Femi Otedola First HoldCo stake
BillionairesBusinessHot News

Nigerian billionaire Femi Otedola, Samuel Babatunde Sule’s First HoldCo stake nears $700 million

Femi Otedola and Tunde Hassan-Odukale’s First HoldCo stake nears $700 million as banking stock rally lifts investor wealth on NGX.

Feyisayo Ajayi Feyisayo Ajayi
I&M Group headquarters at 1 Park Avenue, Nairobi, Kenya.
BusinessHot News

Kenya’s I&M Group posts $145 million profit in 2025; total assets hit $5.3 billion

The increase was driven by higher income and lower funding costs, according to the company’s recently released financial statements.

Omokolade Ajayi Omokolade Ajayi
Chakib Alj Forafric acquisition Morocco
BusinessHot News

Moroccan industrialist Chakib Alj’s $179 million Forafric deal to reshape North Africa’s agro‑industrial sector

Chakib Alj targets a $179 million Forafric stake, aiming to reshape Morocco’s milling sector and strengthen food security.

Feyisayo Ajayi Feyisayo Ajayi
Sunil Bharti Mittal, Founder and chair of Bharti Enterprises and Bharti Airtel
Hot NewsTechnology

Indian billionaire Sunil Bharti Mittal to step down in Airtel Africa leadership transition 

Sunil Bharti Mittal retires as Airtel Africa chair in July 2026; Gopal Vittal appointed successor as growth continues.

Timilehin Adejumobi Timilehin Adejumobi
Workers sorting avocados at Kakuzi Plc processing facility in Kenya
BusinessHot News

Kenya’s Kakuzi returns to profit, doubles dividend on $26.6 million avocado sales

The recovery led the company to double its dividend, signaling renewed operational confidence.

Omokolade Ajayi Omokolade Ajayi
Choppies profit decline
BusinessHot News

Botswana’s Choppies sees half-year profit fall to $5.6 million as retail pressures mount

Choppies' profit falls 33% to $5.6 million as rising costs pressure margins despite steady revenue growth and expansion.

Feyisayo Ajayi Feyisayo Ajayi
BusinessHot News

Uganda Airlines secures $113 million for fleet expansion as Kenya Airways seeks $2 billion rescue

The funding for Uganda Airlines is part of a supplementary request of Ush1.696 trillion ($455.7 million) approved last year.

Omokolade Ajayi Omokolade Ajayi
BusinessHot News

IFC partners Cashi to expand digital payments in Chad’s low-connectivity markets

IFC partners Cashi to expand digital payments in Chad, targeting low-connectivity markets and boosting financial inclusion.

Feyisayo Ajayi Feyisayo Ajayi
Royal Bafokeng Nation wealth
BillionairesBusinessHot News

South Africa’s royal Bafokeng nation sees stake in OUTsurance hits $837 million

South Africa’s Royal Bafokeng Nation holds $837.1 million in OUTsurance shares, reflecting a powerful community-owned investment model.

Feyisayo Ajayi Feyisayo Ajayi
Oge Elumelu, Tony O. Elumelu, CFR, and Dr. Awele Vivien Elumelu.
BusinessHot News

Heirs Energies drives African entrepreneurship, invests $10 million in 2,000 startups

Heirs Energies’ CEO, Osayande Igiehon, described the company’s approach as one that links energy delivery to economic growth.

Omokolade Ajayi Omokolade Ajayi
BusinessHot News

Remgro posts $307 million half-year earnings; Mediclinic and Rainbow boost results

The group’s headline earnings exceeded $300 million for the first half of its 2026 fiscal year, reflecting steady improvements across…

Omokolade Ajayi Omokolade Ajayi
Hitesh Anadkat, Malawian billionaire and co-founder of FMB Capital Holdings.
BusinessExclusiveHot News

Malawian billionaire Hitesh Anadkat loses $297 million following record $1.69 billion gain

For Anadkat, the $297 million drop in his stake since early 2026 follows a 2025 gain of MWK2.94 trillion ($1.69…

Omokolade Ajayi Omokolade Ajayi
Egypt 900 MW wind deal
BusinessHot News

Egypt’s Orascom Construction signs 900 MW wind power deal in Egypt with ENGIE, Aeolus

Orascom, ENGIE, and Aeolus sign 900 MW wind deal in Egypt, boosting renewable capacity and long-term clean energy growth.

