Mauritian Lagesse family-linked firm Alteo acquires further $8.2-million stake in Transmara Sugar
The Mauritian Lagesse family and the Dalais family both control a portion of Alteo Limited through related entities.
East Africa
Kenya’s apex bank: Olugbenga Agboola’s Flutterwave, Ham Serunjogi’s Chipper Cash not licensed
The bank’s statement comes after Flutterwave denied links to a $59-million money laundering scheme.
Dar es Salaam-based multimillionaire Hans Macha gains $1.5 million from stake in CRDB Bank
Macha’s interest in Tanzania’s leading banking group is worth more than $5 million.
Kenyan mogul James Mwangi’s Equity signs MoU with EAC to fast-track growth
Under Mwangi’s leadership, Equity Group has grown into the largest financial services group in East and Central Africa.
Sudanese fintech founder Ahmed Ismail’s Bloom secures $6.5 million in seed funding
Visa joined the round and, in doing so, hopes to increase its card adoption in Sudan and East Africa.
Kenyan government suspends Tanzanian billionaire Rostam Aziz’s plans to build cooking gas plant
The freezing of his statutory licenses could lead to a trade spat between Kenya and Tanzania.
Kenyan banking magnate Jimnah Mbaru loses $2.4 million from investment in Britam
Mbaru still remains one of the Nairobi Securities Exchange’s wealthiest investors.
Wealthy Kenyatta family loses more than $4.5 million in 100 days as NCBA shares slump
The stake is linked to Ngina Kenyatta, Muhoho Kenyatta, and Uhuru Kenyatta, a leading politician who has served as Kenya’s president since 2013.
Kenyan tycoon Suresh Bhagwanji Shah’s I&M Group receives $15-million guarantee from FMO
NASIRA is a financial program that assists young, female, migrant, and COVID-19-affected entrepreneurs.
Michael Joseph-led Kenya Airways suspends London route ticket sales amid UK travel chaos
The recent development has the potential to significantly impact KQ’s third-quarter financial performance.
Wealthy Mauritian Lagesse family loses $21 million in 74 days from IBL Group investment
However, the Lagesse family remains one of Mauritius’ wealthiest, most powerful families.
Is the African Union passport a potential game changer?
The African Union passport is a common passport document set to replace existing nationally issued AU member-state passports.
Tanzanian Rajabali brothers lose $1.3 million after CRDB shares fall from record highs
Aunali and Sajjad Rajabali own a combined 2.6 percent stake in the Dar es Salaam-based CRDB Bank.
Led by Kenya’s Kirubi family, Haco Industries receives additional $2.3 million from Societe BIC
Haco Industries is one of the region’s leading FMCG manufacturers.
Mauritian multimillionaire Dominique Galea loses $2.4 million from stake in MUA
Galea remains one of the wealthiest investors on the Stock Exchange of Mauritius.
Ugandan pharma tycoon Emmanuel Katongole loses over $1 million in one year
Katongole owns 2.79 percent of the company, which translates to 101,933,042 ordinary shares.