Kenyan industrialist and Pwani Oil founder, Naresh Malde, dies at 74
Naresh Malde, the Kenyan industrialist who built Pwani Oil into one of East Africa’s most trusted homegrown brands, has died in Mombasa at 74.
East Africa
Kenyan real estate giant Lloyd Masika, Stanbic probed over suspicious valuation
Kenyan real-estate tycoon David Masika finds his firm Lloyd Masika Limited in legal limbo after a recent case exposed major valuation discrepancies and raises questions about due-diligence practices.
Kenyan tycoon TK Muya’s Family Bank secures nod to list in 2026
Family Bank, founded by Kenyan tycoon TK Muya, has secured shareholder approval to list on the Nairobi Securities Exchange in 2026.
Uganda's richest man Sudhir Ruparelia funds 100 scholarships in memory of late son
Ugandan businessman Sudhir Ruparelia and his wife, Jyotsna, launched 100 full scholarships at Victoria University under a bursary named for their late son, Rajiv, marking one of the largest single-year awards in the school’s history.
One of Kenya’s richest men, Jimi Wanjigi, urges end to boarding schools
Businessman and political figure Jimi Wanjigi says Kenya should phase out boarding schools, citing “traumatic” experiences for students and arguing the system must evolve. He backs a day-school approach aligned with ongoing education reforms.
Absa, led by Kenny Fihla, to acquire Standard Chartered Uganda’s retail, wealth business
Absa Bank Uganda, an arm of the banking group led by Kenny Fihla, will acquire Standard Chartered’s retail and wealth units to boost its footprint and retail reach in East Africa.
Madagascar business magnate Mamy Ravamatoga arrested in Mauritius
Mauritius detains Madagascar business magnate Mamy Ravatomanga over suspected money laundering and Boeing jet transfer to Iran.
Indian billionaire Sunil Bharti Mittal’s Airtel Africa eyes AI, data centers to drive growth
Sunil Bharti Mittal’s Airtel Africa targets partnerships, AI, and data centers to strengthen the continent’s digital economy.
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.
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.