Simba Corporation Imperial Bank withdrawals
Hot NewsBusiness

Adil Popat draws attention after Simba withdrew $5.6 million before Imperial Bank collapse

Simba Corporation withdrew $5.6 million from Imperial Bank days before its 2015 collapse, leaving over 50,000 depositors stranded.

Feyisayo Ajayi Feyisayo Ajayi
Africa library transformation
BusinessHot News

20 biggest libraries in Africa

Africa’s largest libraries are transforming into digital knowledge hubs driving education, research, and cultural preservation across the continent.

Feyisayo Ajayi Feyisayo Ajayi
BusinessHot News

Ethiopia’s Allied Chemicals to get $17 million from IFC to build fertilizer plant

IFC plans up to $17 million financing for Allied Chemicals to build Ethiopia’s first private fertilizer plant, boosting supply and…

Feyisayo Ajayi Feyisayo Ajayi
TechnologyBusinessHot News

Elon Musk’s SpaceX beats Saudi Aramco in landmark IPO, raising $75 billion

The sale more than doubles the previous record set by Saudi Aramco.

Omokolade Ajayi Omokolade Ajayi
Standard Bank, Africa's biggest lender by assets.
Hot NewsBusiness

Standard Bank eyes lead advisory role in Dangote refinery IPO, expansion plans

The South African financial institution also indicated it is ready to finance the Nigerian conglomerate’s future expansion across the continent.

Omokolade Ajayi Omokolade Ajayi
Nampak Zimbabwe expansion
BusinessHot News

Nampak invests $1.3 million in Zimbabwe capacity 9 months after deal collapse

Nampak invests $1.3 million in Zimbabwe expansion and replacement projects, boosting capacity after a collapsed exit deal.

Feyisayo Ajayi Feyisayo Ajayi
Visawnathan Shankar investment move
BusinessHot News

India-born financier Viswanathan Shankar sells $21 million Dangote Cement shares after rally

India-born financier Viswanathan Shankar sold $21.23 million in Dangote Cement shares amid strong price gains and profit-taking on NGX disclosure

Feyisayo Ajayi Feyisayo Ajayi
Dangote Refinery gasoline storage tank with 60 million liters capacity under Dangote Industries Limited operations in Nigeria.
Hot NewsBusiness

Dangote Refinery valued at $39.1 billion in private placement as it seeks fresh capital

The pricing implies the valuation, placing the refinery just below South Africa’s Naspers, which boasts a market capitalization of $40.7…

Omokolade Ajayi Omokolade Ajayi
MC Mining KDG $90 million deal
BusinessHot News

South Africa’s MC Mining gets $9.94 million funding to advance Makhado coal project

MC Mining secures $9.94 million funding to accelerate South Africa’s Makhado coal project toward production readiness and infrastructure buildout.

Feyisayo Ajayi Feyisayo Ajayi
TechnologyBusinessHot News

MTN CEO Ralph Mupita: Nigerian, Ugandan fintech spinoffs entering final stages

The Johannesburg-based company is separating these units to fulfill a 2023 agreement with Mastercard.

Omokolade Ajayi Omokolade Ajayi
Ghana’s Sentuo oil refinery.
Hot NewsBusiness

Ecobank leads $200 million push to double Ghana’s Sentuo Oil Refinery capacity

The bank is organizing a syndicate of domestic, regional, and international lenders to secure the required capital.

Omokolade Ajayi Omokolade Ajayi
South African executive Dawie de Villiers.
Hot NewsBusiness

South African executive Dawie de Villiers steers Alexforbes to $44 billion in assets

The group said total closing assets rose in step with firm demand for its platform and retail offerings, even as…

Omokolade Ajayi Omokolade Ajayi
Business moguls reshaping African pharma
BusinessHot News

Top 10 pharmaceutical moguls behind Africa’s healthcare

Africa’s pharma sector pushes local production as import dependence exceeds 70%, exposing supply chains to global shocks and disruptions.

Feyisayo Ajayi Feyisayo Ajayi
Titan Fincap restructuring deal
BusinessBillionairesHot News

Titan Fincap restructures $305 million Shoprite share-backed financing in major collateral overhaul 

Titan Fincap has restructured $305 million Shoprite share-backed financing, consolidating collateral and derivative positions tied to Christo Wiese

Feyisayo Ajayi Feyisayo Ajayi
FirstRand earnings 2025
BusinessHot News

South African banker Harry Kellan earns $3 million pay at FirstRand in 2025

South African banker Harry Kellan earned $3.04 million in 2025 at FirstRand, overseeing First National Bank and WesBank leadership performance…

Feyisayo Ajayi Feyisayo Ajayi
NERC headquarters building in Abuja’s Central Business District, Nigeria’s capital administrative district.
Hot NewsBusiness

Nigeria’s power sector bleeds $230 million over unpaid energy bills in Q1 2026

11 utility firms failed to capture a significant portion of power supplied while failing to collect revenue from billed customers.

