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.
East Africa
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.
Kenyan businessman Suresh Bhagwanji Shah set for $2 million I&M dividend
Kenyan businessman Suresh Bhagwanji Shah is set to earn $2.06 million after I&M Bank declared a stronger interim dividend.
Mauritius-based investor Peter McAllister Todd’s Afine stake falls $3 million
Peter McAllister Todd’s Afine stake drops $3.2 million as the small-cap property firm faces a sharp slide on the Johannesburg Stock Exchange.
Kampala-based entrepreneur Agnes Aistleitner Kisuule's First Circle Capital secures $6 million
Agnes Aistleitner Kisuule’s First Circle Capital raises $6 million to support African fintech founders.
Kenyan tycoon Peter Munga in $30 billion coal dispute with Chinese investors
The rights to Kitui's Mui Basin coal blocks are the subject of a $30 billion coal dispute between Kenyan tycoon Peter Munga and Chinese investors.
Sankei Ole Kenga's Enkisoma lands $9.3 million to widen access to Kenya’s private schools
Enkisoma Africa and MyCredit are funding digital labs for 150 Kenyan schools, offering financing and full support to ease adoption.
Tanzanian billionaire Rostam Aziz cleared to build $124 million Mombasa LPG terminal
Kenya clears Rostam Aziz’s $124 million LPG terminal, paving the way for construction and new competition in Mombasa’s energy market.
Kenyan businessman Paul Ndung’u challenges SportPesa trademark transfer in new court fight
Paul Ndung’u returns to court, challenging the transfer of the SportPesa trademark and accusing former partners of arranging a fraudulent deal.
Kenyan tycoon Gideon Muriuki-led Co-op Bank to pay $45 million interim dividend
Co-op Bank, led by CEO Gideon Muriuki, plans a $45.4 million interim dividend after stronger nine-month earnings and rising assets across its network.
Mohamed Jaffer’s Bulkstream holds wheat over $1.1 million fees in Mombasa dispute
Bulkstream retains 1,514 tonnes of wheat in Mombasa over $1.1 million unpaid fees amid legal dispute with Ugandan importer.
Nigerian tycoon Tony Elumelu commits $1 billion to Kenya infrastructure
Nigerian tycoon Tony Elumelu commits $1 billion to Kenya’s infrastructure projects after meeting President William Ruto.
Naivas, controlled by Mauritian tycoon Arnaud Lagesse-led IBL, posts $19 million profit
Naivas, Kenya’s biggest retailer now led by Mauritius-based IBL Group, posted a 43% profit jump to $19 million in 2025 despite economic headwinds.
Kenyan banker James Mwangi-led Equity Group nine-month profit rises to $420 million
The solid performance reinforces the lender’s position among Africa’s most profitable financial services groups.