Kenya forex losses tax ruling
BusinessHot News

Kenya’s Del Monte wins $2.1 million court ruling on forex loss tax deductions

Del Monte wins $2.1 million tax appeal as Kenya court allows forex losses from debt-to-equity conversions as deductible expenses.

Feyisayo Ajayi Feyisayo Ajayi
Lagos-based lender Wema Bank Plc.
Hot NewsBusiness

Wema Bank’s Q1 2026 profit rises to $46.4 million on stronger lending income

Gross earnings climbed to N204.82 billion ($150.5 million) from N139.38 billion ($102.4 million) in the first quarter of 2025.

Omokolade Ajayi Omokolade Ajayi
South Africa's richest man Johann Rupert
Hot NewsBillionairesBusiness

With nearly $20 billion fortune, Johann Rupert is back as Africa’s second-richest person

The change reflects gains in luxury goods stocks tied to Rupert and weaker performance across listed companies linked to Rabiu…

Omokolade Ajayi Omokolade Ajayi
Harel Mallac & Co. Limited, a Mauritius-based diversified conglomerate.
Hot NewsBusiness

Mauritius-based Harel Mallac steers recovery as turnaround efforts lift revenue to $72.5 million

The resilient performance under Group CEO Charles Harel was reflected in operating results, with profit before finance costs returning to…

Omokolade Ajayi Omokolade Ajayi
Nigerian agribusiness entrepreneur Rotimi Opeyemi.
Hot NewsBusiness

Nigerian agribusiness entrepreneur Rotimi Opeyemi leads JR Farms Group to $60 million Liberia coffee deal

The 20-year concession agreement, signed through Liberia’s Ministry of Agriculture, is one of the largest recent commitments to the country’s…

Omokolade Ajayi Omokolade Ajayi
BusinessHot News

Midroc Ethiopia gets $80 million loan to revamp Sheraton Addis hotel

Midroc Ethiopia secures $80 million loan to revamp Sheraton Addis and build new hotel, boosting tourism, jobs and private-sector growth.

Feyisayo Ajayi Feyisayo Ajayi
Africa economic zones infrastructure
BusinessHot News

Africa’s 15 most vital economic and infrastructure-linked zones

Africa’s most vital economic zones drive trade, investment, and jobs through integrated infrastructure linking ports, rail, power, and corridors.

Feyisayo Ajayi Feyisayo Ajayi
Standard Bank CEO retirement 2027
BusinessHot News

Standard Bank Group CEO Sim Tshabalala to retire in 2027 amid succession planning

Standard Bank CEO Sim Tshabalala will retire in 2027 as Africa’s largest lender begins a planned leadership transition.

Feyisayo Ajayi Feyisayo Ajayi
Airtel Africa Foundation $6.2 million investment
BusinessHot News

Airtel Africa Foundation invests $6.2 million in education, digital inclusion across Africa

Airtel Africa Foundation invests $6.2 million to expand education, digital access, and skills development across underserved African communities.

Feyisayo Ajayi Feyisayo Ajayi
Ufundi SACCO Co-op Plaza sale
BusinessHot News

Kenya’s 54-year-old Ufundi SACCO lists Co-op Plaza for sale over $2 million loan

Ufundi SACCO lists Nairobi’s Co-op Plaza for sale to settle a $2 million loan after a court-backed ownership ruling.

Feyisayo Ajayi Feyisayo Ajayi
KCB BANK
BusinessHot News

KCB expands climate finance, screens $4.5 billion in transactions

KCB screens $4.54 billion transactions, expands green lending, surpasses sustainability targets across East Africa markets.

Feyisayo Ajayi Feyisayo Ajayi
Alkan Egypt auto plant investment
BusinessHot News

Egypt’s Alkan Holding to invest $120 million in auto plant, targeting Kia and BAIC assembly

Egypt’s Alkan Holding plans $120 million auto plant to assemble Kia and BAIC vehicles, boosting local manufacturing and export capacity…

Feyisayo Ajayi Feyisayo Ajayi
EmTech Africa tech fund
BusinessHot News

Moroccan Venture Capital EmTech launches $60 million Africa tech fund with Proparco backing

EmTech Capital launches $60 million Africa tech fund, with Proparco backing early-stage startups across Francophone markets.

