Malawian billionaire Thom Mpinganjira’s FDH Bank stake drops $113 million
Malawian billionaire Thom Mpinganjira’s FDH Bank stake loses $113 million as shares slide 10 percent on Malawi Stock Exchange.
East Africa
Kenyan tycoons in bitter court battle over SportPesa trademark
Kenya’s richest investors are battling in court for control of the SportPesa betting brand.
Kenyan tycoon John Kimani’s Kakuzi reports $2.3 million profit in first half, down 15%
Kenyan agribusiness Kakuzi sees weaker profit in H1 2025 despite surging turnover from macadamia and blueberry sales.
Kenyan tycoon David Langat finally pays Tanzanian tea farmers after several years
Kenyan businessman David Langat has started paying long-overdue debts to Tanzanian tea farmers, seven years after buying three major firms. His move signals a fresh start for the struggling industry.
Kenyan entrepreneur Chris Mwirigi’s betting firm renews $1.8 million sports sponsorship deal
Kenyan entrepreneur Chris Mwirigi’s Betika has renewed its $1.8 million deal with AFC Leopards, securing one of Kenyan football’s biggest sponsorships.
Tanzanian entrepreneur Benjamin Fernandes' NALA enters Kenya after $40 million funding
Tanzanian fintech NALA, led by Benjamin Fernandes, has entered Kenya with $40 million Series A backing, eyeing the $4.9 billion remittance market.
CIC Group, partly owned by Kenyan tycoon Gideon Muriuki, posts half-year profit under $5 million
CIC Group reports mixed H1 2025 results as profits fall below $5 million, with strong gains from investments and microinsurance growth.
Ugandan tycoon Emmanuel Katongole’s QCIL secures $2 million facility
The financing will help QCIL strengthen supply chains and widen the reach of its medicines.
NICO, led by Malawian tycoon Vizenge Kumwenda, announces $3.6 million dividend
NICO Holdings, led by Vizenge Kumwenda, declared a $3.6 million interim dividend as profit forecasts for H1 2025 more than double.
Meta joins Peter Ndegwa-led Safaricom on $23 million fiber project for East Africa
Meta teamed up with Safaricom to invest $23 million in an undersea cable linking Kenya to Oman, aiming to cut costs and boost internet access in East Africa.
NCBA, backed by Kenya's richest families, posts $85.2 million H1 profit
NCBA, backed by Kenya’s richest families, posts $85.8 million H1 profit, driven by rising interest income despite lower deposits and total assets.
Britam, backed by Kenyan business leaders, to expand into Congo
Kenya's biggest publicly traded insurer is seeking acquisitions in Congo markets with low insurance penetration to boost growth and diversify revenue streams.
Billionaire Mo Dewji partners with Kym Rapier Foundation to deliver free eye care in Tanzania
Mo Dewji Foundation, led by Tanzanian billionaire Mohammed Dewji, and the Kym Rapier Foundation fund free cataract surgeries and eye camps across Tanzania.
Malagasy businessman Hassanein Hiridjee joins Jumia board after $110 million shareholding
By extending his reach into e-commerce, he is positioning Axian to play a central role in shaping the next phase of Africa’s digital retail industry.
Malawi gains second billionaire as Hitesh Anadkat’s stake in FMB tops $1 billion
Hitesh Anadkat becomes Malawi’s second billionaire as his FMB Capital stake surpasses $1 billion.
WPP Scangroup, founded by Kenyan tycoon Bharat Thakrar, set for layoffs amid half-year loss
WPP Scangroup, founded by Bharat Thakrar, is cutting jobs after posting a half-year loss amid weak demand and cash strain.