Pearl of Africa Hotel debt crisis
BusinessHot NewsLuxury

Why Ugandan businessman Mohammed Hamid’s $300 million Pearl of Africa Hotel is still in debt crisis

Ugandan businessman Mohammed Hamid risks losing his $300 million hotel as $160 million debt pushes it toward possible auction.

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

Nigerian billionaire Tony Elumelu’s Seplat stake tops $800 million as shares climb

The gain follows a deal completed at the end of 2025 that positioned him as the largest shareholder in the…

Omokolade Ajayi Omokolade Ajayi
Sam Jonah investment strategy
BusinessHot News

Ghana’s Sam Jonah: From Ashanti Goldfields CEO to investment mogul

Sam Jonah rose from miner to Ashanti CEO, building a gold giant and later a pan-African investment empire.

Feyisayo Ajayi Feyisayo Ajayi
Unifreight Africa trailer, part of the company’s logistics operations.
BusinessHot News

Zimbabwe’s Unifreight Africa plans capacity expansion amid tobacco surge

The increase is expected to be supported by efforts to improve efficiency and expand operations, including a planned acquisition of…

Omokolade Ajayi Omokolade Ajayi
Kenya Airways airline operations during 2025 financial results period.
BusinessHot News

After $132 million loss, Kenya Airways’ bailout hopes fade under tighter rules

The Kenya Civil Aviation Authority has introduced stricter conditions for state support, including debt guarantees and bailouts.

Omokolade Ajayi Omokolade Ajayi
Funeka Montjane salary Standard Bank
BusinessHot News

South African CEO Funeka Montjane pockets $4.2-million from Standard Bank in 2025

Standard Bank’s Funeka Montjane earned $4.2 million in 2025 as PPB drove growth, boosting clients, earnings and group profitability.

Feyisayo Ajayi Feyisayo Ajayi
Nigeria crude export strategy
BusinessHot News

Nigeria’s debut of Cawthorne crude export exposes tension between NNPCL, Dangote refining model

Nigeria’s first Cawthorne crude export to Europe exposes tension between export strategy and Dangote-led domestic refining ambitions.

Feyisayo Ajayi Feyisayo Ajayi
Sunu Bank court ruling Senegal
BusinessHot News

Senegal’s Sunu Bank wins legal battle as Dakar court orders Pharmacie Royale to pay $275,000

Sunu Bank wins Dakar court ruling, securing $275,000 payment as it strengthens credit enforcement and post-acquisition risk controls.

Feyisayo Ajayi Feyisayo Ajayi
Founders of Refiant AI, including Viroshan Naicker, Siddharth Gutta, and Mathew Haswell, leading the South African AI startup focused on efficiency.
Hot NewsTechnology

South African AI startup Refiant raises $5 million to cut AI energy and data costs

Refiant said the funding will be used to expand its engineering team, build out its platform, and deepen partnerships with…

Omokolade Ajayi Omokolade Ajayi
DRC $1.25 billion eurobond
BusinessHot News

DRC’s Rawbank leads $1.25 billion debut eurobond, opening global capital markets access

DRC raises $1.25 billion eurobond, unlocking global funding to boost infrastructure, jobs, and long-term economic growth.

Feyisayo Ajayi Feyisayo Ajayi
Sello Moloko builds multimillion-dollar empire
BusinessHot News

Meet Sello Moloko, the dealmaker behind a multi-million dollar African investment empire

South African banker and investor Sello Moloko built a multimillion-dollar investment empire spanning banking, infrastructure and energy across Africa.

Feyisayo Ajayi Feyisayo Ajayi
IFC loan OCP sustainable fertilizer waste
BusinessHot News

IFC plans $111.3 million loan to OCP for fertilizer waste project in Morocco

IFC weighs $111.3 million loan to Morocco’s OCP to fund sustainable phosphogypsum storage and cut fertilizer waste risks.

Feyisayo Ajayi Feyisayo Ajayi
Ghana International Bank IFC loan
BusinessHot News

Ghana International Bank gets $100 million IFC loan to boost Africa trade flows

Ghana International Bank secures $100 million IFC loan to boost trade finance, expand liquidity and support cross-border commerce across Africa.

Feyisayo Ajayi Feyisayo Ajayi
Optasia’s AI-powered fintech solutions support credit access and digital financial services across Africa and emerging markets.
BusinessHot NewsTechnology

JSE-listed Optasia raises over $300 million in refinancing to boost Africa’s fintech growth

The package includes an upsizing of $180 million in term facilities and $150 million in bank guarantees.

