Tag: Hot News

Equity Group headquarters in Nairobi, Kenya.
BusinessHot News

East Africa’s largest lender, Equity Group, sees first-half profit top $350 million

Equity Group’s first-half profit rose 32 percent to KSh45.5 billion ($352 million), driven by stronger lending and regional growth.

Omokolade Ajayi Omokolade Ajayi
Harel Mallac & Co. Limited, a Mauritius-based diversified conglomerate.
BusinessHot News

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
Mauritius-based insurance group MUA Limited
BusinessHot News

Mauritius-based MUA posts $7.85 million first-half profit as home market drives growth

MUA Limited’s first-half profit rose 48 percent to $7.85 million as stronger insurance earnings in Mauritius offset losses in parts of East Africa.

Omokolade Ajayi Omokolade Ajayi
MTN Group logo, representing the pan-African telecom operator.
TechnologyBusinessHot News

MTN Rwanda’s half-year profit more than triples to $11.7 million on mobile money, data growth

MTN Rwanda more than tripled first-half profit to $11.7 million as Mobile Money and data revenue increased, while lower finance costs and tighter spending boosted earnings.

Omokolade Ajayi Omokolade Ajayi
Tanzanian billionaire Mohammed Dewji
BillionairesBusinessHot News

Tanzanian billionaire Mohammed Dewji eyes regional growth and industrial expansion

Tanzanian billionaire Mohammed Dewji meets Nedbank Chairman Daniel Mminele to discuss capital access and funding cross-border industrial growth in Africa.

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
Absa Group, South Africa’s third-biggest lender.
BusinessHot News

Absa Group posts higher income as earnings, lending improve in first half of 2026

Absa Group reported higher first-half 2026 income and earnings as lending and deposits grew across its African operations.

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
Dangote Refinery gasoline storage tank with 60 million liters capacity under Dangote Industries Limited operations in Nigeria.
Hot News

Dangote, local refiners eye up to $328 million savings in crude swap plan

Nigerian refiners, including Dangote, eye up to $328.8 million in operational savings under a new domestic crude oil logistics swap mechanism.

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