Uganda-based Sarrai Group wins deal to revive Mumias Sugar; Kenyan tycoon Julius Mwale signals court action
Sarrai Group has edged out Mwale to win the lease to operate and revive Mumias Sugar.
East Africa
Led by Mauritian Lagesse family, LUX Island Resorts gains $14.6 million in 20 days
Lux Resorts is a leading luxury hotel operator and resort owner in Mauritius.
Controversial Kenyan football club owner, Ricardo Badoer accused of fleecing investors of over $140 million
The tycoon was accused of perpetrating the crime through one of his platforms — Aidos Kuneen cryptocurrency.
Kenyan tycoon Suresh Bhagwanji Shah loses $38 million in 2021 as I&M Group shares slump
Shah holds a 10.8-percent stake in the Kenyan company, amounting to 178,514,362 ordinary shares.
Carbacid Investments looks to acquire Kenyan tycoon Ngugi Kiuna’s BOC Kenya
Due to legal and regulatory roadblocks, the finalization of the deal has now dragged on for more than one year.
Ecobank, Proparco seize Mumias Sugar after tycoon Julius Mwale reveals plans to hire Dangote-connected firm
Mumias Sugar was once the largest sugar manufacturer in Kenya.
Ashish J. Thakkar’s Mara Phones signs export deal with Angolan firm
Mara Phones is a subsidiary of Mara Group and operates in Rwanda and South Africa.
Chinese investor Robin Duan Wei acquires majority stake in Joseph Ndung’u-led Choice Microfinance Bank
Wei is a successful entrepreneur and the founder of Mobvista, a leading digital advertising company.
Iyin Aboyeji’s Future Africa, others invest $3.2 million in Kenyan startup Wowzi
Wowzi is a Kenyan startup that helps creative agencies push brand messages and extract consumer insights.
Controversial Kenyan tycoon Jimi Wanjigi set to run for presidency
Kenya’s next presidential election is scheduled for Aug. 9, 2022.
Ten of the richest businessmen in Tanzania — most of whom you’ve likely never heard of
According to AfrAsia Bank, the country is home to one billionaire, 80 multimillionaires and more than 2,300 individuals.
John Gachora-led NCBA Group risks $9.7 million in losses in attempt to revive insolvent business
NCBA Group is a leading Nairobi-based financial services conglomerate.
Tanzania’s richest man Mohammed Dewji to donate $870,000 to help construct Simba Sports Club stadium
The donation comes after Mo handed an $8.6-million check to Simba SC for a 49-percent equity stake in the club.
United States sanctions firms owned by South Sudanese tycoon Benjamin Bol Mel
Bol Mel once served as the chairman of the South Sudan Chamber of Commerce, Industry, and Agriculture.
James Mwangi-led Equity Group mobilizes $4.6 billion to support MSMEs in East and Central Africa
Equity Group is listed on the Nairobi Securities Exchange and holds over $8.92 billion in assets.
Ugandan tycoon Charles Mbire gains $1.2 million as stake in MTN Uganda surges above $51 million
The share price in the leading telecom company has increased by a single digit in just two days.