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
MTN Group logo, representing the pan-African telecom operator.
TechnologyBusinessHot News

MTN targets Nigeria’s $236 billion credit gap with direct lending push

The strategy underscores MTN's plan to capture a larger share of Africa’s underserved credit market, where access to formal banking…

Omokolade Ajayi Omokolade Ajayi
Mama Ngina Kenyatta
Hot NewsBusiness

Brookside Dairy, owned by Kenya’s Kenyatta family, pays farmers $2 million

The payout is linked to targets aimed at improving hygiene standards, stabilizing output, and meeting defined quality thresholds.

Omokolade Ajayi Omokolade Ajayi
Victoria Falls Hotel stake sale
LuxuryHot News

Zimbabwe’s Meikles revives Victoria Falls Hotel stake sale 6 months after reversal

Meikles Limited plans to sell its 50% Victoria Falls Hotel stake, signaling strategic shift toward retail focus and governance tensions.

Feyisayo Ajayi Feyisayo Ajayi
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.

KCB BANK
BusinessHot News

KCB Group backs Kenya leather industry with new strategic partnerships

KCB signs deals to unlock Kenya’s leather sector, boosting exports and SME financing

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

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

Standard Bank plans a lead advisory role in the Dangote refinery initial public offering while signaling support for future expansion across Africa.

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
Fidelis Ayebae, founder of Fidson Healthcare.
BusinessHot News

Nigerian pharma mogul Fidelis Ayebae loses $20 million from Fidson stake

Fidson Healthcare stake decline wipes $20 million from Fidelis Ayebae holding as NGX pressure hits pharma stock after rights issue.

Timilehin Adejumobi Timilehin Adejumobi
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
Isuzu Motors
BusinessTechnology

Isuzu commits $30.87 million to strengthen South Africa’s auto industry

Isuzu invests $33.88 million in South Africa to boost auto localisation, create jobs and expand local supplier capacity.

Oluwatosin Alao Oluwatosin Alao
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