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.
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Assem Ragab-led Credit Agricole Egypt records over $102 million in net profits in 2021
The increase in net profit was fueled by a 2.4-percent increase in net-interest income.
Oil production ship linked to Nigerian energy magnate Ambrosie Bryant Orjiako explodes
The energy firm stated that there were no reported fatalities at the time of writing.
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.
Egyptian tycoon Hend El-Sherbini loses $20 million from stake in healthcare services provider, IDH
El-Sherbini owns a 25.5-percent stake in the group, or 152,982,356 ordinary shares.
Moroccan tycoon Mohammed Abdeljalil-led Marsa Maroc sees over $383 million in revenue in 2021
The revenue increase cements Marsa Maroc’s position as one of Morocco’s leading listed companies.
Energy lawyer NJ Ayuk’s Centurion Int’l becomes first Africa-focused services firm to list in Germany
Ayuk, a Cameroonian lawyer and leading authority in the African energy sector, founded Centurion in 2007.
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.
South Africa’s second-richest man Nicky Oppenheimer gains more than $180 million in January 2022
The rise comes off the back of a revaluation of his assets held through Stockdale Street and Tana Africa Capital.
Nigerian businessman Victor Osibodu gets dragged to court over alleged $19-million debt owed to Ecobank
The debt is related to credit facilities provided by Ecobank to his energy company, Vigeo Holdings.
Namibian tycoon Quinton van Rooyen’s Trustco Group suffers over $64.6 million in losses in 2021
It is the second year in a row that the diversified investment holding has posted losses.
Egyptian mogul Ashraf Sabry’s Fawry sees $700 million in payment acceptance transactions in 2021
With a market capitalization of more than $1 billion, Fawry is one of Africa’s few tech unicorns.
Aliko Dangote’s auto company, Dangote Peugeot Auto, has begun Peugeot assembly in Nigeria
Dangote Peugeot Automobiles Nigeria Limited is owned by Dangote, the governments of Kaduna and Kebbi, and Stellantis Group.
Nigerian banking tycoon Tony Elumelu eyes new investments in Caribbean markets
Elumelu is the founder of one of Nigeria’s largest financial services groups, United Bank for Africa.
Ghanaian tycoon Daniel McKorley’s McDan Group opens private jet terminal in Accra
McKorley’s McDan Group is a transportation and logistics company with interests in shipping, logistics, and aviation.
Greek tycoon John Coumantaros’ Flour Mills of Nigeria reports $41 million in profits in 9M 2022
Flour Mills of Nigeria reported a single-digit increase in profit in the first nine months of its 2022 fiscal year.