BusinessHot News

Acsion approves $1 million hotel contract variation in related-party deal

Acsion approves $1 million variation orders on a related-party hotel contract, raising total project value to R104.75 million.

Feyisayo Ajayi Feyisayo Ajayi
BusinessHot News

South Africa’s Woolworths to buy $300 million convenience foods supplier, in2food

The deal reflects Woolworths’ focus on strengthening key parts of its premium food value chain.

Omokolade Ajayi Omokolade Ajayi
Africa listed hotel companies
Hot NewsLuxury

Why Africa’s hospitality industry has few listed hotel brands

Africa’s hotel sector is fragmented, with few listed firms as local owners control assets while global brands dominate management.

Feyisayo Ajayi Feyisayo Ajayi
ExclusiveHot News

MTN CEO Ralph Mupita earns $4.1 million as telecom giant returns to profit

The payout came as MTN reported a sharp financial recovery, swinging from a loss to a profit of R47.43 billion…

Omokolade Ajayi Omokolade Ajayi
Cytonn asset auction Kenya
BusinessHot News

Kenya launches auction of Cytonn asset linked to Edwin Dande to recover $85 million for investors

Kenya auctions Cytonn real estate linked to Edwin Dande to recover $85 million, aiming to repay investors and restore confidence…

Feyisayo Ajayi Feyisayo Ajayi
Labat Africa AI technology distribution
BusinessHot News

Labat Africa’s Ahnamu inks global tech supply deal with Dubai’s Shafi Inc

Labat Africa’s Ahnamu signs global AI tech supply deal with Dubai’s Shafi Inc, expanding Africa’s computing and ICT footprint.

Feyisayo Ajayi Feyisayo Ajayi
IFC backs Angola SMEs with trade finance facility
BusinessHot News

IFC backs trade finance facility to boost Angola’s SMEs and supply chains

IFC has launched trade finance facility to support Angolan businesses, particularly small and medium enterprises (SMEs), strengthening cross-border trade

Feyisayo Ajayi Feyisayo Ajayi
Transcorp Hotels valuation
Hot NewsLuxury

Nigeria’s Transcorp Hotels tops list as Africa’s most valuable hospitality brand with $1.5 billion capitalization

Transcorp Hotels Plc has emerged as Africa’s most valuable publicly listed hospitality company, with a market capitalization exceeding $1.5 billion…

Feyisayo Ajayi Feyisayo Ajayi
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
BusinessHot News

Acsion approves $1 million hotel contract variation in related-party deal

Acsion approves $1 million variation orders on a related-party hotel contract, raising…

Feyisayo Ajayi Feyisayo Ajayi
Visa and Bank of Abyssinia expand partnership to boost digital payments
BusinessTechnology

Visa teams with Bank of Abyssinia to drive Africa digital finance

Global payments company Visa Inc. is deepening its presence in East Africa…

Oluwatosin Alao Oluwatosin Alao
TotalEnergies restarts Libya’s Mabruk oil field after nearly 10 years.
BusinessTechnology

TotalEnergies reopens Libya oil field after decade, boosting Africa output

TotalEnergies has resumed production at Libya’s Mabruk oil field, bringing a key…

Oluwatosin Alao Oluwatosin Alao
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