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Kenyan banker and business executive James Mwangi has scored a paper gain of $7.9 million in recent weeks after a strong rise in the shares of Equity Group, East Africa’s leading financial services group. This reflects renewed investor interest in banking stocks as confidence returns.
Mwangi owns 127.8 million shares, equivalent to a 3.39 percent stake in the Nairobi-ba...
Fawry for Banking Technology and Electronic Payments (Fawry), a leading Egyptian fintech company led by Ashraf Sabry, has created a new parent company to bring its investments and subsidiaries under one structure.
The new entity, called Fawry Holding for Financial Investment, is designed to give the group a clearer operating framework as it adds new businesses and expan...
Michael Jordan, one of the world’s richest Black billionaires and widely considered the greatest NBA player in history, has filed a lawsuit against NASCAR, the U.S.’s leading motorsports organization. The lawsuit accuses the stock car racing body of operating an illegal monopoly that has financially harmed 23XI Racing, the team Jordan co-owns.
Jordan in court ov...
Eterna Plc, the Nigerian downstream energy company backed by oil mogul Gabriel Ogbechie, has opened a N21.5 billion ($14.9 million) rights issue as it pushes to strengthen its finances and expand its operations. The move signals a renewed phase for the company as it seeks to place itself on firmer ground after a volatile period in the industry.
Shareholders offe...
On a late-March morning in 2021, a chartered vessel eased away from Calabar Port loaded with 7,000 metric tonnes of Nigerian cocoa beans — the first bulk cocoa shipment from that port in 14 years. The cargo belonged to Starlink Global & Ideal Ltd, and on the quay, its managing director, Adeniji Adeyemi, watched a long-held argument sail into view: Nigeria could, in fact, ...
