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.
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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.
Egyptian billionaire Nassef Sawiris’ net worth rises by $820 million in May
The surge is largely due to gains in his shares in Adidas and OCI N.V.
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.
Mandela foundation launches $80,000 Äänit Prize to support projects with positive punch in Africa
The prize will go to projects that have a high potential for impact.
Flutterwave, Basketball Africa League partner up to drive economic growth in Africa
The multi-year partnership is aimed at assisting micro-, small- and medium-sized enterprises.
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.
Strive Masiyiwa criticizes Serum Institute of India for interrupting COVAX Initiative
The Zimbabwean billionaire is upset with the institute’s plans to extend its pause on COVID-19 vaccine exports.
Johann Rupert’s stake in Remgro gains $81.7 million after news of potential Heineken acquisition
Distell, a leading South African brewer, is partly owned by his investment group.
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.
Access Bank’s acquisition of BancABC Mozambique step to pan-African scale: Group CEO
Access Bank Group also recently acquired Grobank South Africa.
Heineken negotiates to acquire Johann Rupert’s Distell Group
Distell is linked to South African billionaire Johann Rupert.
Group CEO Nganga Njiinu makes U-turn retreat on TransCentury’s Nairobi delisting
TCL has canceled plans to delist from the Nairobi Securities Exchange, where it is planning a rights issue.