Featured
Ahmed Ezz’s stake in Ezz Steel nears $840 million
Ezz Steel’s scale positions it as an industry leader, surpassing competitors like Saudi Arabia’s Hadeed and Emirates Steel.
Editors' Picks
Coty CEO Sue Nabi’s stake falls below $230 million as shares decline
This follows a prior loss of $48.44 million from Sept. 27 to Oct. 17, when her stake declined from $303.06 million to $254.62 million.
BP, Vitol, Trafigura drive sales at Dangote Oil Refinery, redefining Africa’s oil market
British oil giant BP, Swiss-based Vitol, and Singapore’s Trafigura lead sales from the Dangote Oil Refinery as Africa’s largest oil plant reshapes market.
The 10 biggest donations by Femi Otedola: How he is building a legacy of impact
Otedola’s generosity has touched lives nationwide, with substantial donations spanning education, health, security, and economic empowerment.
Exclusive Content For Paid Supporters
Ahmed Ezz’s stake in Ezz Steel nears $840 million
Ezz Steel’s scale positions it as an industry leader, surpassing competitors like Saudi Arabia’s Hadeed and Emirates Steel.
Jim Ovia’s stake in Zenith Bank tops $130 million
Jim Ovia’s wealth soars, solidifying his position as Nigeria’s richest banker
South Africa's Ackerman family sees Pick n Pay stake nears $180 million
This offsets earlier losses of $20.15 million between Oct. 7 and 20, when the family’s stake fell from $206.91 million to $186.75 million.
Hani Berzi’s Edita Foods stake drops $11.6 million
Despite Edita's leading position in Egypt’s packaged snack market, its shares on the EGX have slipped into year-to-date losses.
Hisham Talaat Moustafa seeks tourism reforms, targets 30 million annual visitors for Egypt
Moustafa outlined a vision to attract 30 million annual visitors to Egypt, leveraging the country’s rich cultural heritage and untapped potential.
Orascom Development Egypt posts record sales growth despite economic challenges
Orascom Development Egypt reports a seventy-seven percent surge in real estate sales, reinforcing its resilience and strategic agility.
Palm Hills partners with Saudi firm to boost real estate and education development
Palm Hills Developments joins forces with Dallah Real Estate to create integrated projects, focusing on 15 international schools in Saudi Arabia.
Palm Hills revenue tops $360 million in 9M 2024
Palm Hills Developments reports robust 9M 2024 performance, surpasses revenue expectations.
Alami Lazraq’s ADI stake now worth over $410 million
Over the past 11 days, Lazraq’s stake has gained MAD477.54 million ($47.72 million), boosting the market value of his stake to over $410 million.
Coty posts resilient Q1 2025 results; revenue hits $1.67 billion
The modest increase in revenue came despite a 1 percent foreign exchange impact and the divestiture of the Lacoste license.
TAQA Arabia reports $266-million revenue in first nine months of 2024
TAQA Arabia's revenue surged to $266 million in the nine months of 2024, up from $198.3 million during the same period in 2023.
Elon Musk’s Starlink halts orders in Nigeria until price hike is approved
Starlink halts new residential kit orders in Nigeria, citing regulatory hurdles over its proposed price adjustments.
Flour Mills gains shareholder approval for buyout deal
The move follows a resolution approved by the Federal High Court, clearing the path for the company’s long-discussed acquisition strategy, which was first unveiled on Sept. 24.
Family feud over $435-million dividend pits Nigerian oil magnate against his daughters
Indimi’s daughters have taken legal action against their father and his oil company, alleging they were unjustly denied their rightful share of a $435.1 million dividend.
Jim Ovia’s stake in Zenith Bank tops $130 million
Jim Ovia’s wealth soars, solidifying his position as Nigeria’s richest banker
Dangote Cement to issue new bond series under $180.5 million program
The move aims to bolster the company’s financial strength and improve operational efficiency.
