Tag: Business

Tanzanian billionaire Mohammed Dewji pledges $250 million in Mozambique to expand MeTL Group’s footprint and create 20,000 local jobs.
BillionairesBusinessHot News

East Africa’s richest man Mohammed Dewji to invest $250 million in Mozambique, create 20,000 jobs

Tanzanian billionaire Mohammed Dewji pledges $250 million in Mozambique to expand MeTL Group’s footprint and create 20,000 local jobs.

Omokolade Ajayi Omokolade Ajayi
Engr. Mohammed Sani Jaoji
BusinessHot News

Geregu Power pays $4.45 million to clear bond default as acting CEO Mohammed Sani Jaoji steps in

Geregu Power pays $4.45 million to clear its bond default as acting CEO Mohammed Sani Jaoji steps in to stabilize operations and finances.

Omokolade Ajayi Omokolade Ajayi
Harel Mallac & Co. Limited, a Mauritius-based diversified conglomerate.
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Mauritius-based Harel Mallac returns to profit as first-half revenue hits $36 million

Harel Mallac returned to profit in H1 2026 as revenue rose 12.2% to MUR1.68 billion, despite continued losses in chemicals.

Omokolade Ajayi Omokolade Ajayi
Nigerian businessman and GTBank co-founder, Fola Adeola.
BusinessHot News

GTBank co-founder Fola Adeola gains $44 million as oil stake hits $271 million

Fola Adeola’s Aradel stake rebounds to $271.4 million as shares rise 19.7 percent after a sharp June-to-July selloff.

Omokolade Ajayi Omokolade Ajayi
kenya Airways
Hot NewsBusiness

Kenya rushes to sell stake in troubled national airline by year-end

Kenya is accelerating plans to sell a strategic stake in Kenya Airways by December 2026 to inject fresh capital and end persistent state cash bailouts.

Omokolade Ajayi Omokolade Ajayi
South African executive Abigail Mukhuba
BusinessHot News

South African executive Abigail Mukhuba earns $1.6 million from Sanlam in 2025

Sanlam finance director Abigail Mukhuba earned $1.6 million in 2025, with total remuneration rising 17% from the previous year.

Omokolade Ajayi Omokolade Ajayi
Capitec Bank HQ
BusinessHot News

Capitec overtakes FirstRand as Africa’s most valuable bank at $34.5 billion

Capitec overtakes FirstRand as Africa’s most valuable bank, reaching a $34.5 billion market capitalization after stronger earnings and share gains.

Omokolade Ajayi Omokolade Ajayi
Ernest Azudialu-Obiejesi
Hot NewsBillionairesBusiness

Nigeria’s EFCC recovers $60 million from Ernest Azudialu-Obiejesi’s Nestoil

Nigeria’s EFCC has recovered $60 million from Ernest Azudialu-Obiejesi’s Nestoil to settle a portion of its multibillion-dollar debt with commercial banks.

Omokolade Ajayi Omokolade Ajayi
South African food producer RCL Foods
BusinessHot News

Johann Rupert-backed poultry firm, RCL Foods, expects earnings to fall as sugar, pet food weigh

RCL Foods expects earnings to fall up to 35 percent as sugar imports, pet food disruptions and impairments pressure results.

Omokolade Ajayi Omokolade Ajayi
Thungela Resources Limited
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South Africa’s Thungela posts $85.7 million profit as coal prices rise

Thungela reports an 85.7 million dollar profit as higher coal prices and stronger production lift earnings and dividend.

Omokolade Ajayi Omokolade Ajayi
Ex-Airtel Africa CEO Segun Ogunsanya
Hot NewsBusiness

Ex-Airtel Africa CEO Segun Ogunsanya takes Vodacom board seat from Phuthi Mahanyele-Dabengwa

Former Airtel Africa CEO Segun Ogunsanya has been appointed to Vodacom Group’s board, succeeding Phuthi Mahanyele-Dabengwa in a scheduled leadership change.

Omokolade Ajayi Omokolade Ajayi
Impala Platinum Holdings Ltd
BusinessHot News

South Africa’s Implats expects earnings to surge as PGM prices lift revenue

Implats expects earnings to surge as stronger PGM prices lift revenue, cash generation and 6E production for the year ended June 30, 2026.

Omokolade Ajayi Omokolade Ajayi