Tanzanian billionaire Mohammed Dewji pledges $250 million in Mozambique to expand MeTL Group’s footprint and create 20,000 local jobs.
BillionairesBusinessHot News

East Africa’s richest man Mohammed Dewji to invest $250 million in Mozambique, create 20,000 jobs

Dewji, the president and owner of MeTL Group, made the commitment after meeting Mozambican President Daniel Chapo in Maputo on…

Omokolade Ajayi Omokolade Ajayi
Engr. Mohammed Sani Jaoji
BusinessHot News

Geregu Power pays $4.45 million to clear bond default as acting CEO Mohammed Sani Jaoji steps in

The payment came shortly after Mohammed Sani Jaoji took over as acting chief executive officer on Aug. 17.

Omokolade Ajayi Omokolade Ajayi
South African-Swazi billionaire Natie Kirsh
BillionairesBusinessHot News

South African-Swazi billionaire Natie Kirsh loses $600 million as fortune falls below $20 billion

The decline comes after a sharp rise in Kirsh’s wealth earlier this year.

Omokolade Ajayi Omokolade Ajayi
DTB executives during the opening of the DTB Kilimani branch in Nairobi.
BusinessHot News

Kenya’s DTB posts $75.7 million half-year profit as loans, deposits grow

DTB’s total assets rose more than 10 percent from a year earlier to KSh675 billion ($5.21 billion) by June.

Omokolade Ajayi Omokolade Ajayi
Equity Group headquarters in Nairobi, Kenya.
BusinessHot News

East Africa’s largest lender, Equity Group, sees first-half profit top $350 million

Profit before tax increased 39 percent to KSh57.8 billion ($446.5 million), from KSh41.5 billion ($320.6 million).

Omokolade Ajayi Omokolade Ajayi
Harel Mallac & Co. Limited, a Mauritius-based diversified conglomerate.
BusinessHot News

Mauritius-based Harel Mallac returns to profit as first-half revenue hits $36 million

Revenue from continuing operations rose 12.2 percent to MUR1.68 billion ($36 million), from MUR1.49 billion ($32 million) in the same…

Omokolade Ajayi Omokolade Ajayi
Hacienda Ras El Hekma
Hot NewsBusinessLuxury

Palm Hills Developments secures $157 million financing to accelerate Palm Hills New Cairo

Palm Hills Developments secures $157 million financing to accelerate construction and deliveries at its Palm Hills New Cairo project in…

Feyisayo Ajayi Feyisayo Ajayi
Ali Dharani, Indian-born Namibian businessman
BusinessHot News

Ali Dharani: Indian-born Namibian businessman behind Rani Group’s retail empire

Indian-born Namibian businessman Ali Dharani built Rani Group from a border trading business into a nationwide retail and manufacturing empire.

Feyisayo Ajayi Feyisayo Ajayi
Adrian Basson, Whitey Basson's Son
BusinessHot News

Adrian Basson: Shoprite heir turns $3 million Hungry Lion into a 500-store fast-food empire

Adrian Basson transformed Hungry Lion from a $1 million Shoprite-linked business into a 500-store African fast-food chain across nine countries.

Feyisayo Ajayi Feyisayo Ajayi
BusinessHot News

Namibia Consul Justin Anosike denies $1 million Dangote meeting fee

Namibia’s honorary consul in Nigeria denies seeking $1 million from Aliko Dangote to arrange a presidential meeting over a proposed…

Feyisayo Ajayi Feyisayo Ajayi
Nonesi Mall
LuxuryBusinessHot News

Vukile Property Fund opens $4.7 million Nonesi Mall expansion in South Africa

Vukile Property Fund has opened a $4.7 million Nonesi Mall expansion in South Africa, adding retail space, tenants and jobs…

Feyisayo Ajayi Feyisayo Ajayi
KAP
BusinessHot News

KAP revises Southern Cape forestry deal as PG Bison assets move to new buyer

KAP has revised its Southern Cape forestry deal, with PG Bison assets set to move to CPIH under amended transaction…

Feyisayo Ajayi Feyisayo Ajayi
Nigerian businessman and GTBank co-founder, Fola Adeola.
BusinessHot News

GTBank co-founder Fola Adeola gains $44 million as oil stake hits $271 million

The recovery follows a 19.7 percent rise in Aradel’s share price since July 2, from N1,275.80 ($0.94) to N1,526.80 ($1.14).

