Nigerian logistics tycoon Taiwo Afolabi’s new $118.4-million hotel experiences power hiccup
The Lagos Marriott recently suffered from a power outage lasting nine hours.
African billionaire
Leading Nigerian tech innovator Odunayo Eweniyi’s PiggyVest acquires Savi.ng
Savi.ng is a wealth management app founded in 2018.
Ade Adeyemi-led Ecobank Group posts $154 million in profits for H1 2021
This is a 20-percent improvement from the $128.88 million posted as profits in the first half of 2020.
Shares of Haresh Soni-led Nairobi Business Ventures see all-time high after Delta takeover
The company has staged the largest-ever short-term rally on the Nairobi Stock Exchange.
Egyptian billionaire Naguib Sawiris unveils new mining fund, La Mancha Fund SCSp
The fund will be dedicated primarily to gold mining.
Leading Nigerian angel investor Olumide Soyombo launches investment company Voltron Capital
Voltron is a pan-African VC firm helping tech startups on the continent access early-stage funding.
Ghanaian serial investor Daniel Ofori earns $2.50 million as Societe Generale Ghana shares rise
The gain came on the back of a nearly 50-percent rise in the shares of the Ghana-based lender.
Ade Ayeyemi-led Ecobank partners with Microsoft, LinkedIn to empower SMEs across Sub-Saharan Africa
The bank will empower SMEs with digital skills to leverage online resources for business growth.
Egyptian tycoon Nassef Sawiris gains $478.7 million on back of positive analyst forecasts for Adidas
Adidas is the largest sportswear and sports equipment manufacturer in Europe.
Aliko Dangote earns $1.6 billion as Dangote Cement shares surge to 39-month high
Shares in the leading cement manufacturer have been on the rise since June 1.
Gideon Muriuki earns $1.10 million in 33 days from two-percent stake in Co-operative Bank of Kenya
The market value of his stake has increased from $14.22 million between June 21 and July 24.
Edward Kirathe’s Acorn Holding Limited to build new hotels with $18.48-million green bond
The company raised the bond from Kenyan pension funds, banks and reinsurance companies.
Ethiopia-born billionaire Mohammed Al-Amoudi loses $1.42 billion in 67 days
The founder of Sweden’s largest oil refiner has seen his net worth fall from $8.76 billion to $7.31 billion.
Stake of Nigerian multimillionaire banker Jim Ovia in Zenith gains $35.14 million in 80 days
The leading tier-1 Nigerian bank, a top-500 bank globally, posted resilient results in Q1 2021.
Kenyan businessman Baloobhai Patel earns $424,600 from stake in Absa Bank Kenya in 84 days
Absa Bank Kenya is a leading bank in Kenya and an operating subsidiary of Absa Group Limited.
Andile Abner Ngcaba’s Convergence Partners raises $250 million for Africa expansion
Convergence Partners focuses on enhancing Sub-Saharan Africa’s technology sector.