Omokolade Ajayi Omokolade Ajayi
Outgoing Chief Executive Officer John Lamola
BusinessHot News

After reports reveal quiet $58 million bailout, SAA CEO John Lamola resigns

SAA confirmed that Barbara Creecy, acting as the government’s shareholder representative, and the airline’s board accepted Lamola’s resignation.

Omokolade Ajayi Omokolade Ajayi
BusinessHot News

Why Capitec boosted Gerrie Fourie’s pay 59% to nearly $6 million in his final year as CEO

Capitec lifted Gerrie Fourie’s pay 59% to $5.62 million in 2025 after strong profit growth and a decade of rapid…

Feyisayo Ajayi Feyisayo Ajayi
Adewale Tinubu, chief executive officer of Oando Plc, plans a $750 million drilling campaign following the company's Angola oil block win.
BusinessHot News

After Angola oil win, Nigerian energy mogul Adewale Tinubu plans $750 million drilling campaign

Tinubu, chief executive officer of Oando, said higher energy prices and supply disruptions are drawing renewed attention to African oil…

Omokolade Ajayi Omokolade Ajayi
BusinessHot News

Top 5 billion-dollar companies on Dar es Salaam Stock Exchange

Five billion-dollar firms dominate Dar es Salaam exchange, driving liquidity, investor confidence, and Tanzania’s capital market growth.

Feyisayo Ajayi Feyisayo Ajayi
Elsewedy Electric Saudi substations
BusinessHot News

Egypt’s Elsewedy Electric expands Saudi grid with six high-voltage substations

Elsewedy Electric delivers six substations in Saudi Arabia, boosting grid reliability and supporting rising power demand across key regions.

Feyisayo Ajayi Feyisayo Ajayi
Mary Vilakazi, First female Chief Executive Officer of FirstRand, South Africa’s $30 billion banking group.
BusinessExclusiveHot News

Mary Vilakazi: First female CEO of South Africa’s $30 billion lender, FirstRand

From Alexandra to leading a $30 billion lender, Mary Vilakazi’s career reflects a steady rise through some of South Africa’s…

Omokolade Ajayi Omokolade Ajayi
AUTOMATIVE
BusinessTechnology

Top 10 automotive companies powering South Africa’s auto industry

At a Glance South Africa’s automotive industry is shifting into high gear, cementing its reputation as the continent’s most advanced vehicle manufacturing hub. Backed by multi-million-dollar investments, favorable government policies, and growing demand for exports, global carmakers are expanding their local production capacity, particularly in the electric vehicle (EV) and hybrid segments. Contributing nearly 5% to national GDP and accounting…

La Mamounia Marrakech, Morocco
Hot NewsLuxury

10 must-visit hotels in North Africa

Discover North Africa’s top luxury hotels, blending rich history, cultural charm, and world-class hospitality for an unforgettable travel experience.

World Bank backs Morocco with $500 million to boost jobs, clean energy
BusinessGlobal News

World Bank backs Morocco with $500 million to boost jobs, green growth

The World Bank has approved a $500 million financing package for Morocco, deepening support for job creation and green growth as the country pushes ahead with economic reforms.  The funding comes as officials face rising pressure to address youth unemployment and bring more women into the workforce, while also strengthening Morocco’s position in renewable energy and manufacturing. It reflects a…

Oluwatosin Alao Oluwatosin Alao
Pearl of Africa Hotel debt crisis
BusinessHot NewsLuxury

Why Ugandan businessman Mohammed Hamid’s $300 million Pearl of Africa Hotel is still in debt crisis

Ugandan businessman Mohammed Hamid risks losing his $300 million hotel as $160 million debt pushes it toward possible auction.

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

Nigerian billionaire Tony Elumelu’s Seplat stake tops $800 million as shares climb

Nigerian billionaire Tony Elumelu’s Seplat stake surpasses $800 million as oil rally and earnings lift shares.

Omokolade Ajayi Omokolade Ajayi
MTN-Group-Limited
BusinessHot News

Why African conglomerates are spinning off units to unlock value

African conglomerates are spinning off units to unlock value, reduce conglomerate discounts, and attract deeper global capital markets.

Timilehin Adejumobi Timilehin Adejumobi
Sam Jonah investment strategy
BusinessHot News

Ghana’s Sam Jonah: From Ashanti Goldfields CEO to investment mogul

Sam Jonah rose from miner to Ashanti CEO, building a gold giant and later a pan-African investment empire.

Feyisayo Ajayi Feyisayo Ajayi
Unifreight Africa trailer, part of the company’s logistics operations.
BusinessHot News

Zimbabwe’s Unifreight Africa plans capacity expansion amid tobacco surge

Unifreight Africa plans 2026 expansion to 100 million kilograms capacity as Zimbabwe tobacco output and logistics demand increase.

Omokolade Ajayi Omokolade Ajayi
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