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Nigerian billionaire Aliko Dangote's Dangote Cement scraps $1 billion London listing
Nigerian billionaire Aliko Dangote has shelved Dangote Cement’s planned $1 billion London listing, citing market conditions, in a setback for the London Stock Exchange.
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Nigerian oil tycoon Austin Avuru's Seplat stake climbs to $586 million
Seplat Energy co-founder Augustine Avuru's 8.3% stake has climbed to ₦800.31 billion after the Nigerian oil producer's shares rose 175% this year.
Nigerian billionaire Aliko Dangote's $2.5 billion Namibia project is a gamechanger, PM says
Namibia's prime minister called Aliko Dangote's $2.5 billion Walvis Bay fuel project a gamechanger as the Nigerian billionaire lifted his Africa plan to $65 billion.
South African tycoon Stephen Saad's Aspen stake climbs to $599 million
Aspen Pharmacare co-founder Stephen Saad's 13% stake has climbed to R9.94 billion as analysts lift their average price target on the drugmaker to R175.
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The Inside Story: The Planter — How Jean-Louis Billon Took Over His Father's SIFCA, Ran for President and Is Turning Palm Waste Into Power
Jean-Louis Billon took over the agribusiness group his father founded in 1964, served as trade minister and finished second in last year's presidential race. This week SIFCA opened a $256 million biomass plant. The story of the planter, his family's business and its tests.
Deep-Dive Report: After the Record IPO — Dangote's Refinery at 84%, the Crude It Needs, the Cost of Capital and What Happens When Trading Starts
Dangote's refinery IPO drew ₦6.4 trillion of orders for ₦2.15 trillion of shares, and his stake will fall to about 84%. Only about 3% of the company will trade. A deep-dive on the allotment, the crude supply, the cost of capital and what to expect when trading starts in December.
Wealth Intelligence: Who Owns Africa's Banks — Founders, Families and the New Shareholders Reshaping the Continent's Lenders, From Capitec to Afriland
Michiel le Roux's Capitec stake is worth $3.9 billion. The Kenyattas now own part of Nedbank, Paul Fokam has doubled Afriland's capital and Nigeria's bank chairmen have been buying. A guide to who owns Africa's banks, how ownership is changing, and what it means for investors.
Egyptian fintech tycoon Mounir Nakhla’s MNT-Halan more than doubles quarterly profit to $16 million in first results since IPO
Mounir Nakhla’s MNT-Halan more than doubled quarterly profit to EGP 836 million ($16 million) in its first results since listing on the Egyptian Exchange.
Moroccan wine tycoon Rita Zniber faces stepson's forgery complaint over $1.5 million debt
A decade after Brahim Zniber's death, a son from his first marriage is pressing a forgery complaint over debt notes his widow Rita relies on.
Egyptian billionaire Hisham Talaat Moustafa's TMG named world's best golf hospitality developer
Hisham Talaat Moustafa's TMG took a top World Golf Awards prize at its own Madinaty club, which was also named Africa's best golf course.
Egyptian billionaire Nassef Sawiris's Orascom clears $1.3 billion share issue for OCI merger
Orascom Construction will issue 97.2 million new shares to OCI N.V., nearly doubling its share count as Nassef Sawiris folds the two companies together.
Egyptian tycoon Medhat Khalil's Raya signs three cloud and cybersecurity deals
Raya Holding, the Egyptian group founded by tycoon Medhat Khalil, signed three cloud and cybersecurity agreements with Nutanix, EgyHosting and Egex Consultant.
Morocco's royal holding Al Mada leads $12 million round in AI startup Journify
Al Mada Ventures, backed by the investment holding of Morocco's royal family, led a $12 million Series A in advertising data startup Journify.
Egypt’s richest man Nassef Sawiris wins 99.85% vote to merge OCI and Orascom
Egypt’s richest man won near-unanimous approval to fold OCI into Orascom Construction, creating an Abu Dhabi investment group he will chair.
Egyptian billionaire Nassef Sawiris' Aston Villa commits to Unai Emery beyond 2029
Egyptian billionaire Nassef Sawiris's Aston Villa says it has a clear commitment from manager Unai Emery beyond 2029, after interest from Manchester United.
Nigerian billionaire Aliko Dangote's Dangote Cement scraps $1 billion London listing
Nigerian billionaire Aliko Dangote has shelved Dangote Cement’s planned $1 billion London listing, citing market conditions, in a setback for the London Stock Exchange.
Nigerian oil tycoon Austin Avuru's Seplat stake climbs to $586 million
Seplat Energy co-founder Augustine Avuru's 8.3% stake has climbed to ₦800.31 billion after the Nigerian oil producer's shares rose 175% this year.
