Gabriel Ogbechie’s stake in Eterna surpasses $13 million on NGX
Nigerian oil magnate solidifies his position among the country’s richest investors.
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Prosus aims for $400-million e-commerce profit by 2025
CEO Bloisi emphasizes profitability and strategic divestments in core business
Madkour Group secures $24.6-million credit facility from Suez Canal Bank
This funding marks a strategic advancement in the company’s growth plan, underscoring its commitment to expanding operations domestically and internationally.
South African tycoon Terrence Moolman’s Caxton stake surges above $130 million
This surge is driven by the sustained rise in the shares of the leading publisher of books, newspapers, and magazines on the Johannesburg Stock Exchange (JSE).
Grid Africa and Huawei collaborate on 72 MW solar plant for Zimbabwean mines
This collaboration aims to mitigate crippling energy shortages that have caused an estimated $500 million loss in mining revenues due to frequent power outages.
Kenya's top banker gains $3 million in three weeks from Equity Group investment
Over the past 20 days, the market value of his stake has increased by Ksh396.21 million ($3.07 million), fueled by a robust stock performance on the NSE.
Aradel Holdings sees $517-million market cap drop amid investor sell-off
The selloff coincides with Nigeria’s decision to reject Shell’s plan to offload its onshore oil assets to a consortium that includes Aradel, alongside ND Western and Waltersmith.
Nigerian government approves Seplat’s $1.28-billion acquisition of ExxonMobil assets
Seplat Energy receives Nigerian Government approval for $1.28 billion purchase of ExxonMobil onshore assets.
UBA posts $320.9-million profit in 9M 2024
This growth was bolstered by improved fee income and robust foreign exchange earnings, highlighting UBA's adaptability in volatile markets.
South Africa’s Jonathan Jawno makes $4 million from Transaction Capital stake
Although the recent surge boosted investor confidence, Transaction Capital shares remain down 57.28 percent year-to-date.
Jeff Bezos, Rockefeller Foundation team up for solar mini-grids in Nigeria
The effort targets Nigeria's crippling power shortages, aiming to bring electricity to over 86 million individuals – nearly half the country's population – who lack access to this basic necessity.
Raya Foods secures $40-million investment from Helios
This allows Helios to acquire a 49 percent stake in Raya Foods, significantly enhancing the company’s growth trajectory and operational capabilities.
Eterna launches Jet-A1 fuel operations at Lagos airport
This strategic initiative represents a substantial expansion in the company’s aviation fuel services portfolio.
Heineken’s attempt to block $13.1-million payment to Kenyan tycoon Ngugi Kiuna fails
The court emphasized that the case revolved around the legitimacy of the termination notice, not constitutional interpretation.
Karooooo’s half-year revenue rises seven percent to $124.2 million on subscription growth
Total revenue climbed 7 percent to R2.19 billion ($124.2 million) from R2.04 billion ($115.7 million) a year earlier.
Sibanye-Stillwaters halts Australian unit operations in the wake of bushfire
Fortunately, all personnel were accounted for and unharmed as operational teams worked to mitigate the fire's impact on the site and surrounding areas.