Pierre Guy Noel, iconic leader and former CEO of biggest bank in Mauritius, dies at 67
Noel’s passing comes over two years after his retirement as the CEO of MCB Group.
East Africa
Kenyan tycoon Andrew Ndegwa gains $2.2 million in 40 days
Ndegwa holds a sizable 4.63-percent stake in the leading lender, translating to 76,336,855 ordinary shares.
Kenyan businessman John Kimani loses $1.43 million from Kakuzi shares
As one of the leading investors on the Nairobi Securities Exchange, Kimani holds a significant 34.54 percent of Kakuzi, or 6,762,133 ordinary shares.
Malagasy tycoon Hassanein Hiridjee’s group secures $30-million facility for energy expansion
Under Hiridjee, AXIAN Group has become Madagascar’s leading energy producer.
Legal battles cast shadow over late Kenyan President Moi family’s vast estate
The extensive estate left by the late Kenyan President Daniel arap Moi, the nation’s second-largest landowner, is entangled in a series of legal battles.
Kenyan tycoon James Mwangi suffers $2.1-million loss from Equity Group stake
Mwangi owns a 3.38-percent stake in Equity Group, or 127,809,180 ordinary shares.
Kenyan tycoon Peter Njonjo takes timeout amid operational turmoil at Twiga Foods
Njonjo, in his remarks, mentioned that he would be focusing on personal matters during his leave.
Tanzania’s energy minister spearheads historic Petrodel-Octant oil exploration deal in Tanga block
Petrodel’s strategic partnership with Octant promises a new era of energy exploration in Tanzania, leveraging cutting-edge tech in the resource-rich Tanga Block.
Court rejects bid by late Kenyan multimillionaire’s son in Naivas share dispute
Naivas, founded by Peter Mukuha Kago, finds itself entangled in a legal dispute that adds complexity to its narrative amid ambitious expansion plans.
Cross-border payment firm led by Ugandan tech tycoon lays off employees again
Since its inception nearly five years ago, Chipper Cash has raised $300 million in venture capital funding, securing a valuation of $2.2 billion.
Ugandan tycoon Patrick Bitature and Absa Bank clash over $13.6-million loan
The growing number of legal disputes surrounding Bitature has raised concerns about his financial standing.
Startup led by Nairobi-based entrepreneur secures $5-million funding from UK gov’t
BasiGo has secured $5 million in debt funding from British International Investment.
Tanzanian multimillionaire Said Bakhresa set to invest $100 million in Malawi
Bakhresa’s planned investment holds immense significance in enhancing Malawi’s self-sufficiency in cooking oil production.
Kenyan tycoon James Mwangi-led lender grows stronger with $47-million Cogebanque deal
The move aligns with its strategy to bolster earnings and revenue by expanding its reach across East Africa.
Wealthy Kenyan tycoon Andrew Ndegwa gains $2 million in 19 days
This recent surge solidifies Ndegwa’s position as one of Kenya’s wealthiest investors.
5 companies owned by one of Kenya’s richest individuals, James Mwangi
Under Mwangi’s leadership, Equity Group evolved into an integrated financial services group with active operations spanning six African countries.