Access Bank headquarters in Lagos, corporate headquarters of Access Holdings Plc.
BusinessHot News

Nigeria’s Access Holdings skips 2025 dividend as $380 million impairment hits income

Profits improved, but rising impairment costs and weaker comprehensive income left capital preservation ahead of dividend payments this year.

Omokolade Ajayi Omokolade Ajayi
Nedbank NCBA acquisition Kenya
BusinessHot News

South Africa’s Nedbank secures 77% backing for $856 million NCBA acquisition in Kenya

Nedbank secures 77% backing for its $856 million NCBA stake acquisition, advancing a cross-border deal to expand into Kenya’s fast-growing…

Feyisayo Ajayi Feyisayo Ajayi
Amadou Diallo, Senegalese executive and CEO of Aramex.
BusinessGlobal NewsHot News

Senegalese executive Amadou Diallo named CEO of logistics giant Aramex

His appointment, which took effect on May 1, 2026, places him at the helm of a business that generated $1.73…

Omokolade Ajayi Omokolade Ajayi
BusinessHot News

Egypt increases gas prices for industries as energy costs fluctuate

Officials framed the decision as part of ongoing adjustments meant to manage rising import costs without disrupting basic consumer supply.

Omokolade Ajayi Omokolade Ajayi
Marvin Ellison Lowe’s compensation
BusinessHot News

Marvin Ellison earns $22 million as Lowe’s CEO, cementing position among top Black executives

Marvin Ellison earns $21.6 million in 2025 as Lowe’s posts strong revenue growth, reflecting performance-linked executive compensation.

Feyisayo Ajayi Feyisayo Ajayi
Spear REIT investment
BusinessHot News

PIC joins top investors in Spear REIT, acquires $22 million stake

PIC has acquired a $22 million stake in Spear REIT, securing 6.557% holding and ranking among top five shareholders in…

Feyisayo Ajayi Feyisayo Ajayi
FDH Bank profit growth
BusinessHot News

Malawi’s FDH Bank posts $85 million profit amid Mozambique expansion

FDH Bank profit nearly doubles to $85 million in 2025, driven by strong lending growth, rising interest income and regional…

Feyisayo Ajayi Feyisayo Ajayi
Salungano $182 million revenue coal output
BusinessHot News

South Africa’s Salungano reports $182 million revenue on stronger coal output

Salungano reports $182 million revenue as coal output and sales surge, boosting profit and strengthening balance sheet.

Feyisayo Ajayi Feyisayo Ajayi
Rocking the Daisies 2026 lineup
EntertainmentHot News

Jorja Smith to headline Rocking the Daisies 2026 festival in Cape Town

Jorja Smith will headline Rocking the Daisies 2026 in Cape Town, marking her first South Africa show as organizers unveil…

Feyisayo Ajayi Feyisayo Ajayi
Lanzerac Estate forfeiture dispute
BusinessHot News

Lanzerac Estate sues Apex Bank over $13 million forfeiture tied to Former Steinhoff CEO Markus Jooste

Lanzerac Estate contests SARB’s $13 million forfeiture tied to Jooste-era transactions, raising constitutional questions in Gauteng High Court case

Feyisayo Ajayi Feyisayo Ajayi
Stephen Saad Aspen stake
BillionairesBusinessHot News

South African billionaire Stephen Saad’s Aspen stake nears $500 million after turbulent year

Stephen Saad’s Aspen stake rises $87 million to nearly $500 million as shares rebound after regulatory setbacks and losses.

Feyisayo Ajayi Feyisayo Ajayi
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
Nile Ritz-Carlton Cairo
Hot NewsLuxury

10 best Cairo hotels

Cairo’s luxury hotel scene blends timeless heritage with modern elegance, offering refined stays from the Nile to the pyramids.

African cities for entrepreneurs
BusinessHot News

Fastest-growing African cities for entrepreneurs in 2025 

Urban centers across Africa are emerging as dynamic launchpads for startups and small businesses.

Access Bank headquarters in Lagos, corporate headquarters of Access Holdings Plc.
BusinessHot News

Nigeria’s Access Holdings skips 2025 dividend as $380 million impairment hits income

Access Holdings will skip its 2025 final dividend after $380 million impairment charges weighed on earnings despite profit growth and asset expansion.

Omokolade Ajayi Omokolade Ajayi
Nedbank NCBA acquisition Kenya
BusinessHot News

South Africa’s Nedbank secures 77% backing for $856 million NCBA acquisition in Kenya

Nedbank secures 77% backing for its $856 million NCBA stake acquisition, advancing a cross-border deal to expand into Kenya’s fast-growing banking market.

Feyisayo Ajayi Feyisayo Ajayi
Amadou Diallo, Senegalese executive and CEO of Aramex.
BusinessGlobal NewsHot News

Senegalese executive Amadou Diallo named CEO of logistics giant Aramex

Amadou Diallo takes over as Aramex CEO as the $1.73 billion logistics group seeks steadier earnings and growth.

Omokolade Ajayi Omokolade Ajayi
BusinessHot News

Egypt increases gas prices for industries as energy costs fluctuate

Egypt raises natural gas prices for key industries as it adjusts subsidies and manages rising energy import costs under IMF program.

Omokolade Ajayi Omokolade Ajayi
Marvin Ellison Lowe’s compensation
BusinessHot News

Marvin Ellison earns $22 million as Lowe’s CEO, cementing position among top Black executives

Marvin Ellison earns $21.6 million in 2025 as Lowe’s posts strong revenue growth, reflecting performance-linked executive compensation.

Feyisayo Ajayi Feyisayo Ajayi
Spear REIT investment
BusinessHot News

PIC joins top investors in Spear REIT, acquires $22 million stake

PIC has acquired a $22 million stake in Spear REIT, securing 6.557% holding and ranking among top five shareholders in a regulatory filing.

Feyisayo Ajayi Feyisayo Ajayi
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