Sun Exchange secures $2.5 million from Patrice Motsepe-backed Africa Renewable Power Fund
This latest fund follows an earlier $4-million Series-A funding round in 2020.
Hot News
Zimbabwe suspends billionaire Strive Masiyiwa’s Cassava Smartech from trading on local bourse
The company was suspended from trading after failing to publish its most recent financial statements.
South African mining magnate Quinton van der Burgh speaks on life, business and the future of fiat money
Van der Burgh is a serial entrepreneur, philanthropist and one of the wealthiest people in South Africa.
Runa Alam’s DPI sells 31-percent stake in Food Concepts to African Capital Alliance
Food Concepts operates some of the most loved brands in Africa, like Chicken Republic, PieXpress and Chop Box.
Said Alj-led Moroccan insurance company Saham Assurance posts $42.4 million in mid-year profits
Its mid-year profit grew by 469.4 percent compared to last year.
Led by wealthy Moroccan Tazi and Berrada families, Sothema posts $14.45 million in H1 profits
The Morocco-based pharmaceutical company specializes in medicine production and sales.
Venture capitalist Kola Aina appointed chairman of Lagos Angel Network
The outgoing LAN board has successfully mentored, advised and invested in over 100 Nigerian startups.
Isabella Ochola-Wilson-led Unga Group posts $2.66 million in profit as revenues remain flat at $161.2 million
The figure represented a 343.6-percent growth compared to last year.
Billionaire Patrice Motsepe’s ARC Fund commits $13.2 million for Elandsfontein phosphate project
The loan will be used to enhance what could become South Africa’s second-largest source of phosphate rock.
Investors could have seen 228-percent gain by buying stake in Obafoluke Otudeko’s Honeywell Flour Mills
The Nigeria-based flour-milling business has proved to be a top performer on the Nigerian Exchange.
Telecom billionaire Strive Masiyiwa launches fifth mega-data center in South Africa
His company, Liquid Intelligent Technologies, aims to build at least 10 data centers in Africa’s largest cities.
Tanzanian billionaire Mohammed Dewji steps down as Simba Sports Club chairman
Dewji is stepping down due to his extremely busy schedule, which involves significant world travel.
Zambian multimillionaire mogul James Ndambo ventures into business aviation
Ndambo joins a long list of African UHNWIs investing in the private jet business.
Tanzanian gold magnate Ketan Patel loses $1.44 million as Shanta Gold shares decline by 16 percent
Shanta Gold is a gold mining company registered in Guernsey in the Channel Islands.
Aliko Dangote sees net worth rise $571 million in one day after 6.53-percent surge in Dangote Cement
The half-billion-dollar gain can be attributed to sustained investor buying interest.
Pierre Guy Noel’s MCB Group posts $194.5 million in profit for 2021, 3.1-percent higher than last year
MCB Group is a financial service holding headquartered in Port Louis, the capital city of Mauritius.