Aerial view of LUX Grand Baie in Mauritius, a flagship property of LUX Island Resorts under IBL Group’s luxury hospitality and tourism expansion strategy.
BusinessHot NewsLuxury

LUX Island Resorts posts $191 million revenue, higher profit in 9M 2026

Profit for the period increased to MUR1.21 billion ($25.9 million) from MUR1.06 billion ($22.66 million) in the prior year.

Omokolade Ajayi Omokolade Ajayi
UBA House Marina in Lagos, the headquarters of United Bank for Africa.
BusinessHot News

UBA plans 2026 dividend return as loan recovery efforts gain pace

Alawuba said the decision to pause the final dividend followed a directive from the Central Bank of Nigeria requiring lenders…

Omokolade Ajayi Omokolade Ajayi
ARM Boliden nickel offtake deal
BusinessHot News

South African billionaire Patrice Motsepe’s ARM signs Boliden nickel deal to restart Nkomati mine

ARM signs nickel offtake deal with Boliden, advancing plans to restart South Africa’s Nkomati mine and secure European supply chain…

Feyisayo Ajayi Feyisayo Ajayi
Stanbic IBTC Q1 2026 profit
BusinessHot News

Nigeria’s Stanbic IBTC Holdings opens 2026 with $84 million profit

Stanbic IBTC posts $84 million Q1 2026 profit, driven by trading gains, rising fees, and strong non-interest income growth.

Feyisayo Ajayi Feyisayo Ajayi
CAP Plc profit growth
BusinessHot News

Nigeria’s CAP Plc crosses $1 million Q1 profit mark for the first time, under Folasope Aiyesimoju

Nigeria’s CAP Plc crossed $1M Q1 2026 profit for first time, driven by 38% earnings growth under chairman Folasope Aiyesimoju…

Feyisayo Ajayi Feyisayo Ajayi
Axian Telecom advances digital operations across Africa through cloud transformation and telecom expansion in nine markets.
BusinessHot NewsTechnology

Axian Telecom taps $500 billion U.S. software giant, Oracle, to modernize African operations

Oracle, which has expanded its position in AI-driven enterprise software and cloud services, will provide the digital backbone Axian Telecom…

Omokolade Ajayi Omokolade Ajayi
Sa’adat Mohammed investment loss
BusinessHot News

Nigerian lawyer Sa’adat Mohammed’s Jaiz Bank stake slips below $30 million amid delays in audited report

Sa’adat Mohammed’s Jaiz Bank stake drops below $30 million as share slump and delayed 2025 results weigh on investor confidence.

Feyisayo Ajayi Feyisayo Ajayi
Nigerian billionaire Abdul Samad Rabiu
BillionairesBusinessHot News

Nigerian billionaire Abdul Samad Rabiu’s net worth hits $14 billion

Rabiu, who founded BUA Group, holds major stakes in two of Nigeria’s largest listed manufacturers: BUA Cement and BUA Foods.

Omokolade Ajayi Omokolade Ajayi
BusinessHot News

Transcorp Power posts $22 million Q1 profit, assets top $450 million

The company’s unaudited results for the period ended March 31 show total assets rising above $450 million, underlining balance-sheet growth.

Omokolade Ajayi Omokolade Ajayi
Johann Rupert, chairman of Richemont and Remgro Limited.
BillionairesBusinessHot News

South Africa’s richest man, Johann Rupert, loses $900 million as Richemont shares fall

The drop has pushed him out of the world’s top 150 richest individuals, according to the Bloomberg Billionaires Index.

Omokolade Ajayi Omokolade Ajayi
Ninety One MTN stake increase
BusinessHot News

Ninety One joins top investors in MTN Group with more than $1 billion stake

Ninety One lifts MTN stake above $1 billion, joining top shareholders as investor confidence in Africa’s telecom giant strengthens.

Feyisayo Ajayi Feyisayo Ajayi
Narok County
Hot NewsTourism

Tourism dispute emerges in Kenya’s Narok County as MGM Muthu flags access concerns

MGM Muthu flags restricted resort access in Kenya’s Narok County, citing a land dispute that disrupted operations and affected international…

Feyisayo Ajayi Feyisayo Ajayi
One of UBA's branches, representing the bank’s retail banking network across its pan-African operations.
BusinessHot News

UBA posts $591 million gross earnings in Q1 2026 as recovery gains pace

The bank’s gross earnings for the three months ended March 2026 climbed to N801.46 billion ($591.1 million), up from N764.31…

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

Kenny Fihla: Johannesburg-born banker leading $125 billion pan-African banking giant, Absa Group

Kenny Fihla’s leadership sits at the intersection of decades of public sector experience, investment banking execution, and regional financial oversight.

