Mauritian resort group Lux Island Resorts
CompaniesBusinessHot News

Mauritian resort group Lux Island Resorts posts $33 million profit as tourism surges

The result gave the board room to raise the group’s total dividend by 20 percent.

Omokolade Ajayi Omokolade Ajayi
Kenyan executive Sarit Raja Shah
ExecutivesHot NewsMarkets

Kenyan executive Sarit Raja Shah’s I&M Group stake hits $25 million as shares double

His holding was worth KSh1.58 billion ($12.4 million) on Jan. 1, compared with about KSh3.2 billion ($25 million) currently.

Omokolade Ajayi Omokolade Ajayi
Lake Bunyoyi
TourismLatest

10 best places to visit in Uganda

Uganda offers gorilla trekking, wildlife safaris, scenic lakes, mountain hikes and cultural attractions across 10 destinations for travelers to explore.

Feyisayo Ajayi Feyisayo Ajayi
Alcazar Egypt
EnergyLatest

World Bank considers $120 million investment in Egypt’s 580MW Gabal El Zeit wind farm

World Bank’s coprivate sector arm, IFC, considers $120 million financing for Alcazar Energy’s acquisition of Egypt’s 580MW Gabal El Zeit…

Feyisayo Ajayi Feyisayo Ajayi
Touton IFC
InvestmentsLatest

IFC considers $10 million facility to support Touton’s Nigerian cocoa sourcing

IFC considers a $10 million facility to support Touton’s Nigerian cocoa sourcing, trade finance and traceable supply chain.

Feyisayo Ajayi Feyisayo Ajayi
Bridget Venner Willy Mertens Otto Shiongo
ExecutivesHot News

Debmarine Namibia CEO Willy Mertens named chairman of Skeleton Basin, 2 other veterans to board

Debmarine Namibia CEO Willy Mertens becomes chairman of Skeleton Basin as three industry veterans join the company’s newly strengthened board.

Feyisayo Ajayi Feyisayo Ajayi
Accelerate KPMG crescent
CompaniesBillionairesLatest

Accelerate Property Fund sells KPMG Crescent to reduce debt for $23.6 million

Accelerate Property Fund agrees to sell KPMG Crescent for $23.6 million, using proceeds to reduce debt and strengthen its balance…

Feyisayo Ajayi Feyisayo Ajayi
ProNutro
MarketsHot News

PepsiCo discontinues South Africa’s 64-year-old ProNutro after backlash

PepsiCo has discontinued South Africa’s 64-year-old ProNutro after consumer backlash over changes to the cereal’s taste, texture and mixability.

Feyisayo Ajayi Feyisayo Ajayi
Mauritius-based conglomerate Alteo Limited.
CompaniesBusinessHot News

Mauritian group Alteo sees 2026 profit surge 28% to $19.1 million on real estate

The earnings expansion prompted the company to raise its full-year dividend payout.

Omokolade Ajayi Omokolade Ajayi
Sayyu Dantata
BillionairesBusinessHot News

Sayyu Dantata, half-brother of Africa’s richest man, risks losing $35M aircraft fleet

The aircraft include a 2011 Beechcraft King Air 350i, serial number FL-750; a 2013 Gulfstream G550, serial number 5455; and…

Omokolade Ajayi Omokolade Ajayi
Anayo Okenwa
ExclusiveStartups

IFC proposes $8.6 million financing for Nigerian mini-grid developer Nayo Tropical Technology

IFC proposes $8.6 million in debt financing for Nayo Tropical Technology to develop 14 solar mini-grids across Nigeria.

Feyisayo Ajayi Feyisayo Ajayi
Devland
BusinessHot News

Gathoo brothers: Silent African millionaires building an FMCG empire through Devland 

Gathoo brothers, Mahomed and Shiraz Gathoo have built Devland into a growing South African FMCG empire spanning wholesale, retail and…

Feyisayo Ajayi Feyisayo Ajayi
Exxaro Eskom coal supply deal
InvestmentsLatest

M&G Investments slashes Exxaro stake by 13 million shares to $186 million

M&G Investments cuts its Exxaro stake by 13.1 million shares to $186.3 million as PIC raises its holding in the…

Feyisayo Ajayi Feyisayo Ajayi
Nigerian billionaire businessman and philanthropist Tony Elumelu.
BillionairesHot News

Nigerian billionaire Tony Elumelu says Africa cannot build economic growth on aid

He made the case on the sidelines of the United Nations General Assembly during the Darryl G. Behrman Lecture on…

Omokolade Ajayi Omokolade Ajayi
Durban-born executive Sayurie Naidoo
ExecutivesBusiness

Valterra rewards Durban-born executive Sayurie Naidoo with $1.1 million package in 2025

Her pay rose 62 percent from 11.18 million rand ($681,000) in 2024, reflecting higher incentives after the miner’s separation from…

Omokolade Ajayi Omokolade Ajayi
Habiba Ali
EntrepreneursLatest

Nigerian entrepreneur Habiba Ali’s Sosai targets 76 solar mini-grids with proposed $6 million IFC financing

Habiba Ali’s Sosai targets 76 solar mini-grids in northern Nigeria with proposed $6 million IFC financing to expand electricity access.

