CRDB Bank, led by Abdulmajid Nsekela, secures $120 million to support East Africa’s entrepreneurs
Led by Abdulmajid Nsekela, CRDB Bank raises $120 million from FinDev Canada, DEG, and Shelter Afrique to boost women, youth, and small businesses.
East Africa
NBA champion Masai Ujiri partners with Hilton to open first Rwanda hotel
Hilton has signed three new Tapestry Collection hotels across Sub-Saharan Africa, including a Kigali property by Masai Ujiri’s Zaria Group.
NCBA, backed by Kenya's richest families, unveils $6 million digital banking
NCBA unveils a $6 million digital platform with Intellect Global to enhance corporate banking and expand its digital reach in Kenya.
Desterio Oyatsi, the Kenyan lawyer with a $14 million stake in NCBA Group
Kenyan lawyer Desterio Oyatsi’s $14 million NCBA stake highlights his decades of influence in law and business.
Kenyan tycoon Narendra Raval's Devki Steel among firms fined $2.2 million
Kenya’s Competition Tribunal has upheld a $2.2 million fine against Narendra Raval’s Devki Steel and six other firms for alleged price-fixing and import restrictions.
James Mwangi-led Equity Group backs Kenyan farmers with tractor financing
Equity Bank joins Inchcape to finance up to 95% of tractor costs, empowering Kenyan farmers and strengthening food security.
IFC backs Hassanein Hiridjee’s AXIAN with $62.5 million for Wananchi deal
IFC has committed $62.5 million to support Hassanein Hiridjee’s AXIAN Telecom in acquiring East African pay-TV and broadband provider Wananchi Group.
Kenyan investor Baloobhai Patel’s Absa Bank shares rise to $15.9 million
Baloobhai Patel grows his Absa Bank Kenya stake to $15.9 million, deepening his influence in the lender.
Raila Odinga’s quiet business empire: energy, real estate and strategic stakes
Odinga’s passing throws fresh attention on a low-profile business empire built around energy, manufacturing and family-run holding structures.
Malagasy tycoon Hassanein Hiridjee’s AXIAN Energy backs $58 million solar project in Ivory Coast
Hassanein Hiridjee’s AXIAN Energy backs a $58 million solar project in Ivory Coast to boost renewable power access.
CIC Group, backed by Kenyan tycoon Gideon Muriuki, unveils dollar fund giving investors access to global markets
CIC Group, backed by Kenyan tycoon Gideon Muriuki, launches a dollar-based balanced fund to expand access to global investment opportunities.
Ugandan tycoon Emmanuel Katongole’s QCIL unveils new drug factory in Kampala
QCIL, chaired by Ugandan tycoon Emmanuel Katongole, has unveiled a new factory in Kampala, boosting Africa’s drug output and regional health self-reliance.
Kenyatta family’s NCBA in takeover talks with Standard Bank
The Kenyatta family’s NCBA Group may be on the verge of a takeover by Standard Bank, signaling a shift in Kenya’s financial power.
Inside the secretive succession of Rwandan tobacco billionaire Tribert Rujugiro’s empire
When Tribert Rujugiro Ayabatwa died in Dubai in April 2024, he left more than a fortune. From Uganda to Angola, his Pan-African tobacco empire—built on power, politics, and secrecy—passed to his heirs. The story of one of Africa’s most elusive fortunes enters a new chapter.
Kenyan billionaire Humphrey Kariuki named IUCN Patron of Nature in Abu Dhabi
Businessman and conservation advocate Humphrey Kariuki becomes the first African named a Patron of Nature by IUCN, cementing his role in global biodiversity efforts.
Kenyan tycoon Peter Munga wins 14-year battle over TransCentury shares
Kenyan tycoon Peter Munga wins court case over a Ksh150 million ($1.2 million) TransCentury share dispute, ending a 14-year legal battle.