Mamy Ravatomanga
BusinessHot News

Malagasy businessman Mamy Ravatomanga and $163 million money laundering saga

Malagasy businessman Mamy Ravatomanga remains in Mauritius custody as authorities investigate an alleged $163 million money laundering case.

Feyisayo Ajayi Feyisayo Ajayi
MTN Nigeria
Hot NewsBusiness

MTN Nigeria’s expenses hit $989.4 million amid $519 million profit in H1 2026

MTN Nigeria’s expenses rose to N1.32 trillion in H1 2026, while revenue climbed 25.9% and profit after tax surged 70.6%.

Feyisayo Ajayi Feyisayo Ajayi
Reinet
BusinessBillionairesHot News

Reinet, led by South African billionaire Johann Rupert, exceeds $30 million in share buybacks

Reinet, led by Johann Rupert, has surpassed $30 million in share buybacks after repurchasing 1.15 million shares on the JSE.

Feyisayo Ajayi Feyisayo Ajayi
Saint Anne Seychelles
BusinessHot News

Seychelles plans $2 billion wealth fund to fix roads and fund hospitals

The push comes as the Indian Ocean archipelago works through a difficult stretch for its tourism-led economy.

Omokolade Ajayi Omokolade Ajayi
Mauritian insurer Swan General
BusinessHot News

Mauritian giant Swan General sees Q1 2026 profit leap 241% to $12.3 million

The increase in earnings underscores the group’s resilience amid broader volatility in global financial markets.

Omokolade Ajayi Omokolade Ajayi
Gold Fields’ mining operation in South Africa.
BusinessHot News

How South Africa’s Gold Fields pulled off a $12.5 billion comeback

The rebound has reversed much of the damage suffered during the first seven months of the year.

Omokolade Ajayi Omokolade Ajayi
South African executive Mpumi Madisa
BusinessHot News

Mpumi Madisa steers Bidvest to $810 million trading profit, lifts dividend

The stronger underlying performance enabled the board to declare a final gross cash dividend of R4.83 ($0.29) per share, reflecting…

Omokolade Ajayi Omokolade Ajayi
Stefanutti Stocks order book
BusinessHot News

Stefanutti Stocks directors receive shares worth close to 1 million after FSP awards vest

Stefanutti Stocks directors receive shares worth R13.3 million ($823,368) after forfeitable awards vest and taxes are settled through treasury shares.

Feyisayo Ajayi Feyisayo Ajayi
Tim Draper
BillionairesBusinessHot NewsLuxury

Here is why billionaire investor Tim Draper is selling his stake in Tanzania’s Lupita Island for $7.9 million

Billionaire Tim Draper is seeking $7.9 million for his investment in Lupita Island, a luxury resort on Tanzania’s Lake Tanganyika.

Feyisayo Ajayi Feyisayo Ajayi
Absa named custodian of South Africa’s Government pension fund
BusinessHot News

Absa Bank wins bid to uphold summary judgment against Ivan Bjorkman’s Guesthouse

Absa Bank has upheld a summary judgment against Ivan Bjorkman and Her Majesty’s Guesthouse after a Gauteng High Court rescission…

Feyisayo Ajayi Feyisayo Ajayi
Jubilee Holdings Limited
BusinessHot News

Jubilee Holdings profit climbs to $27 million in H1 2026 as investments drive growth

Jubilee Holdings’ H1 2026 profit rose 12.7% to $27 million as investment income offset weaker insurance operations.

Feyisayo Ajayi Feyisayo Ajayi
ORA Developers UAE expansion
BusinessHot News

Orascom Investment eyes airport deals as Egypt prepares 11 airports for private partnerships

Orascom Investment is exploring airport deals as Egypt prepares to place 11 airports under private-sector management and attract new investors.

Feyisayo Ajayi Feyisayo Ajayi
Truworths International
BusinessHot News

Truworths full-year profit falls to $165 million as fuel costs squeeze consumer spending

Headline earnings per share fell 2.6 percent to R7.32 ($0.45) from R7.52 ($0.46), while diluted headline earnings per share declined…

Omokolade Ajayi Omokolade Ajayi
Changan
TechnologyBusinessHot News

Chinese automakers step up South Africa electric vehicle push

The new models also show how Chinese manufacturers are expanding their presence as demand for electrified vehicles grows.

