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
Nigerian billionaire Abdul Samad Rabiu
BusinessHot News

Nigerian billionaire Abdul Samad Rabiu’s BUA Foods posts $103 million Q1 profit

The figures, drawn from the company’s unaudited financial statement, show steady earnings growth driven largely by improved margins rather than…

Omokolade Ajayi Omokolade Ajayi
Botswana Stock Exchange overview
BusinessHot News

Botswana’s top 5 listed companies above $500 million by market value

Botswana Stock Exchange tops $70 billion as five giants in mining, banking, and trade drive liquidity, growth, and regional investor…

Feyisayo Ajayi Feyisayo Ajayi
Johannesburg-born banking executive, Kenny Fihla, the Group CEO of Absa Group.
BusinessHot News

Johannesburg-born banker Kenny Fihla takes $7.6 million pay from Absa in 2025

The payout reflects the scale of his transition between two of the continent’s biggest financial institutions.

Omokolade Ajayi Omokolade Ajayi
KoBold Metals’ Quebec exploration site, part of its North American push into lithium and nickel critical minerals for global energy transition supply chains.
BusinessHot News

Bill Gates-backed firm breaks ground on $2.5bn Zambia copper mine after $50m Congo lithium bet

The start of work at Mingomba comes just weeks after the company disclosed plans to invest $50 million in lithium…

Omokolade Ajayi Omokolade Ajayi
Reinet NAV decline 2026
BillionairesBusinessHot News

Reinet’s net asset falls to $7.7 billion as Johann Rupert’s firm faces market pressure

Reinet posts $7.73 billion NAV as market volatility drives annual decline despite steady long-term growth and diversified portfolio resilience.

Feyisayo Ajayi Feyisayo Ajayi
Nigerian billionaire businessman Tony Elumelu.
BusinessHot News

Tony Elumelu’s Transcorp posts Q1 profit above $27 million on hospitality gains

The group’s latest filing shows profit rose from N36.7 billion ($26.7 million) in the same period a year earlier.

Omokolade Ajayi Omokolade Ajayi
Capitec Gerrie Fourie board return
BusinessHot News

South Africa’s Capitec brings back former CEO Gerrie Fourie to board after cooling-off period

Capitec reappoints former CEO Gerrie Fourie to board after cooling-off period, strengthening governance and continuity amid strong earnings growth.

Feyisayo Ajayi Feyisayo Ajayi
Julius Mwale smart city Kenya
BusinessHot News

Julius Mwale’s $2 billion smart-city bet: Rise, ambition, questions surrounding Kenya’s developer

Julius Mwale advances a $2 billion healthcare-led smart city in Kenya, pitching a scalable model while facing scrutiny over execution…

Feyisayo Ajayi Feyisayo Ajayi
Enko Capital impact fund
BusinessHot News

Alain Nkontchou’s Enko Capital backs Angola solar projects with $100 million

Enko Capital deploys $100M fund into Angola’s 72.4MW Luneta solar project, boosting renewable energy capacity and private credit use.

Feyisayo Ajayi Feyisayo Ajayi
Indian billionaire Sunil Bharti Mittal.
BusinessHot NewsTechnology

Indian billionaire Sunil Bharti Mittal’s final corporate move sets up $2B Airtel Money IPO

The proposed listing would mark a significant step in Airtel Africa’s effort to unlock value from its fintech operations as…

Omokolade Ajayi Omokolade Ajayi
IFC Norfund financing
BusinessHot News

IFC, Norfund back $83.2 million Nigeria energy push to reach 500,000 users

Nearly half a million Nigerian households are set to gain power access as IFC and Norfund commit $83.2 million to…

Feyisayo Ajayi Feyisayo Ajayi
DR Congo telecom tower expansion
BusinessHot NewsTechnology

IFC plans $59 million telecom tower financing for Eastcastle in DR Congo

IFC considers $59 million for Eastcastle to expand telecom towers in DR Congo, boosting connectivity and digital inclusion.

Feyisayo Ajayi Feyisayo Ajayi
Aliko Dangote, Africa’s richest man
BillionairesBusinessHot News

Aliko Dangote becomes first African, first Black billionaire worth over $30 billion

The latest estimate comes about six months after Bloomberg reported that the Nigerian businessman and industrialist crossed the $30 billion…

Omokolade Ajayi Omokolade Ajayi
BusinessHot News

Cygnum Capital’s FEI-OnGrid targets $750 million to expand Africa clean energy investments

FEI-OnGrid targets $750 million fund to scale decentralized renewable energy investments, boosting electricity access across underserved African markets.

Feyisayo Ajayi Feyisayo Ajayi
Egypt EU financing deal
BusinessHot News

What Egypt’s $5.5 billion EU deal could mean for its debt and development drive

EU’s $5.5 billion deal gives Egypt crucial debt relief and supports reforms, growth, and stronger economic stability.

Fairview Hotel Nairobi
LuxuryTourism

Fairview Hotel Nairobi joins IHG’s Luxury Vignette Collection

Fairview Hotel Nairobi joins IHG Vignette, blending heritage and modern luxury.

Africa-Finance-Corporation
BusinessHot News

AFC seeks up to $5 billion global financing for Lobito Corridor project

Global lenders back AFC's $5 billion push for Lobito Corridor, linking Central Africa’s copperbelt to Angola’s Atlantic export gateway.

Timilehin Adejumobi Timilehin Adejumobi
BusinessHot News

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

Seplat Energy profit rises to $37.9 million in first quarter 2026 as higher oil prices and stronger output lift revenue to $840.7 million.

Omokolade Ajayi Omokolade Ajayi
Tlaleng Mofokeng, Ncumisa Jilata, Lindiwe Sidali
BusinessHot News

7 women driving South Africa’s healthcare expansion

Seven women are reshaping South Africa’s healthcare sector through surgery, innovation, policy, and global health leadership.

Timilehin Adejumobi Timilehin Adejumobi
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 his fortune.

Omokolade Ajayi Omokolade Ajayi
Zimbabwe’s digital shift pushes mobile data to half of telecom revenue
BusinessTechnology

Mobile data becomes Zimbabwe telecoms’ biggest business as digital use surges

Zimbabwe’s telecom industry is being reshaped by one clear change: mobile data has become the biggest source of revenue for network operators, reflecting how people now use their phones more for internet access than for traditional calls and text messages.  That change is unfolding as smartphone adoption rises, digital payments become more common, and more consumers rely on streaming platforms,…

Oluwatosin Alao Oluwatosin Alao
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