Aga Khan IV-backed Jubilee to receive $2.27 million from sale of Mauritian insurance subsidiary
Jubilee Holdings is a Kenyan investment holding company.
East Africa
Kenyan banking exec Andrew Ndegwa gains $1.5 million in 43 days from investment in NCBA Group
Ndegwa, an executive director of First Chartered Securities Limited, owns 4.3 percent of NCBA Group.
Malagasy tycoon Hassanein Hiridjee says Africa needs to invest in clean energy transition
Hiridjee is one of Madagascar’s wealthiest and most powerful business leaders.
Ugandan tycoon Charles Mbire to pocket $1.15-million interim dividend from MTN Uganda
Mbire owns a significant 3.98-percent stake in the Ugandan telecom outfit.
Led by Kenyan founder Owen Sakawa, AI-powered startup Elloe acquires Flo by Saada
Elloe was founded in 2021 by Sakawa, Abhijay Rao, and Aaron Madolora.
Controlled by Kenyan tycoons, Britam Holdings hints at sale of HF Group stake
Britam has classified its 48.2-percent stake in HF Group as held for sale.
Kenyan businessman James Mwangi gains $9.9 million in less than two months as Equity shares rebound
Mwangi’s 3.38-percent stake has now risen in value to $51.71 million.
Tanzanian businessman Gaurav Kotecha fails to overturn arrest warrant over $5.9-million fraud case
Kotecha has been charged alongside his father, Midland Hauliers Director Javesh Kumar Prabhudar Kotecha.
Kenya Revenue Authority investigates John Kimani-linked Kakuzi for tax evasion
Kimani owns 32.3 percent of the company, or 6,330,699 shares.
Ugandan tycoon Charles Mbire’s MTN Uganda reports more than $50 million in profit in H1 2022
Mbire owns 3.98 percent of the company.
Indian-Kenyan entrepreneur Kamal Budhabatti’s Little plans to raise $17 million in stake sale
The funding will also aid in the development of its infrastructure and talent pool through retention and strategic recruitment while growing its presence in the region.
Madagascar’s richest man Ylias Akbaraly’s Thomson Broadcast finalizes GatesAir acquisition
Thomson Broadcast is a wholly owned subsidiary of Group Sipromad.
Kenyatta family-linked NCBA unveils $16.8-million EV financing as demand for battery-powered cars soars
NCBA Group is a Nairobi-based financial services conglomerate with subsidiaries in Tanzania, Rwanda, Uganda, and Cote d’Ivoire.
Kenyan founder Jihan Abass’ Lami raises $3.7 million in seed extension round
Abass founded Lami Technologies to democratize insurance products and services for low-income Africans.
Mauritian Lagesse family-linked firm Alteo acquires further $8.2-million stake in Transmara Sugar
The Mauritian Lagesse family and the Dalais family both control a portion of Alteo Limited through related entities.
Kenya’s apex bank: Olugbenga Agboola’s Flutterwave, Ham Serunjogi’s Chipper Cash not licensed
The bank’s statement comes after Flutterwave denied links to a $59-million money laundering scheme.