Kenyan tycoon James Mwangi’s stake in Equity Group is worth $59.8 million
Mwangi holds a 3.38-percent stake, or 127,809,180 shares, in the financial services group.
East Africa
Mauritian tycoon Arnaud Lagesse-led IBL Group posts $36 million in profit in H1 2022
The Mauritius-based conglomerate recorded a triple-digit increase in profit in the first half of its 2022 fiscal year.
Mauritian tycoon Hector Espitalier-Noel’s New Mauritius Hotels obtains approval to enter into $22.3-million facility
New Mauritius Hotels has long been the pioneer and leader of the Mauritian tourist business.
Mauritian tycoon Arnaud Dalias’ CIEL Limited declares $21 million in profit
Dalais, the chairman of the Mauritius-based company, owns an eight-percent stake in CIEL.
Uganda’s richest man Sudhir Ruparelia regains control of Crane Bank
Ruparelia had a net worth of $1.1 billion in 2012.
WPP Scangroup appoints Patricia Ithau to replace fallen Kenyan mogul Bharat Thakrar as CEO
Her appointment comes a year after Thakrar stepped down as CEO.
Malagasy businessman Hassanein Hiridjee’s AXIAN Telecom launches $420-million bond
Hiridjee said the transaction’s success reflects AXIAN Telecom’s resilient business model.
Led by Kenya-based entrepreneur Jit Bhattacharya, BasiGo receives $4.3 million in seed funding from investors
BasiGo aims to make East Africa a global leader in clean, affordable electric bus transit.
Mauritian tycoon Hector Espitalier-Noel’s New Mauritius Hotels posts $12.5 million in profit
The pioneer and leader of the Mauritian tourism industry posted impressive results for Q2 2022.
Tanzanian Rajabali brothers gain $2.1 million as CRDB Bank shares skyrocket by double digits
The multimillionaire brothers, Aunali and Sajjad Rajabali, own a 2.6-percent stake in the Dar es Salaam-based lender.
Led by Mauritian Lagesse family, LUX Island Resorts posts $9.7 million in profits in Q2 2022
Lux Resorts is a leading luxury hotel operator with properties and operations in Mauritius, the Maldives, China, France and Vietnam.
Kenyan insurtech startup founder Jihan Abass’ Lami acquires Bluewave Insurance to drive expansion plans
The acquisition aligns with the firm’s mission to break the three-percent insurance penetration barrier in Africa.
Kenyan entrepreneur Mark Mwangi’s Amitruck receives $4 million in funding to expand across Africa
The seed round was completed nearly a year after the Kenyan startup completed its pre-seed funding.
Malagasy tycoon Hassanein Hiridjee’s Axian Group acquires Senegalese firm, Eydon Petroleum
Following the deal, Eydon Petroleum’s operations will be integrated into Axian’s existing portfolio.
Kenyan tycoon Jaswant Rai challenges Mumias Sugar’s leasing contract to younger brother’s firm
The legal action is expected to exacerbate the Rai brothers’ feud over their late father’s inheritance.
Mansoor Hamayun’s Bboxx secures $15-million loan facility to finance solar systems for Kenyans
Bboxx is a next-generation utility company.