Malawian businessman Thom Mpinganjira’s FDH Bank agrees to buy Ecobank Mozambique
Custodian Investment reports $81.4 million revenue, $17.3 million profit, and $299 million in assets for the first half of 2025.
East Africa
Tanzanian billionaire Rostam Aziz urges government to prioritize local investors in national projects
Rostam Aziz urges Tanzania to prioritize local investors over foreign capital to strengthen economic self-reliance and build domestic industrial capacity.
Kenyatta family took in up to $22 million in 2022 from Nairobi Expressway build
The Kenyatta family earned up to $22 million in 2022 from land and sand deals during the $682 million Nairobi Expressway construction, records show.
Kenyan court dismisses suit against Tanzanian billionaire Rostam Aziz’s $130 million gas plant
Kenyan court clears Tanzanian billionaire Rostam Aziz’s $130.5 million LPG terminal project, opening the way for expanded energy access in East Africa.
Malawian businessman Thom Mpinganjira’s stake in FDH Bank tops $840 million
FDH Bank stock climbs 255% YTD, boosting Mpinganjira’s stake to $842 million and lifting the bank's market cap past $2 billion.
Safaricom, led by Peter Ndegwa, to pay $372 million in dividends to shareholders
Safaricom, led by Peter Ndegwa, declared a $372.6 million dividend after surpassing $3 billion in revenue, marking its third straight strong payout.
I&M Group, founded by Suresh Bhagwanji Shah, expands reach with new Mount Kenya branch
I&M expands in Kenya’s Mount Kenya region with eco-branch, boosting inclusive banking and regional investment.
Ugandan tycoon Charles Mbire-led MTN Uganda unveils fintech spin-off
MTN Uganda will spin off its mobile money unit into a standalone fintech firm, aiming for IPO and long-term growth in East Africa's digital economy.
Kenyan businessman Peter Munga faces eviction from 75-acre property
Court orders Peter Munga to vacate 75-acre school land after Del Monte wins a long-standing lease dispute.
Tanzania’s first dollar billionaire, Rostam Aziz, proposes $100 million youth talent fund
Rostam Aziz calls for $100 million youth talent fund and education reforms as he expands Taifa Gas with a $1.9 billion facility in Kenya.
Kenyan banker James Mwangi confirms Equity Group’s first UAE branch coming by end of 2025
Equity Group targets UAE expansion by Q4 2025 as part of a broader push to deepen Africa–Middle East trade and investment ties.
Kenyan tycoon Narendra Raval faces tax blow as cement empire comes under fire
Auditor-General Nancy Gathungu has warned that granting tax waivers without a proper legal basis could open the floodgates to abuse.
Kenyan tycoon Peter Munga partners with Nairobi expressway developer
Kenyan tycoon Peter Munga teams up with U.S.-based Everstrong Capital in $3.62-billion toll road project, marking a new chapter in his business empire.
Family of Kenya's longest-serving spy chief wins $77 million land battle
Kenyan court restores $77 million estate to Kanyotu family, voids fraudulent sale of 500-acre land in Ruiru after forged documents exposed.
Kenyan executive Peter Ndegwa pockets $2.3 million salary from Safaricom
Kenyan CEO Peter Ndegwa received $2.3 million from Safaricom, reflecting growth in share-based awards despite profit declines.
Tanzanian billionaire Said Bakhresa opens $100 million soya plant in Malawi
$100 million plant to process 500 tons of soya daily, boost Malawi’s agriculture, and reduce reliance on imported cooking oil.