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This gold prepayment deal is part of Sibanye-Stillwater's broader strategy to raise over $500 million through similar transactions. By securing upfront cash, the company avoids taking on additional debt, which is crucial for maintaining financial stability. CEO Neal Froneman described t

Umeme managed to reduce its finance costs by 36.2 percent, dropping to USh16 billion ($4 billion) after repaying all term loans in December 2023. However, these gains were offset by a rise in the income tax charge, which increased to USh11 billion ($3 million) from USh3.5 billion ($941,

KCB Group, under the leadership of CEO Paul Russo, is back to rewarding its shareholders with dividends after an 87 percent surge in net profit for the first half of 2024. The bank reported profits of Sh29.1 billion ($224.8 million), an increase that has led to the reinstatement of a di

BOC successfully cut its operating costs to Sh165.7 million ($1.3 million), down from Sh194.2 million ($1.5 million) the previous year. These strategic cost controls helped the company stay profitable even though revenue fell by 11 percent, from Sh589.9 million ($4.6 million) to Sh523.4

The Nigerian National Petroleum Company Limited (NNPCL) has repaid $625 million of the $1.036 billion it borrowed to buy a 20-percent stake in the Dangote Oil Refinery. As of Dec. 31, 2023, a balance of $424 million remains. This repayment forms a key part of NNPCL's decision to establi

Egyptian billionaire Hani Berzi's wealth has seen a notable decline, as the market value of his stake in Edita Foods Industries tumbled by over $11 million in the past ten days. This decline is linked to the recent slide in the company's stock price on the Egyptian Exchange (EGX). Accor

South Africa's TymeBank, controlled by Africa's first Black billionaire Patrice Motsepe, is set to expand its international footprint with a new launch in Indonesia by late 2024. This move aims to reinforce the bank's position as a growing financial entity in emerging markets, with a particular

IHS Holding, the telecom infrastructure giant led by U.S.-Nigerian businessman Sam Darwish, is exploring the sale of its tower operations in Rwanda and Zambia. The New York-listed company is reaching out to potential buyers for these assets as part of a strategy to reduce debt. The move

RCL Foods, a leading South African consumer goods and milling company backed by South Africa's richest man Johann Rupert, expects a triple-digit percent jump in its earnings for the fiscal year ending June 30, 2024. The company, partially owned by Remgro Limited, which Johann Rupert cha