Tag: Featured

Nigerian billionaire Abdul Samad Rabiu
BusinessHot News

Nigerian billionaire Abdul Samad Rabiu to pocket $237 million dividend from BUA Cement

Nigerian billionaire Abdul Samad Rabiu to receive $237 million from BUA Cement after a 379% profit surge in 2025.

Omokolade Ajayi Omokolade Ajayi
Oriental Weavers 2025 profit
BusinessHot News

Egypt’s Oriental Weavers posts $45 million in profits in 2025

Oriental Weavers posts $45 million profit in 2025 as revenue rises 10% despite margin pressures.

Feyisayo Ajayi Feyisayo Ajayi
Prudential ICEA Lion stake sale
BusinessHot News

Prudential sells 24.1% ICEA portfolio acquired from Ndegwa family in 2021

Prudential will exit ICEA Lion, selling its 24.1% stake acquired in a $18.6 million Ndegwa family deal, pending approvals.

Feyisayo Ajayi Feyisayo Ajayi
MTN Group logo, representing the pan-African telecom operator.
BusinessHot News

MTN Group forecasts massive rebound after MTN Nigeria posts $820 million profit

MTN Group expects earnings rebound as MTN Nigeria reports $820 million profit and free cash flow jumps 215 percent.

Omokolade Ajayi Omokolade Ajayi
Breadfast $50 million funding
BusinessHot News

Saudi billionaire-backed Breadfast targets Egypt grocery dominance

Breadfast secures $50 million from Mubadala and a Saudi billionaire family to accelerate Egypt e-commerce expansion.

Feyisayo Ajayi Feyisayo Ajayi
Aliko Dangote, Africa’s richest man
BusinessHot News

Aliko Dangote’s cement business hauls in $3.2 billion revenue in 2025

Dangote Cement posts $3.16 billion revenue in 2025, with record profit $745.5 million, driven by Nigeria, efficiency, and Pan-African growth

Feyisayo Ajayi Feyisayo Ajayi
Hot NewsTechnology

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 Omokolade Ajayi
MTN Nigeria tax bill 2025
BusinessHot News

MTN Nigeria pays $429.7 million to Nigeria’s federal government as tax in 2025

MTN Nigeria posts $429.7 million tax bill in 2025 as new tax law drives higher levies despite profit rebound.

Feyisayo Ajayi Feyisayo Ajayi
Africa luxury spas
Hot NewsLuxury

10 star-studded spas in Africa redefining luxury wellness

Africa’s star-studded spas blend indigenous rituals, sustainability and ultra-luxury to reshape the global wellness economy.

Feyisayo Ajayi Feyisayo Ajayi
Champion Breweries Bullet acquisition
BusinessHot News

How a low-profile Nigerian brewer is quietly building a cross-border African beverage empire

Champion Breweries acquires Bullet portfolio for $29.4 million, expanding into 14 African markets and high-growth Ready-to-drink categories.

Feyisayo Ajayi Feyisayo Ajayi
IFC backs Morocco microloans
BusinessHot News

Morocco’s Fondation Arrawaj gets $15 million IFC microloan

IFC proposes $15 million loan to Morocco’s Arrawaj, boosting microenterprise lending and financial inclusion for MSMEs and women-owned businesses.

Feyisayo Ajayi Feyisayo Ajayi
B Investments Brown Nose Coffee acquisition
BusinessHot News

Egypt’s B Investments moves to acquire controlling stake in Brown Nose Coffee

B Investments plans phased deal to secure majority stake in Brown Nose Coffee, deepening exposure to Egypt’s fast-growing consumer sector.

Feyisayo Ajayi Feyisayo Ajayi