U.S. investor Jeffrey Stoops’ SBA Communications acquires Airtel’s tower operations in Tanzania
Airtel’s expansive tower portfolio will go for about $175 million.
East Africa
Steel tycoon Narendra Raval injects millions into ARM Cement’s fertilizer unit
The multimillionaire has invested $16.7 million in upgrading the unit.
Tanzanian multimillionaire brothers Aunali and Sajjad Rajabali’s stake in CRDB bank soars
Its market value has climbed 35 percent in under two months.
Tanzanian billionaire Said Bakhresa signs football mega-deal; Azam Media CEO eyes World Cup
The 10-year agreement is set to start next season.
soleRebels Founder Bethlehem Alemu launches Ethiopian bank with $116.3 million in capital
Selam Mortgage Bank aims to create the largest generation of homeowners in Ethiopian history.
Africa’s richest man Aliko Dangote pledges to become Tanzania’s economic ambassador
Dangote lauded the business climate created by Tanzanian President Samia Suluhu Hassan.
Safaricom, MTN Group bid for licenses in Africa’s second-most populous country, Ethiopia
The bureaucratic bidding process seems to finally be nearing an end.
James Mwangi-led Equity Group partners with KfW on Kenyan scholarship program
The Wings to Fly program is implemented with the Mastercard Foundation and Germany’s KfW.
Kenyan steel tycoon Narendra Raval makes bid to rescue struggling sugar company
Founded in 1971, Mumias Sugar was once the largest sugar manufacturer in Kenya.
Kenyan Court of Appeal dismisses board of Benson Ndeta’s Savannah Cement
The move comes after protracted legal battles over the insider purchase of a share in the company.
Ali Abdallah Hettam’s Djibouti-based lender acquires 100 percent of Kenya’s Uwezo Microfinance Bank
The Central Bank of Kenya announced the acquisition.
Huawei teams up with Safaricom to offer innovative solutions for restaurants
The Scan & Order solution will help digitize menus and ordering systems.
Aliko Dangote expresses interest in Sudan’s agricultural sector
His interest aligns with the African Continental Free Trade Area’s aim to boost intra-African trade.
High Court annuls long-contested will of Tanzanian media mogul Reginald Mengi
The Tanzanian High Court has rejected the will of the late billionaire businessman.
James Mwangi’s Equity Group partners with University of Nairobi to fight climate change
Its foundation will plant about 7,000 trees to mitigate the adverse effects of climate change.
Kenyan investor David Owino’s Ascent Capital raises more than $100 million in funding round; IFC joins in
The Nairobi-based private equity fund manager announced the news this week.