Carrefour Kenya
BusinessHot News

Carrefour Kenya reports $377 million revenue amid rising local competition

The figures, disclosed by Dubai-based Majid Al Futtaim, which operates Carrefour in Kenya, show revenue rose from AED1.219 billion ($332…

Omokolade Ajayi Omokolade Ajayi
Abdirashid Duale
BusinessHot News

Abdirashid Duale: Somali tycoon behind Dahabshiil’s global expansion

Abdirashid Duale, Somali tycoon helped transform Dahabshiil from a Somali remittance business into a global financial-services group.

Feyisayo Ajayi Feyisayo Ajayi
Ninety One
BusinessHot News

Prudential Authority sanctions Ninety One Assurance over compliance failures

Ninety One Assurance faces R6 million ($372,232) in sanctions after South Africa’s Prudential Authority found Financial Intelligence Centre Act breaches.

Feyisayo Ajayi Feyisayo Ajayi
Gautam Adani
BusinessHot News

Adani Airports raises $1 billion from global investors at $18 billion valuation

Adani Airports will raise $1 billion from global investors at an $18 billion valuation to expand India’s aviation infrastructure.

Feyisayo Ajayi Feyisayo Ajayi
Thom Mpinganjira, founder of FDH Bank
BusinessBillionaires

Malawian tycoon Thom Mpinganjira sees FDH Bank stake fall by nearly $100 million 

Market data tracked by Shore Africa shows that the value of his holding has fallen by MWK170.85 billion ($98.41 million)

Timilehin Adejumobi Timilehin Adejumobi
Albaraka Bank
BusinessHot News

South Africa’s only fully fledged Islamic bank, Al Baraka, sanctioned by regulator

Albaraka Bank faces R1.6 million ($99,150) in penalties from South Africa’s Prudential Authority over cash reporting, suspicious transactions and compliance…

Feyisayo Ajayi Feyisayo Ajayi
Capitec Bank
BusinessHot News

South African Reserve Bank fines Michiel Le Roux’s Capitec Bank $1.74 million

South Africa’s central bank fined Capitec R28 million ($1.74 million) for customer due diligence, employee training and anti-money laundering control…

Feyisayo Ajayi Feyisayo Ajayi
Ugandan businessman Charles Mbire.
BusinessHot News

Ugandan businessman Charles Mbire’s MTN Uganda stake tops $100 million

Mbire, who is chairman and nonexecutive director of MTN Uganda, owns about 4 percent of the company through 895.56 million…

Omokolade Ajayi Omokolade Ajayi
Capitec Bank
BusinessHot News

South Africa’s Capitec expects 20% earnings leap on massive client surge

Capitec Bank expects half-year earnings to jump up to 20 percent after its client base surged past 26 million retail…

Omokolade Ajayi Omokolade Ajayi
South Korea’s Hyundai
BusinessHot News

South Korea’s Hyundai eyes Africa expansion in clean energy deal with AfDB

For Hyundai, the arrangement offers a door into African markets with institutional backing.

Omokolade Ajayi Omokolade Ajayi
Zarin Merali, Naushad Merali’s widow
BusinessHot News

Kenya’s Merali family expands empire with $2.6 million pharma plant

Zarin Merali remains at the center of the family’s business interests following her husband’s death in 2019.

Omokolade Ajayi Omokolade Ajayi
Wicknell Chivayo and President William Ruto
BusinessHot News

Zimbabwean businessman Wicknell Chivayo plans $200 million Kenya investment

Chivayo disclosed the plan after meeting Kenyan President William Ruto during a dinner in Kenya.

Omokolade Ajayi Omokolade Ajayi
Standard bank Group and CEO Sim Tshabalala
BusinessHot News

Standard Bank, JUMO launch framework to expand financial inclusion across Africa

Standard Bank and JUMO launch a social finance framework to expand responsible lending and financial inclusion across nine African markets.

Feyisayo Ajayi Feyisayo Ajayi
Pan African Resources
BusinessHot News

Pan African Resources approves $228 million plan to expand Mogale gold operations

Pan African Resources advances a $228 million Mogale gold expansion targeting 561,000 ounces over a 15-year project life.

