BusinessHot News

Kenya scrambles for World Bank rescue as Iran war shakes economy

Kenya seeks World Bank support as Iran conflict-driven oil prices strain inflation, currency stability and economic growth outlook.

Omokolade Ajayi Omokolade Ajayi
Shirley Machaba CEO PWC South Africa
BusinessExclusive

Meet Shirley Machaba: First Black woman to lead PwC South Africa

Shirley Machaba appoints as PwC South Africa’s first Black woman CEO, leading audit reforms and restoring trust in governance at PwC South Africa

Timilehin Adejumobi Timilehin Adejumobi
Meta ends Sama deal; 1,100 Kenyan jobs lost as AI takes over
BusinessTechnology

Meta drops Sama, leaving 1,100 Kenyan workers facing layoffs

Meta Platforms is ending its contract with Kenyan outsourcing firm Sama, a decision that will leave more than 1,100 people out of work and reshape how the company manages content moderation in Africa.  The move marks a shift for the Facebook owner as it leans more on artificial intelligence to police harmful content, reducing its reliance on large teams of…

Oluwatosin Alao Oluwatosin Alao
Spear REIT Watergate
BusinessHot News

Spear REIT acquires Watergate Centre in Cape Town for $27 million

Spear REIT to acquire Cape Town’s Watergate Centre for $27 million, boosting Western Cape retail assets and stable rental income.

Feyisayo Ajayi Feyisayo Ajayi
Microsoft
BusinessTechnology

Microsoft expands Africa footprint with $329 million South Africa investment

Microsoft invests $329 million in South Africa to expand cloud infrastructure, scale AI capacity, and strengthen the digital skills pipeline.

Timilehin Adejumobi Timilehin Adejumobi
Prosus Delivery Hero stake sale
BusinessHot News

South Africa’s Prosus sells $319 million Delivery Hero stake to Uber

Prosus sells $318 million Delivery Hero stake to Uber, meeting EU conditions while unlocking value from its global food delivery holdings.

Feyisayo Ajayi Feyisayo Ajayi
BusinessHot News

South African billionaire Tshepo Mahloele offloads Capitec shares worth over $840 million

South African billionaire Tshepo Mahloele has reduced his indirect Capitec stake, offloading shares worth about $840m, JSE filing shows disclosed

Feyisayo Ajayi Feyisayo Ajayi
Elektron, Odu'a Investment $40 million power plant
BusinessHot News

Odu’a Investment, Elektron Energy to build $40 million Lagos power plant

Odu’a, Elektron launched a $40 million embedded power plant in Lagos to deliver reliable energy and cut costs for manufacturers.

Timilehin Adejumobi Timilehin Adejumobi
Sameer Africa profit 2025
BusinessHot News

Merali family’s Sameer Africa posts $2.1 million profit in 2025

Merali family-owned Sameer Africa posted $2.1 million profit in 2025, driven by revenue growth, efficiency gains and stronger operations outlook.

Feyisayo Ajayi Feyisayo Ajayi
Cameroon cocoa downturn
BusinessHot News

Cameroon’s richest woman Kate Fotso’s Telcar Cocoa faces weakest cocoa prices in 3 years

Cameroon’s cocoa slump hits Telcar Cocoa as prices fall below expectations, marking weakest season in three years.

Feyisayo Ajayi Feyisayo Ajayi
PSG Financial Services dividend
BusinessHot News

South African billionaire Mouton family’s PSG Financial Services declares $50 million dividend payout

PSG Financial Services declares $49.48 million dividend as earnings, assets under management and profitability rise in 2026.

Feyisayo Ajayi Feyisayo Ajayi
rewrite in 80 character: Newmark opens luxury Thitaka River Lodge in Namibia, expanding Africa safari tourism with eco-friendly design and premium travel experiences. Newmark opens Namibia luxury safari lodge, boosting eco tourism
LuxuryTourism

Newmark expands Africa footprint with new Namibia safari lodge

Newmark Hotels & Reserves is expanding its presence in Africa’s luxury tourism market with the launch of Thitaka River Lodge, a tented safari camp set to open in July in Namibia’s Bwabwata National Park. The project comes as demand for high-end, nature-based travel continues to rise, drawing global investors and operators to the continent.  The lodge is located in the…

Oluwatosin Alao Oluwatosin Alao