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Egyptian tycoon Yasmine Khamis turns to AI to power Africa’s next retail boom
Oriental Weavers opens Cairo’s first AI-powered carpet showroom, blending tech with tradition under CEO Yasmine Khamis’ leadership.
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Zimbabwe’s richest man Strive Masiyiwa sells off all Netflix shares
Strive Masiyiwa sells all Netflix shares as Cassava Technologies ramps up Africa’s AI push with Nvidia-powered data centers.
London civil suit targets Egyptian billionaire in old murder case
Hisham Talaat Moustafa battles a London civil suit linked to a 2008 murder while driving record real estate sales across the Gulf.
Nigerian energy mogul Ahonsi Unuigbe pushes NGX cross-listing talks in Dubai
Ahonsi Unuigbe deepens ties between Nigeria’s markets and Dubai to unlock global capital for African energy firms.
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Legal dispute threatens Tanzanian billionaire Rostam Aziz’s Mombasa LPG project
Rostam Aziz’s Mombasa LPG project faces court challenge over alleged environmental harm, coral disruption, and lack of community consultation.
U.S.-Nigerian telecom executive Sam Darwish’s stake in IHS gains nearly $6 million
The recent rally has driven Sam Darwish’s stake to nearly $50 million.
Ghabbour family, one of Egypt’s wealthiest, gains $21.5 million from GB Corp.
The recent rally in GB Corp.’s shares has pushed the Ghabbour family’s stake to nearly $234 million.
Egyptian tycoon Yasmine Khamis turns to AI to power Africa’s next retail boom
Oriental Weavers opens Cairo’s first AI-powered carpet showroom, blending tech with tradition under CEO Yasmine Khamis’ leadership.
Alami Lazraq’s stake in Moroccan real estate firm tops $600 million
Alami Lazraq’s ADI stake hits $618 million after stock rally adds $46.4 million to his wealth in just two weeks.
London civil suit targets Egyptian billionaire in old murder case
Hisham Talaat Moustafa battles a London civil suit linked to a 2008 murder while driving record real estate sales across the Gulf.
Orascom, controlled by Egypt’s richest family, faces $28 million arbitration award
Orascom Construction faces a $28.7 million arbitration award in Qatar over the Sidra project, even as it celebrates wind energy progress in Egypt.
Egyptian billionaire Nassef Sawiris’ OCI finalizes $1.6 billion methanol business sale
OCI sells $1.6 billion methanol unit to Methanex, secures cash, cuts debt, and plans $1 billion shareholder payout by 2026.
Egypt’s Mohammed El-Sewedy sees electric stake rise toward $600 million
Egyptian tycoon gains $31.6 million in eight days as Elsewedy Electric stock surges on EGX.
Dalia Khorshid leads Beltone in securing $20 million in green funding
Beltone secures $20 million from SANAD and GGF to fund MSMEs and green projects, deepening its sustainability push under Dalia Khorshid’s leadership.
Egyptian businesswoman Hend El-Sherbini expands IDH with $8 million CAIRO RAY acquisition
IDH moves deeper into radiology with $8 million CAIRO RAY deal.
Nigerian energy mogul Ahonsi Unuigbe pushes NGX cross-listing talks in Dubai
Ahonsi Unuigbe deepens ties between Nigeria’s markets and Dubai to unlock global capital for African energy firms.
Nigerian energy tycoon Austin Avuru gains $15 million from Seplat stake
Seplat Energy co-founder sees major rebound after an earlier market dip, reaffirming strength in Nigeria’s energy sector.
Nigerian banker Segun Agbaje-led GTCO targets $100 million in UK share sale
The move comes as the Lagos-based financial group seeks to recapitalize Guaranty Trust Bank Plc, its flagship banking unit, to meet new regulatory thresholds.
Moove, led by British-Nigerian entrepreneur Delano, nears $1.2 billion funding for U.S. expansion
Moove nears $1.2 billion debt raise to scale autonomous fleets in U.S. and Latin America after clearing early loan obligations.
Afreximbank raises Oando’s loan to $375 million as President’s nephew drives expansion
This is expected to fund Oando’s plans to ramp up production to 100,000 barrels of oil and 1.5 billion cubic feet of gas per day by 2029.
15 companies the late Nigerian businessman Aminu Dantata owned
Inside Aminu Dantata’s 15-company legacy spanning oil, real estate, banking, transport, and Nigeria’s economic rise.