Omokolade Ajayi Omokolade Ajayi
Tanganyika Province in the Democratic Republic of the Congo, a mineral-rich region contributing to the country’s mining-driven economic expansion.
BusinessHot News

World’s top cobalt producer, Congo, unveils $100 million US-backed guard for mine security

The program, announced by the country’s mines inspectorate, is being financed through a $100 million arrangement supported by the U.S.…

Omokolade Ajayi Omokolade Ajayi
Sun Pharma Organon acquisition
BusinessHot News

Sun Pharma’s $11.75 billion Organon deal set to reshape Kenyan drug market

Sun Pharma’s $11.75 billion Organon deal reshapes global pharma, with ripple effects for Kenya’s drug access and pricing dynamics.

Feyisayo Ajayi Feyisayo Ajayi
alt="Saki Macozoma mining empire">
BusinessHot News

Saki Macozoma’s rise: Prisoner to mining mogul in South Africa

Saki Macozoma rose from Robben Island prisoner to mining mogul, shaping South Africa’s post-apartheid business and investment landscape.

Feyisayo Ajayi Feyisayo Ajayi
CIC Group debt repayment
BusinessHot News

Kenya’s CIC Group clears $10.3 million Co-operative Bank debt to boost East Africa growth

CIC Group repays $10.3 million Co-operative Bank loan, cutting debt, boosting solvency and positioning for growth across East Africa.

Feyisayo Ajayi Feyisayo Ajayi
Tanzania deep-sea fishing vessel
BusinessHot News

Tanzania launches $7.68 million deep-sea vessel to revive state fishing firm, curb illegal catch losses

Tanzania launches $7.68 million deep-sea vessel to revive TAFICO, curb illegal fishing losses and boost blue economy drive in Dar…

Feyisayo Ajayi Feyisayo Ajayi
Aiyesimoju NGX portfolio growth
BusinessHot News

Nigeria’s youngest dealmaker Folasope Aiyesimoju closes in on $150 million NGX portfolio value

Folasope Aiyesimoju, Nigeria’s youngest dealmaker, nears $150 million NGX portfolio value as UACN and CAP rally adds nearly $50 million…

Feyisayo Ajayi Feyisayo Ajayi
KCB BANK
BusinessHot News

KCB Group backs Kenya leather industry with new strategic partnerships

KCB signs deals to unlock Kenya’s leather sector, boosting exports and SME financing

Cloud 7 Residence - Kerten Hospitality
LuxuryTourism

Kerten Hospitality opens luxury Cloud 7 Dersa Tetouan in Morocco

Luxury Cloud 7 Dersa Tetouan blends Moroccan heritage, modern design, and cultural tourism in Tetouan’s historic Dersa landmark.

Refinery
BusinessHot News

Uganda eyes fresh oil licensing round to boost energy investment

Uganda prepares a new oil licensing round in 2026, opening fresh blocks to investors as it targets production growth and reserves expansion.

Timilehin Adejumobi Timilehin Adejumobi
Aerial view of LUX Grand Baie in Mauritius, a flagship property of LUX Island Resorts under IBL Group’s luxury hospitality and tourism expansion strategy.
BusinessHot NewsLuxury

LUX Island Resorts posts $191 million revenue, higher profit in 9M 2026

LUX Island Resorts posts $191 million revenue in 9M 2026, with higher profit, stronger occupancy, and asset base rising to $437 million.

Omokolade Ajayi Omokolade Ajayi
Zanzibar plans national airline
BusinessTourism

Zanzibar plans national airline to boost tourism growth    

Zanzibar is exploring a national airline to ease travel access, attract global investors and strengthen tourism growth.

Timilehin Adejumobi Timilehin Adejumobi
Nthabeleng Likotsi, founder of eNL Mutual Bank
BusinessExclusive

Meet Nthabeleng Likotsi: South Africa’s first Black female bank owner

Nthabeleng Likotsi becomes South Africa’s first Black woman bank owner, leading eNL Mutual Bank’s push for financial inclusion.

Timilehin Adejumobi Timilehin Adejumobi
UBA House Marina in Lagos, the headquarters of United Bank for Africa.
BusinessHot News

UBA plans 2026 dividend return as loan recovery efforts gain pace

UBA targets 2026 dividend return as loan recoveries improve after a N331 billion ($241.3 million) provision hit 2025 profit.

Omokolade Ajayi Omokolade Ajayi
ARM Boliden nickel offtake deal
BusinessHot News

South African billionaire Patrice Motsepe’s ARM signs Boliden nickel deal to restart Nkomati mine

ARM signs nickel offtake deal with Boliden, advancing plans to restart South Africa’s Nkomati mine and secure European supply chain access.

Feyisayo Ajayi Feyisayo Ajayi
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