Tag: Featured

Reinet NAV decline 2026
BusinessBillionairesHot News

Reinet’s net asset falls to $7.7 billion as Johann Rupert’s firm faces market pressure

Reinet posts $7.73 billion NAV as market volatility drives annual decline despite steady long-term growth and diversified portfolio resilience.

Feyisayo Ajayi Feyisayo Ajayi
Nigerian billionaire businessman Tony Elumelu.
Hot NewsBusiness

Tony Elumelu’s Transcorp posts Q1 profit above $27 million on hospitality gains

Transcorp, led by Tony Elumelu, posts N37.9 billion ($27.6 million) Q1 profit, with hospitality gains offsetting weaker power revenue.

Omokolade Ajayi Omokolade Ajayi
Capitec Gerrie Fourie board return
BusinessHot News

South Africa’s Capitec brings back former CEO Gerrie Fourie to board after cooling-off period

Capitec reappoints former CEO Gerrie Fourie to board after cooling-off period, strengthening governance and continuity amid strong earnings growth.

Feyisayo Ajayi Feyisayo Ajayi
Julius Mwale smart city Kenya
BusinessHot News

Julius Mwale’s $2 billion smart-city bet: Rise, ambition, questions surrounding Kenya’s developer

Julius Mwale advances a $2 billion healthcare-led smart city in Kenya, pitching a scalable model while facing scrutiny over execution and scale.

Feyisayo Ajayi Feyisayo Ajayi
Enko Capital impact fund
BusinessHot News

Alain Nkontchou’s Enko Capital backs Angola solar projects with $100 million

Enko Capital deploys $100M fund into Angola’s 72.4MW Luneta solar project, boosting renewable energy capacity and private credit use.

Feyisayo Ajayi Feyisayo Ajayi
Indian billionaire Sunil Bharti Mittal.
TechnologyBusinessHot News

Indian billionaire Sunil Bharti Mittal’s final corporate move sets up $2B Airtel Money IPO

Airtel Africa, led by Sunil Bharti Mittal, plans Airtel Money IPO that could raise up to $2 billion amid a 2026 leadership transition.

Omokolade Ajayi Omokolade Ajayi
IFC Norfund financing
BusinessHot News

IFC, Norfund back $83.2 million Nigeria energy push to reach 500,000 users

Nearly half a million Nigerian households are set to gain power access as IFC and Norfund commit $83.2 million to expand off-grid solar energy systems nationwide.

Feyisayo Ajayi Feyisayo Ajayi
DR Congo telecom tower expansion
BusinessHot NewsTechnology

IFC plans $59 million telecom tower financing for Eastcastle in DR Congo

IFC considers $59 million for Eastcastle to expand telecom towers in DR Congo, boosting connectivity and digital inclusion.

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

Aliko Dangote becomes first African, first Black billionaire worth over $30 billion

Aliko Dangote becomes first African and first Black billionaire worth over 30 billion dollars, with net worth rising to $30.3 billion according to Forbes.

Omokolade Ajayi Omokolade Ajayi
Hot NewsBusiness

Cygnum Capital’s FEI-OnGrid targets $750 million to expand Africa clean energy investments

FEI-OnGrid targets $750 million fund to scale decentralized renewable energy investments, boosting electricity access across underserved African markets.

Feyisayo Ajayi Feyisayo Ajayi
Aerial view of LUX Grand Baie in Mauritius, a flagship property of LUX Island Resorts under IBL Group’s luxury hospitality and tourism expansion strategy.
LuxuryBusinessHot News

LUX Island Resorts posts $191 million revenue, higher profit in 9M 2026

LUX Island Resorts posts $191 million revenue in 9M 2026, with higher profit, stronger occupancy, and asset base rising to $437 million.

Omokolade Ajayi Omokolade Ajayi
UBA House Marina in Lagos, the headquarters of United Bank for Africa.
Hot NewsBusiness

UBA plans 2026 dividend return as loan recovery efforts gain pace

UBA targets 2026 dividend return as loan recoveries improve after a N331 billion ($241.3 million) provision hit 2025 profit.

Omokolade Ajayi Omokolade Ajayi