Kenya’s Merali family sells 35-percent stake in Nairobi-based batteries distributor
While the aggregate consideration remains undisclosed, the Naushad Merali family received a premium above the market price.
East Africa
Owned by Kenya’s Mukuha family, Naivas rakes in $15.2-million profit in 9M 2023
The leadership of the Mukuha family has played a pivotal role in the company’s growth.
Swiss billionaire Gianluigi Aponte’s AGL wins contract to manage Zanzibar port
Aponte is the founder of MSC, the world’s largest shipping line and owner of Africa Global Logistics.
Algeria’s richest man Issad Rebrab arrested over foreign dealings
Rebrab was reportedly arrested on May 17 by agents of the Algerian Central Office for the Fight against Organized Crime.
Kenyan banker Gideon Muriuki’s Co-op Bank rakes in $44.4 million profit in Q1 2023
Under the leadership of Muriuki, Co-op Bank has fortified its position as a key player in the region.
Bank linked to Tanzanian billionaire brothers enters insurance market with new subsidiary
CRDB Bank linked to Tanzanian billionaire brothers has expanded into the insurance market with a new subsidiary.
Mauritian tycoon Hector Espitalier-Noel’s ENL reports stellar $33.9 million in profit
ENL Limited reports a stellar $33.9 million in profit, driven by robust revenue growth.
Kenyan tycoon Julius Mwale teams up in high-stakes $800-million Forbes acquisition
Mwale leads the historic Forbes acquisition, marking Africa’s rising influence in reshaping global perceptions.
Kenyatta family’s stake in NCBA Group suffers $11.26-million decline in 2023
The Kenyatta family’s equity holdings in NCBA Group see a $11.26-million decline as stock market volatility persists.
James Mwangi powers Equity Group to robust Q1 profits, exceeding $90 million
Equity Group Holdings reports impressive Q1 profits of $90 million.
Tanzanian billionaire Rostam Aziz to build $140-million solar project in Zanzibar
Aziz, one of Tanzania’s wealthiest men, has tentacles in telecoms, aviation, mining, real estate, and port management.
Chris Kirubi’s heirs suffer $1.44-million loss from stake in Kenya’s largest listed investment firm
The heirs of late Kenyan billionaire Chris Kirubi experience a significant decline in Centum Investment’s stake.
Malagasy tycoon Hassanein Hiridjee looks to acquire MTN assets
Hiridjee and his Axian Group have executed a few telecom deals in Africa in the last few years.
Kenyan banker Gideon Muriuki receives $2.1 million in remuneration in 2022
Muriuki has seen a 7.9-percent rise in compensation due to outstanding performance.
Kenyan manufacturing firm linked to 93-year-old tycoon loses $5.3-million tax dispute
The recent ruling means that Kaluworks must pay the demanded amounts for corporate tax and VAT.
Kenyan banking magnate Gideon Muriuki’s stake in Co-op Bank is now worth $11 million
Muriuki ranks among the wealthiest investors on the Nairobi Securities Exchange.