Kenyan tycoon Narendra Raval’s Devki Steel Mills applies for electricity supply license in Kenya
Raval was reported to have a net worth of $400 million in 2015.
East Africa
Mauritian Espitalier-Noel family loses $9.1 million from stake in ENL in 96 days
The family remains one of the country’s wealthiest investors.
Ugandan tycoon Emmanuel Katongole’s CiplaQCIL to pay shareholders first dividend in four years
Katongole owns 2.79 percent of the company, or 101,933,042 ordinary shares.
Kenya-based founder Stefano Carcoforo’s iProcure secures $10.2 million from investors
Carcoforo co-founded iProcure in 2013.
Uganda’s richest investor Charles Mbire gains $4.7 million from stake in MTN Uganda
The $4.7-million bump in his stake solidifies his position as the richest investor on the Uganda Stock Exchange.
John Kimani-linked Kakuzi partners with California-based berries seller, Driscoll’s
Kimani, a member of Kakuzi’s board of directors, owns 32.3 percent of the company, or 6,330,699 shares.
Aga Khan IV-backed Jubilee to receive $2.27 million from sale of Mauritian insurance subsidiary
Jubilee Holdings is a Kenyan investment holding company.
Kenyan banking exec Andrew Ndegwa gains $1.5 million in 43 days from investment in NCBA Group
Ndegwa, an executive director of First Chartered Securities Limited, owns 4.3 percent of NCBA Group.
Malagasy tycoon Hassanein Hiridjee says Africa needs to invest in clean energy transition
Hiridjee is one of Madagascar’s wealthiest and most powerful business leaders.
Ugandan tycoon Charles Mbire to pocket $1.15-million interim dividend from MTN Uganda
Mbire owns a significant 3.98-percent stake in the Ugandan telecom outfit.
Led by Kenyan founder Owen Sakawa, AI-powered startup Elloe acquires Flo by Saada
Elloe was founded in 2021 by Sakawa, Abhijay Rao, and Aaron Madolora.
Controlled by Kenyan tycoons, Britam Holdings hints at sale of HF Group stake
Britam has classified its 48.2-percent stake in HF Group as held for sale.
Kenyan businessman James Mwangi gains $9.9 million in less than two months as Equity shares rebound
Mwangi’s 3.38-percent stake has now risen in value to $51.71 million.
Tanzanian businessman Gaurav Kotecha fails to overturn arrest warrant over $5.9-million fraud case
Kotecha has been charged alongside his father, Midland Hauliers Director Javesh Kumar Prabhudar Kotecha.
Kenya Revenue Authority investigates John Kimani-linked Kakuzi for tax evasion
Kimani owns 32.3 percent of the company, or 6,330,699 shares.
Ugandan tycoon Charles Mbire’s MTN Uganda reports more than $50 million in profit in H1 2022
Mbire owns 3.98 percent of the company.