Africa’s richest person Aliko Dangote
BusinessBillionairesHot News

Aliko Dangote becomes world’s 36th richest man with $51.1 billion fortune

Dangote’s $51.1 billion fortune places him ahead of several prominent billionaires on the Forbes ranking.

Omokolade Ajayi Omokolade Ajayi
Terra Industries founders Nathan Nwachuku and Maxwell Maduka.
TechnologyBusinessHot News

Terra Industries wins $1 million mining security contract in Nigeria

The Jema’a project is one of Nigeria’s significant mineral assets, covering a multi-metallic deposit of gold, lithium, copper and nickel…

Omokolade Ajayi Omokolade Ajayi
Nairobi-based Watu
TechnologyBusinessHot News

Nairobi-based Watu secures $7 million debt facility from AHL Venture Partners

The new facility is intended to provide working capital for loan origination and business expansion rather than finance a specific…

Omokolade Ajayi Omokolade Ajayi
Kenya's Twiga Foods
BusinessHot News

Kenya’s Twiga Foods falls into administration after raising $185 million

The court-backed move strips company directors of executive authority and places its assets and operations squarely in the hands of…

Omokolade Ajayi Omokolade Ajayi
Optasia Limited, the Dubai-headquartered and JSE-listed fintech company
TechnologyBusinessHot News

Optasia profit surges 58% to $36.9 million on booming mobile financial services

The strong momentum prompted management to raise its full-year growth targets across revenue, earnings, and cash flow.

Omokolade Ajayi Omokolade Ajayi
Lucas Legabe
BusinessHot News

South African businessman Lucas Legabe granted bail over $13 million cocaine theft case

South African businessman Lucas Legabe was granted R50,000 ($3,080) bail over alleged theft of cocaine worth $13.31 million from a…

Feyisayo Ajayi Feyisayo Ajayi
Carrefour Kenya
BusinessHot News

Carrefour Kenya reports $377 million revenue amid rising local competition

The figures, disclosed by Dubai-based Majid Al Futtaim, which operates Carrefour in Kenya, show revenue rose from AED1.219 billion ($332…

Omokolade Ajayi Omokolade Ajayi
Abdirashid Duale
BusinessHot News

Abdirashid Duale: Somali tycoon behind Dahabshiil’s global expansion

Abdirashid Duale, Somali tycoon helped transform Dahabshiil from a Somali remittance business into a global financial-services group.

Feyisayo Ajayi Feyisayo Ajayi
Ninety One
BusinessHot News

Prudential Authority sanctions Ninety One Assurance over compliance failures

Ninety One Assurance faces R6 million ($372,232) in sanctions after South Africa’s Prudential Authority found Financial Intelligence Centre Act breaches.

Feyisayo Ajayi Feyisayo Ajayi
Gautam Adani
BusinessHot News

Adani Airports raises $1 billion from global investors at $18 billion valuation

Adani Airports will raise $1 billion from global investors at an $18 billion valuation to expand India’s aviation infrastructure.

Feyisayo Ajayi Feyisayo Ajayi
Thom Mpinganjira, founder of FDH Bank
BusinessBillionaires

Malawian tycoon Thom Mpinganjira sees FDH Bank stake fall by nearly $100 million 

Market data tracked by Shore Africa shows that the value of his holding has fallen by MWK170.85 billion ($98.41 million)

Timilehin Adejumobi Timilehin Adejumobi
Albaraka Bank
BusinessHot News

South Africa’s only fully fledged Islamic bank, Al Baraka, sanctioned by regulator

Albaraka Bank faces R1.6 million ($99,150) in penalties from South Africa’s Prudential Authority over cash reporting, suspicious transactions and compliance…

Feyisayo Ajayi Feyisayo Ajayi
Capitec Bank
BusinessHot News

South African Reserve Bank fines Michiel Le Roux’s Capitec Bank $1.74 million

South Africa’s central bank fined Capitec R28 million ($1.74 million) for customer due diligence, employee training and anti-money laundering control…

Feyisayo Ajayi Feyisayo Ajayi
Ugandan businessman Charles Mbire.
BusinessHot News

