Kenya Airways lawsuit financial crisis
Hot NewsBusiness

Kenya Airways loss widens to $124 million in H1 2026 as fuel costs surge

Kenya Airways’ H1 2026 loss widened to $124 million as fuel costs, supply constraints and reduced fleet capacity further pressured…

Feyisayo Ajayi Feyisayo Ajayi
South African business leaders Noluthando Gosa and Mcebisi Jonas
BusinessHot News

Noluthando Gosa, Mcebisi Jonas-led NtisoAkhona takes stake in $40 billion trust firm

The deal also supports Apex Group’s Black ownership commitments in South Africa, one of its key markets.

Omokolade Ajayi Omokolade Ajayi
Hakeem Belo-Osagie
BusinessExclusiveHot News

Hakeem Belo-Osagie: Nigerian tycoon who ranked among Africa’s richest with a $600 million fortune in 2014

His broad commercial footing reflects the standing of an investor whose net worth rose to $600 million in 2014.

Omokolade Ajayi Omokolade Ajayi
Ethiopia’s richest man, Mohammed Al Amoudi.
BillionairesBusinessHot News

Ethiopia’s richest man, Mohammed Al Amoudi, adds $100 million to his fortune

The latest increase comes just 26 days after Al Amoudi’s wealth climbed back above $10 billion.

Omokolade Ajayi Omokolade Ajayi
GoldFields
Hot NewsBusiness

Gold Fields profit surges to $1.9 billion in H1 2026 as shareholder returns rise

Gold Fields’ H1 2026 profit jumped 81% to $1.85 billion as higher gold prices, stronger production and shareholder returns boosted…

Feyisayo Ajayi Feyisayo Ajayi
The Central Bank of Nigeria.
BusinessHot News

Nigeria’s foreign reserves surge past $52 billion, easing naira pressure

The latest balance reflects a 15.6 percent gain in under eight months, up from $45.57 billion on Jan. 2, according…

Omokolade Ajayi Omokolade Ajayi
South African retail giant The Foschini Group
BusinessHot News

South Africa’s Foschini Group eyes job cuts, store closures in major overhaul

Whether the cuts will reach Foschini Group’s clothing and furniture factories remains unclear.

Omokolade Ajayi Omokolade Ajayi
MTN Group logo, representing the pan-African telecom operator.
TechnologyBusinessHot News

MTN backs midterm targets with $374 million buyback as core cash holds up

MTN is leaning into its core African footprint as trouble in non-core units weighs on the bottom line.

Omokolade Ajayi Omokolade Ajayi
ADvTECH
BusinessHot News

AdvTech posts $316 million revenue as enrolments near 120,000

AdvTech’s revenue rose 8% to $316 million as enrolments climbed 13% to nearly 120,000, driven by strong growth across education…

Feyisayo Ajayi Feyisayo Ajayi
Nigerian billionaire Tony Elumelu.
BillionairesBusinessHot News

After pocketing over $20 million, Tony Elumelu eyes another $14 million dividend from Seplat Energy

The leading businessman and philanthropist received $10.8 million from his stake in Seplat Energy on June 19, taking his dividend…

Omokolade Ajayi Omokolade Ajayi
BillionairesBusinessHot News

Nigerian billionaire Femi Otedola adds $9.3 million in First HoldCo shares, targets 51%

Otedola acquired the shares through his investment vehicle, Calvados Global Services Ltd., according to a filing.

Omokolade Ajayi Omokolade Ajayi
Datatec dividend Jens Montanana
BusinessHot News

South African tycoon Jens Montanana set for $81 million Datatec dividend payday

Datatec founder Jens Montanana is set for an $81.3 million dividend payday after the technology group declared a R7.05 billion…

Feyisayo Ajayi Feyisayo Ajayi
MTN CEO Ralph Mupita
BusinessHot News

MTN profit declines to $752 million as South African business weighs on earnings

MTN profit in H1 2026 fell to $752 million as weaker South African earnings offset strong growth in Nigeria, Ghana,…

Feyisayo Ajayi Feyisayo Ajayi
State-owned power utility Eskom
BusinessHot News

South Africa’s Johannesburg pays $328 million Eskom debt to avert blackouts

The payment settles long-running billing disputes between the City of Johannesburg and the state-owned power producer.

