Lagos-based Greek tycoon John Coumantaros’ stake in Flour Mills nears $100 million
The rise builds on earlier gains of $11.12 million between June 7 and Aug. 13, when his stake in Flour Mills rose from $62.13 million to $73.24 million.
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Adenia partners enters Egypt, strengthening African presence
This marks the firm’s eight location across the continent and underscores its commitment to responsible investing and sustainable development in Africa.
Nigerian billionaire Femi Otedola's wealth rises $200 million in 12 days despite naira's ongoing decline
This brings his fortune to $1.6 billion, cementing his position as one of Africa’s richest and most influential businessmen.
TMG Holding partners with Huawei to launch Egypt's first AI cloud services
Building on their existing relationship in smart cities and sustainable solutions, TMG and Huawei plan to reshape Egypt’s urban landscape.
Richemont to divest YNAP to Mytheresa for $609.7 million
This strategic move follows Richemont’s efforts to enhance YNAP's profitability in the fiercely competitive online luxury retail market.
Access Holdings receives approval to establish Namibian banking unit
The move is part of Access Bank’s broader strategy to drive economic growth and enhance intra-African trade within the Southern Africa region.
Capitec Bank to ease credit standards amid economic shifts, aiming for expansion and increased demand
Capitec Bank, led by Michiel Le Roux, is set to relax its credit standards to attract more customers and meet rising demand for credit, marking a strategic shift in its approach to lending amid South Africa’s economic challenges.
Capitec Bank transforms into fintech powerhouse, expands with Capitec Connect’s mobile success
Capitec Bank, once a "bank for the unbanked," has evolved into a leading fintech firm, driven by the explosive growth of Capitec Connect, South Africa's fastest-growing mobile operator, and a 36.8-percent surge in half-year profits.
Safaricom seeks 'critical infrastructure' status for fiber network to save 500 million shillings annually
Safaricom is lobbying for its fiber optic network to be designated as critical infrastructure under Kenya’s 2024 bill, aiming to save 500 million shillings annually by reducing damages and service disruptions.
Tony Elumelu’s Heirs Insurance Group sees premiums surge to $19.8 million
Heirs Insurance Group, led by Elumelu, achieved a remarkable 59.3-percent growth in gross written premiums in 2023, highlighting its transformative impact on Nigeria's insurance industry.
Moroccan tycoon Adil Douiri's stake in packaged food company nears $20 million
As Douiri's fortune rises, his strategic vision for Mutandis cements his role as a key player in Morocco's business landscape and a leader in the region's consumer goods sector.
Mauritian Doger de Speville family's Medine posts $25.9-million profit in FY 2024
Medine's performance underscores its ability to navigate economic challenges, with real estate driving its growth during the period under review.
NNPC ends exclusive deal with Dangote’s refinery, opens portal for direct fuel supply
Nigeria’s state-owned oil company ends exclusive agreement with Dangote’s refinery, opens fuel market to competition.
Nigerian entrepreneur Cosmas Maduka's Coscharis unveils $4-billion green energy initiative
The ambitious project signifies a pivotal move toward sustainability in Nigeria’s energy landscape.
Standard Bank, led by South African banker Sim Tshabalala, strengthens African infrastructure investment efforts
This aligns with plans to unlock opportunities for alternative energy infrastructure on the continent, building on past collaborations.
Nigerian billionaire TY Danjuma takes over Kashimbila Hydro Dam concession in major power push
At the handover ceremony, Danjuma emphasized that the concession marked the beginning of a long and challenging journey towards achieving reliable electricity for the state.