Feyisayo Ajayi Feyisayo Ajayi
Raya Holding Ostool deal
DigitalLatest

Raya Holding approves up to $60 million to fund Egyptian data center acquisition

Raya Holding has approved up to $60 million to fund a proposed Egyptian data center acquisition, subject to transaction and…

Feyisayo Ajayi Feyisayo Ajayi
Hassan Allam
InvestmentsLatest

Hassan Allam secures $32.1 million EBRD investment for Egypt water projects

Egyptian businessman Hassan Allam’s utilities business secures $32.1 million EBRD investment to expand water and desalination projects in Egypt.

Feyisayo Ajayi Feyisayo Ajayi
Most valuable banks on Ghana Stock Exchange
BankingLatest

Ecobank caps 40th anniversary with $2.6 billion commitment to women-led African businesses

Ecobank commits $2.6 billion by 2030 to finance women-led businesses and agriculture-focused SMEs across Africa.

Feyisayo Ajayi Feyisayo Ajayi
Jasper Musadaidzwa
MiningLatest

Kavango Resources narrows H1 loss as revenue rises above $2 million, new CEO takes over

Kavango Resources narrowed its H1 2026 loss as revenue rose to $2.03 million, while new CEO Jasper Musadaidzwa advanced its…

Feyisayo Ajayi Feyisayo Ajayi
L-R: Nnamdi Azubuike, AVP, Corporate Finance & Commercial Operations, and Pascal Eva, VP, Finance, Heirs Energies, at the EMEA Finance Project Finance Awards 2026 in London, where the company’s landmark US$750 million financing transaction was recognised as Best Oil & Gas Deal of the Year.
Hot NewsBusiness

Heirs Energies’ $750 million financing named best oil & gas deal of the year

Heirs Energies wins Best Oil and Gas Deal of the Year for its landmark $750 million financing, advancing long-term African energy security.

Cell C CEO Jorge Mendes
ExecutivesHot News

Cell C CEO Jorge Mendes buys $1.28 million in shares, lifting stake to $12.5 million

Cell C CEO Jorge Mendes has raised his direct holding to 8,442,187 shares valued at $12.53 million after completing a $1.28 million on-market purchase.

Mauritian resort group Lux Island Resorts
CompaniesBusinessHot News

Mauritian resort group Lux Island Resorts posts $33 million profit as tourism surges

Lux Island Resorts posts $32.6 million profit as stronger Mauritius tourism and lower financing costs lift earnings.

Omokolade Ajayi Omokolade Ajayi
Nigerian oil tycoon Abdulwasiu Sowami
EnergyCompaniesHot News

Nigerian oil tycoon targets Africa’s largest CNG producer 7 years after $200 million Otedola deal

Nigerian oil tycoon Abdulwasiu Sowami’s Ardova is leading a consortium to acquire Powergas, expanding its CNG business and targeting 100 refueling sites nationwide.

Omokolade Ajayi Omokolade Ajayi
Ghanaian executive Ebenezer Asante
ExecutivesBusinessHot News

MTN Ghana rally lifts Ghanaian executive Ebenezer Asante’s stake to $4.3 million

MTN Ghana’s 48.1% rally has lifted Ebenezer Asante’s stake to $4.3 million, up $1.22 million since January.

Omokolade Ajayi Omokolade Ajayi
Mauritius-based brewer and beverage maker Phoenix Beverages
CompaniesBusinessHot News

Mauritius’ Phoenix Beverages revenue jumps 26% to $355 million on regional expansion

Phoenix Beverages lifted revenue 26% to $355.3 million in fiscal 2026, driven by Seychelles Breweries, stronger Mauritius demand and regional expansion.

Omokolade Ajayi Omokolade Ajayi
Kenyan executive Sarit Raja Shah
ExecutivesHot NewsMarkets

Kenyan executive Sarit Raja Shah’s I&M Group stake hits $25 million as shares double

Sarit Raja Shah’s I&M Group stake reaches $25 million after the lender’s shares double on the Nairobi Securities Exchange.

Omokolade Ajayi Omokolade Ajayi
IMF
BusinessHot News

IMF holds more talks with Gabon on debt, fiscal reforms

Gabon moves closer to an IMF program as debt talks continue, with the country seeking reforms and $2 billion in planned 2027 market funding.

Oluwatosin Alao Oluwatosin Alao
Show More