Tag: Business

Aradel refinery chief Temitayo Ogunbanjo.
Hot NewsBusiness

Aradel refinery chief Temitayo Ogunbanjo sells $3.3 million stake as shares slide 37%

Temitayo Ogunbanjo has sold Aradel shares worth N4.53 billion ($3.3 million) amid recent stock market pressure.

Omokolade Ajayi Omokolade Ajayi
Mauritius-based insurance group MUA Limited
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MUA posts higher first-quarter profit as Mauritius offsets Kenya, Uganda weakness

MUA Limited grows Q1 profit to $2.4 million, using local gains to counter challenging retail insurance environments in East Africa.

Omokolade Ajayi Omokolade Ajayi
Professor Deji Olanrewaju
Hot NewsBusiness

Zedvance names former CIBN president Deji Olanrewaju board chairman as lending push gathers pace

Zedvance Finance has named veteran banker Professor Deji Olanrewaju board chairman as the non-bank lender targets a $185 million commercial lending push.

Omokolade Ajayi Omokolade Ajayi
Nigeria’s state-owned oil company, NNPC.
Hot NewsBusiness

Nigeria’s NNPC revenue drops 13% to $3.15 billion despite steady oil output

Nigeria's NNPC revenue fell to $3.15 billion in May as reservoir pressures and export limits squeezed earnings despite steady oil output.

Omokolade Ajayi Omokolade Ajayi
Super Star supermarket brand under SPAR Group, showcasing retail presence and store operations.
Hot NewsBusiness

SPAR highlights retail’s role in tackling South Africa’s youth unemployment

SPAR Group shows how South African retail drives youth employment, skills development, and small business growth.

Omokolade Ajayi Omokolade Ajayi
Vodacom Centre
TechnologyBusinessHot News

South Africa’s Vodacom takes control of Kenya’s Safaricom with stake worth $2.1 billion

South Africa's Vodacom completes the acquisition of a majority stake in Safaricom following a key Kenyan court ruling.

Omokolade Ajayi Omokolade Ajayi
Equity Bank Kenya HQ
Hot NewsBusiness

South African, Nigerian banks rush to Kenya but face fierce pushback from local giants

South African and Nigerian banks face a tough battle as they deploy major capital to break into Kenya’s $2 billion banking sector.

Omokolade Ajayi Omokolade Ajayi
Aliko Dangote, Africa’s richest man and founder of the Dangote Group
Hot NewsBillionairesBusiness

Africa’s richest man Aliko Dangote loses $2.6 billion in less than one month

A broad Nigerian stock market sell-off erases $2.6 billion from Aliko Dangote's fortune in less than a month as cement shares tumble.

Omokolade Ajayi Omokolade Ajayi
WeLight's agent and customer
TechnologyBusinessHot News

Africa’s biggest solar mini-grid operator WeLight lands $31 million IFC-backed deal

IFC acquires a stake in WeLight, providing $31 million to accelerate solar mini-grid expansion across Nigeria and the DRC.

Omokolade Ajayi Omokolade Ajayi
South African banking giant FirstRand.
Hot NewsBusiness

FirstRand says $1 billion UK redress charge to cut annual earnings

FirstRand faces a $1.02 billion UK provision hit, but robust banking growth across South Africa and broader African markets keeps core earnings resilient.

Omokolade Ajayi Omokolade Ajayi
Titus Muya, the founder of Family Bank.
Hot NewsBusiness

Family Bank founder Titus Muya, allies gain $37 million as stock jumps 44% in NSE debut

Family Bank founder Titus Muya and allies gain $36.6 million as the lender’s shares jump 44 percent in their NSE market debut.

Omokolade Ajayi Omokolade Ajayi
Nairobi’s Le’Mac Tower
Hot NewsBusiness

Parts of Nairobi’s $41.5 million Le’Mac Tower set for auction

Part of Nairobi’s Le’ Mac Tower valued at $41.5 million goes to auction after developer enters administration over unpaid debts in Westlands.

Omokolade Ajayi Omokolade Ajayi