Nigerian billionaire Aliko Dangote's $2.5 billion Namibia project is a gamechanger, PM says
Namibia's prime minister called Aliko Dangote's $2.5 billion Walvis Bay fuel project a gamechanger as the Nigerian billionaire lifted his Africa plan to $65 billion.
Nigerian billionaire Aliko Dangote's refinery ships 208,000 tons of petrol in eight days
Nigerian billionaire Aliko Dangote's refinery exported at least 208,000 metric tons of petrol in five cargoes over eight days, mostly to West Africa.
Nigerian billionaire Aliko Dangote gains $1.4 billion as Dangote Cement jumps 9.6%
Dangote Cement jumped 9.6% in Lagos on Monday, adding $1.4 billion to Aliko Dangote's stake and driving most of a ₦2.32 trillion market rebound.
Nigerian banker Aigboje Aig-Imoukhuede's Access Holdings weighs sale of troubled foreign unit
Access Holdings chairman Aigboje Aig-Imoukhuede says the Nigerian lender has one troublesome foreign subsidiary it may exit to meet central bank capital rules.
Nigerian tycoon Wale Babalakin gives up $97 million to end Lagos airport feud
Bi-Courtney, controlled by lawyer and tycoon Wale Babalakin, waived a ₦132 billion court award to settle its long fight over Lagos airport's MMA2 terminal.
Nigerian tycoon Tayo Amusan's $100 million Lagos arena opening slips two years
The $100 million Lagos Arena, led by Persianas Group founder Tayo Amusan and backed by Live Nation, may not open until 2028.
Absa exits Kenyan insurance as wealthy politician Musalia Mudavadi’s firm takes full control of two insurers
Absa has completed its exit from Kenyan insurance, handing two insurers to a firm majority owned by wealthy politician Musalia Mudavadi, which will rebrand them.
Kenya's wealthy Kinuthia family sees Quickmart IPO oversubscribed with $142 million in bids
Investors bid Sh18.4 billion for Quickmart's Sh15 billion share sale, securing a $37 million payout for the Kinuthia family that founded the chain.
Kenyan billionaire Narendra Raval’s $539 million Kitui cement plant to create 4,000 jobs
Kenyan President William Ruto valued Narendra Raval’s Kitui cement plant at Sh70 billion ($539 million) and said it will create 4,000 jobs.
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
Narendra Raval's West Pokot plant and Edha Nahdi's Kwale project commit roughly Sh77 billion ($600m) to clinker, the input East Africa has always imported. Now Sarbjit Singh Rai has filed for a third plant in Nyeri.
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.
South African billionaire Christo Wiese pushes through $10.2 million Shoprite CEO incentive despite pension fund revolt
South African billionaire Christo Wiese’s deferred shares carried a $10.2 million Shoprite CEO incentive plan that nearly half of ordinary shareholders opposed.
South African fintech Yoco, co-founded by tycoon Katlego Maphai, secures $100 million credit line
South African fintech Yoco, co-founded by Katlego Maphai, has secured a $100 million credit facility from Victory Park to fund cash advances to small businesses.
South African tycoon Stephen Saad's Aspen stake climbs to $599 million
Aspen Pharmacare co-founder Stephen Saad's 13% stake has climbed to R9.94 billion as analysts lift their average price target on the drugmaker to R175.
South African billionaire Christo Wiese's Virgin Active buys German gyms for $151 million
Virgin Active, the gym chain controlled by Christo Wiese's Brait, is paying €135 million for Holmes Place Germany and its 84,100 members.
South African billionaire Patrice Motsepe's ARM stake rises to $858 million
A 4.8% jump in African Rainbow Minerals on Monday lifted Patrice Motsepe's stake in the diversified miner to about R14.2 billion ($858 million).
South African billionaire Johann Rupert tells farmers he can't make money farming
Johann Rupert, owner of L'Ormarins wine estate, told a Commonwealth farming conference attended by Princess Anne that he doesn't know how to profit from farming.
South African billionaire Johann Rupert's Richemont eyes De Beers as Botswana doubles stake
Botswana will raise its De Beers stake to 30% and back the Gareth Penny-led consortium that Johann Rupert's Richemont is in talks to join.
South African billionaire Christo Wiese’s Shoprite agrees banking partnership with Investec
Shoprite, backed by South African billionaire Christo Wiese, has agreed a banking partnership with Investec to expand its financial services offering and introduce a new transactional account with a debit card.
Billionaire Mohammed Al-Amoudi to build stadium for Ethiopia's most successful football club
MIDROC, owned by Saudi-Ethiopian billionaire Mohammed Al-Amoudi, will fund a new stadium for Saint George, as sponsors pledge more than $3.1 million a season.