Omokolade Ajayi Omokolade Ajayi
Africa’s first Black billionaire Patrice Motsepe.
BusinessBillionairesHot News

SA billionaire Patrice Motsepe’s ARM expects earnings to rise as much as 22%

Headline earnings per share are projected to rise to between 1,544 cents and 1,682 cents, compared with 1,379 cents previously.

Omokolade Ajayi Omokolade Ajayi
Israeli-born mining executive Yoram Dvash
BusinessHot News

Israeli-born mining executive Yoram Dvash named chairman of Botswana’s Okavango Diamond Company

Dvash takes over at a company that has an important role in Botswana’s diamond trade.

Omokolade Ajayi Omokolade Ajayi
Nigerian oil mogul Wale Tinubu
Hot NewsBusinessExclusive

Oando’s assets near $6 billion as Nigerian oil mogul Wale Tinubu drives growth

The integrated energy company’s total assets rose to N7.89 trillion ($5.84 billion) as of June 30, from N7.44 trillion ($5.5…

Omokolade Ajayi Omokolade Ajayi
Stellenbosch-based investment holding company Remgro Limited
BusinessHot News

South Africa’s $6.3 billion giant Remgro proves why culture drives success

This internal culture underpins a substantial financial footprint.

Omokolade Ajayi Omokolade Ajayi
Ahmed El-Sewedy, President and CEO of Elsewedy Electric
BillionairesBusinessHot News

Ahmed El-Sewedy emerges as Egypt’s newest billionaire as Elsewedy Electric stake nears $1.3 billion

Ahmed El-Sewedy’s stake in Elsewedy Electric rises to $1.27 billion as shares surge nearly 55%, making him Egypt’s newest billionaire.

Feyisayo Ajayi Feyisayo Ajayi
Renergen
Hot NewsBusiness

Renergen kicks off commissioning South Africa’s first liquid helium plant

Renergen begins commissioning South Africa’s first liquid helium plant, targeting commercial shipments in September amid tight global supply.

Feyisayo Ajayi Feyisayo Ajayi
BusinessHot News

FirstRand tops Capitec as Africa’s most valuable lender, eyes Ghana and Nigeria

FirstRand surpasses Capitec as Africa’s top lender, targeting growth in Ghana, Nigeria, and broader regional markets.

GTCO logo represented as a modular corporate structure highlighting its diversified financial services group.
Hot NewsBusiness

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

GTCO reports first-quarter profit of $158.6 million as valuation losses and higher taxes weigh on earnings despite revenue growth.

Eni steps up Egypt investment with plans for 230 oil and gas wells
BusinessHot News

Eni steps up Egypt investment with plans for 230 oil and gas wells

Eni plans to drill 230 oil and gas wells in Egypt as the Italian energy giant expands investment and targets higher production.

Oluwatosin Alao Oluwatosin Alao
Kenya Airways lawsuit financial crisis
Hot NewsBusiness

Kenya Airways loss widens to $124 million in H1 2026 as fuel costs surge

Kenya Airways’ H1 2026 loss widened to $124 million as fuel costs, supply constraints and reduced fleet capacity further pressured earnings.

Feyisayo Ajayi Feyisayo Ajayi
TransNamib Freight Train
BusinessHot News

TransNamib delays Oshikango trains as cargo volumes remain low

TransNamib has delayed regular Oshikango train services as low cargo volumes make freight operations commercially unviable along the Namibia-Angola route.

Oluwatosin Alao Oluwatosin Alao
Eskom transmission lines carrying electricity across South Africa’s power grid.
BusinessHot News

South Africa pushes $16.5 billion in public works to revive stalled economy

South Africa plans to offer $16.53 billion in public works projects for private bidding to rebuild infrastructure and revive economic growth.

Omokolade Ajayi Omokolade Ajayi
Northam Platinum
BusinessHot News

Northam Platinum sparks takeover interest after unsolicited approach

Northam Platinum shares jump after an unsolicited takeover approach, as the JSE-listed miner opens a competitive process for potential deals.

Oluwatosin Alao Oluwatosin Alao
Pearl Global Industries
LuxuryBusiness

India’s Pearl Global eyes Africa as European apparel demand grows

Pearl Global is assessing North Africa and Jordan as it expands production closer to Europe and reduces its reliance on the U.S. market.

Timilehin Adejumobi Timilehin Adejumobi
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