Tracey Turner’s 10-year-old startup, Copia, secures $50 million to drive pan-African expansion
Copia is a B2C e-commerce platform serving middle- and low-income African consumers.
East Africa
James Mwangi’s Equity Bank secures $49.3 million in funding for onward lending to small businesses
The funds will be deployed to render support through microcredit loans to small and medium-type businesses in Kenya.
Australian tycoon Matthew Yates’ OreCorp moves to offload Australian assets to focus on Tanzanian gold
The assets include the Hobbes Prospect within the Yarri Project in the Eastern Goldfields.
Britam Holdings appoints Kenyan executive Charles Njuguna as acting managing director
Njuguna played a strategic role as finance director in the execution of the group’s turnaround strategy.
Kenyan tech entrepreneur Eric Muli’s Lipa Later secures $12 million to expand in Africa
Lipa Later is a Kenyan consumer credit platform co-founded by Kenyan tech entrepreneur Eric Muli in 2018.
Kenyan high court suspends Mumias Sugar Lease to Sarrai Group weeks after ligation by Julius Mwale
The court action comes nearly two weeks after Kenyan tycoon Julius Mwale challenged the leasing of Mumias Sugar’s assets to Sarrai Group.
Court vacancies hamper Kenyan tycoon Baloobhai Patel’s $10.6-million acquisition deal via Carbacid Investments
Patel owns a 49.9-percent stake in Carbacid.
Kenyan banker James Mwangi loses $3.7 million in seven days from stake in Equity Group
Mwangi, the CEO and managing director of Equity Group, owns a 3.38-percent stake in the bank.
Led by Canadian executive Mike Henry, BHP Group moves to invest $100 million in Tanzanian nickel project
BHP Group will invest $40 million to accelerate the development of the Kabanga deposit.
Joshua Oigara-led KCB Bank commits $7.1 million to support MSMEs in Kenya
KCB Bank operates as a subsidiary of KCB Group, one of the largest commercial banking groups in East Africa.
Sarrai Group sets aside $9.7 million to start operations in Mumias Sugar, despite court case from Julius Mwale
Sarrai Group, an Uganda-based conglomerate, is led by Kenyan businessman Sarbi Singh Rai, who is the group chairman.
Wealthy Rai family of Kenya set to launch $44-million sugar plant
The Naitiri Sugar plant owned by the wealthy Rai family of Kenya is set to commence operations before the end of Q1 2022.
John Kimani-linked Kakuzi expects earnings to fall by 25 percent in 2021
Kenyan media mogul John Kimani who holds a governance role in Kakuzi, is the firm’s largest shareholder with a 32.3-percent stake.
U.S. businessman Jeffrey Stoops’ SBA Communications acquires Airtel Africa tower assets in Tanzania
Stoops holds a direct 0.77-percent stake in the U.S.-based wireless asset operator.
Despite ongoing litigation by Kenyan tycoon Julius Mwale, Sarrai Group resumes work at Mumias Sugar
Sarrai Group recently won a multibillion-shilling tender to control Mumias Sugar, but the win has been challenged in court.
Mauritian real estate mogul Arnaud Mayer’s Evaco Group suffers $5.1-million loss in 2021
Evaco Group was founded by Mauritian businessman Arnaud Mayer in 2001 as a real estate development company.