Aliko Dangote’s sugar firm raises $28.8 million via commercial paper
Despite challenges, Dangote Sugar aims to leverage the funds raised from the Notes to meet its operational and growth objectives.
Wema Bank backed by Kessington Adebutu secures approval to raise $26.3 million
The Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) have approved the bank’s $26.3 million rights issue.
Sim Tshabalala-led Standard Bank to fund $5-billion East Africa pipeline project
As global scrutiny intensifies over fossil fuel projects, Standard Bank’s decision to support EACOP is set to influence the trajectory of similar ventures across the continent.
UK impact investor sells $27-million stake in bank founded by Kenyan businessman
The recent acquisition of BII’s stake by the local investor enhances I&M Group’s local ownership and strengthens its market understanding and operational agility.
Nigeria’s richest banker Jim Ovia gains $16.8 million from Zenith Bank stake
The uptick comes after a previous decline, during which his stake in Zenith Bank fell by $13.3 million between April 25 and May 2
Namibian tycoon Quinton van Rooyen’s Trustco converts $238-million debt to equity
The financial maneuver follows Trustco’s announcement of a new loan agreement that obviates the necessity for a previously issued cautionary statement.
Egyptian tycoon Safwan Thabet’s Juhayna secures $9.5-million credit facility
This renews a previous working capital financing arrangement signed in November 2023.
South African real estate tycoon Stephen Brookes faces major market losses
This loss compounds the $2 million loss recorded between March 20 and April 3, when his stake dipped from $17.34 million to $15.33 million.
Egyptian billionaire Hisham Talaat Moustafa’s TMG reports $1.3 billion in Q1 sales
The company’s financial health remains robust, maintaining a net cash position of EGP23.9 billion ($501 million).
Egyptian tycoon Hani Berzi takes $15.8-million hit in Edita stake
This setback follows earlier gains made between May 14 and 27, when the value of Berzi’s stake surged by $17.18 million.