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Absa renews and expands partnership with NTT DATA to strengthen its financial systems across Africa.

NTT DATA renews Absa deal to advance digital finance across Africa

Africa’s banking sector is steadily moving toward modern financial systems as lenders invest in technology to manage operations more efficiently. From cloud platforms to integrated finance software, banks are upgrading core systems to improve reporting, strengthen compliance and gain faster access to reliable data. The shift reflects broader changes across the continent’s financial industry. As competition grows and regulations tighten, banks are under pressure to modernize internal systems that support everything from accounting to group reporting. For major lenders such…

Oluwatosin Alao March 5, 2026

Featured

Africa’s largest telecom operator MTN plans Syria exit, cuts Middle East exposure

MTN Group plans to exit Syria, reducing Middle East exposure, while Nigerian operations boost profits and strengthen earnings.

Omokolade Ajayi March 4, 2026

Exxaro seals $660 million manganese deal, lifting South Africa’s supply role

African mining

Exxaro acquires South African manganese mines in $660 million deal

South Africa’s mining sector is seeing another major consolidation. Exxaro Resources has completed a R10.6 billion ($660 million) acquisition of manganese assets, expanding its footprint in one of the world’s most important mineral belts. The deal, agreed with Ntsimbintle Holdings and OMH, gives Exxaro full ownership of Ntsimbintle Mining and a controlling interest in the Tshipi Borwa Mine. The transaction closed on Feb. 27, 2026, after key conditions were met or waived. For Exxaro, long known as a coal producer,…

Oluwatosin Alao March 2, 2026

365 Digital

Truecaller and 365 Digital strike Kenya and South Africa Ad deal

Truecaller is stepping up its expansion in Africa’s digital advertising market with a new exclusive reseller agreement with 365 Digital in Kenya and South Africa. The deal strengthens the company’s push to grow advertising revenue in two of the continent’s most active mobile markets. The partnership gives 365 Digital sole rights to sell Truecaller Ads inventory in both countries. For brands and media agencies, it creates a direct route to Truecaller’s large user base and its first-party data, which advertisers…

Oluwatosin Alao March 2, 2026

Adebayo Ogunlesi

Nigerian billionaire Adebayo Ogunlesi’s GIP nears deal to acquire power firm AES

Global Infrastructure Partners, founded by Adebayo Ogunlesi, is nearing a deal with EQT to acquire AES Corp. as power demand tied to AI rises.

Omokolade Ajayi March 2, 2026

Korean consortium plans $10 billion AI Data Centre in Amanzimtoti

Amanzimtoti eThekwini

Korea South Power Consortium plans $10 billion AI data center in South Africa

South Africa could host a $10 billion South Korean AI data centre in Durban

Timilehin Adejumobi March 1, 2026

Spar hit by investor selloff after $250m market value loss in one week

Angelo Swartz

Spar faces investor exit after $250 million value loss in a week

South Africa’s retail sector is under renewed strain after Spar Group lost about $250 million in market value in a week, sending its shares to a 16-year low and unsettling investors on the Johannesburg Stock Exchange. The sharp decline follows a wave of selling that has erased nearly a quarter of the grocery retailer’s market capitalization since last Friday. The drop has raised fresh questions about leadership stability, earnings pressure and store-level performance at one of the country’s largest food…

Oluwatosin Alao February 28, 2026

Cartrack

South African billionaire Zak Calisto eyes insurance with King Price stake

South African billionaire Zak Calisto, is set to acquire a stake in insurance firm King Price.

Timilehin Adejumobi February 28, 2026

Egypt high-speed rail

Egypt builds high-speed rail linking Red Sea and Mediterranean

Egypt is pressing ahead with construction of its first high-speed electric railway, a project officials say will create a direct land link between the Red Sea and the Mediterranean. Leaders have described it as a “Suez Canal on rails,” underscoring its role in trade and transport. The government sees the line as a key part of its economic reform program, which has focused heavily on infrastructure spending. With global supply chains under strain in recent years, Cairo is betting that…

Oluwatosin Alao February 27, 2026