Led by Kenyan exec Priscilla Gathungu, Java expands with two outlets in Nairobi
Under the leadership of CEO Priscilla Gathungu, appointed in November 2022, the company has pursued an aggressive expansion strategy.
East Africa
Kenyan tycoon Baloobhai Patel’s Bamburi Cement expects $2.57 million in savings with solar plants
Patel, a Kenyan multimillionaire and owner of a 4.12-percent stake in Bamburi Cement through his private investment company, Aksaya Investment.
Aga Khan IV gains $1.7 million from stake in Nairobi-based insurer
Through the Aga Khan Fund for Economic Development, Aga Khan IV owns 37.98 percent of Jubilee Holdings and 11.85 percent of its Mauritian subsidiary.
Kenya’s wealthy Merali family loses $1.9 million from investment in Sasini Tea
The Merali family, holding a majority 65.46-percent stake in the agribusiness firm valued at more than $23 million, ranks as Sasini’s largest shareholder.
Tanzanian billionaire Rostam Aziz to pocket millions from sale of container terminal
Aziz, 59, was the first Tanzanian to boast of a billion-dollar fortune according to Forbes.
India’s richest man Gautam Adani ventures into Tanzania with Ticts acquisition
The UAE-incorporated East Africa Gateway was established to spearhead Adani Group’s interests in East Africa and the broader African continent.
Kenyan businessman John Kimani becomes Centum’s third-largest shareholder
His move comes as shares remain attractively priced on the Nairobi Securities Exchange.
Africa’s youngest billionaire backs Indian startup in $1.1-million funding round
Dewji’s commitment to high-growth regions revealed: From $100-million Rwandan ventures to Swirl’s seed funding.
Kenyan tycoon John Kimani among directors accused of $2 million in irregular payments
The Capital Markets Authority (CMA) has summoned top executives, including Kimani and Kakuzi Managing Director Christopher Flower.
Family feud erupts over Naivas shares as heirs of Kenyan business titan seek control
Newton Kagira Mukuha, in his application, argued that certain assets within the estate have not been properly distributed, expressing worries over lack of representation.
Kenyan banker James Mwangi gains $3 million from Equity Group stake
Mwangi’s stake in Equity Group has hit the $30-million milestone.
Kenyan tycoon Narendra Raval takes over Rwandan cement giant in $84-million deal
Devki Group Founder and Chairman Narendra Raval announced the completion of the acquisition, expressing enthusiasm about the prospects it holds for both countries.
Kenyan tycoon John Kimani acquires 8.64 million shares in East Africa’s largest telecom firm
The businessman’s increased stake further solidifies his position as one of the leading investors on the Nairobi Securities Exchange.
Ugandan businessman Patrick Bitature faces prosecution over $26-million fraud
If found guilty, the 60-year-old Ugandan businessman and his 56-year-old wife could face severe legal consequences.
Africa’s youngest billionaire Mohammed Dewji makes $300 million in just 25 days
This rapid increase in Dewji’s wealth is attributed to the revaluation of his stake in MeTL Group, a conglomerate with an extensive portfolio spanning over 150 products.
Kenyan tycoon Peter Njonjo’s Twiga Foods settles debt dispute with Google Cloud reseller
The conflict between the two companies began in September 2023 when Google Cloud Services provider Incentro Africa filed a lawsuit against Twiga Foods.