Edita $9.3 million loan Egypt
BusinessHot News

Egypt’s Edita secures $9.3 million loan to expand production capacity

Edita secures $9.3 million loan to boost production capacity after strong earnings growth and rising demand for packaged foods in…

Feyisayo Ajayi Feyisayo Ajayi
Jim Ovia, founder and former chairman of Zenith Bank.
BusinessHot News

After growing Zenith Bank to $23 billion in assets, Nigerian banking titan Jim Ovia retires

The announcement came during the lender’s 35th Annual General Meeting, where shareholders were also updated on a year marked by…

Omokolade Ajayi Omokolade Ajayi
BillionairesBusinessHot NewsLuxury

Ethiopia’s richest man Mohammed Al-Amoudi plans 10 hotels as wealth tops $9 billion

His investment firm, MIDROC Investment Group, has signed a master development agreement with Dubai-based First Group Hospitality to build and…

Omokolade Ajayi Omokolade Ajayi
Africa property companies list
BusinessHot News

10 most valuable real estate companies in Africa

Africa's listed property sector is expanding across markets, led by South African REITs and diversified firms driving urban growth investor…

Feyisayo Ajayi Feyisayo Ajayi
Zenith Bank, Nigeria’s most profitable lender.
BusinessHot News

After $230 million Q1 profit, Zenith Bank opens Côte d’Ivoire subsidiary

The expansion follows a steady financial performance through 2025 and early 2026, supported by growth in interest income and stronger…

Omokolade Ajayi Omokolade Ajayi
Turnstar House, Turnstar Holdings commercial property located in Main Mall, Gaborone, Botswana.
BusinessHot News

Botswana’s Turnstar reports $26.1 million rental income; profit falls 64%

Rental income rose 3 percent to BWP354.4 million ($26.1 million), supported by stable occupancy across its retail and commercial assets.

Omokolade Ajayi Omokolade Ajayi
Peter Ndegwa Safaricom compensation 2025
BusinessHot News

Safaricom’s CEO Peter Ndegwa pockets $2.3 million salary in 2025

Safaricom CEO Peter Ndegwa earned $2.28 million in 2025, up 16.6%, as profit declined despite revenue and asset growth.

Feyisayo Ajayi Feyisayo Ajayi
Nigerian billionaire Abdul Samad Rabiu.
BillionairesBusinessHot News

Nigerian billionaire Abdul Samad Rabiu becomes Africa’s second-richest as fortune hits $15.8 billion

The latest increase follows a sharp gain of $1.8 billion in a single week, driven largely by a rally in…

Omokolade Ajayi Omokolade Ajayi
Shaun Roos corruption case
BusinessHot News

South African court denies bail to businessman Shaun Roos in $95 million Cape contracts case

Cape Town court denies bail to businessman Shaun Roos over $95 million corruption case tied to municipal contracts and bribery…

Feyisayo Ajayi Feyisayo Ajayi
Zafiri IFC off-grid Africa
BusinessHot News

Mauritius’ Zafiri fund targets $1 billion valuation with IFC’s $120 million off-grid push in Africa

Zafiri targets $1 billion valuation as IFC commits $120 million to expand off-grid energy and clean cooking access across Africa.

Feyisayo Ajayi Feyisayo Ajayi
Egyptian billionaire Naguib Sawiris, one of Africa's richest individuals.
BillionairesBusinessHot News

Egyptian billionaire Naguib Sawiris’ net worth hits $11.3 billion as $400 million flows into gold

Through La Mancha, he holds key positions in Endeavour Mining and Evolution Mining.

Omokolade Ajayi Omokolade Ajayi
James Mwangi Equity Group stake
BusinessHot News

Kenya’s richest banker James Mwangi’s stake in Equity Group tops $70 million

James Mwangi’s Equity Group stake tops $70 million as shares rally, boosting wealth and reinforcing investor confidence in the lender.

Feyisayo Ajayi Feyisayo Ajayi
Metair $198 million debt refinance
BusinessHot News

South Africa’s Metair secures $198 million debt refinance, extends maturity to 5 years

Metair refinances $198 million debt, extending maturity to five years to ease pressure and support capital spending ahead of FY2026…

Feyisayo Ajayi Feyisayo Ajayi
Access Bank headquarters in Lagos, corporate headquarters of Access Holdings Plc.
BusinessHot News

Nigeria’s Access Holdings skips 2025 dividend as $380 million impairment hits income

Profits improved, but rising impairment costs and weaker comprehensive income left capital preservation ahead of dividend payments this year.

