BusinessHot News

After $555 million profit, Equity targets Angola, Zambia, Mozambique acquisitions

The group is considering acquisitions in Southern Africa, with Angola, Zambia, and Mozambique central to its next move.

Omokolade Ajayi Omokolade Ajayi
Michael Ade-Ojo Custodian stake
BusinessHot News

Nigerian auto magnate Michael Ade-Ojo’s stake in Custodian Investment tops $70 million

Michael Ade-Ojo’s stake in Custodian Investment surpasses $70 million as dividend strength fuels rising investor demand on Nigeria’s stock market.

Feyisayo Ajayi Feyisayo Ajayi
MTN Group logo, representing the pan-African telecom operator.
BusinessHot NewsTechnology

MTN Nigeria’s Q1 2026 profit nearly triples to $258 million on data demand surge

The performance reflects higher revenue, tighter cost control, and steady investment in its network.

Omokolade Ajayi Omokolade Ajayi
Luvuyo Masinda earnings jump
BusinessHot News

South African executive Luvuyo Masinda sees earnings jump 251% to nearly $3 million in 2025

Standard Bank executive Luvuyo Masinda’s earnings jumped 251% to $2.66 million in 2025 after his promotion to lead corporate banking.

Feyisayo Ajayi Feyisayo Ajayi
Choppies retail expansion strategy Africa
BusinessHot News

How Choppies’ founder Ramachandran Ottapathu built a regional retail empire across Southern Africa

Retail entrepreneurs can learn scaling discipline from Choppies founder Ramachandran Ottapathu’s mass-market, supply-driven strategy.

Feyisayo Ajayi Feyisayo Ajayi
TPS Eastern Africa
BusinessHot News

Parent of Serena Hotels sees profit decline to $6.1 million as FX gains fade in Kenya

TPS Eastern Africa profit falls 40% to $6.1 million as FX gains fade, while revenue remains stable amid tourism resilience…

Feyisayo Ajayi Feyisayo Ajayi
BusinessHot News

South Africa’s Clientèle plans JSE exit amid low liquidity with premium share offer

Clientele plans JSE delisting with R19.9 ($1.18) share buyback, offering a 25.47% premium to unlock shareholder value.

Feyisayo Ajayi Feyisayo Ajayi
Capitec Bank dividend payout
BillionairesBusinessHot News

South African billionaire Tshepo Mahloele to pocket $22 million dividend after $840 million stake sale

Tshepo Mahloele eyes $22 million payout as Capitec Bank lifts dividend on strong earnings and rising customer activity.

Feyisayo Ajayi Feyisayo Ajayi
Nigerian billionaire Abdul Samad Rabiu
BillionairesBusinessHot News

Nigerian billionaire Abdul Samad Rabiu gains N2.7 trillion this week from BUA Cement shares

The gain places him as the biggest mover on the NGX this week, reinforcing his standing among Africa’s richest individuals…

Omokolade Ajayi Omokolade Ajayi
African tech unicorns
BusinessHot News

10 most valuable companies on Johannesburg Stock Exchange

For investors, these 10 companies profiled by Shore Africa represent a blend of stability, growth, and exposure to Africa’s long-term…

Feyisayo Ajayi Feyisayo Ajayi
BusinessHot News

Seplat Energy’s Q1 2026 profit rises to $37.9 million on higher oil prices

Seplat Energy, Nigeria’s largest listed energy producer, counts Nigerian billionaire Tony Elumelu as its biggest shareholder through Seplat Energy.

Omokolade Ajayi Omokolade Ajayi
UAC of Nigeria earnings report
BusinessHot News

UAC of Nigeria posts $10 million Q1 profit as CHI boosts revenue under Fola Aiyesimoju

UAC of Nigeria posts $10m profit, revenue triples as C.H.I. acquisition drives strong Q1 2026 consumer goods growth.

Feyisayo Ajayi Feyisayo Ajayi
BillionairesBusinessHot News

South African billionaire Koos Bekker hit by $500 million loss in share slide

The drop follows a steady slide in the shares of Naspers and its Amsterdam-listed unit Prosus, two companies central to…

Omokolade Ajayi Omokolade Ajayi
GTCO logo represented as a modular corporate structure highlighting its diversified financial services group.
BusinessHot News

GTCO’s Q1 profit slips to $158 million as valuation losses, higher taxes weigh on earnings

Despite the dip in quarterly profit, the group’s financial position strengthened. Total assets rose to N18.75 trillion ($13.63 billion) from…

Omokolade Ajayi Omokolade Ajayi
Aliko Dangote, Africa’s richest man and founder of Dangote Group.
BillionairesBusinessHot News

Nigerian billionaire Aliko Dangote’s Dangote Cement posts $233 million profit in Q1 2026

The Lagos-based cement maker reported profit of N321.1 billion ($233.8 million) for the three months ended March 31, up from…

Omokolade Ajayi Omokolade Ajayi
Africa supply chain finance facility
BusinessHot News

World Bank Group, Standard Chartered launch $300M Africa trade finance facility

Standard Chartered launch a $300 million facility to boost supply chain finance and ease SME liquidity constraints across Africa.

