Peter Ndegwa leads Safaricom’s $300 million M-PESA upgrade
Peter Ndegwa said the upgrade will strengthen M-PESA’s backbone, making it more resilient and prepared for the future.
East Africa
Peter Munga reclaims Equity Group stake with $1.3 million new shares
The move boosts his direct stake in East Africa’s largest lender at a time when the bank continues to post strong results and maintain its market dominance.
Ngugi Kiuna’s BOC Kenya eyes growth after Carbacid's failed deal
BOC Kenya, led by Ngugi Kiuna, targets independent growth after the collapse of its acquisition deal with Carbacid, refocusing on market expansion.
Peter Munga loses bid to block Britam shares auction over $3.35 million loan
The bank seeks to recover $3.35 million in loans owed by Equatorial Nut Processors, controlled by Munga.
Edha Nahdi's recently acquired Bamburi Cement posts $7 million loss
Bamburi Cement, recently acquired by Tanzania’s Amsons Group, reported a $7 million net loss in 2024, driven by forex losses from the sale of its Ugandan unit.
Edha Nahdi talks $380 million cement expansion with Kenya’s president
The $380 million investment will boost Kenya’s manufacturing, create jobs, and support AfCTA goals.
Samuel Dossou-Aworet-backed Tullow strikes $120 million deal to exit Kenya
This is part of Tullow's ongoing strategy to streamline operations and reduce its debt.
Aigboje Aig-Imoukhuede-led Access Holdings seals Kenyan bank acquisition
Access Holdings, led by Aigboje Aig-Imoukhuede, finalizes the acquisition of the National Bank of Kenya, boosting its East African footprint and market reach.
NCBA, backed by Kenya’s richest families, fined by regulator
NCBA, partly owned by some of Kenya’s wealthiest families, has been fined for mishandling customer data, as regulators tighten enforcement of privacy laws.
Merali family's Sameer Africa posts highest profit in 11 years
This marks a 460% jump from last year, driven by forex gains and lower finance costs after clearing all debts.
Hassanein Hiridjee's AXIAN Telecom secures $100 million for expansion
AXIAN Telecom has secured $100 million from EIB Global to expand 4G and 5G in Madagascar and Tanzania, enhancing digital access and inclusion.
Sylvia Mulinge, Kenyan executive behind MTN’s $1.6 billion Uganda unit
When Mulinge became CEO of MTN Uganda on Oct. 1, 2022, it marked a pivotal moment for the company, women in leadership, and Africa’s business landscape.
South African billionaire Patrice Motsepe under pressure in $195 million lawsuit
The lawsuit threatens to derail ARC’s plans to delist and restructure, casting a shadow over the firm’s future.
Court blocks East Africa's first billionaire from recovering $2.2 million from dfcu
This marks a twist in the ongoing legal battle between Ruparelia’s Crane Management Services and dfcu bank.
Sanlam Kenya, backed by Kenyan investor Baloobhai Patel, to raise $19.3 million in rights issue
Sanlam Kenya, backed by tycoon Baloobhai Patel, plans a $19.3 million rights issue to cut debt, strengthen its balance sheet, and revive profitability.
Moi family’s Sosian Energy loses geothermal license in Kenya
The Moi family's energy company, Sosian Energy, faces setbacks as its geothermal project’s progress is halted amid growing scrutiny.