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12/08/2025

Strong growth for Samih Sawiris’ Orascom Development Egypt.

The Egyptian billionaire’s flagship real estate and hospitality company saw revenue rise 12.9% in the first half of 2025 to $237.9 million, with profit soaring more than threefold.

Hotels, resorts, and commercial assets all delivered solid results, hospitality revenue alone jumped 45.5%, with most guests coming from abroad.

From El Gouna to Makadi Heights, the group’s developments continue to draw both local and international buyers, helping ODE end the half-year with a healthy cash position and stronger equity.

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12/08/2025

Elsewedy Electric is set to power a new era of industrial growth in Upper Egypt.

The Cairo-based multinational, controlled by Egypt’s billionaire El-Sewedy family, has signed an agreement with the Golden Triangle Economic Zone to develop the Safaga Industrial Zone.

The industrial zone, envisioned as a world-class hub, will host industries from mining and chemicals to manufacturing and food production.

The project, built to international standards, is designed to attract major local and foreign investment, create thousands of jobs, and position Upper Egypt as a key trade gateway to Africa, Europe, and the Middle East.

Proximity to Safaga Port, plus advanced infrastructure and sustainable practices, will give the zone a competitive edge.

Elsewedy Electric says the initiative fits perfectly with its vision of building “smart, investor-friendly industrial zones” that strengthen supply chains and boost exports.

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12/08/2025

South African businesswoman Phuthi Mahanyele-Dabengwa’s Naspers shares now worth $12.4 million

South African business leader Phuthi Mahanyele-Dabengwa has seen the value of her Naspers shares jump by $3.25 million this year, reaching $12.4 million.

The surge follows a 35.3% rise in Naspers’ share price in 2025, boosting the company’s market value to $51.7 billion and cementing its spot as Africa’s most valuable company.

Mahanyele-Dabengwa, who heads Naspers’ South African operations and serves as an executive director, oversees major brands including Takealot, Mr D Food, Superbalist, AutoTrader, and PayU.

Her growing stake reflects both her leadership and the company’s strong performance, fueled by AI-driven growth and its lucrative Tencent investment.

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12/08/2025

Edita Food Industries, the Cairo-based group led by Egyptian tycoon Hani Berzi, posted $190.7 million in revenue for the first half of 2025, up 15.8% year-on-year.

Net profit climbed 22.7% to $18.98 million, with stronger margins despite lower sales volumes.

Price increases, portfolio optimization, and growth in bakery, rusks, and biscuits helped offset an 18.4% drop in total packs sold.

The company also rolled out new products, expanded in Morocco, and invested in capacity upgrades.

Berzi, who holds a 41.95% stake worth over $220 million, says Edita’s focus remains on innovation and regional expansion.

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12/08/2025

Thom Mpinganjira has officially become Malawi’s first billionaire.

His stake in FDH Bank Plc has surged to $1.12 billion after the bank’s stock price soared 365%, lifting its market value to $2 billion.

The gains come as FDH Bank expands regionally, with a deal in place to acquire nearly all of Ecobank Mozambique.

Strong earnings, record profits, and bold moves have cemented Mpinganjira’s place as the country’s richest man and a leading figure in African banking.

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11/08/2025

Egyptian billionaire Hisham Talaat Moustafa’s stake in Talaat Moustafa Group (TMG) has crossed the $1 billion mark once again.

Following a recent 8.72% surge in TMG’s shares, the company’s market value now tops $2.4 billion on the Egyptian Exchange.

Moustafa’s 43.5% stake is valued at $1.04 billion, reflecting growing confidence in Egypt’s real estate market.

Despite a challenging 2025, TMG has delivered modest returns year-to-date, signaling steady strength for one of Egypt’s largest property developers, known for projects like Madinaty and Al Rehab City.

