Tag: Business

Ethiopia’s richest man, Mohammed Al Amoudi.
BillionairesBusinessHot News

Ethiopian billionaire Mohammed Al-Amoudi’s net worth drops below $10 billion

Mohammed Al-Amoudi’s net worth falls to $9.74 billion as asset valuations decline, while MIDROC targets 120,000 employees and 10 new hotels.

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Mauritius’ ER Group
CompaniesBusinessHot News

Mauritius’ ER Group posts $153.7 million profit as hospitality drives growth

ER Group posted $153.7 million profit as hospitality and travel drove growth, with operating cash flow rising to $235 million.

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Malagasy tycoon Hassanein Hiridjee
CompaniesHot NewsTechnology

Hassanein Hiridjee’s Axian expands Senegal data center for Africa’s AI boom

Hassanein Hiridjee’s Axian Group is expanding its Dakar data center as Africa’s demand for AI and cloud computing drives demand for local server capacity.

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South African billionaire Patrice Motsepe.
BillionairesHot NewsMarkets

Africa’s first Black billionaire Patrice Motsepe loses $400 million in mining rout

Patrice Motsepe’s net worth has fallen by $400 million to $3.3 billion as weaker mining stocks pressure his African Rainbow Minerals and Harmony Gold holdings.

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South African executive Simon Baloyi
ExecutivesBusinessHot News

South African executive Simon Baloyi bags $2.6 million pay as Sasol profit jumps

Sasol CEO Simon Baloyi’s pay surged 65.4% to R42.87 million ($2.57 million) in 2026, driven by higher incentives as the energy group’s profits doubled.

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CIEL Group corporate logo representing the Mauritius-based conglomerate operating across hotels, healthcare, finance, and textiles.
BusinessCompaniesHot News

Mauritius conglomerate CIEL posts $856 million revenue on tourism boom

CIEL Limited reported an 8% revenue rise to $856.1 million for FY26, driven by strong gains in hospitality and healthcare despite regional textile headwinds.

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Voco hotels, IHG Hotels & Resorts’ fastest-growing premium brand
HospitalityBusinessHot NewsLifestyle

IHG’s voco hotels opens first East African property in Nairobi

IHG Hotels & Resorts has opened voco Nairobi Airport Suites, its first voco property in East Africa, adding 112 suites near Jomo Kenyatta International Airport.

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Alex Karp, the chief executive officer of Palantir Technologies
BillionairesEntrepreneursHot News

Richest Black US billionaire Alex Karp buys 37,000-acre Swedish forest

Palantir CEO Alex Karp buys 37,000 acres of Swedish forest for about $22 million as his fortune surpasses $20 billion.

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IBL Group headquarters at Caudan Waterfront in Port Louis, Mauritius, home to the Mauritian conglomerate.
CompaniesBusinessHot News

Mauritian giant IBL Group hits $2.6 billion in revenue on strong retail boom

IBL Group increased full-year revenue 13.2 percent to $2.6 billion as retail, consumer brands, hospitality and services drove growth.

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Zimbabwean Farm
BusinessHot News

Zimbabwe says land seizure compensation reaches $508 million

Zimbabwe says compensation to White farmers whose land was seized has reached $508 million, as it seeks to resolve the land reform dispute.

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Ugandan billionaire Sudhir Ruparelia
BusinessHot NewsInvestments

Ugandan billionaire Sudhir Ruparelia buys prime Old Mutual Kampala asset

Sudhir Ruparelia acquires Old Mutual’s UAP Insurance Building on Kimathi Avenue, expanding his Kampala property portfolio.

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Volobe Dam Expands Power Access
EnergyBusinessHot News

AXIAN Energy-backed Malagasy hydro project to power 2 million, create 1,500 jobs

AXIAN Energy has sealed an agreement for Madagascar’s 120 MW Volobe hydro project, a move set to power 2 million people and add 1,500 local jobs.

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