Abdul Samad Rabiu signs deal for palm oil refinery
The facility will support sustainable practices in agriculture and manufacturing.
Hot News
LeBron James-backed Lobos 1707 signs strategic vodka deal with Diageo
This partnership marks a fresh start for Ciroc and a major leap forward for Lobos 1707, which has quickly gained traction in the booming agave spirits market.
Zimbabwe’s richest man Strive Masiyiwa’s AI factory to cost $720 million
The facility, which is set to launch in South Africa by June 2025, will provide businesses, governments, and researchers with world-class AI computing capabilities.
MTN, led by Ralph Mupita, partners with Synamedia to launch streaming platform
By employing multiple monetization strategies, the platform will be adaptable to the unique demands of different African markets.
Johann Rupert loses $3.2 billion as Trump tariffs ripple through global markets
South Africa's richest man, Johann Rupert, saw his net worth fall from $17 billion on March 4 to $13.8 billion at the time of this report.
Court blocks East Africa's first billionaire from recovering $2.2 million from dfcu
This marks a twist in the ongoing legal battle between Ruparelia’s Crane Management Services and dfcu bank.
Sanlam Kenya, backed by Kenyan investor Baloobhai Patel, to raise $19.3 million in rights issue
Sanlam Kenya, backed by tycoon Baloobhai Patel, plans a $19.3 million rights issue to cut debt, strengthen its balance sheet, and revive profitability.
Saltzman family, one of South Africa’s richest, loses $43.95 million from Dis-Chem stake
This follows a previous loss between Feb. 7 and Mar. 10, when their stake dropped by $45.37 million, from $473.47 million to $428.09 million.
Paul Fokam's Afriland to boost SME financing in Cameroon with $60 million
The move is designed to help close the funding gap faced by local businesses, especially those led by women, and support private-sector growth in the country.
South African tech mogul Zak Calisto’s stake in Karooooo drops $87.9 million
The drop comes in the wake of sweeping U.S. tariffs, which have rattled investors and pushed the mobility Software-as-a-Service (SaaS) company’s stock lower.
Moi family’s Sosian Energy loses geothermal license in Kenya
The Moi family's energy company, Sosian Energy, faces setbacks as its geothermal project’s progress is halted amid growing scrutiny.
Waleed Zaki leads Egyptian real estate developer to $21 million profit in 2024
This strong performance came despite a decline in operating revenues, from $114.3 million to $98.64 million.
VARO Energy to acquire Preem from Ethiopian billionaire Mohammed Al-Amoudi
This acquisition signals the end of Ethiopian billionaire Mohammed Al-Amoudi’s long-standing role in Sweden’s energy sector.
Nigerian energy tycoon Tope Shonubi’s Asharami Energy wins Kenya’s LPG deal
This win pushes aside the state-owned Kenya Pipeline Company (KPC) and challenges the expansion plans of Tanzanian energy giant Lake Oil, owned by Ally Edha Awadh.
MTN unfreezes $23 million as court rules against Cameroon's richest man
This is a major twist in the ongoing legal battle between Baba Ahmadou Danpullo and First National Bank (FNB), with MTN Cameroon caught in the middle.
Belayneh Kindie ventures into Ethiopia’s electric mobility space with 100 e-buses
Ethiopian businessman Belayneh Kindie launches 100 locally assembled electric buses in Addis Ababa, advancing Ethiopia’s clean transit and electric mobility goals.