Kenyan banker James Mwangi gains $3 million from Equity Group stake
Mwangi’s stake in Equity Group has hit the $30-million milestone.
East Africa
Kenyan tycoon Narendra Raval takes over Rwandan cement giant in $84-million deal
Devki Group Founder and Chairman Narendra Raval announced the completion of the acquisition, expressing enthusiasm about the prospects it holds for both countries.
Kenyan tycoon John Kimani acquires 8.64 million shares in East Africa’s largest telecom firm
The businessman’s increased stake further solidifies his position as one of the leading investors on the Nairobi Securities Exchange.
Ugandan businessman Patrick Bitature faces prosecution over $26-million fraud
If found guilty, the 60-year-old Ugandan businessman and his 56-year-old wife could face severe legal consequences.
Africa’s youngest billionaire Mohammed Dewji makes $300 million in just 25 days
This rapid increase in Dewji’s wealth is attributed to the revaluation of his stake in MeTL Group, a conglomerate with an extensive portfolio spanning over 150 products.
Kenyan tycoon Peter Njonjo’s Twiga Foods settles debt dispute with Google Cloud reseller
The conflict between the two companies began in September 2023 when Google Cloud Services provider Incentro Africa filed a lawsuit against Twiga Foods.
Kenya’s Merali family gains nearly $1.2 million from Sasini Tea stake in 19 days
With a majority stake of 65.46 percent, Kenya’s Merali family holds the largest share in Sasini Tea.
Kenyan billionaire Baloobhai Patel boosts stake in Co-op Bank with $1.43-million investment
This further solidifies Patel’s commitment to Co-op Bank, as he navigates the challenging market conditions marked by a bear run that has undervalued many banking stocks.
Kenyan tycoon Suresh Bhagwanji Shah’s I&M Bank launches eight new branches
The newly unveiled branches bring the total I&M Group branch network to 93 in the region. Out of these, 49 are strategically positioned throughout Kenya.
Kenyan tycoon Peter Njonjo resigns from Twiga Foods board after extended leave
Njonjo has officially resigned from the board of the leading agritech firm, marking the end of an era.
Kenyan tycoon James Mwangi leads Cogebanque into merger with Equity Bank Rwanda
Equity Group envisions expanding opportunities for wealth creation while upholding the highest standards of service excellence, innovation, and financial inclusion.
Kenyan Ndegwa family-linked ILAM Fahari continues NSE trading amid pending delisting
Last August, ICEA Lion Asset Management, controlled by the heirs of the late Kenyan banking magnate Philip Ndegwa, extended a buyout offer totaling $2.77 million.
Kenyan multimillionaire banker James Mwangi faces $19.2-million loss in 2023
This follows the financial setback he experienced in 2022 when Equity Group shares dropped significantly with Mwangi’s stake in the lender declining by $13 million.
10 companies linked to Mauritian tycoon Arnaud Lagesse
From leading Mauritius’ largest conglomerate, IBL Group, to investments in Kenya’s retail sector through Naivas International.
7 companies linked to late Mauritian tycoon Pierre Guy Noel
Explore his influential connections to seven key companies, ranging from MCB Capital Markets to the Blue Penny Museum.
Malagasy tycoon Hassanein Hiridjee’s AXIAN Telecom secures 5G license for Free in Senegal
The development follows AXIAN Telecom’s strategic move in July 2023, where the company, led by Hiridjee, increased its stake in Free in Senegal to 80 percent.