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Femi Otedola has acquired an additional 95.7 million First HoldCo shares, increasing his ownership stake to 26.6%.

Nairametrics • Aug 24, 2026

Billionaire Femi Otedola purchased 95,699,240 ordinary shares of First HoldCo Plc at N131.48 per share on August 24, 2026.The transaction increases his total shareholding to 12.15 billion shares, cementing his position as the group's largest… Read full article →

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Egypt's MSMEDA partners with Startup Egypt to provide integrated financial and technical support to local startups and entrepreneurs.

Daily News Egypt (Business Section) • Aug 24, 2026

The Micro, Small and Medium Enterprise Development Agency (MSMEDA) signed a memorandum of understanding with Startup Egypt to provide technical, financial, and institutional support.The agreement aims to help Egyptian startups refine their business models, enhance… Read full article →

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Lagos-based CardinalStone Capital Advisers raises $76 million in the first close of its second West African fund.

Innovation Village • Aug 24, 2026

CardinalStone Capital Advisers (CCA) has secured $76 million in capital commitments for its second vehicle, the CCA Growth Fund II (CCAGF II).While its first fund focused primarily on Nigeria and Ghana, CCAGF II is expanding… Read full article →

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Lamu residents demand 70% of jobs at Dangote's proposed $17B refinery in Kenya before construction begins in 2026.

Business AM • Aug 24, 2026

Lamu community leaders and youth are demanding a legally binding agreement guaranteeing local residents 70% of the 60,000 projected jobs at Aliko Dangote's proposed mega refinery.The 700,000-barrel-per-day facility is slated to begin construction in October… Read full article →

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Visa, _able, and Onafriq partner to expand the Visa Flex Credential, enabling credit access on existing African debit cards.

Tech Build Africa • Aug 24, 2026

Visa, _able, and Onafriq have partnered to roll out the Visa Flex Credential across Central and Eastern Europe, the Middle East, and Africa (CEMEA).Onafriq will manage payment processing for eligible prepaid cards using its pan-African… Read full article →

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Cell C is negotiating with Starlink and Amazon Leo to resell satellite broadband and direct-to-device services in South Africa.

Bandwidth Blog • Aug 24, 2026

Cell C CEO Jorge Mendes confirmed active talks to resell satellite services as part of a capital-efficient, 'network-agnostic' expansion strategy.Amazon Leo has a non-exclusive distribution deal with Herotel starting in 2027, leaving the door open… Read full article →

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Kenya appoints cybersecurity veteran Dr. Martin Koyabe to chair its newly operationalized National Cybersecurity Agency.

Techmoran • Aug 24, 2026

Cybersecurity expert Dr. Martin Koyabe has been appointed as the Non-Executive Chairperson of Kenya's National Cybersecurity Agency (NCSA) for a three-year term starting August 21. The setup comes amid surging digital threats, with Kenya's Communications Authority… Read full article →

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South African AI startup Verascient raises $1.2 million to scale its enterprise knowledge management platform.

Innovation Village • Aug 24, 2026

Verascient successfully closed an oversubscribed $1.2 million (R19.5 million) funding round to address corporate data silos.The funding was backed by global investors including Founder Collective, Andrena Ventures, Cambridge Enterprise, Summit Ventures, Alan Knott-Craig, and Shayne… Read full article →

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Kenya's pension assets grow 12.66% to cross Sh3.17 trillion as schemes diversify away from government securities.

Capital FM Business Kenya • Aug 24, 2026

Kenya's pension assets under management crossed the Sh3 trillion mark for the first time, reaching Sh3.17 trillion in June 2026.Investments in quoted equities rose to Sh439.32 billion (14.37%), while private equity holdings and offshore investments… Read full article →

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Former Airtel Africa CEO Segun Ogunsanya joins Vodacom Group’s board as an independent non-executive director.

Business Post • Aug 24, 2026

Vodacom Group appointed Segun Ogunsanya as an independent non-executive director, effective October 9, 2026.The appointment is subject to a mandatory fit and proper assessment under the Johannesburg Stock Exchange Listings Requirements. Read full article →

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Nigeria's oil regulator warns 31 companies to pay signature bonuses or forfeit their 37 provisional block awards.

