KRA pursues $12.5-million tax claim against Kenya’s Mukuha family
The KRA’s demand is linked to a 31.5-percent stake sale in Naivas International in 2020 by members of the Mukuha family.
East Africa
Nigerian banker Herbert Wigwe’s Access Holdings pours $7 million into Kenyan unit
Earlier this year, under Wigwe’s leadership, Access Holdings pledged a substantial $300-million capital investment to its flagship subsidiary.
Kenyan tycoon Edward Kirathe’s Acorn plans expansion for student hostels in Nairobi
Kirathe’s influence in Kenya’s real estate sector spans 25 years, making him a prominent figure in the East African real estate domain.
Britam, partly owned by Kenyan magnates, taps Airtel to expand insurance reach
Leading Kenyan billionaires such as Mbaru, Munga, and Mwangi hold significant stakes within the conglomerate.
Mauritian Espitalier-Noel family suffers $9-million loss from ENL stake
With their stake now worth more than $45 million, the affluent Mauritian Espitalier-Noel family ranks among the richest families in Mauritius.
Ugandan tycoon Charles Mbire suffers $2.4-million loss from MTN Uganda stake
The market value of Mbire’s 3.99-percent stake in MTN Uganda has declined $43.89 million on Jan. 1 to $41.45 million.
Kenyan tycoon Ahmed Hashi’s Hashi Energy set for auction over $35-million debt
Founded in 1991 by Hashi and his wife, Fatuma, Hashi Energy’s operations have expanded significantly over the past three decades.
Kenyan tycoon Narendra Raval backs Finance Act to boost local manufacturing
Raval’s endorsement underscores the potential for the legislation to revitalize Kenya’s manufacturing landscape.
Genocide survivors target $50-million estate of Rwandan mogul Felicien Kabuga
The group is seeking to freeze Kabuga’s properties, estimated to be worth $50 million at the time of his arrest in Paris in 2020.
Aga Khan IV gains nearly $8 million from shares in Nairobi-based insurer
Aside from his interest in Jubilee Holdings, Aga Khan IV, also known as Mawlana Hazar Imam, owns a 48.67-percent stake in Nation Media Group.
Firm owned by Kenya’s Merali family to settle debts with $6.3-million land sale proceeds
The Merali family, overseeing the estate of the late tycoon Naushad Merali, commands a 74-percent stake in Sameer Africa.
Kenya’s Biwott family sells Yaya Center in multimillion-dollar deal
The late Nicholas Biwott was part of a generation of public servants who ventured into various businesses, impacting Kenya’s economy.
Ugandan tycoon Charles Mbire’s MTN Uganda posts more than $60-million profit in H1 2023
Holding a 3.99-percent stake in the telecom services provider, Mbire’s stake in MTN Uganda is $42 million.
Kenyan tycoon Suresh Bhagwanji Shah gains $1.1 million in 19 days
This $1.13-million increase solidifies Shah’s position as one of the richest investors on the Nairobi Securities Exchange.
Kenyan tycoon Edward Kirathe’s property firm to raise $10.5 million from investors
Established in 2001 by Kirathe, Acorn Holdings Africa has completed over 65 projects during its two-decade tenure.
Billionaire banker James Mwangi appointed as Kenya’s virtual university chancellor
Under Mwangi, Equity Group achieved record-breaking profits of $350 million at the end of the 2022 fiscal year.