Omokolade Ajayi Omokolade Ajayi
Ultra-modern hospital in Kenya showcasing advanced medical facilities and contemporary architecture.
Hot NewsBusiness

Kenya’s cancer care drive gets boost with $4.7 million specialist hospital in Nairobi

The investment comes at a time when demand for cancer treatment continues to rise across Kenya.

Omokolade Ajayi Omokolade Ajayi
Nigerian mogul Samuel Bolarinde.
ExclusiveBusinessHot News

Nigerian mogul Samuel Bolarinde’s Vitafoam stake nears $25 million

This impressive increase represents a paper gain of N17.75 billion ($13.6 million) in less than six months, leaving the total…

Omokolade Ajayi Omokolade Ajayi
Boschendal wine estate transformation
LuxuryHot News

How Boschendal, sold for $50 million, became part of South African billionaire Tony Tabatznik’s winelands empire 

Boschendal evolved from a $50 million sale into a diversified rural economy under billionaire Tony Tabatznik’s Cape Winelands strategy.

Feyisayo Ajayi Feyisayo Ajayi
Johannesburg-based investor Genevieve Sangudi.
Hot NewsBusiness

Johannesburg-based investor Genevieve Sangudi, partners lead Alterra to 10 exits in 30 months

The latest transaction is the sale of TiAuto Investments to Tokyo-listed trading and investment group Marubeni Corporation, which operates in…

Omokolade Ajayi Omokolade Ajayi
Technology
Hot NewsTechnology

Top 5 government-backed tech initiatives in Africa

Governments across Africa are investing in technology, space research, and digital infrastructure to drive innovation.

Namibia’s Finance Minister delivers remarks at a news briefing in Windhoek after the country’s $750 million Eurobond repayment.
BusinessLuxury

Namibia turns inward after settling $750 million Eurobond

At a Glance Namibia has drawn a line under one of the biggest financial obligations in its history, repaying a $750 million Eurobond that had weighed on its public finances for nearly a decade. The redemption marks a turning point for the southern African nation, signaling its intention to rely more on domestic markets rather than external borrowing.  Finance Minister…

Shoprite opens 268 stores in South Africa
BusinessHot News

South Africa’s top retailer Shoprite opens 268 stores in $239 million push

Shoprite Group, South Africa's largest retailer and biggest private employer, has opened 268 stores across the country after investing R3.9 billion ($239 million) in its expansion plans.  The retailer exceeded its target of opening 223 stores for the 2026 financial year, reaching the milestone within 11 months as it continued to strengthen its presence across South Africa.  The expansion comes…

Oluwatosin Alao Oluwatosin Alao
Simba Corporation Imperial Bank withdrawals
Hot NewsBusiness

Adil Popat draws attention after Simba withdrew $5.6 million before Imperial Bank collapse

Simba Corporation withdrew $5.6 million from Imperial Bank days before its 2015 collapse, leaving over 50,000 depositors stranded.

Feyisayo Ajayi Feyisayo Ajayi
Spar revives 2U delivery app to challenge Checkers Sixty60 in South Africa
BusinessTechnology

Spar revives 2U delivery app to challenge Checkers Sixty60 in South Africa

Spar is revamping its 2U delivery app as it seeks to challenge Checkers Sixty60 in South Africa's online grocery market.

Oluwatosin Alao Oluwatosin Alao
Africa library transformation
BusinessHot News

20 biggest libraries in Africa

Africa’s largest libraries are transforming into digital knowledge hubs driving education, research, and cultural preservation across the continent.

Feyisayo Ajayi Feyisayo Ajayi
BusinessHot News

Ethiopia’s Allied Chemicals to get $17 million from IFC to build fertilizer plant

IFC plans up to $17 million financing for Allied Chemicals to build Ethiopia’s first private fertilizer plant, boosting supply and farm productivity.

Feyisayo Ajayi Feyisayo Ajayi
TechnologyBusinessHot News

Elon Musk’s SpaceX beats Saudi Aramco in landmark IPO, raising $75 billion

SpaceX raises $75 billion in a record IPO, surpassing Saudi Aramco and valuing Elon Musk’s company at $1.77 trillion.

Omokolade Ajayi Omokolade Ajayi
Show More