Aliko Dangote’s mega refinery commits $467 million to CNG push
The refinery is deploying 4,000 CNG-powered trucks nationwide to deliver petrol, diesel, and aviation fuel directly to filling stations and industrial hubs.
Elon Musk’s Starlink reconnects Nigeria after regulatory halt
The expansion comes after significant upgrades to network capacity, aimed at boosting connectivity in Africa’s most populous nation.
Kenyan businessman Narendra Raval’s $85 million plant hits snag over lease conflict
Land dispute stalls Kenyan businessman Narendra Raval’s iron plant in Voi as county disowns lease, citing illegal leadership deal.
Mauritian tycoon Arnaud Lagesse's Phoenix completes $80 million acquisition in Seychelles
Phoenix Beverages buys 54.4% stake in Seychelles Breweries from Diageo to boost growth across East Africa and the Indian Ocean.
From Land to banks: Kenyatta family’s NCBA stake now worth over $100 million
Kenyatta family’s NCBA stake tops $100 million as shares rally 14% on the NSE, boosting wealth and reinforcing influence across East Africa.
Hassanein Hiridjee’s AXIAN eyes Jumia buyout as market value hits $600 million
AXIAN Telecom considers buying Jumia after raising stake and securing $600 million in bonds to boost Africa’s digital commerce growth.
After Kenya’s $20 million surprise, world’s richest investor gives away $6 billion
Warren Buffett gives $6 billion in Berkshire shares to five foundations, on the heels of a $20 million grant to Kenya’s health system.
Kenyan banker James Mwangi's Equity Group to auction vehicles in $2.3 million loan dispute
Kenya’s High Court cleared Equity Bank to auction 30 vehicles to recover a $2.34 million debt, underscoring rising defaults and tougher enforcement on distressed borrowers.
Hassanein Hiridjee’s AXIAN Telecom raises $600 million to expand connectivity in Africa
AXIAN Telecom secures $600M in bond funding to deepen digital reach, expand broadband, and connect millions across Africa.
Equity Group, led by James Mwangi, receives approval to launch UAE office
This marks a significant milestone in the bank’s international expansion strategy as it seeks to deepen global connectivity and access new markets.
Zimbabwe’s richest man Strive Masiyiwa sells off all Netflix shares
Strive Masiyiwa sells all Netflix shares as Cassava Technologies ramps up Africa’s AI push with Nvidia-powered data centers.
Glencore, led by South African executive Gary Nagle, unveils $1 billion buyback
The transaction, finalized on Wednesday, netted Glencore a 16.4 percent stake in Bunge and approximately $900 million in cash.
South African billionaire Patrice Motsepe’s wealth rises to $3.4 billion
Patrice Motsepe’s fortune hits $3.4 billion as shares in Harmony Gold and ARM surge; fintech bets deepen his footprint in digital finance.
Malawian tycoon Hitesh Anadkat’s stake in FMB Capital tops $700 million again
Hitesh Anadkat’s FMB Capital stake rises to $738.85 million as shares rally 15% in four days, adding $96 million to his fortune.
Mining company owned by Africa's first Black billionaire unveils plans to cut jobs
The decision underscores ongoing challenges in South Africa’s manganese mining sector and broader commodity price pressures.
South Africa’s richest man Johann Rupert’s wealth jumps by $1 billion in a week
Johann Rupert adds $1 billion in a week as Richemont and Reinet shares climb, lifting his net worth to $16.9 billion.
South African billionaire Christo Wiese’s Invicta profit rises above $40 million
The company’s improved performance reflects ongoing efforts to streamline operations, boost efficiency, and focus on key areas of the business.
Johann Rupert’s Reinet in talks to sell pension stake in deal worth up to $6.8 billion
Reinet, led by Johann Rupert, is in talks to offload its top asset, Pension Insurance Corp, in a deal worth up to $6.85 billion.
Ethiopia’s richest man adds $1 billion, back to Bloomberg list after Preem's deal
The $1 billion rebound not only brought him back onto the list but pushed him up to 455th place.
Preem, formerly owned by Mohammed Al-Amoudi, posts $3.29 billion in Q1 sales
Preem's Q1 2025 sales dropped 8.3% to $3.29 billion, with weaker margins and downtime impacting profits.
Samuel Tafesse: Ethiopian developer behind Africa’s first Marriott hotel
From fixing roofs in Addis Ababa to developing sub-Saharan Africa’s first Marriott hotel, Tafesse has become one of Ethiopia’s top businessmen.
