Kenyan tycoon Baloobhai Patel boosts bank holdings with 5 million shares in Absa Kenya
Patel’s stake in Absa Bank Kenya has risen from 42.5 million shares to 47.5 million shares.
East Africa
Late Kenyan tycoon Naushad Merali’s family’s stake in Sasini Tea surpasses $30-million mark
With their remarkable gains in the stock market and increased profitability, the Merali family continues strengthening their financial standing.
Tanzanian billionaire Rostam Aziz unveils $100-million deal for Zambia’s first LPG facility
In collaboration with Delta Marimba, Aziz’s Taifa Gas will establish Zambia’s first LPG plant in the northern part of the country.
Kenyan mogul Myke Rabar’s Homeboyz to divest 30-percent stake
Established in 1995 as a DJ outfit by Rabar, Homeboyz has become a prominent player in the entertainment scene in Kenya.
Tanzanian billionaire Mohammed Dewji wins Industrialist of the Year Award
Dewji was named “Industrialist of the Year” at the All Africa Business Leaders Awards annual gala in South Africa on Friday.
Centum, controlled by heirs of late Kenyan tycoon Chris Kirubi halts plans to dilute stake in Two Rivers unit
Centum Investment Plc is controlled by Robert Kirubi and Mary-Ann Musangi, heirs to the late tycoon Chris Kirubi’s business empire
Kenyan tycoon James Mwangi’s Equity Group to invest $5.7 million in insurance business
Under James Mwangi, who holds a 3.38-percent stake in the company, Equity Group witnessed a 15 percent increase in profits in 2022
Centum, led by heirs of late Kenyan tycoon Chris Kirubi, secures SEZ license for Two Rivers development
Centum Investment, Kenya’s largest publicly traded investment firm is partly owned by Robert Kirubi and Mary-Ann Musangi.
Tanzanian gold magnate Ketan Patel loses $2.3-million on paper as Shanta Gold shares plunge
As the founder of the Tanzania-based mining company, Patel currently holds a 4.22-percent stake in Shanta Gold.
Kenyan tycoon Jimnah Mbaru sells millions in shares, shakes up Britam ownership
While Mbaru’s recent transaction has reduced his stake in Britam, he remains the company’s largest individual shareholder.
Kenyan tycoon Narendra Raval’s Devki Group accelerates production to meet surging demand
Raval, the chairman of Devki Group, attributed the surge in orders to competitive pricing and innovative production methods.
Kenyan banker Gideon Muriuki’s Co-op Bank adds over 500 jobs, bolstering expansion in Kenya
Under the leadership of Muriuki, Co-op Bank’s 2022 annual report revealed an impressive financial performance.
Kenyan tycoon Narendra Raval secures victory in billion-dollar cement industry lawsuit
Kenyan tycoon Narendra Raval secures victory in billion-dollar cement industry lawsuit.
Kenya’s Moi family-linked Sosian Energy electrifies national grid, paving way for power stability
Kenya’s Moi family is Kenya’s second-largest landowner after the Kenyatta family.
Tanzanian billionaires Aunali and Sajjad Rajabali lose $2.8 million as CRDB bank shares plummet
Despite this setback, the Tanzanian billionaire brothers remain among the wealthiest investors on the Dar es Salaam Stock Exchange.
James Mwangi’s Equity Group set to acquire Rwandan bank for $48.2 million
Under the leadership of James Mwangi, who owns a 3.38-percent stake in the company, Equity Group saw a 15 percent increase in profit in 2022