to turn Axian into an African telecom giant
From Tanzania’s mobile networks to Kenyan fibre and a new digibank push, Axian is Hiridjee’s vehicle for a continent-wide telecom land grab.
Tanzanian tycoon Edha Nahdi acquires stake in East African Portland Cement for $12 million
Tanzanian tycoon Edha Nahdi’s Kalahari Cement moves to buy NSSF’s Sh1.6 billion stake in East African Portland, tightening its grip on Kenya’s cement market.
Safaricom, led by Peter Ndegwa, launches $115.6 million tax-free green bond
Safaricom launches a $115.6 million tax-free green bond to support environmental projects and deepen its sustainability drive.
Kenyan businessman Muhoho Kenyatta returns to NCBA board amid buyout talks
Muhoho Kenyatta rejoins NCBA as a non-executive director amid ongoing Standard Bank buyout talks shaping Kenya’s banking industry.
Kenyatta family, Kenya’s largest landowners, loses $20 million from NCBA stake
Kenyatta family records a $20 million loss on its NCBA holdings as the bank’s share price slips on the Nairobi Securities Exchange.
Malagasy tycoon Hassanein Hiridjee’s AXIAN rebrands fintech unit to expand digital banking across Africa
AXIAN rebrands fintech unit to Digibank & Fintech, expanding mobile money and digital banking across six African countries.
Kenya’s Paramount Bank hits $24 million as Jim Ovia’s Zenith Bank plans buy
Kenya’s Paramount Bank raises capital to $24 million as Jim Ovia’s Zenith Bank plans a strategic acquisition.
Africa’s youngest billionaire Mo Dewji secures $24.6 million to expand Tanzania’s agro-industry
Mo Dewji’s MeTL secures $24.6 million to expand Tanzania’s agro-industry, creating 1,400 jobs and boosting exports and rural incomes.
NCBA, backed by Kenya’s wealthiest families, faces $3 million tax blow
NCBA faces a $3 million tax setback after a Kenyan court upheld a ruling voiding its 2019 stamp duty waiver, clearing the way for KRA to seek payment.
Kenyan billionaire Narendra Raval unveils $550 million steel plant in Uganda
Kenyan billionaire Narendra Raval launches a $550 million steel plant in Uganda, expanding Devki Group’s regional footprint.