VARO Energy to acquire Preem from Ethiopian billionaire Mohammed Al-Amoudi
This acquisition signals the end of Ethiopian billionaire Mohammed Al-Amoudi’s long-standing role in Sweden’s energy sector.
Belayneh Kindie ventures into Ethiopia’s electric mobility space with 100 e-buses
Ethiopian businessman Belayneh Kindie launches 100 locally assembled electric buses in Addis Ababa, advancing Ethiopia’s clean transit and electric mobility goals.
Ethiopia’s richest man Mohammed Al-Amoudi sees Preem stake soar to $4.7 billion
Preem’s newly published 2024 annual report provided fresh insights into its valuation, driving up the value of Mohammed Al-Amoudi’s stake.
Ethiopian billionaire Mohammed Al-Amoudi’s Preem posts $12.8 billion in 2024 revenue
The company reported lower revenue and profit for the second straight year, reflecting weaker refining margins and a challenging market environment.
Ethiopia’s 10 richest businessmen
These business leaders are not just accumulating wealth; they are pivotal players in Ethiopia’s transformation.
Latest Posts
Kenyan businessman Narendra Raval’s $85 million plant hits snag over lease conflict
Land dispute stalls Kenyan businessman Narendra Raval’s iron plant in Voi as county disowns lease, citing illegal leadership deal.
Egyptian tycoon Yasmine Khamis turns to AI to power Africa’s next retail boom
Oriental Weavers opens Cairo’s first AI-powered carpet showroom, blending tech with tradition under CEO Yasmine Khamis’ leadership.
Vista, led by Black billionaire Robert F. Smith, exits Cvent with $1.3 billion sale
The sale comes a year after Blackstone took Cvent private in a $4.6 billion acquisition, finalizing its full ownership of the event software company.
Zimbabwe’s richest man Strive Masiyiwa sells off all Netflix shares
Strive Masiyiwa sells all Netflix shares as Cassava Technologies ramps up Africa’s AI push with Nvidia-powered data centers.
Alami Lazraq’s stake in Moroccan real estate firm tops $600 million
Alami Lazraq’s ADI stake hits $618 million after stock rally adds $46.4 million to his wealth in just two weeks.
Glencore, led by South African executive Gary Nagle, unveils $1 billion buyback
The transaction, finalized on Wednesday, netted Glencore a 16.4 percent stake in Bunge and approximately $900 million in cash.
London civil suit targets Egyptian billionaire in old murder case
Hisham Talaat Moustafa battles a London civil suit linked to a 2008 murder while driving record real estate sales across the Gulf.
Mauritian tycoon Arnaud Lagesse's Phoenix completes $80 million acquisition in Seychelles
Phoenix Beverages buys 54.4% stake in Seychelles Breweries from Diageo to boost growth across East Africa and the Indian Ocean.
Nigerian energy mogul Ahonsi Unuigbe pushes NGX cross-listing talks in Dubai
Ahonsi Unuigbe deepens ties between Nigeria’s markets and Dubai to unlock global capital for African energy firms.
South African billionaire Patrice Motsepe’s wealth rises to $3.4 billion
Patrice Motsepe’s fortune hits $3.4 billion as shares in Harmony Gold and ARM surge; fintech bets deepen his footprint in digital finance.
Nigerian energy tycoon Austin Avuru gains $15 million from Seplat stake
Seplat Energy co-founder sees major rebound after an earlier market dip, reaffirming strength in Nigeria’s energy sector.
Orascom, controlled by Egypt’s richest family, faces $28 million arbitration award
Orascom Construction faces a $28.7 million arbitration award in Qatar over the Sidra project, even as it celebrates wind energy progress in Egypt.
Nigerian banker Segun Agbaje-led GTCO targets $100 million in UK share sale
The move comes as the Lagos-based financial group seeks to recapitalize Guaranty Trust Bank Plc, its flagship banking unit, to meet new regulatory thresholds.
From Land to banks: Kenyatta family’s NCBA stake now worth over $100 million
Kenyatta family’s NCBA stake tops $100 million as shares rally 14% on the NSE, boosting wealth and reinforcing influence across East Africa.
Moove, led by British-Nigerian entrepreneur Delano, nears $1.2 billion funding for U.S. expansion
Moove nears $1.2 billion debt raise to scale autonomous fleets in U.S. and Latin America after clearing early loan obligations.
America’s richest Black billionaire backs effort to modernize U.S. government AI systems
Palantir teams with Accenture Federal to deliver AI solutions to U.S. agencies, fueling a 70% stock surge and cementing its role in mission-critical transformation.