Business Post • Aug 24, 2026

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) gave 31 successful bidders an ultimatum to pay their signature bonuses or lose their provisional oil block awards.Failure to meet these financial obligations will result in the forfeiture… Read full article →

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Kenya's Tax Appeals Tribunal rules that KRA must consider offsetting tax debts with VAT credits before freezing bank accounts.

Capital FM Business Kenya • Aug 24, 2026

The Tax Appeals Tribunal ruled in favour of Easton Petroleum, stating the Kenya Revenue Authority (KRA) must process VAT credit offset requests before resorting to aggressive bank freezes.The Tribunal clarified that Section 47 of the… Read full article →

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MTN secures Nigerian approval for its $2.2 billion IHS Towers acquisition, provided it sells a 30% local stake.

BusinessDay Nigeria — Technology • Aug 24, 2026

MTN Group received regulatory clearance from Nigeria's Federal Competition and Consumer Protection Commission to acquire the remaining ~75% stake in IHS Towers it does not own.As a condition for the deal, MTN must divest 30%… Read full article →

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Frogfoot, Vox, and Hypa secure a massive investment valuing the group at R14.4B to accelerate township fibre rollouts.

Tech Financials • Aug 24, 2026

South African fibre network operator Frogfoot, ISP Vox, and prepaid provider Hypa have secured a major capital injection from a heavy-weight local consortium.The transaction values the combined entities at R14.4 billion (R8.4 billion post-debt equity… Read full article →

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FiberOne Broadband is expanding network coverage across seven Nigerian states while scaling its local community and engineering training programs.

BusinessDay Nigeria — Technology • Aug 24, 2026

FiberOne Broadband plans to expand services to Abeokuta, Edo, Ondo, Delta, Kano, and Kaduna before the end of the year, building on its existing network in Lagos, Abuja, Port Harcourt, Ilorin, and Ibadan.FiberOne established the… Read full article →

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The Kenyan government plans to restructure and rename embattled Sacco union KUSCCO to KEFESCO following a Sh13 billion loss.

Capital FM Business Kenya • Aug 24, 2026

Cooperative Development Commissioner David Obonyo has summoned KUSCCO shareholders to a special general meeting to discuss the union's deep financial crisis.The special general meeting is scheduled for August 28 at the All Saints Cathedral Church… Read full article →

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Egypt is targeting EGP 138.9 billion in ICT investments for FY 2026/27, relying heavily on private capital.

EnterpriseAM Egypt • Aug 24, 2026

Egypt's Communications Ministry aims to secure EGP 115.4 billion in private and foreign investments for FY 2026/27, representing 83.1% of the sector's total target.The government is targeting USD 8 billion in digital exports by June… Read full article →

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Egypt's Supply Ministry has formed a joint committee to review bakery operational challenges and subsidised bread production costs.

Daily News Egypt (Business Section) • Aug 23, 2026

Egypt's Minister of Supply and Internal Trade, Sherif Farouk, directed the urgent creation of a joint committee to evaluate bakery owners' demands.The committee, comprising ministry and commerce representatives, has a mandate to deliver a comprehensive… Read full article →

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The Central Bank of Egypt approved new regulations for electronic identity verification to boost digital banking.

Daily News Egypt (Business Section) • Aug 23, 2026

The Central Bank of Egypt (CBE) approved regulations governing the Digital Financial Identity (DFI) Platform for electronic Know Your Customer (eKYC) services.The new rules enable customers to open bank accounts, access products, and update information… Read full article →

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Egypt partners with global port operators and develops eight logistics corridors to boost its maritime transshipment competitiveness.

Daily News Egypt (Business Section) • Aug 23, 2026

Egypt's Transport Minister Kamel Al-Wazir announced strategic partnerships with global port operators and shipping lines to attract transshipment trade and enhance competitiveness.The government is implementing eight logistics corridors, including the Bernice-Aswan-East Oweinat-Al Kufra-N’Djamena route, to… Read full article →

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Ugandan President Museveni proposes exempting medical workers from PAYE tax to boost retention and increase take-home pay.

