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UK, IFC sign $3.1 million deal to expand agribusiness financing in DR Congo

UK and IFC have signed a $3.1 million deal to expand agribusiness financing in DR Congo, boosting credit access for…

Feyisayo Ajayi Feyisayo Ajayi
BusinessHot News

Kenya’s Uchumi Supermarkets flags $55 million insolvency ahead of first AGM in eight years

Uchumi Supermarkets, under restructuring, says it is Ksh7.05 billion ($55 million) insolvent as of June 2025, signaling financial strain ahead…

Feyisayo Ajayi Feyisayo Ajayi
Tharisa Karo Platinum Zimbabwe
BusinessHot News

South Africa’s Tharisa advances $391 million to complete phase 1 of Karo project in Zimbabwe

Tharisa nears full financing for its $391 million Karo Platinum project in Zimbabwe, targeting first production by H2 2027.

Feyisayo Ajayi Feyisayo Ajayi
OCP workers operating at a phosphate production facility in Morocco.
BusinessHot News

Morocco’s OCP raises $1.5 billion in first international hybrid bond

The transaction was split into two tranches, offering investors different maturities and yields.

Omokolade Ajayi Omokolade Ajayi
Dangote refinery fuel price increase
BusinessHot News

Aliko Dangote’s $50 billion refinery IPO set to create Africa’s most valuable company

A listing at the upper end of the $50 billion valuation range would lift the Nigerian Exchange’s total market cap…

Omokolade Ajayi Omokolade Ajayi
Ecobank 2025 financial results
BusinessHot News

Ecobank posts $594 million profit amid surging returns in 2025

Ecobank posts $594 million profit in 2025 as revenue rises 17%, driven by diversification, digital growth and strong execution.

Feyisayo Ajayi Feyisayo Ajayi
Nigerian billionaire businessman Tony Elumelu.
BillionairesBusinessHot News

Elumelu’s Heirs Energies Holds $800m Seplat Stake as Stock Hits Historic N10,000

Seplat closed trading on April 14 at N10,450 per share, becoming the first company in the Nigerian Exchange's 65-year history…

Editorial Team Editorial Team
Emira Octodec stake increase
BusinessHot News

South Africa’s Emira Property Fund raises Octodec stake with $40.2 million cash offer

Emira Property Fund lifts Octodec stake, launches cash offer to reach 34.9%, signaling deeper push into South Africa’s listed property…

Feyisayo Ajayi Feyisayo Ajayi
Talaat Moustafa Group market value growth
BusinessHot News

TMG hits $3.4 billion in market capitalization, becomes Africa’s second-largest listed REIT

TMG adds $300 million in value as profit jumps 42%, driven by record sales, SouthMED growth and regional expansion.

Feyisayo Ajayi Feyisayo Ajayi
Ezz Steel Algeria expansion
BusinessHot News

Egypt’s Ezz Steel eyes $780 million Algeria expansion to boost regional footprint

Ezz Steel plans a $780 million Algeria expansion, boosting exports, capacity growth, and North Africa’s industrial footprint.

Feyisayo Ajayi Feyisayo Ajayi
Wema Bank insider loan
BusinessHot News

Wema Bank reports N105 million insider loan linked to gaming tycoon Kessington Adebutu

Wema Bank discloses N105.84 million ($78,647) insider loan tied to Kessington Adebutu, highlighting related-party exposure and strong 2025 financial growth.

Feyisayo Ajayi Feyisayo Ajayi
BusinessHot News

Africa Bitcoin Corporation restructures Bambanani amid rising losses

Africa Bitcoin Corporation is restructuring Bambanani Family Group amid widening losses, closing Melville and pivoting to digital food sales.

Feyisayo Ajayi Feyisayo Ajayi
Citi boost South Africa financing
BusinessHot News

IFC, Citi seal $98 million deal to boost local currency financing in South Africa

IFC and Citigroup seal $98 million rand facility to expand local currency financing and reduce volatility risks in South Africa.

Feyisayo Ajayi Feyisayo Ajayi
Russell Crawford Stefanutti Stocks salary
BusinessHot News

Russell Crawford pockets $1.9 million as Stefanutti Stocks profit surges 727% in 2025

Russell Crawford earns $1.01 million as Stefanutti Stocks CEO, driven by incentives and strong 2025 profit growth.