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11/08/2025

Charles Mbire’s MTN Uganda delivers strong revenue growth

MTN Uganda, led by prominent Ugandan investor Charles Mbire, posted a 13.1% rise in half-year revenue to $483.3 million, powered by double-digit growth in data and fintech services.

Data income surged 31.3% thanks to wider 4G and 5G coverage, a jump in subscribers, and increased device financing.

Fintech revenue climbed 18.6%, driven by higher transactions and uptake of advanced MoMo services.

However, net profit slipped nearly 10% after a one-off $31.1 million tax settlement with the Uganda Revenue Authority.

Shareholders have also approved a spin-off of MTN’s mobile money unit to accelerate its growth as a separate business.

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11/08/2025

Gemfields, the mining group linked to South African billionaire Desmond Sacco, has agreed to sell its luxury jeweler Fabergé to U.S.-based SMG Capital for $50 million.

The deal, set to close on August 28, 2025, marks Gemfields’ exit from luxury retail to refocus on its core mining operations in Mozambique and Zambia.

The sale includes $45 million upfront and up to $5 million in royalties, with proceeds going toward new ruby and emerald projects.

SMG Capital, led by Sergei Mosunov, says it plans to expand Fabergé’s global footprint while preserving its legacy of craftsmanship and prestige.

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11/08/2025

Dangote’s $20B refinery just rolled out 4,000 CNG trucks

Africa’s richest man, Aliko Dangote, has taken another big step in transforming Nigeria’s fuel supply chain.

His $20 billion Dangote Petroleum Refinery has deployed 4,000 compressed natural gas (CNG) trucks, a N720 billion ($470 million) investment aimed at cutting costs, boosting energy security, and creating jobs.

The fleet, imported through Lagos’ Apapa Port, will begin operations on August 15, with a target of saving Nigerians over N1.7 trillion ($1.11 billion) annually.

The plan is also set to create more than 15,000 jobs, support over 42 million small businesses, and reduce carbon emissions.

The refinery, Africa’s largest, is also ramping up capacity from 500,000 barrels per day to 700,000 barrels, a move that could further reduce fuel imports and reshape Africa’s energy market.

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11/08/2025

Glencore holds steady at $117B revenue despite coal slump

Glencore, the Swiss commodity trading and mining powerhouse led by South African executive Gary Nagle, has reported half-year revenue of $117.4 billion for 2025, virtually unchanged from last year.

The company weathered weaker coal prices and lower copper production, while still committing to $3.2 billion in shareholder returns this year, including a fresh $1 billion buyback.

CEO Gary Nagle says Glencore is positioning for a stronger second half, with higher copper output, cost savings, and rising demand for key commodities.

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11/08/2025

Ghana just threw a curveball at Canal+’s African expansion plans.

French billionaire Vincent Bolloré’s Canal+ is facing a major hurdle in its $2.9 billion takeover of MultiChoice after Ghana’s regulator ordered a shutdown of the pay-TV giant’s local operations over subscription rate disputes.

MultiChoice has been given until Sept. 8 to respond or risk losing its broadcasting license, a move that could ripple across Africa, where several countries are pushing back against rising pay-TV fees.

The standoff comes just months before Canal+’s October 2025 deadline to finalize the deal, raising fresh questions about the future of Africa’s largest pay-TV operator.

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11/08/2025

Thom Mpinganjira hits a $1.1B milestone

Malawian banker and entrepreneur Thom Mpinganjira has officially become the country’s richest man, thanks to a staggering rally in FDH Bank shares.

His indirect stake in the Blantyre-based lender is now worth $1.12 billion, putting him ahead of rival financier Hitesh Anadkat and cementing FDH Bank’s place among Malawi’s most valuable companies.

The bank’s market value has surged to $2 billion after its shares jumped 365% this year, driven by record earnings, soaring customer deposits, and strong dividends for shareholders.

For Mpinganjira, it’s the reward for more than two decades of building FDH Bank into one of Malawi’s most formidable financial institutions.

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