Turnstar House, Turnstar Holdings commercial property located in Main Mall, Gaborone, Botswana.
BusinessHot News

Botswana’s Turnstar reports $26.1 million rental income; profit falls 64%

Rental income rose 3 percent to BWP354.4 million ($26.1 million), supported by stable occupancy across its retail and commercial assets.

Omokolade Ajayi Omokolade Ajayi
Peter Ndegwa Safaricom compensation 2025
BusinessHot News

Safaricom’s CEO Peter Ndegwa pockets $2.3 million salary in 2025

Safaricom CEO Peter Ndegwa earned $2.28 million in 2025, up 16.6%, as profit declined despite revenue and asset growth.

Feyisayo Ajayi Feyisayo Ajayi
Nigerian billionaire Abdul Samad Rabiu.
BillionairesBusinessHot News

Nigerian billionaire Abdul Samad Rabiu becomes Africa’s second-richest as fortune hits $15.8 billion

The latest increase follows a sharp gain of $1.8 billion in a single week, driven largely by a rally in…

Omokolade Ajayi Omokolade Ajayi
Shaun Roos corruption case
BusinessHot News

South African court denies bail to businessman Shaun Roos in $95 million Cape contracts case

Cape Town court denies bail to businessman Shaun Roos over $95 million corruption case tied to municipal contracts and bribery…

Feyisayo Ajayi Feyisayo Ajayi
Zafiri IFC off-grid Africa
BusinessHot News

Mauritius’ Zafiri fund targets $1 billion valuation with IFC’s $120 million off-grid push in Africa

Zafiri targets $1 billion valuation as IFC commits $120 million to expand off-grid energy and clean cooking access across Africa.

Feyisayo Ajayi Feyisayo Ajayi
Egyptian billionaire Naguib Sawiris, one of Africa's richest individuals.
BillionairesBusinessHot News

Egyptian billionaire Naguib Sawiris’ net worth hits $11.3 billion as $400 million flows into gold

Through La Mancha, he holds key positions in Endeavour Mining and Evolution Mining.

Omokolade Ajayi Omokolade Ajayi
James Mwangi Equity Group stake
BusinessHot News

Kenya’s richest banker James Mwangi’s stake in Equity Group tops $70 million

James Mwangi’s Equity Group stake tops $70 million as shares rally, boosting wealth and reinforcing investor confidence in the lender.

Feyisayo Ajayi Feyisayo Ajayi
Metair $198 million debt refinance
BusinessHot News

South Africa’s Metair secures $198 million debt refinance, extends maturity to 5 years

Metair refinances $198 million debt, extending maturity to five years to ease pressure and support capital spending ahead of FY2026…

Feyisayo Ajayi Feyisayo Ajayi
Access Bank headquarters in Lagos, corporate headquarters of Access Holdings Plc.
BusinessHot News

Nigeria’s Access Holdings skips 2025 dividend as $380 million impairment hits income

Profits improved, but rising impairment costs and weaker comprehensive income left capital preservation ahead of dividend payments this year.

Omokolade Ajayi Omokolade Ajayi
Nedbank NCBA acquisition Kenya
BusinessHot News

South Africa’s Nedbank secures 77% backing for $856 million NCBA acquisition in Kenya

Nedbank secures 77% backing for its $856 million NCBA stake acquisition, advancing a cross-border deal to expand into Kenya’s fast-growing…

Feyisayo Ajayi Feyisayo Ajayi
Amadou Diallo, Senegalese executive and CEO of Aramex.
BusinessGlobal NewsHot News

Senegalese executive Amadou Diallo named CEO of logistics giant Aramex

His appointment, which took effect on May 1, 2026, places him at the helm of a business that generated $1.73…

Omokolade Ajayi Omokolade Ajayi
BusinessHot News

Egypt increases gas prices for industries as energy costs fluctuate

Officials framed the decision as part of ongoing adjustments meant to manage rising import costs without disrupting basic consumer supply.

Omokolade Ajayi Omokolade Ajayi
Marvin Ellison Lowe’s compensation
BusinessHot News

Marvin Ellison earns $22 million as Lowe’s CEO, cementing position among top Black executives

Marvin Ellison earns $21.6 million in 2025 as Lowe’s posts strong revenue growth, reflecting performance-linked executive compensation.

