BusinessHot News

Nigerian lender FCMB meets $360 million capital requirement, secures international banking license

Nigeria’s FCMB has met the $360 million capital requirement for an international banking license, positioning the lender to expand operations…

Omokolade Ajayi Omokolade Ajayi
ExclusiveHot News

Africa’s 23 billionaires gain $20.3 billion; net worth hits $126.7 billion

The combined wealth of Africa’s 23 billionaires has climbed to $126.7 billion, an increase of $20.3 billion over the past…

Omokolade Ajayi Omokolade Ajayi
BusinessHot News

Nigeria’s Shoprite shuts all stores after 20 years despite local takeover

The closure follows years of financial pressure on Retail Supermarkets Nigeria Limited (RSNL), the operator of the brand in the…

Omokolade Ajayi Omokolade Ajayi
Crookes Brothers leadership loss
BusinessHot News

Africa’s leading farm, Crookes Brothers, mourns loss of CFO and director Farzanah Mall

Crookes Brothers mourns CFO Nigel Naidoo and director Farzanah Mall, honoring their leadership in governance, risk oversight, and financial stewardship.

Feyisayo Ajayi Feyisayo Ajayi
Baloobhai Patel Absa Kenya dividend
BusinessHot News

Kenyan tycoon Baloobhai Patel set for $1.6 million Absa Kenya dividend

Kenyan investor Baloobhai Patel is set to earn $1.6 million after Absa Bank Kenya declared a higher dividend following stronger…

Feyisayo Ajayi Feyisayo Ajayi
Absa Kenya 2025 profit
BusinessHot News

Absa Kenya posts $177.9 million profit in 2025 amid digital growth

Absa Kenya posts $177.9 million profit in 2025, boosted by digital growth, lower credit costs, and disciplined cost management.

Feyisayo Ajayi Feyisayo Ajayi
City Lodge Newtown hotel closure
Hot NewsLuxury

City Lodge to close Newtown hotel in Johannesburg by March 2026

City Lodge will close its 148-room Newtown hotel in Johannesburg by March 2026 as the group streamlines its portfolio and…

Feyisayo Ajayi Feyisayo Ajayi
BusinessHot News

Kenyan Sasini Tea targets China, India as Middle East crisis hits exports

The company said shipping produce through the Suez Canal and the Strait of Hormuz has become increasingly challenging due to…

Omokolade Ajayi Omokolade Ajayi
MTN IHS Towers acquisition
BusinessHot News

MTN’s $6.2 billion IHS takeover could deliver $9.2 million to Bashir Ahmad El-Rufai

Bashir Ahmad El-Rufai could earn $9.2 million if MTN Group completes its $6.2-billion acquisition of telecom tower giant IHS Towers.

Feyisayo Ajayi Feyisayo Ajayi
BusinessHot News

Zimbabwe’s richest man Strive Masiyiwa gains $900 million; hits $2.2 billion

Masiyiwa’s net worth has climbed from $1.3 billion on Jan. 1, 2026, to $2.2 billion at the time of drafting…

Omokolade Ajayi Omokolade Ajayi
Ngugi Kiuna Heineken lawsuit
BusinessHot News

Kenyan tycoon Ngugi Kiuna wins over $11 million court order against Heineken

Kenyan businessman Ngugi Kiuna wins major court order forcing Heineken to guarantee $11.4 million in a decade-long distribution dispute.

Feyisayo Ajayi Feyisayo Ajayi
Aliko Dangote, president of Dangote Group
BusinessHot News

Africa’s richest man Aliko Dangote loses $400 million as naira weakens

According to the Bloomberg Billionaires Index, Dangote, 68, has lost $400 million over the past 10 days.

Omokolade Ajayi Omokolade Ajayi
Labat Africa Mondau AI investment
BusinessHot News

Labat Africa buys $1.8 million stake in Mozambique AI firm Mondau

Labat Africa buys $1.8 million stake in Mozambique AI firm Mondau, expanding into generative AI, GPU infrastructure and Africa’s digital…

Feyisayo Ajayi Feyisayo Ajayi
European Investment Bank renewable energy Africa
BusinessHot News

European Investment Bank commits $1.2 billion to boost renewable energy in Africa

European Investment Bank pledges $1.2 billion to expand renewable energy and electricity access across sub-Saharan Africa under Mission 300.

Feyisayo Ajayi Feyisayo Ajayi
IFC $50 million ZEP-RE guarantee
BusinessHot News

IFC proposes $50 million guarantee for ZEP-RE to expand insurance coverage across Africa

IFC proposes a $50 million guarantee for ZEP-RE to boost underwriting capacity and expand insurance access across African markets.

Feyisayo Ajayi Feyisayo Ajayi
Benson Ndeta bank fraud
BusinessHot News

Kenyan cement tycoon Benson Ndeta faces arrest over $34.8 million Absa Bank fraud

Kenyan cement executive Benson Ndeta faces arrest after court warrant over alleged $34.8 million Absa Bank Kenya fraud scheme.

Feyisayo Ajayi Feyisayo Ajayi
Nairobi CBD property sale
BusinessHot News

Jubilee Holdings to sell Nairobi CBD office for $15.5 million

Jubilee Holdings to sell Nairobi CBD office for $15.5 million, moving operations to modern Upper Hill headquarters.

Feyisayo Ajayi Feyisayo Ajayi
Proparco Rawbank SME financing
BusinessHot News

Proparco grants Rawbank $50 million loan to expand SME financing in DR Congo

Proparco grants Rawbank $50 million loan under IFC-led $265 million package to expand SME lending, boost private sector growth and…

Feyisayo Ajayi Feyisayo Ajayi
Youngest African billionaires
ExclusiveHot News

10 youngest African billionaires

Africa’s 10 youngest billionaires built empires in telecom, cement, energy and real estate, shaping industries and expanding influence across global…

Feyisayo Ajayi Feyisayo Ajayi
LuxuryTourism

Iran strikes shake Dubai’s safe-haven status as wealthy residents weigh exit

Iran strikes hit Dubai, prompting some wealthy residents and investors to reassess safety and luxury real estate plans.

Omokolade Ajayi Omokolade Ajayi
Google expands AI Search support to 13 widely spoken African languages
BusinessTechnology

Google brings AI-powered Search to 13 African languages

Google is expanding access to artificial intelligence across Africa by adding support…

Oluwatosin Alao Oluwatosin Alao
BusinessHot News

Nigerian lender FCMB meets $360 million capital requirement, secures international banking license

FCMB meets $360 million capital requirement, earning an international banking license for…

Omokolade Ajayi Omokolade Ajayi
Capitec Bank HQ
BusinessHot News

Capitec rolls out Smart ID services at new South Africa branches  

Capitec launches Smart ID services at new South African branches.

Timilehin Adejumobi Timilehin Adejumobi
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