Feyisayo Ajayi Feyisayo Ajayi
Shell logo on a fuel nozzle at a retail station.
BusinessHot News

Shell in $1 billion talks to sell South African fuel outlets to UAE’s ADNOC

ADNOC has emerged as the preferred bidder after negotiations between Shell and commodity trader Gunvor Group collapsed.

Omokolade Ajayi Omokolade Ajayi
BusinessHot News

Nigeria-Morocco $25 billion gas pipeline nears deal as 13 nations join

The pipeline is designed to transport up to 30 billion cubic meters of gas annually, with 15 billion cubic meters…

Omokolade Ajayi Omokolade Ajayi
BusinessHot News

Kenya’s biggest opposition leader, Raila Odinga family shifts Be Energy stake offshore

Odinga family shifts 35% Be Energy stake offshore to BVI entity, signaling ownership restructuring and regional investment strategy shift.

Feyisayo Ajayi Feyisayo Ajayi
IFC Nitron fertilizer trade finance
BusinessGlobal NewsHot News

IFC weighs $30 million trade finance backing for Nitron to boost global fertilizer flows

IFC weighs $30 million backing for Nitron trade facility to boost fertilizer supply chains, food security, and agricultural resilience.

Feyisayo Ajayi Feyisayo Ajayi
Margaret Nienaber salary
BusinessHot News

Standard Bank COO Margaret Nienaber earns $4.4 million salary in 2025

Margaret Nienaber earns $4.4 million in 2025 as Standard Bank rewards strong performance and sustained growth across African markets.

Feyisayo Ajayi Feyisayo Ajayi
Kenya's Moi family wealth
BusinessHot News

How Moi family built institutional wealth strategy across Kenya’s economy

Moi family pivots from land wealth to institutional influence, reshaping Kenya’s economic power structure.

Feyisayo Ajayi Feyisayo Ajayi
Weakest currencies in Africa
BusinessHot News

Africa’s 7 weakest currencies over the past year

Several African currencies have plunged as inflation, deficits, and weak central banks erode investor confidence.

UBA Group partnership
BusinessGlobal NewsHot News

UBA Group, BII partner to unlock trade finance across Africa

UBA, BII join to expand trade finance across Africa, bridging $80 billion gap and boosting SMEs via AfCFTA opportunities.

BusinessGlobal NewsHot News

UK, IFC sign $3.1 million deal to expand agribusiness financing in DR Congo

UK and IFC have signed a $3.1 million deal to expand agribusiness financing in DR Congo, boosting credit access for farmers and SMEs sector.

Feyisayo Ajayi Feyisayo Ajayi
BusinessHot News

Kenya’s Uchumi Supermarkets flags $55 million insolvency ahead of first AGM in eight years

Uchumi Supermarkets, under restructuring, says it is Ksh7.05 billion ($55 million) insolvent as of June 2025, signaling financial strain ahead of AGM.

Feyisayo Ajayi Feyisayo Ajayi
Stellantis, Microsoft expand 5-year AI deal for cloud and car tech push
BusinessTechnology

Stellantis, Microsoft strike 5-year AI deal with Africa in focus

Stellantis and Microsoft have agreed to a five-year partnership that deepens their collaboration in artificial intelligence, cloud computing, and cybersecurity. The companies say the deal is aimed at reshaping how Stellantis designs, builds, and manages vehicles as the auto industry moves further into software-led systems.  The agreement reflects a broader push by global carmakers to rely more heavily on technology…

Oluwatosin Alao Oluwatosin Alao
Tharisa Karo Platinum Zimbabwe
BusinessHot News

South Africa’s Tharisa advances $391 million to complete phase 1 of Karo project in Zimbabwe

Tharisa nears full financing for its $391 million Karo Platinum project in Zimbabwe, targeting first production by H2 2027.

Feyisayo Ajayi Feyisayo Ajayi
OCP workers operating at a phosphate production facility in Morocco.
BusinessHot News

Morocco’s OCP raises $1.5 billion in first international hybrid bond

OCP raises $1.5 billion hybrid bond, attracting about $7 billion in orders from global investors across 23 countries.

Omokolade Ajayi Omokolade Ajayi
South Africa's Biovac
BusinessHot News

South Africa’s Biovac lands $89 million to expand Africa vaccine production capacity

Biovac lands $89 million to scale vaccine manufacturing in Africa, targeting cholera, polio, and boosting regional health security.

Timilehin Adejumobi Timilehin Adejumobi
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