Mauritian financial powerhouse AfrAsia Bank appoints Malachy McAllister as new CEO
McAllister is a veteran banker with an enviable track record of strategic leadership and cognate experience that spans more than three decades.
Hot News
More trouble for Algerian tycoon Ali Haddad as court unravels fresh case of fraud
The long-time ally of the late former Algerian President Abdelaziz Bouteflika appeared before a court in Fellaoucene yesterday.
U.S. sanctions Angolan businesswoman Isabel dos Santos for involvement in corruption
U.S. Secretary of State Antony Blinken said the sanction was imposed for significant corruption.
Sudanese tycoon Osama Daoud Abdellatif’s DAL Group offers Zain $1.3 billion for telecom business in Sudan
DAL Group is a Sudan-based conglomerate with investments and active operations across several sectors.
Nigerian serial founder Sim Shagaya’s uLesson secures $15 million in China-led Series-B round
uLesson is a home-tutoring platform founded by Shagaya in 2019.
Nigerian billionaire Abdul Samad Rabiu unveils food company BUA Foods, set to list on NGX
BUA Sugar Refinery Limited, BUA Oil Mills Limited, IRS Flour, IRS Pasta and BUA Rice Limited have merged to form BUA foods.
U.S.-based investment firm divests $10.75 million in shares in Al-Moataz Adel Mahmoud Al-Alfi’s led EKH
EKH is an Egyptian investment company with a diversified portfolio of investments.
Ivorian technopreneur Idriss Monthe’s CinetPay receives $2.4 million in funding from 4DX Ventures, Flutterwave
CinetPay, a digital finance platform with operations across Francophone Africa, has seen impressive growth since its founding in 2016.
Led by Mohamed El-Shinnawy, Egyptian entertainment startup Minly acquires Oulo video-gifting platform
Minly is a digital platform that allows celebrities to connect to teeming fans through a new form of personalized experiences.
Nigerian billionaire Femi Otedola loses $2.9 million in four days as First Bank shares fall
FBN Holdings is one of the largest financial services organizations in Africa.
Egypt’s wealthy Khamis family moves to sell Oriental Weavers China
Oriental Weavers China is the Chinese subsidiary of Oriental Weavers, the world’s largest machine-made carpet manufacturer.
Patrice Motsepe-linked Tyme Bank receives $70 million in investment from Tencent and CDC
TymeBank, one of the world’s fastest-growing digital banks, has acquired 4 million customers in 32 months.
Nigerian billionaire Abdul Samad Rabiu secures $200 million from AFC to complete multimillion-dollar sugar project
The development significantly boosts Nigeria’s quest to ensure self-sufficiency in sugar production.
Egyptian tycoon Ahmed El Sewedy’s Elsewedy Electric to build $40-million electrical factory in Tanzania
Elsewedy Electric is an Egypt-based multinational electrical company founded by the Elsewedy family in 1938.
Ghanaian logistics tycoon Daniel McKorley signs $810,000 sponsorship deal with football club
The deal will see the club pocket up to $270,000 per year for the duration of the contract.
Ugandan tycoon Charles Mbire gains $1.2 million as stake in MTN Uganda surges above $51 million
The share price in the leading telecom company has increased by a single digit in just two days.