Feyisayo Ajayi Feyisayo Ajayi
Nigerian billionaire Abdul Samad Rabiu
BusinessHot News

Nigerian billionaire Abdul Samad Rabiu’s BUA Foods posts $103 million Q1 profit

The figures, drawn from the company’s unaudited financial statement, show steady earnings growth driven largely by improved margins rather than…

Omokolade Ajayi Omokolade Ajayi
Botswana Stock Exchange overview
BusinessHot News

Botswana’s top 5 listed companies above $500 million by market value

Botswana Stock Exchange tops $70 billion as five giants in mining, banking, and trade drive liquidity, growth, and regional investor…

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

Johannesburg-born banker Kenny Fihla takes $7.6 million pay from Absa in 2025

The payout reflects the scale of his transition between two of the continent’s biggest financial institutions.

Omokolade Ajayi Omokolade Ajayi
KoBold Metals’ Quebec exploration site, part of its North American push into lithium and nickel critical minerals for global energy transition supply chains.
BusinessHot News

Bill Gates-backed firm breaks ground on $2.5bn Zambia copper mine after $50m Congo lithium bet

The start of work at Mingomba comes just weeks after the company disclosed plans to invest $50 million in lithium…

Omokolade Ajayi Omokolade Ajayi
European Investment Bank renewable energy Africa
BusinessHot News

European Investment Bank funds Namibia lithium expansion at Uis Mine with $2.4 million

EIB backs Andrada Mining with $2.4 million to advance Namibia’s Uis lithium expansion, boosting EU battery supply ambitions.

A wide mix of countries has confirmed official participation, underlining the continent’s range.
BusinessTourism

African nations expand footprint at FITUR 2026 tourism fair

At a Glance Africa is preparing a broader and more unified presence at FITUR 2026, one of the world’s leading travel trade fairs, as countries across the continent step up efforts to draw tourists, investors and airline partners. The event, set for January in Madrid, comes as European interest in African travel shows renewed strength.  Improving air links, wider travel…

BusinessHot News

After $555 million profit, Equity targets Angola, Zambia, Mozambique acquisitions

After over $555 million profit in 2025, Equity Group eyes Angola, Zambia and Mozambique acquisitions as regional expansion accelerates.

Omokolade Ajayi Omokolade Ajayi
Michael Ade-Ojo Custodian stake
BusinessHot News

Nigerian auto magnate Michael Ade-Ojo’s stake in Custodian Investment tops $70 million

Michael Ade-Ojo’s stake in Custodian Investment surpasses $70 million as dividend strength fuels rising investor demand on Nigeria’s stock market.

Feyisayo Ajayi Feyisayo Ajayi
MTN Group logo, representing the pan-African telecom operator.
BusinessHot NewsTechnology

MTN Nigeria’s Q1 2026 profit nearly triples to $258 million on data demand surge

MTN Nigeria's Q1 2026 profit nearly triples to $258 million as data demand, revenue and network investment drive strong growth.

Omokolade Ajayi Omokolade Ajayi
Fresh investors enter Madagascar’s Ambatovy nickel mine after Sumitomo exit
BusinessTechnology

Fresh investors eye Madagascar nickel mine after Sumitomo exit

Global investors are taking a closer look at Africa’s critical minerals sector as demand for battery metals continues to rise and supply chains remain tight. Nickel, used in electric vehicle batteries and stainless steel, has regained attention among commodity traders and mining investors. That shift in sentiment has placed Madagascar’s Ambatovy nickel project back in focus following a change in…

Oluwatosin Alao Oluwatosin Alao
Luvuyo Masinda earnings jump
BusinessHot News

South African executive Luvuyo Masinda sees earnings jump 251% to nearly $3 million in 2025

Standard Bank executive Luvuyo Masinda’s earnings jumped 251% to $2.66 million in 2025 after his promotion to lead corporate banking.

Feyisayo Ajayi Feyisayo Ajayi
Choppies retail expansion strategy Africa
BusinessHot News

How Choppies’ founder Ramachandran Ottapathu built a regional retail empire across Southern Africa

Retail entrepreneurs can learn scaling discipline from Choppies founder Ramachandran Ottapathu’s mass-market, supply-driven strategy.

Feyisayo Ajayi Feyisayo Ajayi
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