Bank of Africa posts $277.8-million profit in H1 2024
Bank of Africa led by Moroccan billionaire Othman Benjelloun sees 31.4-percent surge in profit for H1 2024 despite tough economic conditions.
Hot News
Ghana’s Daniel Ofori sees $2-million gain in GCB Bank shares amid rally
This follows a $1.19-million gain recorded between Jan. 1 and May 6, when the value of his stake rose from $4.91 million to $6.1 million.
Orascom Construction partners with Modon for Egypt’s Ras El Hekma mega project
Orascom Construction, a global engineering leader, expands its footprint with the Ras El Hekma mega project.
Mondi to acquire Schumacher packaging assets in $682-million deal, expanding European presence
The addition of Schumacher’s assets will increase Mondi’s capacity to produce fiber-based products, offering more sustainable alternatives to plastic packaging.
Royal Bank of Canada increases stake in South African retailer Clicks
Royal Bank of Canada increases stake in Bertina Engelbrecht-led Clicks Group, solidifying position as major shareholder.
Lagos-based Greek tycoon John Coumantaros’ stake in Flour Mills nears $100 million
The rise builds on earlier gains of $11.12 million between June 7 and Aug. 13, when his stake in Flour Mills rose from $62.13 million to $73.24 million.
Adenia partners enters Egypt, strengthening African presence
This marks the firm’s eight location across the continent and underscores its commitment to responsible investing and sustainable development in Africa.
Nigerian billionaire Femi Otedola's wealth rises $200 million in 12 days despite naira's ongoing decline
This brings his fortune to $1.6 billion, cementing his position as one of Africa’s richest and most influential businessmen.
TMG Holding partners with Huawei to launch Egypt's first AI cloud services
Building on their existing relationship in smart cities and sustainable solutions, TMG and Huawei plan to reshape Egypt’s urban landscape.
Access Holdings receives approval to establish Namibian banking unit
The move is part of Access Bank’s broader strategy to drive economic growth and enhance intra-African trade within the Southern Africa region.
Moroccan tycoon Adil Douiri's stake in packaged food company nears $20 million
As Douiri's fortune rises, his strategic vision for Mutandis cements his role as a key player in Morocco's business landscape and a leader in the region's consumer goods sector.
Mauritian Doger de Speville family's Medine posts $25.9-million profit in FY 2024
Medine's performance underscores its ability to navigate economic challenges, with real estate driving its growth during the period under review.
NNPC ends exclusive deal with Dangote’s refinery, opens portal for direct fuel supply
Nigeria’s state-owned oil company ends exclusive agreement with Dangote’s refinery, opens fuel market to competition.
Nigerian entrepreneur Cosmas Maduka's Coscharis unveils $4-billion green energy initiative
The ambitious project signifies a pivotal move toward sustainability in Nigeria’s energy landscape.
Standard Bank, led by South African banker Sim Tshabalala, strengthens African infrastructure investment efforts
This aligns with plans to unlock opportunities for alternative energy infrastructure on the continent, building on past collaborations.
Nigerian billionaire TY Danjuma takes over Kashimbila Hydro Dam concession in major power push
At the handover ceremony, Danjuma emphasized that the concession marked the beginning of a long and challenging journey towards achieving reliable electricity for the state.