Elon Musk’s Starlink plans South Africa launch despite regulatory hurdles
South African President Cyril Ramaphosa confirmed the discussions, underscoring the potential for deeper collaboration with the U.S. billionaire.
Bamburi Cement, linked to Kenyan tycoon Baloobhai Patel, receives new $193.7-million offer
Savannah Clinker has proposed purchasing all 362.9 million shares of Bamburi at Ksh70 ($0.54) per share.
Egyptian fintech founder Islam Shawky’s Paymob raises $22 million
The latest funding follows a $50-million Series-B round in 2022 led by PayPal Ventures, Kora Capital and Clay Point.
Nigerian banker Ladi Balogun-led FCMB Group completes initial phase of capital raise
This move is aimed at strengthening the bank's financial foundation and supporting its expansion within Africa's financial markets.
Egyptian mogul Abdallah Sallam's Madinet Masr unveils new luxury project in Mostakbal City
Madinet Masr, led by Abdallah Sallam, launches luxury project in Mostakbal City.
NCBA, backed by Kenya’s richest families, invests $5 million in cybersecurity
NCBA Bank invests Ksh644 million ($5 million) in cybersecurity, enhancing firewalls amid rising cyber threats in Kenya.
Egyptian tycoon Hani Berzi’s Edita Foods stake declines by $9.3 million
Hani Berzi’s fortune dips by over $9 million as Edita Foods shares slide.
Standard Bank, led by Group CEO Sim Tshabalala, unveils innovative digital platform for loan management
New digital platform transforms syndicated loan management with automation and real-time data access, enhancing efficiency and reducing errors.
Sanlam, backed by Patrice Motsepe, targets India's wealth management sector
The move is part of a broader strategy to capitalize on growth opportunities in one of the world’s fastest-growing major economies.
Daniel Yu's Wasoko merges with MaxAB to form Africa’s largest informal retail platform
This all-stock deal creates the continent’s largest digital platform for the informal retail market, marking a turning point in the sector's consolidation and cross-border expansion.
Equity Group, led by star Kenyan banker James Mwangi, to raise salaries for female employees
Equity Group, led by Kenyan banker James Mwangi to increase salaries for female employees to narrow the gender pay gap and promote pay equity.
Shoprite, linked to South African billionaire Christo Wiese, to sell furniture unit to Pepkor for $179 million
The sale includes the OK Furniture and House & Home brands, as well as Shoprite's credit loan book, insurance arrangements, inventory, and certain fixed assets.
Gautam Adani launches airport unit in Kenya
The Kenya entry supports India's second-richest man, Gautam Adani's goal of modernizing airport infrastructure in the region.
Sue Nabi’s stake in U.S. beauty giant falls below $300 million
Algerian-born executive Sue Nabi's net worth takes a hit as her stake in the beauty giant plummets below $300 million.
Oprah Winfrey assembles top AI experts for exclusive TV special
The world’s richest Black woman, Oprah Winfrey, dives into AI with new TV special.
Nigeria’s richest man Aliko Dangote set to roll out petrol from landmark refinery
The $20 billion refinery recently completed a critical test run of its 650,000 barrels-per-day capacity, a significant step towards the official market rollout.