Ugandan businessman Charles Mbire’s MTN Uganda stake tops $100 million

Mbire, who is chairman and nonexecutive director of MTN Uganda, owns about 4 percent of the company through 895.56 million…

Omokolade Ajayi Omokolade Ajayi
Capitec Bank
BusinessHot News

South Africa’s Capitec expects 20% earnings leap on massive client surge

Capitec Bank expects half-year earnings to jump up to 20 percent after its client base surged past 26 million retail…

Omokolade Ajayi Omokolade Ajayi
South Korea’s Hyundai
BusinessHot News

South Korea’s Hyundai eyes Africa expansion in clean energy deal with AfDB

For Hyundai, the arrangement offers a door into African markets with institutional backing.

Omokolade Ajayi Omokolade Ajayi
Zarin Merali, Naushad Merali’s widow
BusinessHot News

Kenya’s Merali family expands empire with $2.6 million pharma plant

Zarin Merali remains at the center of the family’s business interests following her husband’s death in 2019.

Omokolade Ajayi Omokolade Ajayi
Wicknell Chivayo and President William Ruto
BusinessHot News

Zimbabwean businessman Wicknell Chivayo plans $200 million Kenya investment

Chivayo disclosed the plan after meeting Kenyan President William Ruto during a dinner in Kenya.

Omokolade Ajayi Omokolade Ajayi
Standard bank Group and CEO Sim Tshabalala
BusinessHot News

Standard Bank, JUMO launch framework to expand financial inclusion across Africa

Standard Bank and JUMO launch a social finance framework to expand responsible lending and financial inclusion across nine African markets.

Feyisayo Ajayi Feyisayo Ajayi
Pan African Resources
BusinessHot News

Pan African Resources approves $228 million plan to expand Mogale gold operations

Pan African Resources advances a $228 million Mogale gold expansion targeting 561,000 ounces over a 15-year project life.

Feyisayo Ajayi Feyisayo Ajayi
South Africa resort reopens with helicopter-only golf hole
TourismLuxury

South Africa resort reopens with helicopter-only golf hole

South Africa's Legend Golf & Safari Resort reopens with its helicopter-only Extreme 19th golf hole.

IFC-Lula partnership
BusinessHot News

South Africa economy gets lift as IFC, Lula back SME expansion

IFC and Lula Lend team up to support micro and small firms.

Qalaa Holdings
BusinessHot News

Qalaa Holdings targets 27.1% stake in Egypt refinery after QatarEnergy exit

Qalaa Holdings stake in Egypt’s refinery could rise to 27.1% after QatarEnergy exits, backed by a $75 million rights issue.

Timilehin Adejumobi Timilehin Adejumobi
Seychelles, Mauritius deepen economic ties beyond trade
BusinessGlobal News

Seychelles, Mauritius deepen economic ties beyond trade

Seychelles and Mauritius are expanding economic ties into investment, fisheries, agriculture and services as bilateral trade remains modest.

Oluwatosin Alao Oluwatosin Alao
airnergize-capital-fund-closing
BusinessHot News

Airnergize Capital closes $239 million clean tech fund with DBSA backing  

Airnergize Capital raises $239 million for its first clean tech fund as DBSA and major South African banks join investors.

Timilehin Adejumobi Timilehin Adejumobi
Africa’s richest person Aliko Dangote
BusinessBillionairesHot News

Aliko Dangote becomes world’s 36th richest man with $51.1 billion fortune

Aliko Dangote is now the world’s 36th-richest person with a $51.1 billion fortune as his refinery launches a $1.6 billion IPO.

Omokolade Ajayi Omokolade Ajayi
Lagos health-tech startup Lihaxa
TechnologyBusinessHot News

Lihaxa launches AI healthcare platform to simplify access to care in Nigeria

Lagos health-tech startup Lihaxa launched Ally, an AI tool on WhatsApp connecting patients to licensed doctors to ease clinic bottlenecks in Nigeria.

Omokolade Ajayi Omokolade Ajayi
Woolworths
BusinessHot News

Woolworths expands food business with new NOW NOW outlet in South Africa

Woolworths expands its NOW NOW food business with a new Somerset Mall outlet, taking its fast-casual concept to 10 dedicated locations in South Africa.

Oluwatosin Alao Oluwatosin Alao
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