Equinix to acquire startup founder Funke Opeke’s MainOne for $320 million
MainOne is West Africa’s leading communications services and network solutions provider.
Hot News
Egyptian tycoon Naguib Sawiris’ property firm Gemini gets $100 million in investment from Abu Dhabi-based Chimera
Gemini is a property developer under Ora Developers, a real estate operator and investment holding.
Ade Ayeyemi-led Ecobank posts strong earnings as profit soars nearly tenfold above $256 million
Ecobank is the leading independent regional banking group in West and Central Africa.
Orascom Construction, controlled by billionaire Nassef Sawiris, moves to acquire equipment distribution business
Orascom Construction is a leading global engineering and construction contractor.
Led by Gavin Hudson, Tongaat Hulett expects $13.8 million in losses in first half of 2021
Tongaat Hulett is a leading agri-business in sugar, ethanol, animal feed and cattle, with a significant footprint in Southern Africa.
Wealthy Mukuha family of Kenya in bitter feud over stake in Naivas supermarket chain
Founded by the late Kenyan businessman Peter Mukuha Kago, Naivas Supermarket is Kenya’s largest supermarket chain.
Kenyan sugar baron Jaswant Rai taken to court by brothers over inheritance
The two brothers object to the will and believe their father could have been coerced into crafting the document.
Moroccan tycoon Abdelali Berrada Sounni’s Dolidol acquires Nigeria’s Mouka Foam in $60-million deal
Dolidol is Morocco’s pioneer manufacturer of branded polyurethane foam and bedding products.
Ugandan tycoon Charles Mbire’s stake in MTN gets $49.6-million valuation following IPO
The public offering was the largest-ever in the history of Uganda.
Egyptian businessman Safwan Thabet’s Juhayna Food Industries reports higher earnings as profits surge
Juhayna Food Industries is a leading company specializing in producing, processing and packaging dairy, juice and cooking products.
Nigerian billionaire Tony Elumelu loses more than $4 million in 36 days
UBA is a leading Nigerian financial group with operations in 20 African countries, as well as the UK, United States and France.
Egypt’s Ghabbour family gains $15.8 million in 11 days as shares in GB Auto rebound
The wealthy Ghabbour family holds a majority 62.9-percent stake in the leading auto manufacturer.
Led by Ivorian banker Tiemoko Yade Coulibaly, Societe Generale Cote d’Ivoire loses $42.6 million in three days
Societe Generale Cote d’Ivoire SA is an Ivory Coast-based bank offering financial products and services.
Led by South African fashion tycoon Michael Lewis, TFG acquires Quench shopping platform
TFG is a South African retail clothing group, trading under various brands with more than 3,000 stores.
Indian billionaire Sunil Bharti Mittal buys back minority shares in unlisted Nigerian subsidiary
Airtel Nigeria is the most profitable subsidiary of Airtel Africa, a leading telecom and mobile money services provider in Africa.
Egyptian billionaire Yasseen Mansour’s Palm Hills closes seventh securitization bond
The issuance was fully underwritten and co-arranged by several banks, including National Bank of Egypt.