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Ugandan tycoon Ponsiano Ngabirano's Kampala Marriott valued at $167 million
Uganda's NSSF paid $50 million for 30% of the Kampala Marriott built by supermarket tycoon Ponsiano Ngabirano, valuing the hotel at about $167 million.
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VistaJet puts members on court with Ferrari's Charles Leclerc at US Grand Prix
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Ugandan tycoon Ponsiano Ngabirano's Kampala Marriott valued at $167 million
Uganda's NSSF paid $50 million for 30% of the Kampala Marriott built by supermarket tycoon Ponsiano Ngabirano, valuing the hotel at about $167 million.
Russian billionaires Alisher Usmanov and Mikhail Fridman hit by Lithuania asset freeze
Lithuania has imposed national asset freezes on Russian billionaires Alisher Usmanov and Mikhail Fridman, three weeks after the European Union lifted its sanctions on them.
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In 2002 Herbert Wigwe and Aig Aig-Imoukhuede took over Access, then 65th of 89 Nigerian banks, and bought their way to the top. Since his death in February 2024 the shares have lagged every big rival. The story of the deal-maker, and of the bank he left behind.
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A refinery in Lagos, mobile money in London, a fintech in Cairo, a supermarket chain in Nairobi and Africa's biggest phone seller in Hong Kong: five African-facing IPOs in one month. Who is selling, who is buying, and why day ninety matters more than day one.
Wealth Intelligence: The $16 Billion Question — Why Forbes and Bloomberg Disagree on Aliko Dangote, and How His Refinery IPO Will Settle It
Forbes says $51.7 billion, Bloomberg $35.7 billion. Most of the gap is one asset that has never had a market price: the refinery. Its IPO implies a valuation of about $48 billion, and subscriptions close Tuesday. What Dangote owns, how it is valued, and what listing will settle.
Egyptian billionaire Yasseen Mansour lifts Palm Hills stake as his son takes shares
Egyptian billionaire Yasseen Mansour’s reported stake in Palm Hills Developments increased to 14.11%, while a shareholder disclosure listed his son with 3 million shares.
Wealthy Moroccan businessman Moncef Belkhayat is bringing Intersport stores to Morocco in 2027
Moroccan tycoon Moncef Belkhayat has signed a deal to open Intersport sporting goods stores in Morocco from 2027, starting in Casablanca.
Egyptian fintech tycoon Mounir Nakhla's IPO draws 11 times demand from institutions
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Moroccan billionaire heir Moulay Mhamed Elalamy takes his family's Saham Group into Spain
Moulay Mhamed Elalamy, the 36-year-old chief executive of Morocco's Saham Group, has opened a Madrid investment holding as the family expands beyond Marbella.
Egyptian billionaire Naguib Sawiris-backed graphite firm presses $100 million claim against Guinea
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Moroccan billionaire Aziz Akhannouch's party left out of Morocco's new government
Morocco's incoming prime minister has formed a four-party coalition without billionaire Aziz Akhannouch's RNI, which led the government for the past five years.
Egyptian billionaire Ahmed Elsewedy's company wins $2.2 billion Saudi power plant deal
Elsewedy Electric, run by Egyptian tycoon Ahmed Elsewedy, and China's Sinohydro have signed a $2.2 billion contract to build a Saudi gas power plant.
Egyptian billionaire Naguib Sawiris apologizes to Saudis over Riyadh airport attack
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Nigerian financier Wole Abegunde now controls $61 million stake in fintech firm eTranzact
A little-known firm whose directors include eTranzact chairman Wole Abegunde has taken 56.18% of the Nigerian payments company, prompting a board overhaul.
Nigerian billionaire Aliko Dangote puts small investors first in refinery IPO
Africa's richest man says retail buyers putting ₦50,000 or less into his oil refinery's record IPO will be served first if the offer is oversubscribed.
Nigerian oil tycoon Wale Tinubu seeks fresh cash to cut $2 billion debt
Nigerian oil tycoon Wale Tinubu bought Eni's Nigerian oil unit. Now Oando must raise capital to cut about $2 billion of debt.
Nigerian oil tycoon Tein George's Vaaris agrees to buy Shell's Nigeria gas business
Shell has agreed to sell its Nigerian gas distribution business to Vaaris, chaired by Tein George, the oil services tycoon behind Lagos's The George hotel.
Africa's richest man taps Botswana to sell $500 million of refinery shares
Africa's richest man is using Botswana's stock exchange and Access Bank Botswana to bring Southern African investors into his record refinery share sale.
Nigerian billionaire Michael Ade-Ojo's university wins approval to train doctors
Elizade University, founded by Nigerian auto tycoon Michael Ade Ojo, says it can now train doctors, as its nursing graduates post a perfect pass rate.
