Kenyan mogul Suresh Bhagwanji Shah loses over $5 million from I&M Group stake in 37 days
Shah owns a beneficial 10.98-percent stake in the company.
East Africa
Kenyan businessman James Mwangi loses over $5.4 million from stake in Equity Group
As of press time, Mwangi’s stake in the Kenyan financial services group is valued at $52.81 million.
Madagascar’s richest man Ylias Akbaraly to acquire U.S. broadcasting company GatesAir
GatesAir has announced that Thomson Broadcast has inked a definitive agreement to acquire them.
Tanzanian billionaire Rostam Aziz lobbies AfDB to increase agriculture funding
The tycoon’s appeal was intended to assist the country in becoming a major food exporter.
Tanzanian gold magnate Ketan Patel gains over $2.2 million in 81 days as Shanta Gold shares increase by 57.5 percent
The leading Tanzanian gold magnate owns a substantial 4.22-percent stake in Shanta Gold Limited.
Widow of late Tanzanian billionaire Reginald Mengi continues fight over inheritance
Jacqueline Mengi has won another obstacle in her efforts to fight for the control of the deceased’s estate.
Mauritian tycoon Hector Espitalier-Noel’s ENL rebounds, earnings surpass $8 million in H1 2022
The Mauritius-based group is led by Espitalier-Noel, who has a 9.92-percent beneficial stake in the company.
Kenyan banker Gideon Muriuki buys $100,000 shares in CIC Insurance
Muriuki now controls 137.8 million shares in the company.
Malagasy businessman Hassanein Hiridjee’s AXIAN Group completes solar plant mega-expansion project
Axian group has grown to become Madagascar’s leading solar energy producer under the leadership of Hiridjee.
AfDB withdraws multimillion-dollar funding after Kenya’s Moi family buys back stake in power plant
The Moi family is said to be Kenya’s second-largest landowner.
Tanzanian billionaire Rostam Aziz to enter Kenya’s liquefied petroleum gas market
Aziz was reportedly the first Tanzanian to have a net worth of more than $1 billion, according to Forbes.
Kenyan businessman James Mwangi’s Equity Group signs MOU with Uganda National Oil Company
Equity Bank Uganda is one of many operating subsidiaries of Equity Group Holdings.
Controlled by Kenya’s richest men, Britam Holdings completes sale of $121-million stake in Equity Group
Munga is a non-executive director at Britam and a co-founder and former chairman of Equity Group Holdings.
Kenyan businessman Vimal Shah’s Bidco Africa, 25 others invest $1.6 billion in DRC
Bidco Africa is a multinational consumer goods company.
Associates linked to Kenya’s late President Daniel Arap Moi will receive $3.4 million from two-year-old deal
The $3.4-million payout represents the balance from their stake in Transnational Bank sold to Access Bank in 2020.
Zimbabwean entrepreneur Tatenda Furusa’s ImaliPay raises $3 million in seed funding
The investment will be used to put ImaliPay on a sustainable growth path as it expands its offerings.