Kenyan entrepreneur Mark Mwangi’s Amitruck receives $4 million in funding to expand across Africa
The seed round was completed nearly a year after the Kenyan startup completed its pre-seed funding.
East Africa
Malagasy tycoon Hassanein Hiridjee’s Axian Group acquires Senegalese firm, Eydon Petroleum
Following the deal, Eydon Petroleum’s operations will be integrated into Axian’s existing portfolio.
Kenyan tycoon Jaswant Rai challenges Mumias Sugar’s leasing contract to younger brother’s firm
The legal action is expected to exacerbate the Rai brothers’ feud over their late father’s inheritance.
Mansoor Hamayun’s Bboxx secures $15-million loan facility to finance solar systems for Kenyans
Bboxx is a next-generation utility company.
Tracey Turner’s 10-year-old startup, Copia, secures $50 million to drive pan-African expansion
Copia is a B2C e-commerce platform serving middle- and low-income African consumers.
James Mwangi’s Equity Bank secures $49.3 million in funding for onward lending to small businesses
The funds will be deployed to render support through microcredit loans to small and medium-type businesses in Kenya.
Australian tycoon Matthew Yates’ OreCorp moves to offload Australian assets to focus on Tanzanian gold
The assets include the Hobbes Prospect within the Yarri Project in the Eastern Goldfields.
Britam Holdings appoints Kenyan executive Charles Njuguna as acting managing director
Njuguna played a strategic role as finance director in the execution of the group’s turnaround strategy.
Kenyan tech entrepreneur Eric Muli’s Lipa Later secures $12 million to expand in Africa
Lipa Later is a Kenyan consumer credit platform co-founded by Kenyan tech entrepreneur Eric Muli in 2018.
Kenyan high court suspends Mumias Sugar Lease to Sarrai Group weeks after ligation by Julius Mwale
The court action comes nearly two weeks after Kenyan tycoon Julius Mwale challenged the leasing of Mumias Sugar’s assets to Sarrai Group.
Court vacancies hamper Kenyan tycoon Baloobhai Patel’s $10.6-million acquisition deal via Carbacid Investments
Patel owns a 49.9-percent stake in Carbacid.
Kenyan banker James Mwangi loses $3.7 million in seven days from stake in Equity Group
Mwangi, the CEO and managing director of Equity Group, owns a 3.38-percent stake in the bank.
Led by Canadian executive Mike Henry, BHP Group moves to invest $100 million in Tanzanian nickel project
BHP Group will invest $40 million to accelerate the development of the Kabanga deposit.
Joshua Oigara-led KCB Bank commits $7.1 million to support MSMEs in Kenya
KCB Bank operates as a subsidiary of KCB Group, one of the largest commercial banking groups in East Africa.
Sarrai Group sets aside $9.7 million to start operations in Mumias Sugar, despite court case from Julius Mwale
Sarrai Group, an Uganda-based conglomerate, is led by Kenyan businessman Sarbi Singh Rai, who is the group chairman.
Wealthy Rai family of Kenya set to launch $44-million sugar plant
The Naitiri Sugar plant owned by the wealthy Rai family of Kenya is set to commence operations before the end of Q1 2022.