Nigerian gambling magnate Kessington Adebutu-backed Wema Bank to raise additional $128 million
The move aims to strengthen its capital base and solidify its position as a leading player in the country’s financial sector.
SeamlessHR secures $9 million series-A extension from Gates Foundation, Helios Venture
The company continues to scale its operations, providing innovative solutions to empower businesses across Africa.
Nigerian gambling magnate Kessington Adebutu loses $3.6 million from Wema Bank shares
This setback follows a challenging year for Adebutu, who saw his Wema Bank stake drop by $2.73 million in 2024.
Egypt's billionaire family-led Elsewedy Electric to power Greece’s first large-scale battery storage project
The project, the first of its kind in Greece, signals a pivotal moment in Elsewedy Electric’s aggressive expansion strategy within the renewable energy sector.
South African billionaire Saltzman family's Dis-Chem stake declines by $26.3 million
This comes after a period of growth in 2024, reflecting the group’s resilience last year.
Airtel Africa joins forces with Bajaj Finance to launch digital financial platform
The collaboration aims to revolutionize last-mile delivery of financial services by leveraging their combined scale and distribution reach.
Sasol, led by South African executive Simon Baloyi, plans to revive and list chemical division
Sasol has been working to optimize the project’s performance, restore investor confidence, and explore strategic options—including an Initial Public Offering (IPO).
MTN Nigeria, led by Karl Toriola, secures $27.1 million through commercial paper issuance
The issuance is part of the company’s N250-billion ($160.56 million) commercial paper program.
Glencore, led by South Africa's Gary Nagle, explores merger talks with Rio Tinto
Glencore and Rio Tinto are in advanced talks for a merger that could reshape the global mining sector, rivaling industry leader BHP Group.
Nigeria’s richest banker Jim Ovia gains $8 million from Zenith Bank shares
This follows a tough 2024 marked by Nigeria's currency devaluation and economic challenges that weakened Ovia's investments.
South Africa’s richest man, Johann Rupert’s Richemont, reports $16.7 billion in nine-month sales
Richemont posts $16.7 billion nine-month sales, driven by record-breaking Q3 and resilience despite challenges, with Japan leading 25% regional growth.
Craig Arnold-led Eaton wins $20 million contract for New York semiconductor hub
The 50,000-square-foot cleanroom facility, set for completion by 2026, will enhance capabilities in semiconductor research, development, and commercialization.
Egypt’s Ghabbour family faces $13.6 million loss in GB Corp shares
The Ghabbour family holds a 63.4 percent controlling stake in GB Corp., equivalent to 688,207,000 shares.
El-Sewedy family’s Elsewedy Electric lands $60 million deal for Egypt’s textile transformation
The landmark deal will establish a state-of-the-art private free zone in Industria Sadat, spanning 50,000 square meters.
Africa's first Black billionaire faces pressure to sell South African fresh food unit
South Africa’s Competition Commission has recommended ARC divest from one of the country’s largest fresh produce agencies.
Egyptian tycoon Hani Berzi sees $4.4 million loss in Edita Food shares
The company’s stock suffered a downturn on the Egyptian Exchange (EGX), reflecting the ongoing challenges in Egypt’s snack food market.