InfraCredit secures $30 million to fund renewable energy projects in Nigeria
The funding will enable InfraCredit to expand renewable energy infrastructure, strengthening energy access in underserved communities.
IBL Group to offload stake in Mauritian bank to Access Holdings’ UK subsidiary
Mauritian conglomerate led by Arnaud Lagesse seeks to unlock value from early investment in regional bank.
John Coumantaros’ stake in Flour Mills tops $100 million
This follows a $31.57-million increase in his stake earlier this year, between Sept. 5 and Oct. 9, when his holdings increased from $68.11 million to $99.68 million.
Simbisa Brands boosts Kenyan workforce with 402 new jobs
Fast-food operator opens 15 new outlets; shifts focus to chicken and pizza
James Mwangi’s Equity Group stake nears $50 million
James Mwangi, Kenya's richest banker, solidifies his position with a 12.64% increase in Equity Group shares, boosting his net worth to nearly $50 million.
Amsons gains regulatory approval for Bamburi Cement deal
The COMESA Competition Commission confirms the deal will not harm regional competition or result in market dominance, supporting trade integration.
Co-op Bank profit rises to $148 million amid expansion drive
Co-op Bank reports 4.4-percent profit growth despite rising costs from expansion and staff investment.
Equity Group partners with DEG to launch German desk in East Africa
The initiative will focus on enhancing support for small and medium-sized enterprises (SMEs) in both regions.
IBL Group to offload stake in Mauritian bank to Access Holdings’ UK subsidiary
Mauritian conglomerate led by Arnaud Lagesse seeks to unlock value from early investment in regional bank.
Safaricom suspends advertising on Nation Media Group platforms amid critical coverage
Kenya's largest telecom halts ads on major publications following critical reports on data privacy practices.
Equity Group's nine-month profit rises 13 percent to $317 million
Regional subsidiaries contributed 49.78 percent of the earnings, reflecting the group's successful regional diversification strategy.
Glencore pilots innovative copper leaching process in Chile
The initiative aims to boost copper output from lower-grade ore in response to rising global demand for the metal, which is vital for renewable energy technologies.
FirstRand stock slide erases millions from Johan Burger’s portfolio
South African businessman Johan Burger sees $3.03 million dip in FirstRand stake
MTN to boost internet connectivity in remote areas using satellite technology
The move is part of MTN’s broader strategy to enhance its existing network with satellite technology.
Sanlam completes $66.4 million acquisition of MultiChoice insurance unit
The move, positions Sanlam to leverage MultiChoice’s broad subscriber base and payment systems to expand its financial services offerings across Africa.
Nedbank commits $662 million to expand across Africa
South African financial giant, Nedbank, targets fourfold profit growth from African markets by 2029.
Sanlam’s net inflows surge to $2.2 billion despite two-pot retirement withdrawals
Resilient performance showcases double-digit growth across key metrics and strong global expansion.
Capitec partners with Cisco to transform banking for 23 million clients
Capitec Bank collaborates with Cisco to enhance digital infrastructure and improve customer experience.
Barloworld in talks to sell African Caterpillar business to Zahid Group-led consortium
The potential deal could reshape Africa's heavy equipment market.
Mohammed Al-Amoudi’s wealth falls $1-billion amid asset revaluation, legal disputes
Ethiopia’s wealthiest man, Mohammed Al-Amoudi, lost over $1 billion in recent months, with his net worth dropping to $8.76 billion.
Safaricom reaches 52 million subscribers in Ethiopia
The telecom giant reported this milestone with its half-year results, marking rapid growth in one of Africa’s biggest telecom markets.
Safaricom reports mixed results for H1 2025, faces challenges in Ethiopia, Kenya
East Africa's telecom giant, Safaricom, sees revenue growth but faces profitability hurdles.
Safaricom expands M-PESA platform to Ethiopia, boosting regional financial inclusion
The move aims to strengthen regional financial inclusion and boost economic activity across borders.
