Salungano $182 million revenue coal output
BusinessHot News

South Africa’s Salungano reports $182 million revenue on stronger coal output

Salungano reports $182 million revenue as coal output and sales surge, boosting profit and strengthening balance sheet.

Feyisayo Ajayi Feyisayo Ajayi
Rocking the Daisies 2026 lineup
EntertainmentHot News

Jorja Smith to headline Rocking the Daisies 2026 festival in Cape Town

Jorja Smith will headline Rocking the Daisies 2026 in Cape Town, marking her first South Africa show as organizers unveil…

Feyisayo Ajayi Feyisayo Ajayi
Lanzerac Estate forfeiture dispute
BusinessHot News

Lanzerac Estate sues Apex Bank over $13 million forfeiture tied to Former Steinhoff CEO Markus Jooste

Lanzerac Estate contests SARB’s $13 million forfeiture tied to Jooste-era transactions, raising constitutional questions in Gauteng High Court case

Feyisayo Ajayi Feyisayo Ajayi
Stephen Saad Aspen stake
BillionairesBusinessHot News

South African billionaire Stephen Saad’s Aspen stake nears $500 million after turbulent year

Stephen Saad’s Aspen stake rises $87 million to nearly $500 million as shares rebound after regulatory setbacks and losses.

Feyisayo Ajayi Feyisayo Ajayi
BusinessHot News

After $555 million profit, Equity targets Angola, Zambia, Mozambique acquisitions

The group is considering acquisitions in Southern Africa, with Angola, Zambia, and Mozambique central to its next move.

Omokolade Ajayi Omokolade Ajayi
Michael Ade-Ojo Custodian stake
BusinessHot News

Nigerian auto magnate Michael Ade-Ojo’s stake in Custodian Investment tops $70 million

Michael Ade-Ojo’s stake in Custodian Investment surpasses $70 million as dividend strength fuels rising investor demand on Nigeria’s stock market.

Feyisayo Ajayi Feyisayo Ajayi
MTN Group logo, representing the pan-African telecom operator.
BusinessHot NewsTechnology

MTN Nigeria’s Q1 2026 profit nearly triples to $258 million on data demand surge

The performance reflects higher revenue, tighter cost control, and steady investment in its network.

Omokolade Ajayi Omokolade Ajayi
Luvuyo Masinda earnings jump
BusinessHot News

South African executive Luvuyo Masinda sees earnings jump 251% to nearly $3 million in 2025

Standard Bank executive Luvuyo Masinda’s earnings jumped 251% to $2.66 million in 2025 after his promotion to lead corporate banking.

Feyisayo Ajayi Feyisayo Ajayi
Choppies retail expansion strategy Africa
BusinessHot News

How Choppies’ founder Ramachandran Ottapathu built a regional retail empire across Southern Africa

Retail entrepreneurs can learn scaling discipline from Choppies founder Ramachandran Ottapathu’s mass-market, supply-driven strategy.

Feyisayo Ajayi Feyisayo Ajayi
TPS Eastern Africa
BusinessHot News

Parent of Serena Hotels sees profit decline to $6.1 million as FX gains fade in Kenya

TPS Eastern Africa profit falls 40% to $6.1 million as FX gains fade, while revenue remains stable amid tourism resilience…

Feyisayo Ajayi Feyisayo Ajayi
BusinessHot News

South Africa’s Clientèle plans JSE exit amid low liquidity with premium share offer

Clientele plans JSE delisting with R19.9 ($1.18) share buyback, offering a 25.47% premium to unlock shareholder value.

Feyisayo Ajayi Feyisayo Ajayi
Capitec Bank dividend payout
BillionairesBusinessHot News

South African billionaire Tshepo Mahloele to pocket $22 million dividend after $840 million stake sale

Tshepo Mahloele eyes $22 million payout as Capitec Bank lifts dividend on strong earnings and rising customer activity.

Feyisayo Ajayi Feyisayo Ajayi
Nigerian billionaire Abdul Samad Rabiu
BillionairesBusinessHot News

Nigerian billionaire Abdul Samad Rabiu gains N2.7 trillion this week from BUA Cement shares

The gain places him as the biggest mover on the NGX this week, reinforcing his standing among Africa’s richest individuals…

Omokolade Ajayi Omokolade Ajayi
African tech unicorns
BusinessHot News

10 most valuable companies on Johannesburg Stock Exchange

For investors, these 10 companies profiled by Shore Africa represent a blend of stability, growth, and exposure to Africa’s long-term…

Feyisayo Ajayi Feyisayo Ajayi
BusinessHot News

Seplat Energy’s Q1 2026 profit rises to $37.9 million on higher oil prices

Seplat Energy, Nigeria’s largest listed energy producer, counts Nigerian billionaire Tony Elumelu as its biggest shareholder through Seplat Energy.

