Vision Group Tongaat liquidation assets
BusinessHot News

South African businessman Robert Gumede’s Vision Group to secure Tongaat assets ahead of liquidation hearing

Vision Group moves to secure Tongaat assets as liquidation hearing looms, aiming to protect creditor interests and preserve regional operations.

Feyisayo Ajayi Feyisayo Ajayi
Lowe’s Q1 2026 earnings
BusinessHot News

Lowe’s, led by Black executive Marvin Ellison, opens 2026 with $23 billion in sales as margins narrow

Lowe’s posts $23.1 billion Q1 2026 sales as margins narrow; online growth, Pro demand offset housing market pressure.

Feyisayo Ajayi Feyisayo Ajayi
Movit IFC financing deal
BusinessHot News

Ugandan entrepreneur Simpson Birungi’s Movit to receive $20 million backing for expansion

IFC is weighing up to $20 million for Uganda’s Movit Products to expand manufacturing into Tanzania and scale operations in…

Feyisayo Ajayi Feyisayo Ajayi
Shuka Minerals Kabwe zinc results
BusinessHot News

Shuka Minerals hits 65.7% zinc grade at Zambia’s Kabwe mine after takeover

Shuka Minerals hits 65.7% zinc at Zambia’s Kabwe mine, boosting resource expansion outlook and strengthening project economics.

Feyisayo Ajayi Feyisayo Ajayi
BusinessHot News

South Africa’s Eskom explores World Bank backing for multibillion-dollar nuclear build

The utility, which operates Africa’s only commercial nuclear plant near Cape Town, is preparing a request for information for as…

Omokolade Ajayi Omokolade Ajayi
Shameel Joosub, Group CEO of Vodacom
BusinessTechnology

Vodacom CEO Shameel Joosub pockets $2.4 million salary in 2025 

Vodacom CEO Shameel Joosub pockets $2.4 million in 2025, up 15%, as profits and Africa expansion drive growth.

Timilehin Adejumobi Timilehin Adejumobi
Nigerian billionaire Femi Otedola
BillionairesBusinessHot News

Nigerian billionaire Femi Otedola to pour part of $750 million warchest into Dangote Refinery

For Otedola, the planned $100 million refinery investment adds to an increasingly aggressive series of moves across Nigeria’s corporate sector.

Omokolade Ajayi Omokolade Ajayi
MTN Nigeria CEO pay 2025
BusinessHot News

CEO of MTN Nigeria Karl Toriola takes $3.5 million pay in 2025

MTN Nigeria CEO Karl Toriola’s pay jumps 61% to $3.5 million in 2025, driven by strong profit rebound and revenue…

Feyisayo Ajayi Feyisayo Ajayi
Mantengu Averi acquisition
BusinessHot News

Mantengu plans $120 million Averi asset acquisition in African energy push

Mantengu plans $120 million Averi acquisition to expand into African energy, digital infrastructure and diversify beyond mining.

Feyisayo Ajayi Feyisayo Ajayi
Aliko Dangote, Africa’s richest man and founder of the Dangote Group
BusinessHot News

Africa’s richest man Aliko Dangote advances $45 billion expansion with 10,000-hectare Nigerian port

Beyond its logistics function, the project is tied to wider regional trade plans under the African Continental Free Trade Area,…

Omokolade Ajayi Omokolade Ajayi
Hot NewsLuxury

Inside five-star Sankara Nairobi linked to Kenyan tycoon Baloobhai Patel

Sankara Nairobi leverages Westlands location, Marriott backing, and private ownership to sustain demand amid rising luxury hotel competition.

Feyisayo Ajayi Feyisayo Ajayi
Tony Elumelu with Awele Vivien Elumelu.
BillionairesBusinessExclusiveHot News

Tony and Awele Elumelu named on TIME100 Philanthropy list as TEF lifts 2.1 million Africans out of poverty

TEF reports that its initiatives have helped lift 2.1 million Africans above the poverty line and positively affected more than…

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

Nigerian billionaire Abdul Samad Rabiu’s net worth jumps $606 million in one day, nears $20 billion

Abdul Samad Rabiu’s net worth jumps $606 million in a day to $19.7 billion, driven by strong gains in BUA…

Omokolade Ajayi Omokolade Ajayi
NMB Bank $100 million IFC SME loan
BusinessHot News

Tanzania’s NMB Bank secures $100 million SME loan from World Bank arm 

NMB Bank secures $100 million IFC loan to expand SME lending, targeting women-owned businesses in Tanzania’s growing banking market.

