Haresh Soni’s Nairobi Business Ventures acquires Delta Automobile, Delta Cement as part of $27-million deal
The company made the disclosure this morning, Oct. 18, in a statement issued from its office in Nairobi.
East Africa
Tanzanian multimillionaire Rajabali brothers gain $1.6 million from stake in CRDB Bank in 2021
The gains come off the back of a double-digit increase in the bank’s shares on the Dar es Salaam Stock Exchange.
Mozambican business magnate Salimo Abdula’s son kidnapped in South Africa, media report
According to Mozambican and Portuguese news reports, Jair Abdula was kidnapped on Thursday night in the city of Benoni.
Ugandan businessman Charles Mbire to see net worth rise by $50 million thanks to MTN Uganda listing
Mbire said the listing reaffirms its commitment to expanding investment opportunities for Ugandans.
Kenyan top executive James Ndegwa suffers $1.8-million loss as NCBA Group shares decline
The loss came off the back of profit-taking actions and portfolio-rotation activities on the Nairobi Stock Exchange.
Airtel Africa appoints Ethiopian businesswoman Tsega Gebreyes non-executive director
Gebreyes has played seminal roles in the founding of companies with operations in Africa and abroad.
Jeremy Awori-led Absa Bank auctions 40 vehicles linked to bankrupt Italian firm CMC di Ravenna
Formerly Barclays Bank Kenya, Absa Bank Kenya is the local subsidiary of the South Africa-based Absa Group.
Kenyan tech tycoon Julius Mwale outbids participants in deal to control Mumias Sugar
The bid puts him ahead of steel tycoon Narendra Raval and Rai Group Chairman Jaswant Rai.
Mauritian businessman Guillaume Dalais to earn $158,600 in interim dividend from CIEL Limited
The dividend will be paid from the group’s full-year profits of $10.45 million for the period ending June 30.
Kenyan billionaire David Langat and family dragged to court over $152,000 travel debt
The plaintiff claims that they flew around the country and abroad for a year and now refuse to pay the bill.
Ugandan multimillionaire Charles Mbire in high spirits as MTN IPO looms
MTN Uganda has been operating in Uganda since 1998 when it acquired a 20-year license.
Malawian tycoon Thomson Mpinganjira bags nine-year sentence in election bribery case
The judge said the tycoon committed a serious felony and was wrong for trying to use his money to pervert justice.
Ten of the richest businessmen in Ethiopia — most of whom you’ve likely never heard of
Despite ranking only 29th in Africa by economic wealth, Ethiopia is a land of riches for thousands.
Arnaud Dalais-led CIEL Limited posts $10.45-million full-year profit, as earnings rebound
CIEL is a Mauritian conglomerate operating in emerging markets across Africa and Asia.
Mauritian banker Pierre Guy Noel to pocket $291,520 in final dividend from MCB Group
The dividend will be paid from the $194.5 million in profit that the lender posted at the end of its 2021 financial year.
Isabella Ochola-Wilson-led Unga Group posts $2.66 million in profit as revenues remain flat at $161.2 million
The figure represented a 343.6-percent growth compared to last year.