Omokolade Ajayi Omokolade Ajayi
UAC of Nigeria earnings report
BusinessHot News

UAC of Nigeria posts $10 million Q1 profit as CHI boosts revenue under Fola Aiyesimoju

UAC of Nigeria posts $10m profit, revenue triples as C.H.I. acquisition drives strong Q1 2026 consumer goods growth.

Feyisayo Ajayi Feyisayo Ajayi
BillionairesBusinessHot News

South African billionaire Koos Bekker hit by $500 million loss in share slide

The drop follows a steady slide in the shares of Naspers and its Amsterdam-listed unit Prosus, two companies central to…

Omokolade Ajayi Omokolade Ajayi
GTCO logo represented as a modular corporate structure highlighting its diversified financial services group.
BusinessHot News

GTCO’s Q1 profit slips to $158 million as valuation losses, higher taxes weigh on earnings

Despite the dip in quarterly profit, the group’s financial position strengthened. Total assets rose to N18.75 trillion ($13.63 billion) from…

Omokolade Ajayi Omokolade Ajayi
Aliko Dangote, Africa’s richest man and founder of Dangote Group.
BillionairesBusinessHot News

Nigerian billionaire Aliko Dangote’s Dangote Cement posts $233 million profit in Q1 2026

The Lagos-based cement maker reported profit of N321.1 billion ($233.8 million) for the three months ended March 31, up from…

Omokolade Ajayi Omokolade Ajayi
Africa supply chain finance facility
BusinessHot News

World Bank Group, Standard Chartered launch $300M Africa trade finance facility

Standard Chartered launch a $300 million facility to boost supply chain finance and ease SME liquidity constraints across Africa.

Feyisayo Ajayi Feyisayo Ajayi
ADvTECH Academic Centre of Excellence
BusinessHot News

ADvTECH Group’s top 10 school acquisitions from 2015 to 2025

Explore ADvTECH’s top 10 African school acquisitions that shaped its education expansion strategy.

BusinessHot News

Over 400 Nestlé employees in South Africa face layoffs

Nestlé starts layoffs in South Africa, part of a global restructuring affecting 16,000 jobs to boost performance and efficiency.

Salungano $182 million revenue coal output
BusinessHot News

South Africa’s Salungano reports $182 million revenue on stronger coal output

Salungano reports $182 million revenue as coal output and sales surge, boosting profit and strengthening balance sheet.

Feyisayo Ajayi Feyisayo Ajayi
I&M Bank Kenya bond sale
BusinessHot News

I&M Bank targets wealthy investors with $77 million Kenya bond sale

I&M Bank sets Ksh500,000 ($3,872) entry for $77 million Kenya bond, targeting wealthy investors to boost lending and strengthen capital buffers.

Feyisayo Ajayi Feyisayo Ajayi
Lanzerac Estate forfeiture dispute
BusinessHot News

Lanzerac Estate sues Apex Bank over $13 million forfeiture tied to Former Steinhoff CEO Markus Jooste

Lanzerac Estate contests SARB’s $13 million forfeiture tied to Jooste-era transactions, raising constitutional questions in Gauteng High Court case

Feyisayo Ajayi Feyisayo Ajayi
Stephen Saad Aspen stake
BillionairesBusinessHot News

South African billionaire Stephen Saad’s Aspen stake nears $500 million after turbulent year

Stephen Saad’s Aspen stake rises $87 million to nearly $500 million as shares rebound after regulatory setbacks and losses.

Feyisayo Ajayi Feyisayo Ajayi
FMHL-Building
BusinessHot News

Zimbabwe’s FMHL expands health services with $10 million push

FMHL deploys $10 million into health services as profit recovery strengthens expansion across Southern and Eastern Africa.

Timilehin Adejumobi Timilehin Adejumobi
BusinessHot News

After $555 million profit, Equity targets Angola, Zambia, Mozambique acquisitions

After over $555 million profit in 2025, Equity Group eyes Angola, Zambia and Mozambique acquisitions as regional expansion accelerates.

Omokolade Ajayi Omokolade Ajayi
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