Competition Authority of Kenya warns government against steel tycoon Narendra Raval’s clinker import proposal
Raval’s Devki Group has a near monopoly on Kenya’s cement market. Clinker is a raw material used in cement production.
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Egyptian steel tycoon Ahmed Ezz gains $71 million in 21 days as Ezz Steel shares see double-digit surge
The steelmaker’s share price has surged due to investor cherry-picking activities on the Egyptian Stock Exchange.
Tunisian auto mogul Habib Essayeh gains $7.12 million in five months from stake in Euro-Cycles
Euro-Cycles is a Tunisian automotive company specializing in the production of bicycles for export.
Haresh Soni’s Nairobi Business Ventures acquires Delta Automobile, Delta Cement as part of $27-million deal
The company made the disclosure this morning, Oct. 18, in a statement issued from its office in Nairobi.
The top 10 African women in government you should know
Gender parity in government has traditionally been a major challenge in African politics.
Jack Bowles’ British American Tobacco commits to net-zero carbon emission by 2050
This will bring its sustainability targets in line with limiting global warming to 1.5C.
How sanctioned Zimbabwean billionaire Kudakwashe Tagwirei keeps earning incredible cash
They call him “Queen Bee” because of his sprawling business empire.
French billionaire Vincent Bollore considers selling African assets
According to the French newspaper Le Monde, Morgan Stanley has been engaged to search for potential buyers.
Botswana real estate mogul Gulaam Abdoola loses $5 million in nearly 10 months as Turnstar shares decline by double digits
Turnstar is a property loan stock company headquartered in Gaborone, the capital city of Botswana.
Tanzanian multimillionaire Rajabali brothers gain $1.6 million from stake in CRDB Bank in 2021
The gains come off the back of a double-digit increase in the bank’s shares on the Dar es Salaam Stock Exchange.
Neal Froneman’s Sibanye-Stillwater moves to implement responsible Gold Mining Principles
The World Gold Council created the principles to address critical environmental, social and governance issues.
Mozambican business magnate Salimo Abdula’s son kidnapped in South Africa, media report
According to Mozambican and Portuguese news reports, Jair Abdula was kidnapped on Thursday night in the city of Benoni.
Peter Ashade-led United Capital posts $14.53 million in profit in 9M 2021, assets surge by 72 percent
United Capital is a financial and investment services company based in Lagos, Nigeria.
Zak Calisto’s Karooooo posts $15.71 million in profit in H1 2022, 12-percent lower than previous year’s figures
Karooooo is an SaaS platform that provides real-time data analytics solutions for smart transportation.
Vuyo Ntoi-led AIIM secures $370 million in capital to boost access to clean energy
The capital raise exceeded the investment manager’s initial $301-million target by 20 percent.
Olugbenga Agboola’s Flutterwave in talks with investors to triple valuation to $3 billion
The company’s Series-C round in March brought its valuation to over $1 billion.