BusinessHot News

South African billionaire Christo Wiese to receive $11.3 million dividend from Shoprite

Christo Wiese owns a 10.67 percent stake in Shoprite, totaling 63,118,920 ordinary shares valued at more than $1 billion.

Omokolade Ajayi Omokolade Ajayi
BusinessHot News

Algeria, Spain in advanced talks to expand natural gas delivery

The proposed increase echoes past reliance on Algerian gas. In 2022, Europe turned to Algeria after diplomatic tensions with Morocco…

Omokolade Ajayi Omokolade Ajayi
Folorunso Alakija, Nigeria’s richest woman and philanthropist.
BusinessHot News

Nigeria’s richest woman, Folorunso Alakija, unveils $1 million grant for women

The initiative will provide funding, training and mentorship to selected participants, with applications open until April 12.

Omokolade Ajayi Omokolade Ajayi
Accelerate Property Fund
BusinessHot News

Accelerate Property Fund advances $117 million restructuring, boosts Fourways Mall after Michael Georgiou’s exit

Accelerate Property Fund invests $116.5 million in Fourways Mall upgrades, cuts vacancies, and reshapes retail portfolio after founder exit.

Feyisayo Ajayi Feyisayo Ajayi
Sam Ngumeni, incoming CEO of Woolworths Holdings, awarded $3 million in shares
BusinessHot News

Woolworths awards $3 million shares to incoming CEO Sam Ngumeni

The move reflects both his loyalty to the company, where he has served for over three decades, and the expectations…

Omokolade Ajayi Omokolade Ajayi
IFC SONOCO poultry Guinea
BusinessHot News

Guinean businessman Abdoul Karim Diallo gets $20 million to build country’s first poultry platform

IFC backs SONOCO with $20 million to build Guinea’s first integrated poultry platform, boosting food security and cutting imports.

Feyisayo Ajayi Feyisayo Ajayi
Air Algerie fleet expansion with new aircraft.
BusinessHot News

Just as Uganda Airlines gets $113 million, Air Algerie orders 10 Boeing 737 MAX 8

Uganda Airlines secures $113 million funding as Air Algerie orders 10 Boeing 737 MAX 8, signaling African aviation expansion.

Omokolade Ajayi Omokolade Ajayi
Atedo Peterside Stanbic IBTC stake
BillionairesBusinessHot News

Nigerian tycoon Atedo Peterside’s Stanbic IBTC stake nears $25 million on 2026 share surge

Atedo Peterside’s Stanbic IBTC stake nears $25 million as shares surge, driven by strong earnings and renewed investor demand.

Feyisayo Ajayi Feyisayo Ajayi
Gulf Energy Kenya oilfields
BillionairesBusinessHot News

Gulf Energy clears $30.8 million payment to Tullow, takes helm of Kenya’s oilfields

Gulf Energy completes $30.8 million payment to Tullow, gaining full control of Kenya’s Turkana oilfields and first oil prospects.

Feyisayo Ajayi Feyisayo Ajayi
Dangote refinery fuel price increase
BusinessHot News

As petrol rises 84% in Nigeria, Dangote refinery sends fuel to Ghana, 4 others

While raising its gantry price at home, the refinery is expanding exports, sending cargoes to Ghana, Cameroon, Côte d’Ivoire, Tanzania…

Omokolade Ajayi Omokolade Ajayi
IFC Mali agribusiness financing
BusinessHot News

IFC backs $22 million Mali agribusiness project with blended financing support

IFC plans €13 million ($15 million) financing for Mali wheat mill, boosting food security, local processing and climate-aligned infrastructure.

Feyisayo Ajayi Feyisayo Ajayi
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
Anglo American moves to delist shares from SIX Swiss Exchange
BusinessHot News

Anglo American moves to delist shares from SIX Swiss Exchange

Anglo American will delist shares from the SIX Swiss Exchange on June 26, citing low trading volumes as it prepares to merge with Teck Resources.

Africa’s premium universities
BusinessHot News

20 most expensive universities in Africa

Africa’s top 20 expensive universities offer small classes, modern facilities, global exposure, and premium education for high-paying students.

BusinessHot News

South African billionaire Christo Wiese to receive $11.3 million dividend from Shoprite

South African billionaire Christo Wiese to receive $11.3 million interim dividend from Shoprite for his 10.67% stake.

Omokolade Ajayi Omokolade Ajayi
BusinessHot News

Algeria, Spain in advanced talks to expand natural gas delivery

Spain and Algeria discuss boosting natural gas supply by 10 percent through the Medgaz pipeline.

Omokolade Ajayi Omokolade Ajayi
Bond
BusinessHot News

Ghana to sell 7-year bond, first since debt overhaul

Ghana returns to bond markets with a 7-year note after debt overhaul

Timilehin Adejumobi Timilehin Adejumobi
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