Somali tycoon Ismail Ahmed’s Zepz raises $267 million to expand in Africa
The venture capital firm Accel, along with Leapfrog and TCV, led the latest funding round for Zepz.
Ethiopia’s richest man Mohammed Al-Amoudi’s fortune rises $190 million in 19 days
Al-Amoudi’s net worth has jumped from $9.12 billion on April 26 to $9.31 billion as of this report. This translates to an average daily gain of $10 million since April 26.
Ethiopia’s richest man Mohammed Al-Amoudi loses $260 million in two weeks
This follows a $320-million gain in Al-Amoudi’s net worth between March 28 and April 12.
Ethiopia’s richest man Mohammed Al-Amoudi’s Preem posts $12.6-billion revenue in 2023
Al-Amoudi derives a significant portion of his wealth from his stake in Preem, which surged from $3.74 billion on Jan. 1 to $3.88 billion recently.
Latest Posts
Glencore pilots innovative copper leaching process in Chile
The initiative aims to boost copper output from lower-grade ore in response to rising global demand for the metal, which is vital for renewable energy technologies.
Elon Musk’s Starlink halts orders in Nigeria until price hike is approved
Starlink halts new residential kit orders in Nigeria, citing regulatory hurdles over its proposed price adjustments.
Flour Mills gains shareholder approval for buyout deal
The move follows a resolution approved by the Federal High Court, clearing the path for the company’s long-discussed acquisition strategy, which was first unveiled on Sept. 24.
Ahmed Ezz’s stake in Ezz Steel nears $840 million
Ezz Steel’s scale positions it as an industry leader, surpassing competitors like Saudi Arabia’s Hadeed and Emirates Steel.
Lowe’s reports decline in sales amid economic uncertainty
Total sales totaled $65.12 billion, marking a 3.92% decline, though strong online and pro sales offer optimism amid ongoing challenges.
Hani Berzi’s Edita Foods stake drops $11.6 million
Despite Edita's leading position in Egypt’s packaged snack market, its shares on the EGX have slipped into year-to-date losses.
Family feud over $435-million dividend pits Nigerian oil magnate against his daughters
Indimi’s daughters have taken legal action against their father and his oil company, alleging they were unjustly denied their rightful share of a $435.1 million dividend.
Hisham Talaat Moustafa seeks tourism reforms, targets 30 million annual visitors for Egypt
Moustafa outlined a vision to attract 30 million annual visitors to Egypt, leveraging the country’s rich cultural heritage and untapped potential.
FirstRand stock slide erases millions from Johan Burger’s portfolio
South African businessman Johan Burger sees $3.03 million dip in FirstRand stake
Simbisa Brands boosts Kenyan workforce with 402 new jobs
Fast-food operator opens 15 new outlets; shifts focus to chicken and pizza
Jim Ovia’s stake in Zenith Bank tops $130 million
Jim Ovia’s wealth soars, solidifying his position as Nigeria’s richest banker
MTN to boost internet connectivity in remote areas using satellite technology
The move is part of MTN’s broader strategy to enhance its existing network with satellite technology.
LeBron James and Stephen Curry explore WNBA ownership as league popularity soars
NBA stars express interest in WNBA franchises, reflecting the league's rising value and the growing appeal of women's sports.
Orascom Development Egypt posts record sales growth despite economic challenges
Orascom Development Egypt reports a seventy-seven percent surge in real estate sales, reinforcing its resilience and strategic agility.
Brait SE targets UK listing for Virgin Active by 2026 amid portfolio streamlining
Brait SE plans Virgin Active UK stock listing to align with its debt reduction and portfolio optimization strategy.
Jospong Group secures $400-million Afreximbank funding for waste management and rice production across Africa
Jospong Group partners with Afreximbank to drive waste management reforms in Nigeria and expand rice production in Ghana.