Nigerian billionaire Aliko Dangote's refinery IPO opens to wealthy Ethiopian investors only
Ethiopia has opened Aliko Dangote's $1.6 billion refinery share sale to as many as 100 qualified investors, but retail buyers are barred.
Nigerian billionaire Aliko Dangote’s refinery posts $5.5 billion EBITDA in nine months
Dangote's Lagos refinery made $4.7 billion in nine months, reversing a loss a year earlier, as investors weigh its $1.6 billion share sale.
Sudanese-British billionaire Mo Ibrahim tells Zambia's president not to waste his first term
Mo Ibrahim told Zambia's Hakainde Hichilema not to waste his first-term progress, citing arrests, the death of a former MP and court closures.
Billionaires Narendra Raval, Edha Nahdi bet $600 million on clinker as Sarbjit Rai enters cement business
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President Paul Kagame says Rwanda wants a stake in Dangote's $16 billion Kenyan refinery
Rwanda's President Paul Kagame has confirmed his country is in early talks about taking a stake in Aliko Dangote's planned $16 billion Lamu oil refinery, saying Rwanda would be "very happy" to participate.
Aliko Dangote offers Kenya a $500 million stake in $20 billion Lamu refinery as September groundbreaking nears
Aliko Dangote has offered Kenya a $500 million stake in his planned $20 billion Lamu oil refinery, with groundbreaking now targeted for September as East African governments weigh their participation.
Madagascar's richest man Ylias Akbaraly attacks Elon Musk's layoffs in a new book
Madagascar's richest man Ylias Akbaraly criticises Elon Musk's mass layoffs in a new memoir, saying job cuts expose people to social death.
Esther Koimett becomes Middle East Bank Kenya's largest shareholder after inheriting Nicholas Biwott's stake
Esther Koimett, daughter of the late Kenyan billionaire and cabinet minister Nicholas Biwott, has emerged as Middle East Bank Kenya's largest individual shareholder with a 17.48% stake.
Aliko Dangote plans $17 billion refinery on Kenya's Lamu Island to end East Africa's fuel imports
Africa's richest man Aliko Dangote has selected Kenya's Lamu Island as the site for a $17 billion refinery that would transform East Africa's fuel supply.
High Court clears the way to distribute Simeon Nyachae's estate
A Kenyan court has dismissed a challenge by Simeon Nyachae's son, clearing the way to distribute the late politician's sprawling estate and business empire
South African billionaire Piet Mouton rescues TV thriller after its funder pulled out
Piet Mouton, son of PSG founder Jannie Mouton, funded M-Net thriller Invisible after a backer failed to pay mid-shoot, and lent his house too.
South Africa's wealthy Sacco family accuses billionaire Patrice Motsepe's ARM of power grab
Assore, the mining house controlled by South Africa's Sacco family, says Patrice Motsepe's ARM has taken powers it lacks at their shared mining venture.
Zimbabwean billionaire Kudakwashe Tagwirei joins ruling party's top body days after cabinet post
Kudakwashe Tagwirei, the US-sanctioned tycoon seen as President Mnangagwa's preferred successor, has been given a seat in Zanu-PF's politburo, the party's top decision-making body.
South African billionaire Johann Rupert's Richemont in talks to join De Beers bid
Swiss luxury group Richemont is discussing joining a consortium seeking to acquire De Beers, a move that could give Johann Rupert's company greater control over its diamond supply chain.
Late South African tycoon Markus Jooste's Steinhoff secrets probed in new book
A new book by journalist James-Brent Styan draws on Steinhoff's confidential forensic report and insiders to examine the late Markus Jooste and the group's collapse.
South African billionaire Patrice Motsepe raises African football grants by 33%
CAF, led by mining billionaire Patrice Motsepe, is lifting grants to its 54 national associations to $700,000 as the race to succeed him takes shape.
South African billionaire Rob Hersov's bitcoin bet hit by new market-abuse probe
Days after losing most of its board, the bitcoin company backed by Rob Hersov disclosed a new regulator probe into suspected share manipulation.
South African billionaire Patrice Motsepe sees $195 million lawsuit struck out in Tanzania
Tanzania's High Court has struck out Pula Group's $195 million damages claim against Patrice Motsepe and his companies, two months after a first strike-out.
Billionaire Mohammed Al-Amoudi accused of funding al-Qaeda in secret Pentagon report
A classified 2002 Pentagon report names billionaire Mohammed Al-Amoudi in an alleged money trail to Osama bin Laden, Swedish broadcaster SVT reports. He denies it.
Ethiopian billionaire Mohammed Al-Amoudi's failed refinery cost Morocco $7 billion
Mohammed Al-Amoudi bought Morocco's only refinery for 4 billion dirhams in 1997. It shut in 2015 owing over $4 billion and has never reopened.
Billionaire Mohammed Al-Amoudi orders his conglomerate to hire 40,000 more Ethiopians
Mohammed Al-Amoudi has instructed MIDROC's chief executive to lift the workforce from about 80,000 to between 100,000 and 120,000 employees.
