The power company’s profit soared to $23 million, marking a 233 percent increase from $6.9 million in the same period last year.
African Billionaires
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- East Africa
Absa Bank, linked to Kenyan tycoon Baloobhai Patel, battles KCB over control of Savannah Cement
Absa seeks court orders to remove KCB-Appointed receiver managers.
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Mr Price’s latest report highlights strong sales growth and strategic acquisitions under Blair’s leadership.
- Southern Africa
Sasol, led by South African tycoon Simon Baloyi, sees share price surge on higher coal exports
Operational improvements drive investor confidence despite mixed performance metrics.
- East Africa
Equity Group, led by Kenyan banker James Mwangi, partners with WFP to fund smallholder farmers
Partnership aims to enhance agricultural productivity, provide financial literacy, and promote sustainable farming practices among smallholder farmers in East and Central Africa.
- East Africa
StanChart, led by Kenya banker Kariuki Ngari, secures $9.8 million from green project financing
Bank records outstanding growth in sustainable finance, reflecting Kenya’s increasing focus on green and sustainable economic activities.
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Over the year leading up to March 2024, Patel acquired an additional 92,200 shares in the listed tea firm.
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BSE’s market capitalization has risen to BWP709.5 billion ($52.27 billion), reflecting a 5.1-percent increase year-to-date.
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Balwin Properties plans to build up to 7,300 rental apartments over the next 8-10 years, expanding its market presence.
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Standard Bank commits $1 million to AU Peace Fund over five years to support peace initiatives in Africa.