Emirati retail billionaire Majid Al Futtaim acquires five Shoprite stores in Uganda
The move comes after Shoprite classified its subsidiary in Uganda as discontinued.
Hot News
Dangote Industries denies it is in talks with traders to secure loan for mega-refinery
Anonymous sources claim that the company is potentially looking to raise $500 million from traders.
Egyptian tech tycoon Ashraf Sabry earns $4.5 million in 17 days as shares in Fawry rebound
The multimillion-dollar gain in his stake is due to investors reacting positively to the group’s half-year results.
Timothy Nuy’s Finclusion secures $20 million in funding for expansion in Sub-Saharan Africa
Finclusion is a Mauritius-based startup that seeks to drive financial inclusion in Africa.
Christo Wiese-linked retailer Steinhoff plans to settle with claimants in Pepkor-related transaction
In 2014, Wiese sold Pepkor to Steinhoff in exchange for about 20 percent of Steinhoff’s issued shares.
Gambling tycoon Kessington Adebutu signs sponsorship deal with Nigeria Football Federation
The deal makes the betting company the official sponsor of the country’s national football teams.
Mauritian businessman Arnaud Dalais gains $5.5 million in 2021 as CIEL shares surge by double digits
The gains in his stake follow a double-digit surge in the group’s shares on the Mauritian bourse.
Africa’s richest billionaire Aliko Dangote loses $200 million as share price of three of his businesses declines
Between Aug. 24 and Sept. 15, Dangote’s net worth declined from $18.2 billion to $18 billion.
Patrice Motsepe’s African Rainbow Capital sets aside $24.7 million for aggressive expansion into fintech space
The investment company has entered negotiations to add a fintech conglomerate to the group.
Former CEO Sarel van Zyl receives salary package of $333,000 in 2021 from FirstRand Namibia
Compared to the previous year’s pay of $623,147, Awori’s remuneration in 2021 fell by nearly 47 percent.
Malawian mogul Hitesh Anadkat earns $1.34 million in 15 days as TNM results trigger surge in stock price
The gain can be attributed to swift investor reactions after the telecom company’s half-year earnings were published.
Ten female executives playing critical roles in Africa’s financial sector
Africa’s financial sector has seen massive growth over the past few years compared to previous decades.
Nigerian banking tycoon Tony Elumelu to earn $1.16 million in interim dividends from UBA
The dividend will be paid from the bank’s profit for the first half of 2021.
Rights group urges Nigeria to pay businessman Ned Nwoko, others $418 million for debt assistance
The consultants facilitated refunds to Nigeria from the Paris and London clubs.
Egypt’s affluent Khamis family earns $75.3 million as shares in Oriental Weavers surge to 41-month high
Oriental Weavers is one of the largest carpet manufacturers in the world.
Jose Antonio Primo-led LafargeHolcim Maroc posts resilient results as revenues and net profit soar
The growth in the group’s revenue in the first half of 2021 led to a triple-digit surge in net profit.