Karl Toriola-led MTN Nigeria faces economic hurdles, reports over $80-million loss
Toriola attributes losses to currency devaluation, inflation, and higher operating expenses.
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Glencore-led by South African exec Gary Nagle eyes Shell’s assets in Singapore
In a strategic move to bolster its presence in the Asian market, Glencore is actively pursuing the acquisition of Shell’s assets situated on Pulau Bukom island.
Egyptian tycoon Safwan Thabet’s Juhayna unveils ambitious export expansion plans
Established nearly four decades ago by Thabet, Juhayna has become a significant player in the region’s consumer goods industry.
Nigerian billionaire Abdul Samad Rabiu’s cement company reports $284.4-million revenue in 2023
The recently published financial report highlights a remarkable 27.4-percent surge in revenue, rising from $223.2 million in 2022 to $284.4 million in 2023.
Ghanaian executive Selorm Adadevoh guides MTN Ghana to $1-billion revenue in 2023
The outstanding financial performance at the end of the 2023 fiscal year highlights Adadevoh’s impact at the helm of MTN Ghana.
Kenyan executive Edwin Kinyua-led Portland Cement posts $4.9-million half-year loss
The reduction in Portland’s net loss in the current reporting period is attributed to increased revenue from cement sales, coupled with higher tax credits and reduced expenses.
Noluthando Gosa’s Akhona Group explores stake purchase in Bidvest’s logistics division
Gosa leads Akhona Strategic Investments in acquiring a significant stake in Bidvest International Logistics.
Egyptian tycoon Hassan Allam’s firm forms strategic partnership with Saudi real estate giant Sumou
The collaboration aims to promote cooperation between the two companies for the development of high-quality real estate projects in Saudi Arabia and Egypt.
Ghanaian tycoon Joseph Siaw Agyepong’s group to construct waste treatment plants in Lagos
Agyepong underscored the dire consequences of inadequate waste management, citing the spread of waterborne diseases and environmental degradation.
South Africa’s second-richest man Nicky Oppenheimer gains $300 million in February
The surge in Oppenheimer’s wealth, which now totals $450 million year-to-date, can be attributed to a significant boost in the valuation of his diverse investments.
Cameroonian tycoon Paul Fokam’s bank bolsters local economy with $2.7 billion in 2023
The bank further solidified its position as a national market leader with a 19.2-percent market share in deposit collection and a 21.5-percent market share in credit at the close of 2022.
Nigerian tycoon Taiwo Afolabi’s cargo handling firm resumes operations after fire scare
Sifax Group’s official statement assures that the company’s robust backup plan ensured no data loss during the fire incident, minimizing any potential long-term impact on operations.
Nigerian-Lebanese billionaire linked to Sani Abacha gets approval to construct superhighway
The decision, made during a recent FEC meeting presided over by Nigerian President Bola Tinubu, follows the announcement by Minister of Works David Umahi five months ago.
Kennedy Bungane-led African Bank’s newly acquired unit faces $255-million lawsuit
In response, Sasfin expresses disappointment, pledging cooperation with Sars and commitment to tax compliance.
Led by South Africa exec Roy Bagattini, Woolworths posts $107 million in half-year revenue
Despite the impressive revenue growth, Woolworths encountered supply chain disruptions that impacted sales during the 26-week period.
Strive Masiyiwa’s telecom unit in Lesotho rolls out 5G technology
With the latest development, Econet Lesotho has become the second mobile operator in the country to deploy 5G, marking a significant stride in Lesotho’s telecom sector.