Feyisayo Ajayi Feyisayo Ajayi
Spear REIT investment
BusinessHot News

PIC joins top investors in Spear REIT, acquires $22 million stake

PIC has acquired a $22 million stake in Spear REIT, securing 6.557% holding and ranking among top five shareholders in…

Feyisayo Ajayi Feyisayo Ajayi
FDH Bank profit growth
BusinessHot News

Malawi’s FDH Bank posts $85 million profit amid Mozambique expansion

FDH Bank profit nearly doubles to $85 million in 2025, driven by strong lending growth, rising interest income and regional…

Feyisayo Ajayi Feyisayo Ajayi
Salungano $182 million revenue coal output
BusinessHot News

South Africa’s Salungano reports $182 million revenue on stronger coal output

Salungano reports $182 million revenue as coal output and sales surge, boosting profit and strengthening balance sheet.

Feyisayo Ajayi Feyisayo Ajayi
Rocking the Daisies 2026 lineup
EntertainmentHot News

Jorja Smith to headline Rocking the Daisies 2026 festival in Cape Town

Jorja Smith will headline Rocking the Daisies 2026 in Cape Town, marking her first South Africa show as organizers unveil…

Feyisayo Ajayi Feyisayo Ajayi
Lanzerac Estate forfeiture dispute
BusinessHot News

Lanzerac Estate sues Apex Bank over $13 million forfeiture tied to Former Steinhoff CEO Markus Jooste

Lanzerac Estate contests SARB’s $13 million forfeiture tied to Jooste-era transactions, raising constitutional questions in Gauteng High Court case

Feyisayo Ajayi Feyisayo Ajayi
Stephen Saad Aspen stake
BillionairesBusinessHot News

South African billionaire Stephen Saad’s Aspen stake nears $500 million after turbulent year

Stephen Saad’s Aspen stake rises $87 million to nearly $500 million as shares rebound after regulatory setbacks and losses.

Feyisayo Ajayi Feyisayo Ajayi
BusinessHot News

After $555 million profit, Equity targets Angola, Zambia, Mozambique acquisitions

The group is considering acquisitions in Southern Africa, with Angola, Zambia, and Mozambique central to its next move.

Omokolade Ajayi Omokolade Ajayi
Sheraton Addis
Hot NewsLuxury

Sheraton Addis: A beacon of luxury in Ethiopia’s capital

Located in the heart of Addis Ababa, Sheraton Addis blends African charm with five-star luxury, offering top-tier comfort, cuisine, and culture.

Africa’s Clean Power Boom Gains Global Backing
BusinessHot News

Morocco’s 2025 mega deals

Morocco secures multi-billion deals in 2025, boosting green hydrogen, rail, and industrial growth across key sectors.

Turnstar House, Turnstar Holdings commercial property located in Main Mall, Gaborone, Botswana.
BusinessHot News

Botswana’s Turnstar reports $26.1 million rental income; profit falls 64%

Gaborone-based property investment company Turnstar posts $26.1 million rental income; profit falls 64% amid valuation and FX losses.

Omokolade Ajayi Omokolade Ajayi
Peter Ndegwa Safaricom compensation 2025
BusinessHot News

Safaricom’s CEO Peter Ndegwa pockets $2.3 million salary in 2025

Safaricom CEO Peter Ndegwa earned $2.28 million in 2025, up 16.6%, as profit declined despite revenue and asset growth.

Feyisayo Ajayi Feyisayo Ajayi
Nigerian billionaire Abdul Samad Rabiu.
BillionairesBusinessHot News

Nigerian billionaire Abdul Samad Rabiu becomes Africa’s second-richest as fortune hits $15.8 billion

Nigerian billionaire Abdul Samad Rabiu reaches $15.8 billion net worth, becoming Africa’s second-richest as BUA Cement shares rally.

Omokolade Ajayi Omokolade Ajayi
Shaun Roos corruption case
BusinessHot News

South African court denies bail to businessman Shaun Roos in $95 million Cape contracts case

Cape Town court denies bail to businessman Shaun Roos over $95 million corruption case tied to municipal contracts and bribery allegations.

Feyisayo Ajayi Feyisayo Ajayi
Suluhu Hassan, Kagame expand Tanzania-Rwanda ties on trade, energy
BusinessTechnology

East Africa gains as Tanzania, Rwanda deepen economic ties

Trade links between Tanzania and Rwanda are entering a new phase as both countries move to strengthen cooperation in commerce, infrastructure and energy, underscoring a wider push for economic integration across East Africa.  The renewed partnership follows talks in Dar es Salaam between Samia Suluhu Hassan and Paul Kagame, where both leaders agreed to broaden cooperation in trade, investment, transport,…

Oluwatosin Alao Oluwatosin Alao
Zafiri IFC off-grid Africa
BusinessHot News

Mauritius’ Zafiri fund targets $1 billion valuation with IFC’s $120 million off-grid push in Africa

Zafiri targets $1 billion valuation as IFC commits $120 million to expand off-grid energy and clean cooking access across Africa.

Feyisayo Ajayi Feyisayo Ajayi
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