Feyisayo Ajayi Feyisayo Ajayi
Balwin Properties take-private deal
BusinessHot News

South Africa’s Balwin to delist as PIC-backed consortium offers $67 million buyout 

Balwin set to go private in R1.12 billion ($67 million) deal, offering shareholders a premium exit amid liquidity challenges and…

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

Axian Telecom’s Oracle deal begins rollout as Yas moves to unify operations across Africa

The cloud-based deployment, developed in partnership with Oracle, will cover Yas and affiliated businesses including TowerCo of Africa, MVola, Mixx,…

Omokolade Ajayi Omokolade Ajayi
Kenya infrastructure investment fund
BusinessHot News

Spearhead Africa, led by Ngatia Kirungie, set for $27 million fund debut on Nairobi bourse

Nairobi Securities Exchange plans to list Spearhead Africa Infrastructure Fund, a $27 million vehicle unlocking capital for Kenya projects drive.

Feyisayo Ajayi Feyisayo Ajayi
DTB executives during the opening of the DTB Kilimani branch in Nairobi.
BusinessHot News

Kenya’s DTB reports strongest quarterly profit at $24.6 million in Q1 2026

Profit growth, however, was tempered by a sharp rise in loan loss provisions, which climbed 152 percent to KSh2.23 billion…

Omokolade Ajayi Omokolade Ajayi
Oando Plc, an indigenous African integrated energy company.
BusinessHot News

Oando nears $500 million market cap on rising oil revenue outlook

To support expansion and future acquisitions, Oando is also preparing a capital raise of up to $750 million over the…

Omokolade Ajayi Omokolade Ajayi
Naivas supermarket exterior featuring storefront branding, customer entrance, and modern retail expansion in Kenya.
BusinessHot News

Naivas expands retail network to 114 stores nationwide in Kenya as expansion continues

The latest openings lift the chain from 112 stores at the end of 2025, when it launched its Mihango branch…

Omokolade Ajayi Omokolade Ajayi
NMB Bank Agrobond
BusinessHot News

NMB Bank secures a $15 million agrobond to boost Zimbabwe’s agriculture

NMB Bank raises $15 million agrobond to fund Zimbabwean farmers, boost agriculture, and strengthen rural livelihoods.

Billionaires bet big on Africa’s infrastructure
BusinessHot News

Why African tycoons are increasingly investing in logistics and ports

African billionaires and global players are investing heavily in logistics and ports as trade and AfCFTA reforms reshape the continent’s economy.

Vision Group Tongaat liquidation assets
BusinessHot News

South African businessman Robert Gumede’s Vision Group to secure Tongaat assets ahead of liquidation hearing

Vision Group moves to secure Tongaat assets as liquidation hearing looms, aiming to protect creditor interests and preserve regional operations.

Feyisayo Ajayi Feyisayo Ajayi
Lowe’s Q1 2026 earnings
BusinessHot News

Lowe’s, led by Black executive Marvin Ellison, opens 2026 with $23 billion in sales as margins narrow

Lowe’s posts $23.1 billion Q1 2026 sales as margins narrow; online growth, Pro demand offset housing market pressure.

Feyisayo Ajayi Feyisayo Ajayi
Eurobond
BusinessHot News

Angola raises $1.5 billion in fresh Eurobond deal amid Africa funding push

Angola raises $1.5bn in its second Eurobond of 2026 amid strong investor demand and renewed Africa funding momentum.

Timilehin Adejumobi Timilehin Adejumobi
Ecobank & AfCFTA
BusinessHot News

AfCFTA Secretariat, Ecobank sign deal to boost intra-African trade, SMEs  

AfCFTA and Ecobank sign deal to boost intra-African trade and SME finance, supporting $3 billion funding for Africa’s regional markets.

Timilehin Adejumobi Timilehin Adejumobi
Afentra expands Angola oil drilling plans, targeting offshore discoveries and Kwanza Basin wells by 2027.
BusinessTechnology

Afentra targets Angola exploration wells by 2027, eyes Africa oil growth

Afentra plc is stepping up its expansion plans in Angola as higher crude prices and renewed interest in African energy assets improve the outlook for exploration across the region.  The company, which recently ended takeover talks with potential buyers, is turning its attention to both offshore discoveries and onshore drilling prospects in Angola, sub-Saharan Africa’s second-largest oil producer. The move…

Oluwatosin Alao Oluwatosin Alao
Finergreen
BusinessHot News

Finergreen exits Africa as local teams take over operations

Finergreen exits Africa, selling operations in Abidjan, Nairobi and Cape Town as local teams launch Amara and Honeywood brands.

Timilehin Adejumobi Timilehin Adejumobi
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