Aga Khan IV-backed Jubilee completes sale of majority stake in Mauritian insurance subsidiary to Allianz
Aga Khan IV, Shah Karim al-Husayni, owns 37.98 percent of Jubilee Holdings and 11.85 percent of its Mauritian subsidiary.
East Africa
Kenyan court freezes Ronald Karauri’s SportPesa license amid ownership tussle
The SportPesa brand was relaunched by Milestone Games.
French financier Proparco acquires shares in Mauritian magnate Dominique Galea-led insurer, MUA Ltd.
Proparco will become the regional insurance group’s largest investor.
Tanzanian billionaire Rostam Aziz acquires majority stake in Dar es Salaam-based aviation firm
Aziz’s arrival could increase competition in the industry.
Mauritian businessman Pierre Guy Noel gains over $1 million in seven weeks
Noel owns 0.55 percent of Mauritius’ largest banking group, MCB Group Limited.
Wealthy Kenyatta family gains $16.5 million as NCBA shares soar on NSE
The Kenyatta family owns a 13.2-percent stake in NCBA Group.
Multimillionaire Rajabali brothers gain $3.4 million from stake in Tanzania’s largest bank
The Rajabali brothers own a 2.6-percent stake in CRDB Bank Plc.
Led by Kenyan banker James Mwangi, Equity Group set to acquire Spire Bank
The acquisition could present additional challenges and opportunities to Equity Group.
Kenyan banking exec Jeremy Awori to take over from Ade Ayeyemi as CEO of Ecobank
Absa Bank Kenya reported triple-digit earnings growth in the 2021 fiscal year.
Kenyan investment banker David Owino’s Ascent Capital secures $128 million to invest in small businesses
Owino founded Ascent in 2012.
Senior banking executive Jeremy Awori steps down after decade as CEO of Absa Bank Kenya
His resignation will take effect on Oct. 31.
Led by Kenya’s richest families, NCBA partners with Huawei to roll out digital banking products
NCBA Group is a Nairobi-based financial services conglomerate.
East African Court of Justice orders Rwanda to pay tobacco tycoon Tribert Rujugiro $1 million
The court ruled that Rwanda violated a regional treaty when it took over and sold Rujugiro’s shopping mall.
Kenyan multimillionaire Mukuha family receives $31.5 million from Naivas stake sale
The Mukuha family retains a majority 60-percent stake in Naivas.
Kenyan Ndegwa family acquires additional $2.46-million stake in Nairobi-based lender, NCBA
The Ndegwa family’s 13.13-percent stake in NCBA Group is worth $54 million.
Kenyan businessman John Kimani acquires additional $1.7-million stake in Centum
Aside from his ownership interest in Centum, Kimani controls 32.3 percent of Kakuzi and 2.99 percent of Nation Media Group.