Philanthropist and banker Tony Elumelu launches Aura hospitality app on Nigerian market
The launch took place in Abuja on July 8 with national dignitaries in attendance.
Ishioma Emi
Zimbabwean telecom mogul Strive Masiyiwa partners with Facebook to build African fiber bridge
The partnership will improve Internet access for more than 30 million people in Central Africa.
Abdul Samad Rabiu’s BUA Cement declares $170-million dividend payout for shareholders
BUA Cement is Nigeria’s second-largest cement producer and one of Africa’s biggest cement companies.
AfDB teams up with Nigerian banking mogul Subomi Balogun to support women-led businesses
The AfDB is allotting 30 percent of the funds to women-empowered businesses in Nigeria.
DP World acquires Phumzile Langeni’s Imperial Logistics
The move significantly strengthens its presence on the African market.
Sanctioned billionaire Kudakwashe Tagwirei allegedly made $24 million in corrupt deals off Zimbabwe
Over the years, the billionaire has used the wealth of an entire nation to build a vast business empire.
Ugandan mogul Sudhir Ruparelia to redesign former military intel headquarters into business park
The Pearl Business Park is an 18-acre mixed-use facility that will host a five-star hotel, mall and modern hospital.
Global lenders team up with Stephen Saad’s Aspen on $711-million COVID-19 vaccine deal
The consortium hopes to help Africa avoid continued hoarding of COVID-19 vaccines by developed countries.
Rebecca Mbithi plans to expand Family Bank after corporate bond trading on Nairobi bourse
The move comes after the bank raised $39 million against a $27.8-million target in its issued bond.
Laurin Hainy’s fintech startup FairMoney raises $42-million Series-B round
This follows an $11.8-million Series-A round raised in 2019 and a $1.4-million seed fund raised in 2018.
Nigerian billionaire Abdul Samad Rabiu gifts $4.9-million share bonus to employees
Rabiu is donating the shares from his own stake to acknowledge workers who kept BUA Cement profitable in 2020.
Douglas Stevenson-led Cell C seeks bailout from RMB and Investec
Cell C is South Africa’s fourth-largest mobile phone operator.
Rio Tinto CEO Jakob Stausholm pauses South Africa operations due to safety concerns
Last month, an employee at the company’s mine in South Africa was shot dead on his way to work.
Ukrainian tech investor Anton Volyansky’s classifieds marketplace, Jiji, acquires Cars45
The move will grant the company entry into transactional marketplaces.
Vincent Rague steps in as chairman of UAP Old Mutual Group
Rague’s appointment comes after the board announced the retirement of its outgoing chairman, Joseph Barrage Wanjui.
Orascom founder, billionaire patriarch of Egypt’s Sawiris family dies at 91
Onsi Sawiris passed away on June 29 at the age of 91.