Kenyan tycoon Peter Muthoka pockets $19 million profit selling his airport cargo business
Peter Muthoka made a Sh2.5 billion profit selling Transglobal Cargo Centre to Turkey's Celebi for $40.1 million, roughly twice its asset value.
Kenya
Kenyan billionaire Narendra Raval starts building $386 million cement plant in Kitui
Narendra Raval's Devki Group has begun building a 50 billion shilling cement factory at Ngaaie in Mwingi North, due to open in mid-2027.
Kenyan supermarket chain Quickmart is going public and these people will make millions
Sokoni is selling 2 billion Quickmart shares, and the proceeds go to Adenia Partners, the chain's founders and CEO Peter Kang'iri.
Nigerian billionaire Aliko Dangote will break ground on his Kenyan refinery on Sept. 30
Construction of the $17 billion East Africa Refinery at Lamu starts Sept. 30, while Dangote Cement has ruled out a Kenyan plant over limestone.
Indian billionaire Ravi Jaipuria's Varun Beverages enters Kenya with $32 million dairy deal
Ravi Jaipuria's Varun Beverages is entering Kenya with a $32 million deal for the dairy, juice and water business of a family-owned company.