OLAM Agri
BusinessHot News

Olam Agri to invest $2 million in 20,000 African bakers by 2030

Olam Agri will invest $2 million by 2030 to train more than 20,000 African bakers, expanding skills and business opportunities…

Feyisayo Ajayi Feyisayo Ajayi
African Bank
BusinessHot News

African Bank begins restructuring after departure of two top executives in 6 months

African Bank restructures under CEO Zwelibanzi Manyathi after two senior exits, a R624 million ($38.3 million) loss and plans to…

Feyisayo Ajayi Feyisayo Ajayi
Akdital raises 130 million hospital expansion
Hot NewsBusiness

Moroccan healthcare operator AKDITAL launches academy to train 10,000 staff

AKDITAL launches its Academy to train staff as Morocco’s healthcare network expands to 45 facilities across 26 cities.

Feyisayo Ajayi Feyisayo Ajayi
South African executive Mpumi Madisa
BusinessHot News

South African CEO Mpumi Madisa grew her Bidvest stake to $4.25 million

Based on Bidvest’s midday trading price on the JSE, the market value of Madisa’s total holding increased from $2.9 million…

Omokolade Ajayi Omokolade Ajayi
Angola’s Cabinda refinery begins fuel shipments.
BusinessHot News

Global gas crunch puts Nigerian and Angolan LNG in high demand

Nigeria, Algeria, Angola, Egypt, Equatorial Guinea and Mozambique are among the African countries positioned to benefit from the shift in…

Omokolade Ajayi Omokolade Ajayi
Glencore
BusinessHot News

Glencore faces $2 billion lawsuit after cutting ties with iron ore partner

The counterpunch marks an acrimonious split between two commodity players that spent years operating hand in glove.

Omokolade Ajayi Omokolade Ajayi
Nigerian billionaire Adebayo Ogunlesi.
TechnologyBillionairesHot News

With Nigerian billionaire Adebayo Ogunlesi on board, OpenAI eyes $1.2T valuation

The investors initiated the talks, one of the people said, asking not to be identified because the discussions are private.

Omokolade Ajayi Omokolade Ajayi
Meiji Holdings
BusinessHot News

Japan’s Meiji signs Ghana cocoa sustainability pact as Milk Chocolate marks 100 years

Japan’s Meiji Holdings signs Ghana cocoa sustainability pact, targeting higher-value cocoa opportunities and circular-economy initiatives.

Feyisayo Ajayi Feyisayo Ajayi
South African banker Mary Vilakazi
BusinessHot News

How share awards lifted FirstRand chief Mary Vilakazi to a $5 million stake

The increase of $1.89 million came entirely from the vesting and settlement of executive share awards rather than open-market transactions.

Omokolade Ajayi Omokolade Ajayi
Anna Mokgokong
LuxuryHot News

South African tycoon Anna Mokgokong-linked investment group acquires Forever Resorts

Anna Mokgokong-linked Benus Trade and Invest has acquired South African hospitality group Forever Resorts, retaining its brand and operations.

Feyisayo Ajayi Feyisayo Ajayi
Ongwe Minerals
BusinessHot News

Ongwe Minerals begins drilling at Namibia’s Nguni gold prospect

Ongwe Minerals has begun drilling a 6km gold anomaly at its Nguni prospect, testing Namibia’s Northwest Damara belt for deeper…

Feyisayo Ajayi Feyisayo Ajayi
Cedar Square
BusinessHot NewsLuxury

Accelerate’s Cedar Square sold for $39 million 11 months after Michael Georgiou’s exit

Accelerate Property Fund's Cedar Square sold for R630 million as the JSE-listed REIT reduces debt and focuses on Fourways Mall.

Feyisayo Ajayi Feyisayo Ajayi
South African billionaire Patrice Motsepe.
BusinessHot News

Patrice Motsepe-backed Kropz to cut jobs at South Africa phosphate mine

The company said the operation, located about 70 miles northwest of Cape Town, has about 540 workers, including contractors.

Omokolade Ajayi Omokolade Ajayi
Narendra Raval
BusinessHot News

Kenyan industrialist Narendra Raval’s National Cement seeks approval for 60MW wind farm

National Cement seeks approval for a 60MW wind farm in Kajiado as Narendra Raval’s Devki Group expands captive power capacity.

Feyisayo Ajayi Feyisayo Ajayi
Kenyan tycoon John Kimani
BusinessHot News

Kenyan tycoon John Kimani buys $1 million Centum shares, lifts stake to 11.5%

Kimani’s holding increased from 69.4 million shares, or 10.43 percent, at the end of March 2025 to 76.59 million shares…

Omokolade Ajayi Omokolade Ajayi
Oluwatosin “Mr Eazi” Ajibade
TechnologyBusinessHot News

Mr Eazi’s payments company, PawaPay, nears 4 billion transactions

Mr Eazi’s PawaPay nears 4 billion transactions as the fintech expands mobile money payments across more than 20 African markets.

Omokolade Ajayi Omokolade Ajayi
Nigerian business executive Bella Disu
BillionairesBusinessHot News

Nigerian executive Bella Disu outlines Abumet’s next phase as business expands

Abumet has expanded its sales and marketing efforts during the period, including the expansion of its Lagos sales office.

