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From Boom to Bust: Malawi’s richest man loses $270 million in 3 months
FMB Capital’s stock dips 30%, slashing Hitesh Anadkat’s stake by $274 million. Yet, investors stay confident in the regional banking powerhouse.
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From Boom to Bust: Malawi’s richest man loses $270 million in 3 months
FMB Capital’s stock dips 30%, slashing Hitesh Anadkat’s stake by $274 million. Yet, investors stay confident in the regional banking powerhouse.
Egyptian billionaire Yasseen Mansour’s Palm Hills signs deal for real estate project in UAE
Palm Hills expands beyond Egypt with a major Abu Dhabi project near Saadiyat Island, boosting Gulf presence amid record-breaking Q1 2025 sales.
Legal dispute threatens Tanzanian billionaire Rostam Aziz’s Mombasa LPG project
Rostam Aziz’s Mombasa LPG project faces court challenge over alleged environmental harm, coral disruption, and lack of community consultation.
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Legal dispute threatens Tanzanian billionaire Rostam Aziz’s Mombasa LPG project
Rostam Aziz’s Mombasa LPG project faces court challenge over alleged environmental harm, coral disruption, and lack of community consultation.
U.S.-Nigerian telecom executive Sam Darwish’s stake in IHS gains nearly $6 million
The recent rally has driven Sam Darwish’s stake to nearly $50 million.
Ghabbour family, one of Egypt’s wealthiest, gains $21.5 million from GB Corp.
The recent rally in GB Corp.’s shares has pushed the Ghabbour family’s stake to nearly $234 million.
Egyptian billionaire Yasseen Mansour’s Palm Hills signs deal for real estate project in UAE
Palm Hills expands beyond Egypt with a major Abu Dhabi project near Saadiyat Island, boosting Gulf presence amid record-breaking Q1 2025 sales.
Egyptian businessman Ahmed El-Sewedy gains $36 million from company shares
Elsewedy Electric’s shares rise 4.12% in 2025, boosting Ahmed El-Sewedy’s stake amid Egypt’s energy infrastructure and green projects growth.
Egyptian billionaire Hassan Allam signs deal to revive Alexandria Tram Line
The contract, awarded by the National Authority for Tunnels (NAT), marks a pivotal push to modernize urban transport in Egypt’s second-largest city.
Egyptian billionaire Yasseen Mansour makes $4 million from Palm Hills
Over the past 15 days, the company’s stock has risen by 9.64 percent, boosting Mansour’s stake from $43.15 million to $47.31 million.
Ghabbour family, among Egypt’s richest, loses $17 million on GB Corp shares
This recent downturn has erased the gains made between April 9 and May 4, when their holdings surged by $23.48 million during a brief market rally.
Hani Berzi’s Edita Food Industries launches premium frozen bakery line
Edita launches a premium frozen bakery line for Egypt’s food service sector, targeting cafés, hotels, and restaurants with ready-to-bake pastry solutions.
Nassef Sawiris’ OCI targets ammonia project completion amid $1 billion payout
OCI nears completion of Beaumont ammonia plant and plans $1 billion shareholder payout as part of a wider transformation under billionaire Nassef Sawiris.
Moroccan real estate tycoon Alami Lazraq’s stake in ADI drops by $61 million
Shares of Alliances Développement Immobilier tumble nearly 10% as investor confidence wanes in Morocco’s property market.
Sam Darwish’s IHS reports $440 million in Q1 2025 revenue
IHS rebounds with $439.6 million in Q1 2025 revenue, driven by 25.6% organic growth and improved margins despite naira headwinds and prior regional divestments.
Otedola hails Tinubu, Cardoso’s reforms as FirstHoldCo regains profitability
At the 13th Annual General Meeting of FirstHoldCo, Otedola pulled back the curtain on the scale of his vision.
Aliko Dangote's refinery set to start polypropylene exports
The move marks a major milestone for Nigerian industrial exports as the country shifts from import dependence to value-added manufacturing.
Hisham Talaat Moustafa's TMG eyes $4.7 billion sales from mixed-use development in Oman
TMG enters Oman with two smart city projects, targeting $4.7 billion in sales as it scales its proven Egypt-Saudi urban model across the Gulf.
Ghana gives Elon Musk’s Starlink one-month deadline to comply with regulations
The move aligns with Ghana’s broader push to tighten oversight of big tech and ensure equitable participation in its growing digital economy.
Aliko Dangote's refinery receives 146,000 tonnes of global oil supply
The latest delivery, discharged by the vessel Hercules, comes ahead of another 125,000-tonne shipment expected via the Sienna.
