BusinessHot News

Nigeria’s inflation eases to 15.06% in February but monthly pressures rise

Headline inflation fell slightly to 15.06 percent, down from 15.1 percent in January.

Omokolade Ajayi Omokolade Ajayi
BusinessHot News

Shoprite enters community banking through R&A Cellular acquisition

For Shoprite, the move builds on years of investment in low-cost financial services offered through its supermarkets.

Omokolade Ajayi Omokolade Ajayi
Hot NewsLuxury

10 most valuable publicly listed hotel brands in Africa

Africa’s listed hotel companies are expanding tourism and investment, led by Nigeria’s Transcorp Hotels and South Africa’s hospitality giants.

Feyisayo Ajayi Feyisayo Ajayi
BillionairesBusinessHot News

South African billionaire Koos Bekker loses $400 million in two months

Bekker, 73, is chairman of Naspers, Africa’s largest consumer internet and technology company, and its Amsterdam-based unit Prosus.

Omokolade Ajayi Omokolade Ajayi
Madinet Masr 2025 financial results
BusinessHot News

Madinet Masr reports $223 million revenue, as profits nears $70 million in 2025

Madinet Masr reports $236 million revenue and $73 million profit in 2025 as strong demand for Taj City and Sarai…

Feyisayo Ajayi Feyisayo Ajayi
BusinessHot News

South African businessman Robert Gumede’s Vision Group seeks solution to Tongaat Hulett’s financial crisis

Robert Gumede, chairman of the Guma Group of Companies, confirmed that Vision Group is “on the steps to a solution”…

Omokolade Ajayi Omokolade Ajayi
Hot NewsTechnology

Senegalese-American executive Aicha Evans’ Zoox taps Uber to offer robotaxi rides in Las Vegas and LA

The service is expected to begin in Las Vegas this summer before expanding to Los Angeles in 2027. Zoox will…

Omokolade Ajayi Omokolade Ajayi
Optasia Finergi acquisition
BusinessHot News

Optasia acquires Finergi for $30 million to expand Africa’s prepaid electricity credit

Optasia acquires Finergi for $30 million, expanding Africa’s prepaid electricity credit platform to serve unbanked consumers.

Feyisayo Ajayi Feyisayo Ajayi
MTN Group 2025 revenue growth
BusinessHot News

Zimbabwean executive Ralph Mupita leads MTN to $13.5 billion revenue in 2025

MTN posts $13.5 billion revenue in 2025 as Nigeria and Ghana drive growth, while fintech expansion and rising subscribers strengthen…

Feyisayo Ajayi Feyisayo Ajayi
Cameroon tourism development programme
BusinessHot News

Cameroon launches $18 million tourism programme to boost visitor arrivals

Cameroon launches an $18 million tourism programme to upgrade infrastructure, promote domestic travel and attract more international visitors.

Feyisayo Ajayi Feyisayo Ajayi
BusinessHot News

Rising oil prices may ease Algeria’s budget strain, boost reserves

Algeria, home to 47 million people, depends heavily on its oil and gas reserves to fund subsidies.

Omokolade Ajayi Omokolade Ajayi
BillionairesHot News

Ken Sharpe’s WestProp woos South African retailers for $100 million Mall of Zimbabwe

Sharpe said discussions with retailers were constructive, although some companies remain cautious about Zimbabwe’s economic conditions.

Omokolade Ajayi Omokolade Ajayi
African billionaires luxury hotel developers
BillionairesBusinessHot News

10 African billionaires building luxury hotels across the continent

African billionaires are financing luxury hotels across the continent, partnering global brands to transform tourism and real-estate markets.

Feyisayo Ajayi Feyisayo Ajayi
IFC Somalia microfinance loan
BusinessHot News

IFC plans $1 million loan for KIMS Microfinance to expand financial inclusion in Somalia

IFC plans a $1 million Sharia-compliant loan to KIMS Microfinance to expand credit access for microenterprises and boost financial inclusion…

Feyisayo Ajayi Feyisayo Ajayi
IFC investment in Lightrock Africa Fund
BusinessHot News

IFC invests $20 million in Lightrock Africa Fund II

IFC considers $20 million investment in Lightrock Africa Fund II to boost high-growth African firms and strengthen regional private equity.

Feyisayo Ajayi Feyisayo Ajayi
Angola trade finance IFC
BusinessHot News

Banco de Fomento Angola gains $30 million IFC trade guarantee

IFC plans $30 million trade finance for Banco de Fomento Angola, boosting cross-border transactions and business access to global markets.

Feyisayo Ajayi Feyisayo Ajayi
Centum Sidian Bank stake sale
BusinessHot News

Centum, linked to Kirubi family, exits Sidian Bank after 25 years with final stake sale

Centum exits Sidian Bank after 25 years, selling its final stake and ending one of Kenya’s longest-running banking investments.

Feyisayo Ajayi Feyisayo Ajayi
Kampala luxury apartments
BillionairesHot NewsLuxury

Inside Sudhir Ruparelia’s Kololo project: Kampala’s new luxury residential landmark

Ugandan tycoon Sudhir Ruparelia develops One Ten Apartments, a 15-storey luxury tower redefining upscale urban living in Kampala.

Feyisayo Ajayi Feyisayo Ajayi
Portside Tower
BusinessHot News

Surging oil prices put South Africa’s fragile recovery at risk

Brent above $100 raises inflation and growth risks for South Africa as conflict drives volatile oil markets and higher fuel…

Omokolade Ajayi Omokolade Ajayi
Zimbabwe dairy processor Dendairy acquisition
BusinessHot News

Mauritius-based Group expands Zimbabwe agribusiness footprint with Dendairy acquisition

ETG subsidiary Vamara acquires Zimbabwe dairy processor Dendairy after regulatory approval, aiming to stabilize production and expand operations.

Feyisayo Ajayi Feyisayo Ajayi
BusinessHot News

Nigeria’s inflation eases to 15.06% in February but monthly pressures rise

Nigeria’s inflation eased to 15.06% in February, but monthly price pressures intensified…

Omokolade Ajayi Omokolade Ajayi
BusinessHot News

Shoprite enters community banking through R&A Cellular acquisition

Shoprite acquires R&A Cellular to expand digital payments and financial services through…

Omokolade Ajayi Omokolade Ajayi
Temasek eyes investment in Tanzania tech, infrastructure, energy
BusinessTechnology

Temasek eyes investment in Tanzania tech, infrastructure, energy 

Temasek explores investments in Tanzania’s tech, energy, infrastructure, and agriculture sectors.

Timilehin Adejumobi Timilehin Adejumobi
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