Hassanein Hiridjee pushes Axian deeper into finance with VIA Assurance launch in Madagascar
Axian chief Hassanein Hiridjee has launched VIA Assurance in Madagascar, betting that simpler products and faster service can grow a thin insurance market.
East Africa
UK court orders SportPesa co founder Paul Ndung’u to pay $2.9 million in costs as ownership fight drags on
A London judge ordered Paul Ndung’u to pay Sh374 million in interim costs after rejecting key claims in his SportPesa ownership dispute.
Kenyan businesswoman Mary Wambui fights hotel auction as bank looks to recover $62 million
Mary Wambui Mungai is fighting a planned auction of her Nairobi luxury hotel as Equity Bank pursues a disputed Sh8 billion debt.
Luxury hotel operator controlled by Mauritian Lagesse family posts $127 million half-year revenue
LUX Island Resorts posts $127 million half-year revenue as tourist arrivals boost occupancy and profits across Indian Ocean resorts.
Tanzanian billionaire Edha Nahdi's Amsons Group to inject $201.7 million into East Africa Portland Cement in bid to quadruple output
Amsons Group will inject Sh25.8bn ($201.7m) into East Africa Portland Cement, aiming to lift output to 4 million tonnes within three years.
Saudi-Ethiopian billionaire Mohammed Al Amoudi lines up $80 million IFC loan for Sheraton Addis refurbishment
IFC is weighing an $80m loan to refurbish Sheraton Addis, backing Mohammed Al Amoudi’s MIDROC as Ethiopia pushes conference tourism.
Kenyan businessman Ahmed Hashi's Hashi Energy loses bid to introduce new evidence in $55.7 million tax case
Kenyan fuel trader Hashi Energy lost a bid to add new evidence in its $55.7 million tax dispute with Kenya’s revenue authority.
Safaricom, led by Peter Ndegwa, wins central bank approval for 15% stake sale
Safaricom, led by Peter Ndegwa, wins CBK approval to sell 15% of government stake, raising $1.6 billion for Kenya’s treasury.
Ugandan billionaire Sudhir Ruparelia kicks off Kingdom Kampala expansion with 21-storey tower and helipad
Ugandan tycoon Sudhir Ruparelia is moving ahead with phase two of Kingdom Kampala, anchored by a 21-storey tower and rooftop helipad.
Tanzanian billionaire Rostam Aziz nears $130 million LPG terminal completion
This reflects a major step in his effort to expand LPG supply across East Africa while easing long-standing pressure on the region’s energy infrastructure.
$352 million NCBA stake held by two of Kenya’s richest families in focus after Nedbank bid
$352 million NCBA stake held by Kenya’s Kenyatta and Ndegwa families draws attention after Nedbank’s $856 million takeover offer.
Kenyan businessman Peter Muthoka sells his cargo handling company for $40.1 million
Kenya cleared Celebi’s purchase of a JKIA cargo handler in a $40.1 million deal that reshapes Nairobi’s freight business.
Nedbank offers $856 million for control of Kenya’s NCBA as big shareholders line up for payout
Nedbank offers $856 million for control of Kenya’s NCBA, signaling a regional banking shakeup and a likely payday for top shareholders.
Kenyan billionaire Rasik Kantaria's FMB Capital stake slips below $1 billion
Kenyan billionaire Rasik Kantaria sees FMB Capital stake fall below $1 billion after share gains cool.
Kenyan investor Baloobhai Patel buys additional Absa stake worth $1.3 million
Baloobhai Patel boosts his Absa Bank Kenya holding by $1.3 million, raising his stake to 100 million shares amid strong profits.
Co-op Bank Kenya CEO Gideon Muriuki acquires additional shares worth $1.2 million
Co-op Bank CEO Gideon Muriuki bought 5.5 million more shares worth Sh148 million, lifting his stake to 2.3% as dividends rise.