New Administrative Capital Archives

Fortress Real Estate acquires control of Balfour Mall, plans redevelopment

Fortress Real Estate has acquired control of Johannesburg’s Balfour Mall and plans a major redevelopment targeting 2027 reopening.

Timilehin Adejumobi May 19, 2026

Business Hot News

Ethiopia injects $500 million in FX auction to stabilize currency market

Ethiopia injects $500M into FX auction as dollar shortages deepen, signaling ongoing pressure on the birr and market reforms.

Timilehin Adejumobi May 19, 2026

Aliko Dangote, Africa’s richest man and founder of Dangote Group.

Business Global News Hot News

Africa’s richest man, Aliko Dangote, targets $250 billion valuation on $45 billion expansion plan

Aliko Dangote outlines $45 billion expansion plan aimed at scaling his industrial empire toward $250 billion valuation by 2030.

Omokolade Ajayi May 19, 2026

Business Hot News

Pick n Pay raises $282 million from Boxer stake sale to aid turnaround

Pick n Pay Stores Ltd., the South African grocery chain, has raised $282 million by selling part of its stake in discount retailer Boxer, giving the supermarket group more room to fund its recovery plan after one of the toughest periods in its history. The sale, confirmed on Tuesday, involved about 57.3 million Boxer ordinary shares, equal to roughly 12.5…

Oluwatosin Alao May 19, 2026