Glo Mobile loses 43 million subscribers as Nigeria’s telecom market faces a 69-percent subscriber drop
Regulatory actions and stricter SIM identification requirements reshape Nigeria's telecom landscape.
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Vodacom faces regulatory setback in $790-million Maziv acquisition
Vodacom's Maziv deal blocked by Competition Tribunal. Regulatory hurdles stifle expansion plans.
Yasseen Mansour’s stake in Palm Hills tops $35 million
Mansour, who serves as chairman of Palm Hills Developments, holds a 10.83 percent stake in the company, representing 318,574,726 shares.
Moniepoint secures $110 million in Series-C round backed by Google
This funding will elevate the company’s digital payment and banking capabilities, reinforcing its commitment to revolutionizing financial services across Africa.
Jim Ovia gains $7.1 million from Zenith Bank stake
Ovia, the founder and chairman of Zenith Bank, holds a controlling stake of 16.2 percent — equivalent to 5,082,800,739 shares.
Femi Otedola leads FBN Holdings to $371.9 million profit in 9M 2024
FBN Holdings posts robust financial results as profit surges 125 percent under Femi Otedola’s leadership.
Pick 'n Pay announces exit from Nigeria amid financial losses
South African retailer offloads stake amid challenging market conditions.
United Bank of Egypt to list 30-percent stake on EGX in Q4, advancing financial inclusion and private sector investment
The United Bank of Egypt plans to float a 30-percent stake on the Egyptian Exchange by year’s end, marking a key moment in Egypt’s economic reforms.
Bravura to build Germany’s first lithium processing plant for EV supply chain
African mining company Bravura plans a lithium hydroxide facility in Germany to supply automakers, reducing reliance on China.
BUA Cement Q3 revenue rises 91 percent amid higher costs, nine-month profit dips
Nigeria’s BUA Cement posted strong Q3 sales growth, but rising input costs trimmed nine-month profits.
Alami Lazraq’s ADI stake surges by $54.4 million
Lazraq, who controls 51.7 percent of ADI, owns 11.4 million shares, making him the largest shareholder in the company.
Transcorp's revenue surpasses $180 million in the first nine months of 2024
Tony Elumelu, chairman of Transcorp Group.
Hani Berzi’s stake in Egypt’s packaged food company surges above $190 million
Over the past 15 days, Berzi's stake has surged by EGP823.77 million ($16.92 million), increasing the market value of his holdings above $190 million.
Harmony Gold records $3.47 billion in revenue at close of fiscal year 2024
The Johannesburg-based miner attributed this growth to increased gold sales and a favorable pricing environment.
NCBA Bank Kenya cuts fees on business accounts to boost SME cash flow amidst rising loan rates
NCBA Bank Kenya launches a “No Monthly Fees” initiative for business accounts, easing financial pressure on SMEs as loan rates rise.
Nigerian tycoon Tony Elumelu to co-chair New Africa Summit at Saudi Arabia’s Future Investment Initiative
Tony Elumelu, chairman of UBA and founder of the Tony Elumelu Foundation, will co-chair the New Africa Summit at the 8th Future Investment Initiative in Riyadh, advocating for Africa’s economic role on the global stage.