CIC Group profits falls
BusinessHot News

Kenya’s CIC Group profit falls to $4 million in 2025 amid margin pressure

CIC Group profit plunges 82% to $4 million in 2025 as rising costs squeeze insurance margins across East Africa.

Feyisayo Ajayi Feyisayo Ajayi
Malawi asset-based lending IFC project
BusinessHot News

IFC launches nearly half a million dollar project to strengthen Malawi SME credit

IFC launches $425,000 Malawi project to boost SME credit, strengthen asset-based lending and expand access for underserved entrepreneurs.

Feyisayo Ajayi Feyisayo Ajayi
Africa electrification Mission 300
BusinessGlobal NewsHot News

World Bank, AfDB, Rockefeller launch Mission 300 council to drive Africa’s $300m electrification push

World Bank, AfDB and Rockefeller launch Mission 300 council to mobilize private capital and expand electricity access to 300 million…

Feyisayo Ajayi Feyisayo Ajayi
FCMB Capital Markets Limited, the investment banking arm of FCMB Group Plc.
BusinessHot News

FCMB Capital Markets leads FMDQ Sponsors’ league table in 2025 with $1.1 billion raised

According to FMDQ’s report, FCMB Capital Markets led sponsor contributions across both bond listings and commercial paper quotations.

Editorial Team Editorial Team
Kevin Ellerine investment portfolio
BusinessHot NewsTechnology

Inside South African investor Kevin Ellerine’s $108 million portfolio in telecom, property, stocks

Kevin Ellerine controls a $108 million portfolio spanning telecom, property, and equities, anchored by a $50 million Blu-Label Telecom stake.

Feyisayo Ajayi Feyisayo Ajayi
BusinessHot News

Dangote Refinery secures $4 billion loan as Afreximbank underwrites $2.5 billion

The financing adds fresh backing for the $20 billion complex built by Nigerian industrialist Aliko Dangote.

Omokolade Ajayi Omokolade Ajayi
Close-up of South African Airways aircraft.
BusinessHot News

African airlines seek lifelines: SAA bailout, Uganda $113M, Kenya $2B rescue

The airline framed the infusion as part of its growth and recovery efforts, but the Department of Transport, which oversees…

Omokolade Ajayi Omokolade Ajayi
Stanley Goetsch Dis-Chem resignation
BusinessHot News

Dis-Chem veteran Stanley Goetsch exits after 42 years, offloads $4.8 million stake

Dis-Chem director Stanley Goetsch exits after 42 years, selling $4.8 million in shares ahead of planned retirement.

Feyisayo Ajayi Feyisayo Ajayi
Nigerian billionaire Abdul Samad Rabiu
BusinessHot News

Nigerian billionaire Abdul Samad Rabiu to get N467 billion from BUA Foods’ record dividend

The dividend, scheduled to be paid electronically on July 15, represents the bulk of the total N504 billion ($364 million)…

Omokolade Ajayi Omokolade Ajayi
Oando Angola KON 13 block
BusinessHot News

Nigeria’s Oando secures Angola oil block to grow African operations

Oando secures Angola’s KON 13 block, taking 45% stake as it expands upstream and deepens Africa-focused oil production strategy.

Feyisayo Ajayi Feyisayo Ajayi
Remgro Mediclinic asset swap
BusinessHot News

Remgro, controlled by Johann Rupert, restructures Mediclinic stake in $950 million asset swap

Remgro and MSC’s IHL unwind Mediclinic joint venture in $950 million asset swap, refocusing ownership across Africa and Switzerland.

Feyisayo Ajayi Feyisayo Ajayi
Aveng board appointments
BusinessHot News

Aveng appoints Naidene Ford-Hoon, Graeme Bevans in board overhaul

Aveng appoints Ford-Hoon, Bevans to board, naming chairman designate as it strengthens governance and positions for long-term growth.

Feyisayo Ajayi Feyisayo Ajayi
Natie Kirsh, Eswatini and South African billionaire and majority owner of Jetro Holdings.
BusinessHot News

South African-born billionaire Natie Kirsh to sell U.S. business for $29.1 billion

The transaction will create one of the largest food-service groups in the United States.

