Absa adds $3.2 million to Kenyan businessman Baloobhai Patel’s portfolio gains in 2024
His portfolio benefited from a rise in the bank's share price on the Nairobi bourse and the strengthening of the Kenyan shilling against the U.S. dollar.
East Africa
MTN Uganda secures $100 million loan for network expansion, corporate purposes
The financing demonstrates MTN Uganda’s strong financial position and commitment to advancing digital and financial inclusion.
Kenyan investment banker Jimnah Mbaru gains $1.8 million in 2024
Since the start of the year, his stake has gained Ksh118.3 million ($1.77 million), benefiting from the strong performance on the Nairobi Securities Exchange (NSE).
Supermatch maker, Mastermind Tobacco, to auction assets as debt mounts
The firm, known for its flagship Supermatch cigarette brand faces final blow amid mounting financial pressures.
Safaricom plans to insure millions of mobile users to increase revenue
Safaricom’s entry into mobile phone insurance is part of its ongoing efforts to expand financial services across East Africa.
Holcim sells $100 million stake in Bamburi Cement to Tanzania’s Amsons Group
The move follows Amsons’ earlier purchase of an 18 percent stake in Bamburi Cement for $70 million after receiving regulatory approval.
Suresh Bhagwanji Shah’s stake in I&M Group gains $23 million year-to-date
This strategic move brings together two powerhouse entities and marks a significant step toward consolidating Black-led financial influence.
Bakhresa invests $8.4 million to expand juice production capacity
Tanzania’s Bakhresa Group doubles down on fruit juice production, boosting agriculture and exports.
Amsons Group acquires $70 million stake in Bamburi Cement, eyes full buyout
The move is part of Amsons’ strategy to consolidate its presence in East Africa’s construction sector.
Meet Jane Karuku: Top executive leading Kenya’s $1 billion brewery giant
Karuku champions innovation and sustainability, advocating for gender diversity and youth empowerment in East Africa's corporate landscape.
Devki Group launches $84.7-million iron ore pelletization plant, targets 14,000 jobs in Kenya
Devki Group’s $84.7-million iron ore plant in Kenya promises to create 14,000 jobs, strengthen local mining, and drive the country’s industrial growth.
Raya Holding secures $25 million investment to build advanced tier III data center in Egypt
Raya Holding has secured $25 million in funding to build a cutting-edge Tier III data center in Egypt, marking a key step in the country’s digital transformation and regional tech hub ambitions.
Sanlam Kenya shareholders approve $25.1 million rights issue to boost capital
This move aligns with the company’s broader strategy to improve its financial standing and long-term stability.
Ham Serunjogi: The fintech trailblazer transforming African payments
The visionary CEO of Chipper Cash is driving financial inclusion and reshaping Africa's payment landscape.
Meet Michelle Kilpin: First female MD of Tanzania’s biggest listed company
Kilpin’s career, which spans over two decades, is a testament to her unwavering commitment and exceptional leadership.
Samih Sawiris acquires $400-million Moroccan tourism project, expands influence in North Africa
Billionaire Sawiris-led consortium to develop Essaouira Mogador with new hotels, resorts, and residential complexes.