Tag: Hot News

Pick n Pay
BusinessHot News

South Africa’s Pick n Pay ends restructuring process as losses narrow

Pick n Pay expects half-year losses to fall by up to 35% as a labour union agreement ends its formal restructuring consultations.

Oluwatosin Alao Oluwatosin Alao
ArcelorMittal South Africa (ArcelorMittal SA)
BusinessCompaniesHot News

IDC launches bold $607 million steel buyout to save factory heartland

South Africa’s IDC launches a $607 million takeover of ArcelorMittal’s local unit, securing critical plants to protect industrial jobs.

Omokolade Ajayi Omokolade Ajayi
BUA Foods launches Bakers Pride Flour
BusinessCompaniesHot News

Abdul Samad Rabiu’s BUA Foods targets commercial bakers with new flour rollout

Abdul Samad Rabiu’s BUA Foods launches Bakers Pride Flour to supply commercial bakers and strengthen its staple food dominance across Nigeria.

Omokolade Ajayi Omokolade Ajayi
Nigerian investor Tope Lawani
BusinessCompaniesHot News

Nigerian investor Tope Lawani’s Helios buys 49% of Mozambican food giant Merec

Helios Investment Partners, co-founded by Tope Lawani, has acquired a 49 percent stake in Mozambican food miller Merec Industries to scale regional processing.

Omokolade Ajayi Omokolade Ajayi
Aliko Dangote, Africa's richest man and Dangote group President
EnergyBusinessHot News

Dangote commits $1.5B to Kenya oil network after KPC stake deal worth $315 million

Aliko Dangote commits $1.5 billion to expand Kenya Pipeline Company's network across East Africa, cementing his regional energy dominance.

Omokolade Ajayi Omokolade Ajayi
Close-up of South African Airways aircraft.
Hot News

South African Airways gets $61 million state safety net as operation pressures surge

South African Airways secures a $61 million state safety net to protect operations against rising fuel costs and mounting financial pressure.

Omokolade Ajayi Omokolade Ajayi
Lagos-based brewer Guinness Nigeria Plc
BusinessCompaniesHot News

Guinness Nigeria rebounds under Tolaram with $30 million nine-month profit

Guinness Nigeria’s nine-month profit climbed 53 percent to $30.54 million under Tolaram, spurring $11.51 million dividend.

Omokolade Ajayi Omokolade Ajayi
South Africa’s Advtech
TechnologyBusinessCompanies

South Africa’s Advtech bets on AI as it acquires 25% stake in MathU

Advtech has acquired a 25% stake in edtech startup MathU, securing exclusive rights to proprietary AI tools across its private school network.

Omokolade Ajayi Omokolade Ajayi
Egyptian billionaire Hisham Talaat Moustafa
BillionairesBusinessHot News

Egyptian billionaire Hisham Talaat Moustafa seals $202B mega-deal to build cities

Hisham Talaat Moustafa’s TMG has secured a historic EGP11 trillion ($202.3 billion) state deal to develop four mixed-use megaprojects across Egypt.

Omokolade Ajayi Omokolade Ajayi
South Africa’s Famous Brands
BusinessCompaniesHot News

South Africa’s Famous Brands, owner of Wimpy, posts $264 million in half-year sales

Famous Brands posted $264.34 million in half-year sales, leaning on strong cash flow and supply chain gains to raise interim dividends.

Omokolade Ajayi Omokolade Ajayi
Nigerian cocoa bean sales surge
BusinessHot News

Nigerian cocoa sales to the US jump to $142 million amid chocolate rush

Direct Nigerian cocoa bean exports to the United States jumped 554 percent to $142 million as American candy makers tackled supply shortages.

Omokolade Ajayi Omokolade Ajayi
Aliko Dangote, Africa’s richest man and founder of Dangote Group.
BillionairesBusinessHot News

Nigerian billionaire Aliko Dangote takes stake worth $315 million in Kenya Pipeline Company

Nigerian billionaire Aliko Dangote buys a 25 percent stake worth over $315 million in Kenya Pipeline Company to expand East African energy assets.

Omokolade Ajayi Omokolade Ajayi