Centum, controlled by family of late tycoon Chris Kirubi, set to repay $19-million debt
Following Kirubi’s demise, his son Robert Kirubi and daughter Mary-Ann Musangi received 80 percent of his fortune.
East Africa
Mukuha family-linked retailer Naivas to open four new branches in Kenya
Naivas Supermarket is Kenya’s largest supermarket chain.
James Mwangi’s Equity Group proposes plan to support 5 million small businesses
Mwangi owns 3.38 percent of the financial services group.
Kenyan banking magnate Jimnah Mbaru entangled in child support dispute with 24-year-old
Mbaru is one of Kenya’s wealthiest businessmen.
Kenyan banker Gideon Muriuki’s Co-operative Bank to aid $413-million hustler fund
Muriuki owns a two-percent stake in the leading financial services group.
Mauritian tycoon Hector Espitalier-Noel’s ENL posts first profit in two years
ENL is a diversified conglomerate with more than 120 international and domestic brands.
Kenyan businessman Andrew Ndegwa gains $3.6 million from stake in NCBA Group
Ndegwa owns 4.3 percent of NCBA Group.
Chipper Cash Founder Ham Serunjogi to donate Starlink in Uganda
At just 36 percent, Africa’s Internet penetration compares poorly with the 62.5-percent global average.
Malagasy businessman Hassanein Hiridjee’s AXIAN Group launches renewable energy subsidiary, NEA
AXIAN Group is a Malagasy-based pan-African conglomerate.
Led by Kenya’s richest families, NCBA Group plans to spin out M-Shwari, other fintech businesses as separate unit
NCBA Group is partly owned by the super-rich Kenyatta, Merali, and Ndegwa families.
Ugandan tycoon Sudhir Ruparelia-linked Crane Bank loses $212.5 million against dfcu Bank
Ruparelia had a $1.1-billion net worth in 2012.
Kenyan tycoon Suresh Bhagwanji Shah loses over $6.2 million since start of 2022
Since its founding by Shah in 1974, I&M Group has expanded its operations to other East African countries.
Tanzanian billionaire Mohammed Dewji says food insecurity is Africa’s biggest threat
The billionaire believes that drastic measures are required to ensure food security on the continent.
South African retail mogul Mark Lamberti’s Massmart plans to shut down Game stores in East, West Africa
Massmart is Africa’s second-largest distributor of consumer products.
Nairobi-based entrepreneur Jit Bhattacharya-led BasiGo partners with KCB to drive adoption of electric buses
Bhattacharya and his friend Jonathan Green founded BasiGo in 2021.
Kenyan businessman John Kimani’s stake in Kakuzi now worth more than $22 million
Kimani owns 34.54 percent of Kakuzi.