Mellody Hobson’s Ariel Alternatives expands with industrial services acquisition
Mellody Hobson’s Ariel Alternatives expands into industrial services with its $1.45B Project Black fund, acquiring Groome Industrial Service Group.
Hot News
Egyptian billionaire Mohamed Mansour points to AI as Africa’s development lever
Egyptian billionaire Mohamed Mansour sees artificial intelligence as a key lever for Africa’s growth.
Shoprite Nigeria shuts stores in major cities 4 years after Tayo Amusan’s Ketron takeover
Four years after Tayo Amusan’s Ketron takeover, Shoprite Nigeria is still struggling to steady its business in Africa’s most populous economy
South African entrepreneur André Pienaar sued over $10 billion Amazon contract
André Pienaar sued in Washington over $10 billion Pentagon cloud contract involving Amazon and lobbying claims.
Egypt’s billionaire El-Sewedy family to build $29 million cold-storage facility
The project aims to strengthen Egypt’s cold chain infrastructure, improve food quality, and cut waste, the companies said in a joint statement.
Prosus, led by South African billionaire Koos Bekker, puts $139 million into Indian firm before IPO
Prosus, chaired by Koos Bekker, raised its stake in India’s Urban Company to 7.35% with a $139 million investment ahead of its IPO.
Glencore, led by Gary Nagle, in talks to rescue South African smelters
Glencore, led by Gary Nagle, pursues talks with South Africa’s government to rescue smelters as power costs rise.
Egyptian businessman Naguib Sawiris nears $10 billion fortune
Naguib Sawiris nears a $10 billion fortune as gold and real estate investments fuel his rise.
Nigerian logistics mogul Taiwo Afolabi opens new projects to boost community life
Taiwo Afolabi commissions ICT hub, market stalls, and a recreational park in Ogun State to uplift local communities.
South African billionaire Jannie Mouton's Capitec stake rebounds to $1.2 billion
South African billionaire Jannie Mouton’s Capitec stake rises to $1.2 billion as shares gain on renewed investor confidence.
Africa’s richest man leads record fuel exports from Dangote refinery
Dangote made the announcement at a conference, saying the plant has helped ease a problem that has dogged Nigeria for decades.
Kenyan tycoon John Kimani-linked Kakuzi teams up with government to boost agribusiness
Kakuzi, partly owned by tycoon John Kimani, partners with Siaya County to boost avocado and macadamia farming, aiming to lift rural incomes.
South African billionaire Johann Rupert’s Richemont watch brand sets up first U.S. boutique
The store marks Watchfinder’s first permanent boutique in the American market, offering customers an opportunity to experience its inventory in person.
Africa’s richest man sees $163 million wiped from wealth on cement slump
Africa’s richest man Aliko Dangote loses $163 million on cement slump, trimming fortune to $28.8 billion.
Egyptian billionaire Yasseen Mansour loses $6.5 million on Palm Hills stake
Chairman Yasseen Mansour’s Palm Hills stake falls $6.55 million amid continued share pressure on the Egyptian Exchange.
Aliko Dangote's refinery to begin direct petrol supply in Nigeria
Dangote Refinery will start direct petrol supply to 11 Nigerian states from Sept. 15, setting pump prices at N841 to N851 per liter.