Tope Shonubi’s Sahara and NNPC agree to improve energy access across Nigeria
The agreement was reached during a recent meeting between Sahara Group’s leadership team and NNPC’s Group CEO.
Jim Ovia makes over $4.6 million from Zenith Bank stake
Zenith Bank shares climb, lifting market cap above $1 billion, as investor sentiment strengthens.
Sam Darwish’s IHS to sell Rwandan tower assets for $274 million
IHS Holding divests its 1,465 Rwandan towers to Paradigm Tower Ventures for $274.5 million, refocusing on core markets amid global portfolio reshuffle.
Legal dispute threatens Tanzanian billionaire Rostam Aziz’s Mombasa LPG project
Rostam Aziz’s Mombasa LPG project faces court challenge over alleged environmental harm, coral disruption, and lack of community consultation.
Kenyan businessman Julius Mwale cleared as U.S. court dismisses $1.7 million lawsuit
The court upheld a 2023 loan modification and release agreement barring future claims, ending disputes over alleged business loan issues linked to MMTC.
Suresh Bhagwanji Shah’s I&M acquires prime commercial building in Tanzania
The property, now known as I&M House@1046, will serve as the new Tanzanian headquarters for the Nairobi-listed lender and host one of its flagship branches.
Court clears James Mwangi-led bank to sell EAC assets over $17 million loan
Kenya’s court cleared James Mwangi-led Equity Bank to sell EAC assets tied to a $17 million loan, ending a years-long legal battle over the debt.
Kenyan banker Paul Russo-led KCB Group posts $127 million Q1 profit
KCB Group, led by CEO Paul Russo, posted a $127.9 million Q1 profit, driven by regional growth and digital focus despite non-interest income slipping 9.7%.
NCBA, backed by Kenya's richest families, posts $42.3 million Q1 profit
NCBA, backed by Kenya’s elite families, posted a modest 3.41% Q1 profit rise to $42.4 million despite loan book contraction and macroeconomic headwinds.
Mauritian-based firm takes $19 million stake in Suresh Bhagwanji Shah’s I&M Group
Mauritius-based EAGH boosts its I&M Group stake to 15.14% with a $19 million investment, signaling rising confidence in East Africa's banking sector.
From Boom to Bust: Malawi’s richest man loses $270 million in 3 months
FMB Capital’s stock dips 30%, slashing Hitesh Anadkat’s stake by $274 million. Yet, investors stay confident in the regional banking powerhouse.
South African tycoon Stephen Saad's Aspen opens regional headquarters in Saudi Arabia
Aspen’s investment comes amid a broader push to localize manufacturing, enhance drug supply chains, and develop regional talent.
Barloworld, led by Dominic Sewela, extends probe into Russian operations
Barloworld prolongs Russia probe through Sept. 2025 amid sanctions pressure, falling revenue, and possible delisting via Zahid Group-backed buyout.
Neal Froneman-led Sibanye rescues 260 workers trapped in South Africa mine
The miners were stranded Thursday after a skip door on a rock winder opened unexpectedly at Level 39, disrupting access to lower levels.
Pick n Pay, backed by Ackerman family, posts $6.8 billion revenue in 2025
Pick n Pay, partly owned by the Ackerman family, posted $6.8 billion revenue in 2025 as Boxer growth and recapitalization drove a sharp cut in losses.
South African executive Simon Baloyi-led Sasol wins $241 million Transnet payout
The payment resolves all pending litigation between the two state-backed firms, according to a Sens announcement issued after the market closed on Friday.
South African media mogul Terrence Moolman loses $7 million from Caxton shares
South Africa's media landscape shifts as Caxton & CTP Publishers stock dips, impacting CEO Terrence Moolman’s fortune.
South African billionaire Patrice Motsepe’s fortune jumps to $3.2 billion
According to Forbes estimates, his net worth rose from $3 billion in mid-March to $3.2 billion by late May.
Preem, formerly owned by Mohammed Al-Amoudi, posts $3.29 billion in Q1 sales
Preem's Q1 2025 sales dropped 8.3% to $3.29 billion, with weaker margins and downtime impacting profits.
Samuel Tafesse: Ethiopian developer behind Africa’s first Marriott hotel
From fixing roofs in Addis Ababa to developing sub-Saharan Africa’s first Marriott hotel, Tafesse has become one of Ethiopia’s top businessmen.
VARO Energy to acquire Preem from Ethiopian billionaire Mohammed Al-Amoudi
This acquisition signals the end of Ethiopian billionaire Mohammed Al-Amoudi’s long-standing role in Sweden’s energy sector.