Ethiopian billionaire Mohammed Al-Amoudi's Nyala Insurance tops $6 million in profit
Nyala Insurance, the Ethiopian insurer co-founded by billionaire Mohammed Al-Amoudi, says annual profit passed 1 billion birr as paid-up capital topped 2 billion birr.
Somali tycoon Abdirashid Duale's Dahabshiil to sell Chinese carmaker Chery's cars in Somalia
Dahabshiil Motors, the car arm of Abdirashid Duale's Dahabshiil Group, has signed a deal to become an authorized dealer for China's Chery in Somalia.
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.
Latest Posts
South African billionaire Christo Wiese pushes through $10.2 million Shoprite CEO incentive despite pension fund revolt
South African billionaire Christo Wiese’s deferred shares carried a $10.2 million Shoprite CEO incentive plan that nearly half of ordinary shareholders opposed.
Egyptian billionaire Ahmed Ezz’s Ezz Steel hit by 30% gas cut as $120 million LNG cargoes squeeze Egypt
Egyptian billionaire Ahmed Ezz’s Ezz Steel faces a 30% cut in gas supplies as soaring LNG costs force Cairo to ration fuel to heavy industry.
Egyptian fintech tycoon Mounir Nakhla’s MNT-Halan more than doubles quarterly profit to $16 million in first results since IPO
Mounir Nakhla’s MNT-Halan more than doubled quarterly profit to EGP 836 million ($16 million) in its first results since listing on the Egyptian Exchange.
South African fintech Yoco, co-founded by tycoon Katlego Maphai, secures $100 million credit line
South African fintech Yoco, co-founded by Katlego Maphai, has secured a $100 million credit facility from Victory Park to fund cash advances to small businesses.
Nigerian billionaire Aliko Dangote's Dangote Cement scraps $1 billion London listing
Nigerian billionaire Aliko Dangote has shelved Dangote Cement’s planned $1 billion London listing, citing market conditions, in a setback for the London Stock Exchange.
Nigerian oil tycoon Austin Avuru's Seplat stake climbs to $586 million
Seplat Energy co-founder Augustine Avuru's 8.3% stake has climbed to ₦800.31 billion after the Nigerian oil producer's shares rose 175% this year.
Mauritian tycoon Arnaud Lagesse's Naivas lifts profit 41.7% to $26 million
Mauritian tycoon Arnaud Lagesse’s Naivas grew net profit 41.7% to KSh3.37 billion in the year to June 2026, ahead of rival Quickmart’s listing.
Nigerian billionaire Aliko Dangote's $2.5 billion Namibia project is a gamechanger, PM says
Namibia's prime minister called Aliko Dangote's $2.5 billion Walvis Bay fuel project a gamechanger as the Nigerian billionaire lifted his Africa plan to $65 billion.
Absa exits Kenyan insurance as wealthy politician Musalia Mudavadi’s firm takes full control of two insurers
Absa has completed its exit from Kenyan insurance, handing two insurers to a firm majority owned by wealthy politician Musalia Mudavadi, which will rebrand them.
South African tycoon Stephen Saad's Aspen stake climbs to $599 million
Aspen Pharmacare co-founder Stephen Saad's 13% stake has climbed to R9.94 billion as analysts lift their average price target on the drugmaker to R175.
South African billionaire Christo Wiese's Virgin Active buys German gyms for $151 million
Virgin Active, the gym chain controlled by Christo Wiese's Brait, is paying €135 million for Holmes Place Germany and its 84,100 members.
South African billionaire Patrice Motsepe’s Harmony Gold raises revenue to R22.3 billion despite 12% production decline
Harmony Gold, chaired by South African billionaire Patrice Motsepe, increased first quarter gold revenue to R22.3 billion as higher prices offset a 12% decline in production.
Nigerian billionaire Aliko Dangote's refinery ships 208,000 tons of petrol in eight days
Nigerian billionaire Aliko Dangote's refinery exported at least 208,000 metric tons of petrol in five cargoes over eight days, mostly to West Africa.
South African billionaire Patrice Motsepe's ARM stake rises to $858 million
A 4.8% jump in African Rainbow Minerals on Monday lifted Patrice Motsepe's stake in the diversified miner to about R14.2 billion ($858 million).
Nigerian billionaire Aliko Dangote gains $1.4 billion as Dangote Cement jumps 9.6%
Dangote Cement jumped 9.6% in Lagos on Monday, adding $1.4 billion to Aliko Dangote's stake and driving most of a ₦2.32 trillion market rebound.
Japanese billionaire Masayoshi Son's SoftBank commits $1 billion to Malaysia AI push
Japanese billionaire Masayoshi Son's SoftBank will put $1 billion into two Malaysian AI infrastructure projects with Grab and Sarawak's state oil company.
