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South African court dismisses claim against Philisiwe Sibiya’s Shingai Group

South African court dismisses a R4.378 million ($263,524) claim against Philisiwe Sibiya’s Shingai Group, allowing the company to defend the case at trial.

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Verod Capital targets $250 million for West African private equity fund as IFC proposes $15 million

Verod Capital targets $250 million for its West African growth fund as IFC proposes up to $15 million in investment support.

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Guinea entrepreneur Ibrahima Diallo’s SOGUIPAL gets $5.6 million loan to expand yogurt production

Guinean entrepreneur Ibrahima Diallo’s SOGUIPAL secures a $5.6 million Proparco loan to expand yogurt production, create jobs and boost local food processing.

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Equity Bank backs Peter Njonjo’s $100 million Selu Africa farming expansion

Equity Bank backs Peter Njonjo’s $100 million Selu Africa expansion to boost maize production through irrigation and precision farming in Kenya.

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Nigerian businessman Oba Otudeko’s Ikeja Hotels stake tops $10 million as 9M profit hits $4 million

Nigerian businessman Oba Otudeko’s Ikeja Hotels stake tops $10 million as Ikeja Hotel group posts $3.93 million in nine-month profit.

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Indian tycoons Sandesara brothers’ energy firm completes acquisition of Eni’s Nigerian oil unit

Sandesara brothers’ Sterling Oil completes its acquisition of Eni’s Nigerian subsidiary, AENR, adding a 5% stake in the Renaissance joint venture.

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Tanzanian tycoon Jaffer Abri ASAS signs deal to acquire Oryx Energies’ gas business

Tanzanian tycoon Jaffer Abri ASAS’s ASAS Energies agrees to acquire Oryx Energies’ gas business in Tanzania, pending regulatory approval.

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Nigerian banker Sa’adat Mohammed’s Jaiz Bank stake falls to $24 million from over $40 million

Sa’adat Mohammed’s indirect stake in Jaiz Bank has fallen to $24 million from $41 million as shares slide ahead of third-quarter results.

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Kenyan tycoon Narendra Raval’s Devki Group plans Nyeri cement plant after $385 million Kitui project

Devki Group plans a cement plant in Kenya’s Nyeri County after a $385 million Kitui project, promising jobs and lower transport costs.

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