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First City Monument Bank (FCMB), the flagship banking unit of FCMB Group, a Lagos-based financial services holding company led by Nigerian banking executive Ladi Balogun, is intensifying its efforts to fortify the country's non-oil sector, positioning it as a key pillar of the nation's economic

Workpay, a rapidly growing HR and payroll technology firm founded by Kenyan entrepreneur Paul Kimani, has successfully raised $5 million in Series A funding to bolster its expansion and solidify its presence in Africa's burgeoning HR and benefits management sector. The $5 million fundin

South African executive, Gus Attridge, has witnessed a sharp decline in the market value of his stake in Aspen Pharmacare, Africa's largest pharmaceutical company. Following a series of gains earlier this year, Attridge's holdings in Aspen has slumped by R381.8 million ($21.6 million) over the p

PayU, the payments and fintech division of global investment giant Prosus, led by South African billionaire Koos Bekker, has announced an expansion of its partnership with Amazon Pay Later . This move is set to offer instant credit access to millions of Indian shoppers, addressing a significant

The Nigerian government has intensified its efforts to combat malaria, a major public health threat, by appointing a high-powered team of the nation's leading business magnates to spearhead the campaign. Over the weekend, billionaire businessmen Aliko Dangote, Femi Otedola, and banking titan Ton

Oando Plc, an integrated energy solutions provider led by Nigerian oil magnate Wale Tinubu, completed its $783-million acquisition of Nigerian Agip Oil Company (NAOC) with financing from the African Export-Import Bank (Afreximbank). In a press release issued on Aug. 23 , Afreximbank det

The Saltzman family, founders of South Africa's leading retail pharmacy chain Dis-Chem Pharmacies, has experienced a significant increase in the value of their investment in the company, driven by recent buying interest on the Johannesburg Stock Exchange (JSE) . According to data tracke

Resilient, a Sandton-based real estate investment trust (REIT) led by South African tycoon Des de Beer, posted stronger-than-expected financial results for the first half of 2024, with a total profit of $57.4 million, despite challenging economic conditions and ongoing construction activities at

The $400-billion achievement highlights Vodacom's towards mobile financial services, a rapidly growing area for telecom companies in Africa. This growth is largely due to the company's expansion in its core markets and its 35-percent stake in Kenya's Safaricom. Safaricom alone added abo