Omokolade Ajayi Omokolade Ajayi
Drake
EntertainmentBusinessHot News

Drake sells majority stake in his lifestyle brand OVO to Authentic Brands Group

Authentic said Drake will retain a minority stake in OVO and remain involved in its creative direction.

Omokolade Ajayi Omokolade Ajayi
NBA legend Kevin Durant
SportsBusinessHot News

Kevin Durant in line for $60 million payout in reported Hugging Face deal

That single payout would top what the Houston Rockets forward has made in salary during any single season of his…

Omokolade Ajayi Omokolade Ajayi
Devland
BusinessHot News

South Africa’s Gathoo brothers face $118 million tax dispute as court orders taxman to disclose Devland records 

South Africa’s Gathoo brothers win access to Devland tax records as they challenge a R1.9 billion ($118 million) SARS assessment…

Feyisayo Ajayi Feyisayo Ajayi
Ugandan businessman, Ponsiano Ngabirano
Hot NewsLuxury

Ugandan businessman Ponsiano Ngabirano’s Marriott franchise deal births 277-unit luxury hotel in Kampala ahead of AFCON

Ugandan businessman Ponsiano Ngabirano opens Kampala Marriott Hotel, adding 277 luxury units as Uganda prepares to co-host the 2027 Africa…

Feyisayo Ajayi Feyisayo Ajayi
Nigerian politician Abdulaziz Yari.
ExclusiveBillionairesBusiness

Abdulaziz Yari: From N84 billion fraud probe to N1.08 trillion Geregu Power buyout

Sen. Abdulaziz Yari’s move into the corporate sector follows more than two decades in Nigerian politics.

Omokolade Ajayi Omokolade Ajayi
Crookes Brothers earnings decline
BusinessHot News

Crookes Brothers weighs sale of Mozambique farming business as $5 million debt looms

Crookes Brothers is negotiating a $2 sale of its Mozambique macadamia businesses as it seeks to eliminate $5 million in…

Feyisayo Ajayi Feyisayo Ajayi
Sub-saharan African growth 2025
BusinessHot News

World Bank flags stronger 2025 growth for Sub-Saharan Africa as inflation retreats

World Bank forecasts 3.8% growth in Sub-Saharan Africa for 2025 as inflation eases, but job creation remains urgent.

Murray Roberts $77.3 million asset sale
BusinessHot News

Murray & Roberts completes $77.3 million deal to anchor business rescue plan

Murray & Roberts completes $77.3 million mining asset sale, advancing business rescue and stabilizing operations after prolonged financial strain.

Mamy Ravatomanga
BusinessHot News

Malagasy businessman Mamy Ravatomanga and $163 million money laundering saga

Malagasy businessman Mamy Ravatomanga remains in Mauritius custody as authorities investigate an alleged $163 million money laundering case.

Feyisayo Ajayi Feyisayo Ajayi
George Kamal
BusinessHot News

Kenya Airways acting CEO quits after airline reports $124 million loss

Kenya Airways acting CEO resigns after the airline posts a $124 million first-half loss, with Habil Waswani named interim chief.

Timilehin Adejumobi Timilehin Adejumobi
MTN Nigeria
Hot NewsBusiness

MTN Nigeria’s expenses hit $989.4 million amid $519 million profit in H1 2026

MTN Nigeria’s expenses rose to N1.32 trillion in H1 2026, while revenue climbed 25.9% and profit after tax surged 70.6%.

Feyisayo Ajayi Feyisayo Ajayi
Mozambique reverses Central Bank appointment, names Navalha governor
BusinessHot News

Mozambique reverses Central Bank appointment, names Navalha governor

Mozambique reverses its central bank appointment, naming economist Felisberto Navalha governor as inflation and debt remain key concerns.

Oluwatosin Alao Oluwatosin Alao
Critical Minerals Mining
BusinessHot News

India eyes Zambia’s critical minerals in renewed investment talks

India Zambia critical minerals talks resume as New Delhi seeks copper supplies and deeper investment ties with Zambia.

Timilehin Adejumobi Timilehin Adejumobi
Shoprite buys Vida e Caffè as South Africa’s coffee market expands
BusinessHot News

Shoprite buys Vida e Caffè as South Africa’s coffee market expands

Shoprite has acquired Vida e Caffè as South Africa’s coffee market grows, adding the 400-store chain to its expanding retail portfolio.

Oluwatosin Alao Oluwatosin Alao
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