Flour Mills plans $1-billion investment in Nigeria over four years
The announcement follows a move by its majority shareholder, Excelsior Shipping Company, to buy out minority shareholders and take the company private.
Hot News
Grid Africa secures $2.8 million to boost solar projects in South Africa
The move aims to boost renewable energy projects in South Africa, as the country grapples with an increasingly strained power sector.
PSG Group records $37.1-million profit in H1 2024
Total income increased by 13.04 percent to $186.28 million, driven by improved customer activity and market-linked revenue streams.
United Capital reports nearly $10-million profit for first nine months of 2024
Gross earnings surged by 60.87 percent, reaching N28.17 billion ($17.21 million) from N17.51 billion ($10.7 million) in the corresponding period of 2023.
Jay-Z extends NFL deal as Roc Nation continues Super Bowl halftime show production
NFL Commissioner Roger Goodell confirmed the extension, emphasizing the positive relationship between both parties.
Sue Nabi faces $48-million drop in Coty stake amid share price decline
Algerian-born executive Sue Nabi's net worth takes a hit as her stake in Coty slumps below $255 million.
Orascom Development Egypt secures $155-million loan from IFC
The financing will enhance the company’s financial stability and fund future expansion efforts.
Mauritius-based EAGH to acquire 86.5 million shares in I&M Group for $32.4 million
The transaction, valued at Ksh4.2 billion ($32.4 million), marks a significant shift in the region's banking landscape.
Ahmed Ezz's stake in Cairo-based steel giant declines by $116.5 million
This loss reduces his total holdings to below $700 million. He remains the second-richest investor on the Egyptian Exchange and one of Egypt's wealthiest individuals.
Moove enters Mexican market in continued global expansion efforts
The startup, which aims to achieve profitability next year, is committed to empowering gig workers and promoting sustainable mobility in North America.
UBA CEO Oliver Alawuba’s stake tops $1.4 million after new acquisition
Alawuba, who leads one of Africa's most transformative financial institutions, continues to grow both the bank's operations and his personal fortune this year.
Safaricom expands M-PESA platform to Ethiopia, boosting regional financial inclusion
The move aims to strengthen regional financial inclusion and boost economic activity across borders.
Aga Khan IV's investment in Nairobi’s Jubilee Holdings gains $3.4 million
This follows an earlier loss of $3.52 million between April 16 and 26 when his holdings dropped from $40.78 million to $37.27 million.
GB Corp’s financial unit receives approval to expand into debt capital markets
This milestone marks a critical step in the company's strategic move into the debt capital markets, broadening its range of financial activities as it seeks to diversify.
U.S.-Nigerian telecom tycoon Sam Darwish loses $7.42 million as IHS shares fall
This follows a brief uptick between Aug. 6 and 10, when his stake gained $4.61 million amid a fleeting share price recovery.
Madinet Masr, Redcon partner on $12.4-million investment in Egypt
Madinet Masr seals a strategic partnership deal with Redcon Spain Construction for sprawling Sarai development.