Business Times Uganda • Aug 23, 2026

President Yoweri Museveni has directed the Ugandan government to explore exempting healthcare workers' salaries from the Pay As You Earn (PAYE) income tax, which currently tops out at 30%.Alongside the tax proposal, the government suspended… Read full article →

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The World Bank bans Webmasters Kenya CEO James Ayugi for five years over fraudulent practices in Somalia-based digital projects.

Capital FM Business Kenya • Aug 24, 2026

The World Bank Sanctions Board has issued a minimum five-year debarment against James Ayugi and his firm, Webmasters Kenya Ltd.Webmasters Kenya was found to have falsely certified the availability of key experts and subsequently obstructed… Read full article →

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Egypt's Financial Regulatory Authority introduces new short-selling rules requiring investors to provide 50% cash collateral on borrowed securities.

AllAfrica Business • Aug 22, 2026

Egypt's Financial Regulatory Authority (FRA) has approved Resolution No. 155 of 2026, establishing a new regulatory framework for short selling on the Egyptian Exchange (EGX).Under the new rules, investors must provide a 50% cash collateral,… Read full article →

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Absa replaces Standard Bank as custodian of South Africa's $218 billion Government Employees' Pension Fund.

Innovation Village • Aug 22, 2026

Absa won a competitive contract to become the Master Custodian of South Africa's Government Employees’ Pension Fund (GEPF), Africa's largest pension fund with over $218 billion in assets.The transition, starting in August 2026, ends a… Read full article →

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CIB Egypt receives preliminary approval to launch yomo, a standalone digital bank backed by a $300 million investment.

IndexPrima • Aug 23, 2026

The Central Bank of Egypt granted preliminary approval on August 19, allowing yomo to build its operations ahead of a targeted Q4 2026 launch.Backed by a $300 million investment from CIB Egypt, yomo is structured… Read full article →

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Nigeria's FEC approves two new NIGCOMSAT satellites to boost broadband coverage in underserved communities.

Business AM • Aug 23, 2026

The Federal Executive Council (FEC) approved the acquisition and deployment of two high-throughput satellites, NIGCOMSAT-2A and NIGCOMSAT-2B.Nigeria Communications Satellite Limited (NIGCOMSAT) will lead the project's implementation under the supervision of the Federal Ministry of Communications,… Read full article →

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The US is pushing for stronger Nigerian intellectual property laws to unlock international investment in the local music industry.

Business AM • Aug 23, 2026

The U.S. Consulate General in Lagos hosted a three-day workshop with over 120 creative industry stakeholders to strengthen Nigeria's music economy legal foundations.American companies like Universal Music Group, Sony, and Meta have expanded Afrobeats globally… Read full article →

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A Nigerian court orders Stanbic IBTC to pay ₦15 million for sending marketing emails to former customers.

Nairametrics • Aug 22, 2026

On 29 July 2026, the Federal Capital Territory High Court ordered Stanbic IBTC to pay ₦15 million in damages to two former customers.The bank continued to send marketing emails and text messages to the claimants… Read full article →

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Nigeria's blockchain association calls for a 12-month review of virtual asset tax rules to prevent trading moving underground.

BusinessDay Nigeria — Technology • Aug 22, 2026

The Stakeholders in Blockchain Technology Association of Nigeria (SiBAN) has requested a 12-month review of the Nigeria Revenue Service's new virtual asset tax rules.SiBAN warns that taxing transaction values rather than realized gains could impose… Read full article →

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Ghana and Russia expand economic ties, focusing on local currency trade, nuclear energy, mining, and technology partnerships.

Business Post • Aug 22, 2026

Ghanaian Foreign Minister Samuel Okudzeto Ablakwa and Russian Foreign Minister Sergey Lavrov held bilateral talks in mid-August 2026 to deepen trade and investment.Bilateral trade between the two countries has grown from $247 million in 2022… Read full article →

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