Tewodros Ashenafi is the man foreign companies use to get into Ethiopia
Tewodros Ashenafi was the local partner on Ethiopia's largest privatisation, a $1.4 billion tobacco deal, and co-owns Ambo with Coca-Cola.
Ethiopian billionaire Mohammed Al-Amoudi is rebuilding his gold business in a new region
MIDROC has ordered Austrian machinery for a plant treating 1.25 million tonnes of ore a year, eight years after Ethiopia suspended its main mine.
Morocco rejects plan to nationalise Ethiopian billionaire Mohammed Al-Amoudi's collapsed SAMIR refinery
Morocco's upper house has rejected a bid to nationalise the SAMIR refinery, the shuttered facility once owned by billionaire Mohammed Al-Amoudi that collapsed under $4 billion in debt.
Saudi-Ethiopian billionaire Mohammed Al Amoudi's MIDROC secures $80 million for Sheraton Addis upgrade
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Qatar's billionaire Al-Khayyat family is bidding to build Africa's largest airport in Ethiopia
Qatar's Al-Khayyat family, through Power International Holding, is bidding to build Ethiopia's planned $12.5 billion Bishoftu airport and a 400-kilometre highway in the DRC.
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VistaJet puts members on court with Ferrari's Charles Leclerc at US Grand Prix
VistaJet members will play pickleball with Ferrari's Charles Leclerc, then spend the US Grand Prix weekend inside Ferrari's Paddock Club in Austin.
Ugandan tycoon Ponsiano Ngabirano's Kampala Marriott valued at $167 million
Uganda's NSSF paid $50 million for 30% of the Kampala Marriott built by supermarket tycoon Ponsiano Ngabirano, valuing the hotel at about $167 million.
Russian billionaires Alisher Usmanov and Mikhail Fridman hit by Lithuania asset freeze
Lithuania has imposed national asset freezes on Russian billionaires Alisher Usmanov and Mikhail Fridman, three weeks after the European Union lifted its sanctions on them.
South African billionaire Piet Mouton rescues TV thriller after its funder pulled out
Piet Mouton, son of PSG founder Jannie Mouton, funded M-Net thriller Invisible after a backer failed to pay mid-shoot, and lent his house too.
Egyptian billionaire Yasseen Mansour lifts Palm Hills stake as his son takes shares
Egyptian billionaire Yasseen Mansour’s reported stake in Palm Hills Developments increased to 14.11%, while a shareholder disclosure listed his son with 3 million shares.
South Africa's wealthy Sacco family accuses billionaire Patrice Motsepe's ARM of power grab
Assore, the mining house controlled by South Africa's Sacco family, says Patrice Motsepe's ARM has taken powers it lacks at their shared mining venture.
U.S. billionaire Jay-Z in betting race with Miley Cyrus for Super Bowl halftime
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Reese Witherspoon buys back Hello Sunshine at a steep discount
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Zimbabwean billionaire Kudakwashe Tagwirei joins ruling party's top body days after cabinet post
Kudakwashe Tagwirei, the US-sanctioned tycoon seen as President Mnangagwa's preferred successor, has been given a seat in Zanu-PF's politburo, the party's top decision-making body.
Indian billionaire Sunil Mittal's Airtel Money shares fall 7.5% below IPO price in London trading
Airtel Money shares fell to 181.28 pence in early trading on October 14, below the £1.96 IPO price that valued Sunil Mittal's African payments business at $7 billion.
South African billionaire Johann Rupert's Richemont in talks to join De Beers bid
Swiss luxury group Richemont is discussing joining a consortium seeking to acquire De Beers, a move that could give Johann Rupert's company greater control over its diamond supply chain.
Australian billionaire James Packer's AI bet in doubt after $30 billion IPO flop
James Packer backed Firmus Technologies when the AI data centre company was valued at $5.5 billion. After its proposed A$44 billion stock market debut collapsed, the company is looking to private investors for its next phase of growth.
American billionaire Scott Shleifer gives $20 million to the University of Pennsylvania
Scott Shleifer, the billionaire who built Tiger Global's private equity arm, and his wife have pledged $20 million to Penn for student aid.
Indian billionaire Gautam Adani says clean energy must be affordable
Gautam Adani says decarbonisation cannot price out ordinary citizens after meeting Michael Bloomberg at the Bloomberg New Economy Forum in New Delhi.
Indian-Canadian billionaire Prem Watsa plans to combine IDBI Bank, Digit Insurance and IIFL Capital
Prem Watsa is planning a financial services group spanning banking, insurance and wealth management after Fairfax received approval to acquire a 60.72% stake in India's IDBI Bank for 528.78 billion rupees.
British billionaire Chris Dawson joins the race to buy struggling Poundland
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