Transaction Capital sells non-core assets in $28.8-million deal
The divestiture, finalized on Nov. 1, is part of Transaction Capital's strategy to streamline operations and focus on core business areas.
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Top five companies led by Egyptian billionaire Mohamed Mansour
Mohamed Mansour, through his leadership of Mansour Group and various strategic ventures, has built a global business empire spanning industries such as automotive, heavy machinery, food services, and sports.
BUA Foods posts $647 million in revenue in nine months, doubles earnings
BUA Foods Plc, one of Nigeria's top food producers, reports a 104-percent increase in revenue to N1.07 trillion ($647 million) for the nine months ending September 2024, driven by strong demand for sugar, flour, and pasta amid challenging economic conditions.
MTN Nigeria posts $311.2-million loss in Q3 2024 amid forex volatility and rising costs
MTN Nigeria Communications Plc, led by CEO Karl Toriola, reports a staggering loss of N514.9 billion ($311.2 million) for Q3 2024, marking a sharp increase in losses compared to N14.9 billion ($9 million) in the same period last year, driven by foreign exchange challenges and rising expenses.
Zenith Bank reports $604 million in profit, nearly doubles earnings in Q3 2024
Zenith Bank, Nigeria’s leading financial institution, achieves a remarkable 99-percent profit growth, reaching N1 trillion ($604.3 million) in the third quarter of 2024, driven by robust interest income and strategic investments despite challenging economic conditions.
Tony Elumelu calls for stronger partnerships to revitalize Nigeria’s oil and gas sector
At the 3rd anniversary of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Tony Elumelu advocates for closer collaboration between international oil companies (IOCs) and local firms to address Nigeria’s energy challenges and boost production.
Dangote Oil Refinery denies payments to IPMAN amid ongoing negotiations
The refinery specified that any referenced payments were processed through the Nigerian National Petroleum Company (NNPC) Limited, not directly to them.
Gus Attridge’s stake in Africa’s largest pharma company drops by $16.5 million
South African pharma mogul Gus Attridge loses $16.5 million from stake in Africa’s largest pharmaceutical company.
Femi Otedola drives parent firm of Nigeria’s oldest bank to $16 billion in assets
His leadership has helped push the group’s total assets past $16 billion, a milestone for the Lagos-based financial services provider.
Sibanye-Stillwater gains momentum as U.S. regulation boosts Montana PGM operations
Sibanye-Stillwater’s Montana PGM operations will gain from new Section 45X regulations under the U.S. Inflation Reduction Act (IRA), ensuring vital funding for palladium and platinum mining.
Ezz Steel shares rebound, boosting Ahmed Ezz’s stake to $755 million
This wealth rebound follows a recent rally in Ezz Steel’s stock price on the Egyptian Exchange (EGX), reversing earlier losses.
Eaton posts $18.6 billion in sales in 9M 2024
Electrical and aerospace segments propel growth, vehicle sales lag, CEO Arnold confident as profitability rises 24 percent.
Kenya’s Merali family faces $1.9-million decline from Sasini Tea shares
The decline underscores ongoing pressures on Kenya's agricultural sector as market challenges weigh on shareholder value.
IHS Nigeria powers relief efforts with solar boreholes for Maiduguri flood victims
The boreholes, part of IHS Nigeria’s ongoing collaboration with UNICEF, are designed to help prevent waterborne diseases and mitigate health risks for flood-affected residents.
Access Bank expands to Hong Kong to boost Asia trade operations
The move into Hong Kong comes against the backdrop of escalating U.S.-China tensions and Beijing’s deepening ties with Africa.
Stephen Brookes’ Balwin stake soars above $20 million
Stephen Brookes sees his Balwin Properties stake rise above $20 million amid a rally in the company's shares on the JSE.