Belayneh Kindie ventures into Ethiopia’s electric mobility space with 100 e-buses
Ethiopian businessman Belayneh Kindie launches 100 locally assembled electric buses in Addis Ababa, advancing Ethiopia’s clean transit and electric mobility goals.
Ethiopia’s richest man Mohammed Al-Amoudi sees Preem stake soar to $4.7 billion
Preem’s newly published 2024 annual report provided fresh insights into its valuation, driving up the value of Mohammed Al-Amoudi’s stake.
Ethiopian billionaire Mohammed Al-Amoudi’s Preem posts $12.8 billion in 2024 revenue
The company reported lower revenue and profit for the second straight year, reflecting weaker refining margins and a challenging market environment.
Ethiopia’s 10 richest businessmen
These business leaders are not just accumulating wealth; they are pivotal players in Ethiopia’s transformation.
Ethiopia's richest man adds $552 million to his net worth in 2025 after last year's loss
His net worth now stands at $9.4 billion, reinforcing his status among the world’s wealthiest individuals.
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From Boom to Bust: Malawi’s richest man loses $270 million in 3 months
FMB Capital’s stock dips 30%, slashing Hitesh Anadkat’s stake by $274 million. Yet, investors stay confident in the regional banking powerhouse.
Sam Darwish’s IHS to sell Rwandan tower assets for $274 million
IHS Holding divests its 1,465 Rwandan towers to Paradigm Tower Ventures for $274.5 million, refocusing on core markets amid global portfolio reshuffle.
Egyptian billionaire Yasseen Mansour’s Palm Hills signs deal for real estate project in UAE
Palm Hills expands beyond Egypt with a major Abu Dhabi project near Saadiyat Island, boosting Gulf presence amid record-breaking Q1 2025 sales.
South African tycoon Stephen Saad's Aspen opens regional headquarters in Saudi Arabia
Aspen’s investment comes amid a broader push to localize manufacturing, enhance drug supply chains, and develop regional talent.
Legal dispute threatens Tanzanian billionaire Rostam Aziz’s Mombasa LPG project
Rostam Aziz’s Mombasa LPG project faces court challenge over alleged environmental harm, coral disruption, and lack of community consultation.
Egyptian businessman Ahmed El-Sewedy gains $36 million from company shares
Elsewedy Electric’s shares rise 4.12% in 2025, boosting Ahmed El-Sewedy’s stake amid Egypt’s energy infrastructure and green projects growth.
Barloworld, led by Dominic Sewela, extends probe into Russian operations
Barloworld prolongs Russia probe through Sept. 2025 amid sanctions pressure, falling revenue, and possible delisting via Zahid Group-backed buyout.
Moroccan billionaire Anas Sefrioui’s stake in Addoha falls below $1 billion
Sefrioui, founder and majority shareholder of Addoha, holds a 64.78 percent stake—equivalent to 260.8 million shares in the Casablanca-based real estate group.
Neal Froneman-led Sibanye rescues 260 workers trapped in South Africa mine
The miners were stranded Thursday after a skip door on a rock winder opened unexpectedly at Level 39, disrupting access to lower levels.
Pick n Pay, backed by Ackerman family, posts $6.8 billion revenue in 2025
Pick n Pay, partly owned by the Ackerman family, posted $6.8 billion revenue in 2025 as Boxer growth and recapitalization drove a sharp cut in losses.
Summer 2025 Football Fever: Premier League & Copa America Betting on Pin-Up
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Egyptian billionaire Hassan Allam signs deal to revive Alexandria Tram Line
The contract, awarded by the National Authority for Tunnels (NAT), marks a pivotal push to modernize urban transport in Egypt’s second-largest city.
Kenyan businessman Julius Mwale cleared as U.S. court dismisses $1.7 million lawsuit
The court upheld a 2023 loan modification and release agreement barring future claims, ending disputes over alleged business loan issues linked to MMTC.
Egyptian billionaire Yasseen Mansour makes $4 million from Palm Hills
Over the past 15 days, the company’s stock has risen by 9.64 percent, boosting Mansour’s stake from $43.15 million to $47.31 million.
Suresh Bhagwanji Shah’s I&M acquires prime commercial building in Tanzania
The property, now known as I&M House@1046, will serve as the new Tanzanian headquarters for the Nairobi-listed lender and host one of its flagship branches.
South African executive Simon Baloyi-led Sasol wins $241 million Transnet payout
The payment resolves all pending litigation between the two state-backed firms, according to a Sens announcement issued after the market closed on Friday.