Feyisayo Ajayi Feyisayo Ajayi
Kenya Airways airline operations during 2025 financial results period.
BusinessHot News

Kenya Airways posts $132 million 2025 loss as aircraft shortages hit Africa routes

The setback comes a year after the airline posted its first profit in more than a decade, reflecting how fragile…

Omokolade Ajayi Omokolade Ajayi
Datatec Logicalis Germany acquisition
BusinessHot News

South Africa’s Datatec expands European footprint with Poland acquisition

Datatec expands in Europe as Logicalis Germany acquires NetworkedAssets, strengthening engineering and Poland market entry.

Feyisayo Ajayi Feyisayo Ajayi
IFC MSME financing Africa
BusinessHot News

IFC targets women-led MSMEs through Simone Tiemtoré’s banking arms in Guinea and Burkina Faso

IFC launches $600,000 advisory project to boost MSME lending and financial inclusion in Guinea and Burkina Faso.

Feyisayo Ajayi Feyisayo Ajayi
Zimbabwe land reform 2050
BusinessHot News

Zimbabwe pushes land reform to unlock $258 billion economic potential by 2050

Zimbabwe advances land reform to unlock $258 billion economic potential, issuing bankable title deeds to 360,000 farmers.

Feyisayo Ajayi Feyisayo Ajayi
BusinessHot News

Fuel scarcity hits Kenya as Iran war disrupts shipments

The strain stems from frozen domestic pump prices set by the Energy and Petroleum Regulatory Authority (EPRA), while global oil…

Omokolade Ajayi Omokolade Ajayi
MCB wins awards for $400 million energy deal
BusinessHot News

MCB wins top African finance awards for $400 million Karpowership deal

MCB wins top African finance awards for a $400 million Karpowership deal, boosting its role in energy and infrastructure financing.

Feyisayo Ajayi Feyisayo Ajayi
Partech backs littlefish to scale SME banking
BusinessHot News

Partech leads about $10 million investment in South Africa’s fintech to scale Africa’s merchant banking

Partech leads $9.5 million investment in littlefish to scale merchant banking infrastructure for SMEs across Africa.

Feyisayo Ajayi Feyisayo Ajayi
Leading beverage companies in Zimbabwe
BusinessHot News

7 leading beverage companies in Zimbabwe

Zimbabwe’s top beverage companies drive jobs, revenue and daily consumption, led by Delta, Afdis, Varun Beverages and Schweppes Zimbabwe market.

MTN
BusinessHot News

MTN Ghana’s market cap increases by $132 million on GSE in first 20 days of 2025

This boost has cemented MTN Ghana’s place as one of the top companies in both West and Central Africa.

Femi Otedola First HoldCo stake
BillionairesBusinessHot News

Nigerian billionaire Femi Otedola, Samuel Babatunde Sule’s First HoldCo stake nears $700 million

Femi Otedola and Tunde Hassan-Odukale’s First HoldCo stake nears $700 million as banking stock rally lifts investor wealth on NGX.

Feyisayo Ajayi Feyisayo Ajayi
Mozambique seeks IMF support as debt rises
BusinessHot News

IMF mission set for Mozambique as debt concerns intensify

Mozambique is preparing to host a new mission from the International Monetary Fund, a move that highlights growing pressure on the government to steady its finances and reassure investors. The visit, expected in the coming months, comes as officials in Maputo look for ways to ease rising debt concerns and secure fresh support.  The talks arrive at a delicate time.…

Oluwatosin Alao Oluwatosin Alao
I&M Group headquarters at 1 Park Avenue, Nairobi, Kenya.
BusinessHot News

Kenya’s I&M Group posts $145 million profit in 2025; total assets hit $5.3 billion

Nairobi-based lender I&M Group posts a $145 million profit in 2025 as total assets reach $5.3 billion.

Omokolade Ajayi Omokolade Ajayi
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