Feyisayo Ajayi Feyisayo Ajayi
Supermarket Income REIT
BusinessHot News

Supermarket Income REIT acquires six UK grocery assets for $141 million

Supermarket Income REIT acquires six UK grocery assets, deploying its July equity raise and strengthening its UK grocery property portfolio.

Feyisayo Ajayi Feyisayo Ajayi
Kapumpe Chola
BusinessHot News

Kapumpe Chola: Zambian banker who rose through African banking to lead FNB Zambia

Kapumpe Chola, FNB Zambia’s first female CEO, brings 26 years of banking experience across Africa and the UK to the…

Feyisayo Ajayi Feyisayo Ajayi
ReconAfrica Namibia oil test results
BusinessHot News

ReconAfrica raises $16 million to advance Namibia drilling program

ReconAfrica raises $16 million to fund drilling and production testing at its Kavango Basin project in Namibia, advancing its exploration…

Feyisayo Ajayi Feyisayo Ajayi
BusinessHot News

Bafana Molomo: Botswana investor behind Aleyo Capital’s private-equity growth

Bafana Molomo, co-founder of Aleyo Capital, has built a private-equity career spanning asset management, development finance and Southern Africa.

Feyisayo Ajayi Feyisayo Ajayi
Infinity Power
BusinessHot News

Infinity Power targets record-low solar tariffs with $83 million Côte d’Ivoire projects

Infinity Power is advancing two Côte d’Ivoire solar projects worth $83 million, targeting record-low tariffs and 80MW of new clean…

Feyisayo Ajayi Feyisayo Ajayi
French giant TotalEnergies
BusinessHot News

French giant TotalEnergies strikes new offshore oil in Angola after $10B pledge

The Acacia-5 discovery is expected to add about 6,000 barrels per day to production from the French energy company’s Block…

Omokolade Ajayi Omokolade Ajayi
Madima
BusinessHot News

Top 20 Africa’s largest malls

Africa’s biggest malls blend retail, dining, and entertainment, driving growth, creating jobs, and transforming shopping across the continent.

PIC deepens stake in Sibanye-Stillwater miner
BusinessHot News

Top 7 Africa’s biggest Asset Managers to watch out for in 2025

Africa’s leading asset managers drive growth through diversified investments, focusing on sustainable strategies and expanding local market influence.

Nigeria's Keystone Bank
BusinessHot News

Nigeria’s Keystone Bank moves to sell insurance unit amid reforms

Keystone Bank is set to divest its 66.54 percent stake in KBL Insurance to Bethel V Limited as Nigerian insurers navigate new capital rules.

Omokolade Ajayi Omokolade Ajayi
Japan’s Asahi Group
BusinessHot News

Japan’s Asahi clears major Kenyan hurdle in $2.3B East Africa Brewer takeover

Japan’s Asahi Group wins Kenyan regulatory approval for its $2.3 billion acquisition of Diageo’s controlling stake in East African Breweries.

Omokolade Ajayi Omokolade Ajayi
Tanzanian tycoon Edha Nahdi
BusinessHot News

Tanzanian tycoon Edha Nahdi commits $35 million to Kenya’s maternal care

Amsons Group head Edha Nahdi pledges $35 million to construct 10 specialized mother-and-baby hospitals across Kenya to address critical care gaps.

Omokolade Ajayi Omokolade Ajayi
Carrefour Kenya
BusinessHot News

Carrefour Kenya reports $377 million revenue amid rising local competition

Carrefour Kenya generated $377.4 million in revenue in 2025 as store expansion strengthens its position in Kenya’s competitive retail market.

Omokolade Ajayi Omokolade Ajayi
Zimbabwean businessman Ken Sharpe, CEO of WestProp Holdings.
BusinessHot News

Real estate tycoon Ken Sharpe’s $1B plan to fix Zimbabwe’s acute housing crisis

To ease Zimbabwe’s 2-million-unit housing deficit, Ken Sharpe’s WestProp is raising a $1 billion fund to bring back 30-year home mortgages by next year.

Omokolade Ajayi Omokolade Ajayi
Abdirashid Duale
BusinessHot News

Abdirashid Duale: Somali tycoon behind Dahabshiil’s global expansion

Abdirashid Duale, Somali tycoon helped transform Dahabshiil from a Somali remittance business into a global financial-services group.

Feyisayo Ajayi Feyisayo Ajayi
Show More