British businessman Keith Palmer’s AgDevCo secures $90 million to invest in African agribusiness
AgDevCo was founded in 2010 by British businessman Keith Palmer.
East Africa
Mauritian Doger de Speville family gains $4.3 million from stake in Medine
Members of the family include Marie Therese Doger De Speville, Thomas Doger de Spéville, and 82-year-old Pierre Doger de Speville.
MarketForce gets $40 million in funding backed by Kenyan businessman Ken Njoroge
MarketForce established a strategic partnership with Cellulant in December.
Kenyan tycoon Jimnah Mbaru loses $1.1 million from stake in Britam Holdings
Britam Holdings is a leading financial services provider with operations throughout Southern and East Africa.
Kenyan tycoon James Mwangi’s stake in Equity Group is worth $59.8 million
Mwangi holds a 3.38-percent stake, or 127,809,180 shares, in the financial services group.
Mauritian tycoon Arnaud Lagesse-led IBL Group posts $36 million in profit in H1 2022
The Mauritius-based conglomerate recorded a triple-digit increase in profit in the first half of its 2022 fiscal year.
Mauritian tycoon Hector Espitalier-Noel’s New Mauritius Hotels obtains approval to enter into $22.3-million facility
New Mauritius Hotels has long been the pioneer and leader of the Mauritian tourist business.
Mauritian tycoon Arnaud Dalias’ CIEL Limited declares $21 million in profit
Dalais, the chairman of the Mauritius-based company, owns an eight-percent stake in CIEL.
Uganda’s richest man Sudhir Ruparelia regains control of Crane Bank
Ruparelia had a net worth of $1.1 billion in 2012.
WPP Scangroup appoints Patricia Ithau to replace fallen Kenyan mogul Bharat Thakrar as CEO
Her appointment comes a year after Thakrar stepped down as CEO.
Malagasy businessman Hassanein Hiridjee’s AXIAN Telecom launches $420-million bond
Hiridjee said the transaction’s success reflects AXIAN Telecom’s resilient business model.
Led by Kenya-based entrepreneur Jit Bhattacharya, BasiGo receives $4.3 million in seed funding from investors
BasiGo aims to make East Africa a global leader in clean, affordable electric bus transit.
Mauritian tycoon Hector Espitalier-Noel’s New Mauritius Hotels posts $12.5 million in profit
The pioneer and leader of the Mauritian tourism industry posted impressive results for Q2 2022.
Tanzanian Rajabali brothers gain $2.1 million as CRDB Bank shares skyrocket by double digits
The multimillionaire brothers, Aunali and Sajjad Rajabali, own a 2.6-percent stake in the Dar es Salaam-based lender.
Led by Mauritian Lagesse family, LUX Island Resorts posts $9.7 million in profits in Q2 2022
Lux Resorts is a leading luxury hotel operator with properties and operations in Mauritius, the Maldives, China, France and Vietnam.
Kenyan insurtech startup founder Jihan Abass’ Lami acquires Bluewave Insurance to drive expansion plans
The acquisition aligns with the firm’s mission to break the three-percent insurance penetration barrier in Africa.