A family-owned grocery chain selling lychees and almond milk would have been an unlikely target when giant private equity funds were spending big in Africa.
Rio Tinto, the world's second-largest miner, has suspended one senior executive, accepted the resignation of a second and alerted US and UK authorities after discovering $10.5m in unexplained payments to a consultant in Guinea.
South Africa's Finance Minister Pravin Gordhan has said that the country must tackle corruption and weak economic growth or face the risk of a credit rating downgrade to "junk" status.
Mozambique's finance minister has a plan to deal with a debt crisis that threatens to derail one of Africa's most promising frontier economies but investors are far from convinced.
Africa's biggest pension fund, Public Investment Corporation, has sought approval from South Africa's central bank to raise its stake in Barclays Africa, two sources with direct knowledge of the matter said.
Safaricom raised its forecast for full-year core profit on Friday after a 31% jump in the first six months of the year, driven mainly by growth in revenue from mobile data services.
Zain, Kuwait's biggest telecom operator by subscribers, on Thursday said it will pay $129m to Bharti Airtel over a settlement related to the sale of Zain's Africa operations to the Indian firm in 2010.
- South Africa's Shoprite loses long-serving CEO to retirement
- Africa's youngest billionaire banks on regional integration to boost expansion
- Foreign investment in Mauritius jumps by 69% in first half of 2016
- Tunisia to offer $50bn of projects to foreign investors
- Total, Glencore and Gunvor bidding for Chevron's South African assets
- Gold Fields to spend $1.4bn on Ghana's Damang mine
- Nigeria's Arik plans $1bn share offer, possible London listing