Construction giant led by North Africa's richest family joins efforts to expand wind farm in Egypt
Orascom Construction, a global engineering leader, expands its renewable energy portfolio in Egypt.
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Kenyan executive James Ndegwa gains $2.4 million from NCBA stake in 11 days
Ndegwa, the former chairman of Kenya’s Capital Markets Authority, owns 4.57 percent of the Nairobi-based financial services conglomerate.
Elon Musk’s Starlink introduces portable kit in Kenya amid expansion push in Africa
Dubbed the ‘Starlink Mini,’ the kit, priced at Ksh27,000 ($210), is significantly cheaper than the existing Ksh45,500 ($354) standard package.
South African executive John Copelyn-led Southern Sun plans $58.3-million revitalization investment
The redevelopment initiative includes extensive renovations not only for the Elangeni and Maharani hotels but also for other Southern Sun-managed properties nearby.
NCBA, backed by Kenya’s richest families, to provide digital skills training for 3,000 employees
This initiative marks a significant step in the bank’s commitment to enhancing its workforce’s expertise in emerging technologies.
Egyptian steel magnate Ahmed Ezz’s stake in Ezz Steel rises by over $100 million
In just two weeks, the Egyptian steel magnate has seen his stake in the steel giant appreciate by more than $100 million amid soaring investor confidence.
Kenyan tycoon Peter Ndegwa-led Safaricom secures second $116-million sustainability-linked loan
This follows a similar loan obtained last year, bringing the total to Ksh30 billion ($232.2 million).
Nigerian billionaire Femi Otedola’s stake in FBN Holdings tops $84 million after latest purchase
Otedola’s recent acquisition solidifies his position as the largest shareholder in the parent company of First Bank of Nigeria, raising the market value of his stake to $84.2 million.
Hassanein Hiridjee’s AXIAN Group completes stake acquisition in Ivorian insurance startup
The acquisition, finalized in mid-July 2024, positions AXIAN as WiASSUR’s second-largest shareholder and grants the conglomerate a governance role.
Prosus, linked to South African billionaire Koos Bekker, offloads $743 million worth of Trip.com shares
Prosus N.V. has grown into a leading global consumer Internet group. The transaction gives Prosus liquidity to focus on higher-growth areas in its portfolio.
Nigerian billionaire Femi Otedola’s wealth grows by $400 million despite naira devaluation
Otedola’s net worth has surged by $400 million since the start of 2024, increasing from $1.1 billion to $1.5 billion, according to Forbes.
Greek tycoon John Coumantaros secures approval to buy out minority stakeholders in Flour Mills of Nigeria
Excelsior Shipping, linked to Coumantaros, has secured a court order to convene a Court-Ordered Meeting, during which shareholders will vote on the proposed scheme.
Vista Equity, under America’s second-richest Black billionaire, joins Blackstone in $8.4-billion Smartsheet deal
This acquisition is expected to deliver substantial value to Smartsheet’s shareholders and aligns seamlessly with the investment strategies of both firms.
Aliko Dangote, Africa’s richest man, to open family office in Dubai amid wealth protection shift
The move comes as Dangote, 67, continues to expand his industrial empire, which includes cement, sugar, fertilizer, and a newly operational $20-billion oil refinery in Lagos.
South African tycoon Andre du Plessis sees Capitec Bank stake rise above $160 million
Du Plessis’ stake in Capitec Bank now above $160 million, thanks to $10.49-million gain in 18 days.
Africa’s richest man Aliko Dangote receives approval for $97-million infrastructure project
The project will link the Lekki Deep Sea Port to the Shagamu-Benin Expressway via Epe, enhancing transportation infrastructure in Lagos, Nigeria’s economic center.