Mining mogul Neal Froneman moves to invest $490 million for 50-percent stake of ioneer Limited lithium mine
ioneer’s project in Nevada is the largest known lithium and boron deposit in North America.
Ishioma Emi
Timothy Nuy’s Finclusion secures $20 million in funding for expansion in Sub-Saharan Africa
Finclusion is a Mauritius-based startup that seeks to drive financial inclusion in Africa.
Christo Wiese-linked retailer Steinhoff plans to settle with claimants in Pepkor-related transaction
In 2014, Wiese sold Pepkor to Steinhoff in exchange for about 20 percent of Steinhoff’s issued shares.
Patrice Motsepe’s African Rainbow Capital sets aside $24.7 million for aggressive expansion into fintech space
The investment company has entered negotiations to add a fintech conglomerate to the group.
Ten female executives playing critical roles in Africa’s financial sector
Africa’s financial sector has seen massive growth over the past few years compared to previous decades.
Rights group urges Nigeria to pay businessman Ned Nwoko, others $418 million for debt assistance
The consultants facilitated refunds to Nigeria from the Paris and London clubs.
Egypt’s affluent Khamis family earns $75.3 million as shares in Oriental Weavers surge to 41-month high
Oriental Weavers is one of the largest carpet manufacturers in the world.
Narendra Raval’s Devki Group counts on new plant to cut cement prices in Kenya
Increased productivity will see the company pass on the resultant price benefits to consumers.
Jack Bowles’ British American Tobacco roped into bribery scandal involving Mugabe
BAT has been accused of paying bribes in Southern Africa and using illegal surveillance to sabotage competitors.
Patrice Motsepe’s Sanlam plans strategic acquisitions to strengthen its Africa operations
Sanlam seeks to acquire Alexander Forbes and an additional 22.8-percent stake worth R2 billion in Saham Assurance Maroc.
German state-owned bank fined for Angolan loan linked to Isabel dos Santos’ beer company
KfW-Ipex-Bank is an import-export bank and a subsidiary of Kreditanstalt fur Wiederaufbau.
South African billionaire Quinton van der Burgh launches coffee table book to give back to charity
The book features John Russo’s photographs of celebrities, including Dwayne “The Rock” Johnson.
Egypt awards infrastructure projects worth $220 million to construction tycoon Hassan Allam
Hassan Allam Holdings will construct two stations and four bridges as part of a high-speed train project.
Ernest Ndukwe-led MTN Nigeria renews Nigerian license for next 10 years
The company is Nigeria’s largest telecom operator.
Real estate magnate Samih Sawiris proposes fund to ignite Egypt-Oman relations
Sawiris also proposed to establish an umbrella organization to support businessmen from the two countries.
Egyptian mogul Mohamed Mansour raises $26.5 million in Series-B funding for India edtech startup
Following the latest funding round, the company has a pre-money valuation of $90 million.