Omokolade Ajayi Omokolade Ajayi
BusinessHot News

Kenya’s Makueni County gets new I&M Bank branch as group assets hit $5.3 billion

The move reflects the bank’s steady push to serve underserved markets while reinforcing its position among Kenya’s mid-tier financial institutions.

Omokolade Ajayi Omokolade Ajayi
Sirius Real Estate Kiel acquisition
BusinessHot NewsLuxury

Sirius Real Estate buys Kiel defence-anchored business park for $107 million

Sirius Real Estate buys Kiel business park for $107 million, anchored by defence giant Rheinmetall, boosting income and strategic portfolio.

Feyisayo Ajayi Feyisayo Ajayi
Sea Harvest Ladismith Cheese sale delay
BusinessHot News

Sea Harvest delays Ladismith Cheese sale to June 2026

Sea Harvest delays Ladismith Cheese sale to June 2026 as regulatory approvals from South Africa’s Competition Authority remain pending.

Feyisayo Ajayi Feyisayo Ajayi
Mohammed Dewji, Tanzania’s richest man and CEO of MeTL Group.
BusinessHot News

Tanzania’s richest man Mohammed Dewji loses $100 million after two-year surge

The recent decline reflects a reassessment of company valuations and changing global economic conditions that have affected privately held businesses…

Omokolade Ajayi Omokolade Ajayi
Van der Walt RMB Holdings stake
BusinessHot News

South African Van der Walt brothers boost RMB Holdings stake to $34 million

South African billionaires Faan and Dirk van der Walt boost RMB Holdings stake to $34 million, strengthening strategic influence.

Feyisayo Ajayi Feyisayo Ajayi
BillionairesBusinessHot News

Five new Black billionaires join global ranks in 2026

As representation grows, the expanding ranks of Black billionaires signal a broader shift in global wealth creation, one shaped by…

Omokolade Ajayi Omokolade Ajayi
African billionaires wealth
BillionairesBusinessHot News

How wealthy Africans structure wealth to survive divorce, death, and disputes

Africa’s ultra-wealthy structure wealth to survive divorce, death, and disputes, ensuring continuity across generations and crises.

Feyisayo Ajayi Feyisayo Ajayi
Baba Ahmadou Danpullo
BusinessHot News

Meet Cameroon’s richest man, Baba Ahmadou Danpullo, worth $900 million

Cameroon's richest man, Baba Ahmadou Danpullo, leads a vast empire spanning agriculture, telecoms, real estate, and cross-border trade.

GoWit and Publicis Media partner to scale retail media across MENA and Türkiye
BusinessTechnology

GoWit partners with Publicis to grow retail media across MENA and Africa

Retail media is gaining ground in the Middle East and Africa as brands look for more direct ways to reach shoppers. With e-commerce sales rising and digital ad budgets shifting toward performance channels, retailers and agencies are under pressure to prove results at the point of purchase.  That shift is prompting closer ties between global agency networks and retail-focused technology…

CIC Group profits falls
BusinessHot News

Kenya’s CIC Group profit falls to $4 million in 2025 amid margin pressure

CIC Group profit plunges 82% to $4 million in 2025 as rising costs squeeze insurance margins across East Africa.

Feyisayo Ajayi Feyisayo Ajayi
Malawi asset-based lending IFC project
BusinessHot News

IFC launches nearly half a million dollar project to strengthen Malawi SME credit

IFC launches $425,000 Malawi project to boost SME credit, strengthen asset-based lending and expand access for underserved entrepreneurs.

Feyisayo Ajayi Feyisayo Ajayi
Egypt dims Cairo nightlife as rising fuel costs force early closures
BusinessGlobal News

Egypt curbs Cairo nightlife to ease rising energy costs

Egypt is tightening energy use in Cairo, dimming its nightlife as rising fuel costs and regional tensions strain public finances and the power grid. Authorities have ordered earlier business closures and reduced street lighting, a notable shift for a city known for its late-night pace.  The move reflects growing pressure on Africa’s third-largest economy as higher global energy prices push…

Oluwatosin Alao Oluwatosin Alao
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