Feyisayo Ajayi Feyisayo Ajayi
BusinessHot News

From Pretoria to $1 trillion: Elon Musk becomes world’s first trillionaire

On Friday, shares of SpaceX gained roughly 20 percent to close at $161.11 a piece, a move that values the…

Omokolade Ajayi Omokolade Ajayi
Moroccan property technology company Agenz.
TechnologyBusinessHot News

Moroccan proptech Agenz raises $5 million to scale AI property tech

The latest funding will be used to expand its team, deepen product development, and strengthen its technology stack as it…

Omokolade Ajayi Omokolade Ajayi
David Langat SEZ project
BusinessHot News

Kenyan tycoon David Langat’s SEZ industrial park reveals tax advantages

Kenyan tycoon David Langat’s industrial park highlights SEZ tax incentives amid slow progress and fiscal policy debate in Kenya review…

Feyisayo Ajayi Feyisayo Ajayi
TLG Capital 2026 Investment Plan
BusinessHot News

Inside TLG Capital’s 2026 investment plan for Africa’s SME market

TLG Capital targets a $200 million raise in 2026 to expand private credit for African SMEs as investor demand rises…

Feyisayo Ajayi Feyisayo Ajayi
Uganda Airlines Boeing Dreamliner aircraft.
Hot NewsBusinessGlobal News

Uganda Airlines bets nearly $1 billion on 10 Boeing jets to expand global reach

The deal, signed June 10, includes eight passenger jets and two cargo aircraft.

Omokolade Ajayi Omokolade Ajayi
Kenyan banker Nancy Njau, the CEO of Family Bank.
Hot NewsBusiness

Kenyan banker Nancy Njau takes Family Bank to Nairobi bourse with $1.8 billiin assets

The listing will allow existing shareholders to buy and sell shares on the exchange without the bank issuing new shares…

Omokolade Ajayi Omokolade Ajayi
Egyptian wheat supply linked to import diversification strategy.
Hot NewsBusiness

Egypt buys record amount of wheat from farmers after reforms

Government data shows officials have already bought 4.6 million tons of wheat since the harvest began in mid-April.

Omokolade Ajayi Omokolade Ajayi
Oil Block
BusinessHot News

Kenya offers 10 new oil exploration blocks in major energy push

Kenya targets international oil operators with 10 new blocks and investor-friendly terms.

Wildfire burns through dry bush in Etosha National Park, Namibia, as crews work to contain the blaze.
TourismBusiness

Etosha national park battles wildfire damage, eyes renewal

At a Glance Etosha National Park, one of Namibia's most important natural areas and a popular stop on Southern Africa's safari circuit, is still dealing with the damage from a wildfire that swept across the area in late September. The blaze, which began on Sept. 22, scorched more than a third of the park’s vast wilderness and has left behind…

Kenya forex losses tax ruling
BusinessHot News

Kenya’s Del Monte wins $2.1 million court ruling on forex loss tax deductions

Del Monte wins $2.1 million tax appeal as Kenya court allows forex losses from debt-to-equity conversions as deductible expenses.

Feyisayo Ajayi Feyisayo Ajayi
Woolworths
BusinessTechnology

South Africa’s Woolworths ends WRewards, MySchool cards on June 30, 2026

South Africa’s Woolworths ends WRewards, MySchool cards on June 30, 2026

Oluwatosin Alao Oluwatosin Alao
The World Bank
BusinessHot News

World Bank to unlock $750 million Kenya lifeline, boost Africa growth

World Bank Kenya $750 million lifeline boosts Kenya’s economy with budget support, reforms, and climate resilience funding.

Timilehin Adejumobi Timilehin Adejumobi
Apparel Company
BusinessHot News

India’s Prestige Denim expands in Africa with $20 million Egypt plant

Prestige Denim Egypt Plant marks a $20 million investment in Egypt, boosting textile exports, manufacturing growth and jobs.

Timilehin Adejumobi Timilehin Adejumobi
Lagos-based lender Wema Bank Plc.
Hot NewsBusiness

Wema Bank’s Q1 2026 profit rises to $46.4 million on stronger lending income

Wema Bank's profit after tax rose to $46.4 million in Q1 2026, driven by a surge in net interest income and continued retail and corporate loan growth across Nigeria.

Omokolade Ajayi Omokolade Ajayi
Malagasy billionaire Hassanein Hiridjee
BusinessTechnology

Malagasy billionaire Hassanein Hiridjee’s AXIAN Telecom secures $197 million to drive expansion

AXIAN Telecom $197 million loan from EBRD boosts Africa expansion, digital infrastructure and telecom network growth plans.

Timilehin Adejumobi Timilehin Adejumobi
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