Omokolade Ajayi Omokolade Ajayi
Nedbank NCBA acquisition Kenya
BusinessHot News

South Africa’s Nedbank secures 77% backing for $856 million NCBA acquisition in Kenya

Nedbank secures 77% backing for its $856 million NCBA stake acquisition, advancing a cross-border deal to expand into Kenya’s fast-growing…

Feyisayo Ajayi Feyisayo Ajayi
Amadou Diallo, Senegalese executive and CEO of Aramex.
BusinessGlobal NewsHot News

Senegalese executive Amadou Diallo named CEO of logistics giant Aramex

His appointment, which took effect on May 1, 2026, places him at the helm of a business that generated $1.73…

Omokolade Ajayi Omokolade Ajayi
BusinessHot News

Egypt increases gas prices for industries as energy costs fluctuate

Officials framed the decision as part of ongoing adjustments meant to manage rising import costs without disrupting basic consumer supply.

Omokolade Ajayi Omokolade Ajayi
Marvin Ellison Lowe’s compensation
BusinessHot News

Marvin Ellison earns $22 million as Lowe’s CEO, cementing position among top Black executives

Marvin Ellison earns $21.6 million in 2025 as Lowe’s posts strong revenue growth, reflecting performance-linked executive compensation.

Feyisayo Ajayi Feyisayo Ajayi
Spear REIT investment
BusinessHot News

PIC joins top investors in Spear REIT, acquires $22 million stake

PIC has acquired a $22 million stake in Spear REIT, securing 6.557% holding and ranking among top five shareholders in…

Feyisayo Ajayi Feyisayo Ajayi
FDH Bank profit growth
BusinessHot News

Malawi’s FDH Bank posts $85 million profit amid Mozambique expansion

FDH Bank profit nearly doubles to $85 million in 2025, driven by strong lending growth, rising interest income and regional…

Feyisayo Ajayi Feyisayo Ajayi
Afrobeats Lagos
EntertainmentTourism

10 African cities where music fuels culture and travel

Music drives culture and tourism across Africa, from Lagos to Johannesburg, blending tradition and modern beats.

Jamil Abubakar, Dangote Group infrastructure and logistics chief, appointed as Aliko Dangote expands trade and logistics operations across Africa.
BusinessHot News

Aliko Dangote’s son-in-law, Jamil Abubakar, takes leadership role at Dangote Group

Jamil Abubakar becomes Dangote Group infrastructure and logistics chief as Aliko Dangote expands African trade network.

South Africa’s Transnet secures $352 million French loan for ports and rail upgrade
BusinessTechnology

South Africa’s Transnet wins $352 million French funding for clean ports

South Africa’s state-owned logistics operator Transnet and France, through Agence Française de Développement, have signed a $352 million loan agreement worth about R5.86 billion. The deal is aimed at helping South Africa modernize its ports and freight rail network while reducing emissions across key transport corridors.  The agreement comes as South Africa continues to wrestle with persistent freight rail delays,…

Oluwatosin Alao Oluwatosin Alao
Trafigura
BusinessHot News

Trafigura targets stake in South Africa’s Natref refinery

Trafigura, a leading independent global commodities trader, is among a trio of global commodities traders competing for a 36.36% stake in South Africa’s Natref refinery, underscoring renewed international interest in strategic African energy infrastructure. The Singapore-based commodities giant is facing competition from industry rivals Vitol and Glencore as bidding advances for the minority holding in the 108,500-barrel-per-day refinery. The stake…

Timilehin Adejumobi Timilehin Adejumobi
Edita $9.3 million loan Egypt
BusinessHot News

Egypt’s Edita secures $9.3 million loan to expand production capacity

Edita secures $9.3 million loan to boost production capacity after strong earnings growth and rising demand for packaged foods in Egypt.

Feyisayo Ajayi Feyisayo Ajayi
Jim Ovia, founder and former chairman of Zenith Bank.
BusinessHot News

After growing Zenith Bank to $23 billion in assets, Nigerian banking titan Jim Ovia retires

Jim Ovia retires after growing Zenith Bank to $23 billion in assets, closing a 30-year era that shaped one of Africa’s top lenders.

Omokolade Ajayi Omokolade Ajayi
Norbert Sasse, CEO of Growthpoint
BusinessExclusive

Norbert Sasse: CEO of Growthpoint, South Africa’s largest real estate investment trust

Norbert Sasse leads Growthpoint Properties, South Africa’s largest REIT, driving expansion across global real estate markets.

Timilehin Adejumobi Timilehin Adejumobi
BillionairesBusinessHot NewsLuxury

Ethiopia’s richest man Mohammed Al-Amoudi plans 10 hotels as wealth tops $9 billion

Mohammed Al-Amoudi plans 10 hotels in Ethiopia as wealth exceeds $9 billion, expanding MIDROC’s hospitality investments.

Omokolade Ajayi Omokolade Ajayi
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