Omokolade Ajayi Omokolade Ajayi
Mauritius-based insurance group MUA Limited
BusinessHot News

Mauritius-based MUA posts $7.85 million first-half profit as home market drives growth

Profit after tax rose to Rs369 million ($7.85 million) in the six months ended June 30, from Rs249 million ($5.4…

Omokolade Ajayi Omokolade Ajayi
KC Luxury
BusinessHot News

Nigerian influencer Afolabi Michael arrested by NDLEA over cocaine worth $28 million destined for UK

Nigerian influencer Afolabi Kazeem Micheal, known as KC Luxury, was arrested after NDLEA seized cocaine worth nearly $28 million bound…

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

MTN Rwanda’s half-year profit more than triples to $11.7 million on mobile money, data growth

The Kigali-based telecom operator’s results were supported by higher revenue across its main businesses, tighter control of expenses and a…

Omokolade Ajayi Omokolade Ajayi
Tanzanian billionaire Mohammed Dewji
BillionairesBusinessHot News

Tanzanian billionaire Mohammed Dewji eyes regional growth and industrial expansion

The talks, held at the Julius Nyerere International Convention Centre, centered on expanding access to commercial credit for local enterprises…

Omokolade Ajayi Omokolade Ajayi
Egyptian billionaire Naguib Sawiris.
BillionairesHot News

Orascom Investment Holding approves $10 million loan, Naguib Sawiris-led board

Orascom Investment Holding approves a $10 million shareholder loan as Naguib Sawiris leads a new three-year board mandate.

Feyisayo Ajayi Feyisayo Ajayi
Nipool Shah
BusinessHot News

Meet Nipool Shah, Kenyan property tycoon behind Dunhill’s growing real estate empire

Kenyan businessman Nipool Shah has built Dunhill into a diversified property group spanning offices, malls, warehouses, homes and valuations.

Feyisayo Ajayi Feyisayo Ajayi
kenya Airways
Hot NewsBusiness

Kenya rushes to sell stake in troubled national airline by year-end

This process is currently ongoing and is targeted to be finalized by December 2026.

Omokolade Ajayi Omokolade Ajayi
Top Uganda banks shaping investor confidence
BusinessHot News

5 most valuable banks on the Uganda Securities Exchange

Uganda’s top five banks dominate the USE, led by Equity Bank, driving growth amid rising digital adoption and investor confidence.

Musbahu Bashir companies
BillionairesBusinessHot News

10 companies owned by Nigerian businessman, Musbahu Mohammed Bashir

Musbahu Bashir built a diversified empire across telecom, finance, energy and real estate, shaping Nigeria’s economy quietly.

Stella Okoli, founder and CEO of Emzor Pharmaceutical Industries Limited
BusinessHot News

Nigerian pharmacist Stella Okoli’s Emzor raises $20 million bond to boost drug production

Emzor $20 million bond will fund drug production, working capital and an antimalarial API plant in Nigeria.

Timilehin Adejumobi Timilehin Adejumobi
Trustco Group
BusinessHot News

Trustco board survives U.S. investor Sean Riskowitz’s shareholder challenge

Trustco board survives a shareholder challenge led by U.S. investor Sean Riskowitz as governance and regulatory concerns persist.

Timilehin Adejumobi Timilehin Adejumobi
Absa named custodian of South Africa’s Government pension fund
BusinessHot News

Absa named custodian of South Africa’s Government pension fund

Absa has been appointed master custodian of South Africa’s $217 billion GEPF, expanding its role in the country’s institutional investment market.

Oluwatosin Alao Oluwatosin Alao
Prosus
BusinessHot News

South African Billionaire Koos Bekker’s Prosus bets $100 million on India’s Navi

Prosus Navi investment puts $100 million into India’s fintech market, backing Navi ahead of a potential IPO and expanding its digital finance reach.

Timilehin Adejumobi Timilehin Adejumobi
Tanzanian billionaire Mohammed Dewji pledges $250 million in Mozambique to expand MeTL Group’s footprint and create 20,000 local jobs.
BillionairesBusinessHot News

East Africa’s richest man Mohammed Dewji to invest $250 million in Mozambique, create 20,000 jobs

Tanzanian billionaire Mohammed Dewji pledges $250 million in Mozambique to expand MeTL Group’s footprint and create 20,000 local jobs.

Omokolade Ajayi Omokolade Ajayi
Engr. Mohammed Sani Jaoji
BusinessHot News

Geregu Power pays $4.45 million to clear bond default as acting CEO Mohammed Sani Jaoji steps in

Geregu Power pays $4.45 million to clear its bond default as acting CEO Mohammed Sani Jaoji steps in to stabilize operations and finances.

Omokolade Ajayi Omokolade Ajayi
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