Omokolade Ajayi Omokolade Ajayi
Nigeria LNG Ltd. (NLNG) plans to start operations at its $10 billion Train 7 project by the end of 2027, as the liquefied natural gas producer works to expand output and address persistent constraints on gas supply. Managing Director Adeleye Falade disclosed the target to reporters on the sidelines of the Gastech conference in Bangkok. The project, located on Bonny Island in Nigeria, is designed to increase NLNG’s production capacity to 30 million metric tons a year from 22 million metric tons. Train 7 has faced repeated delays, including setbacks linked to the COVID-19 pandemic and the war in Ukraine. The latest target puts the project on a path toward completion as Nigeria seeks to increase its LNG production capacity. Gas supply remains key constraint NLNG remains under a force majeure declared in 2022 after widespread flooding disrupted its gas supply, Falade said at the conference. The company expects to lift the force majeure once plant utilization reaches 90 percent. NLNG is currently operating at between 82 percent and 83 percent utilization, according to Falade. “We still have a delta of about 15 percent that we need to close,” he said. “Operationally, we are able to do that, but our biggest constraint is gas supply, and we're working with all the relevant people, including the government, to be able to get more gas to flow into the plant.” The comments highlight the importance of securing additional feed gas as NLNG works to raise production and meet its existing commitments. The company is focused on fulfilling its contractual obligations to buyers while seeking to maximize available production, Falade said. Buyers seek more LNG Interest in additional LNG volumes and spot cargoes has increased following disruptions to exports through the Strait of Hormuz during the Iran war, Falade said. “People are looking at more diversified, reliable sources of supply,” he said. The increased interest comes as buyers seek alternative sources of LNG amid disruptions affecting established supply routes. For NLNG, the priority remains its existing customer commitments while making use of additional production capacity where available. “Our priority currently is to continue to make sure that we fulfil our obligations to our existing customers and maximize as much production opportunity as possible that we have,” Falade said. Ownership and expansion NLNG is majority-owned by the Nigerian National Petroleum Company, with foreign partners including Shell, TotalEnergies and Eni. The Train 7 expansion is expected to raise the company’s nameplate capacity by 8 million metric tons a year, taking total capacity from 22 million metric tons to 30 million metric tons. For NLNG, the expansion comes alongside efforts to improve utilization at its existing facilities. The company’s ability to increase output remains tied to the availability of sufficient gas supplies, according to Falade. The end-2027 startup target therefore places both the completion of Train 7 and continued improvement in gas supply at the center of NLNG’s plans to increase LNG production.
BusinessHot News

Nigeria’s $10 billion LNG expansion targets late 2027 launch on Bonny Island

Managing Director Adeleye Falade disclosed the target to reporters on the sidelines of the Gastech conference in Bangkok.

Omokolade Ajayi Omokolade Ajayi
Attacq's Waterfall City
BusinessHot News

Mall of Africa owner, Attacq, posts $54.7 million payout as assets hit $1.6 billion

The company reported distributable income of R888.5 million ($54.7 million), up from R758.4 million ($46.7 million) a year earlier.

Omokolade Ajayi Omokolade Ajayi
Musbahu Bashir companies
Hot NewsBusiness

Nigerian Businessman Musbahu Bashir’s Mafab moves to sell $273.6 million 5G spectrum asset to MTN

Mafab, backed by Musbahu Bashir, seeks to transfer $273.6 million 5G spectrum assets to MTN Nigeria, pending regulatory approval.

Feyisayo Ajayi Feyisayo Ajayi
Nigerian billionaire Abdul Samad Rabiu.
BusinessBillionairesHot News

Nigerian billionaire Abdul Samad Rabiu’s BUA Cement posts $238 million half-year profit

Abdul Samad Rabiu's BUA Cement reports a N324.88 billion ($238 million) half-year profit, driven by strong sales and lower finance costs in 2026.

Luvhondo
TourismLuxury

Few & Far Luvhondo: South Africa’s eco-conscious safari lodge

Eco-conscious safari lodge debuts in Soutpansberg Mountains with renewable energy and reforestation initiatives.

OLAM Agri
BusinessHot News

Olam Agri to invest $2 million in 20,000 African bakers by 2030

Olam Agri will invest $2 million by 2030 to train more than 20,000 African bakers, expanding skills and business opportunities across the continent.

Feyisayo Ajayi Feyisayo Ajayi
African Bank
BusinessHot News

African Bank begins restructuring after departure of two top executives in 6 months

African Bank restructures under CEO Zwelibanzi Manyathi after two senior exits, a R624 million ($38.3 million) loss and plans to consolidate its expanded business.

Feyisayo Ajayi Feyisayo Ajayi
Akdital raises 130 million hospital expansion
Hot NewsBusiness

Moroccan healthcare operator AKDITAL launches academy to train 10,000 staff

AKDITAL launches its Academy to train staff as Morocco’s healthcare network expands to 45 facilities across 26 cities.

Feyisayo Ajayi Feyisayo Ajayi
First National Bank (FNB)
BusinessTechnology

FNB, Optasia launch cash and airtime advances for African customers

FNB and Optasia launch cash and airtime advances, giving South African customers up to $30.72 through FNB’s eWallet platform.

Oluwatosin Alao Oluwatosin Alao
South African executive Mpumi Madisa
BusinessHot News

South African CEO Mpumi Madisa grew her Bidvest stake to $4.25 million

Mpumi Madisa’s direct holding in Bidvest climbed to $4.25 million as performance-linked share awards vested, lifting her stake to 300,759 shares.

Omokolade Ajayi Omokolade Ajayi
Angola’s Cabinda refinery begins fuel shipments.
BusinessHot News

Global gas crunch puts Nigerian and Angolan LNG in high demand

Middle East LNG disruptions remove 36 million tonnes of supply, creating opportunities for African producers as global buyers seek alternatives.

Omokolade Ajayi Omokolade Ajayi
Show More