Featured
Kenyan billionaire Mohamed Jaffer just locked up Mombasa's grain monopoly for another 20 years
Kenya tycoon Mohamed Jaffer has secured a 20-year lease renewal at the Port of Mombasa, extending his monopoly grip on bulk grain imports into East Africa.
Editors' Picks
Congolese billionaire Paul Obambi wants a century-old price tool back to fix Brazzaville's market chaos
Brazzaville Chamber of Commerce president Paul Obambi is demanding the revival of a century-old price reference tool to end market speculation in Congo.
Kenyan billionaire Humphrey Kariuki takes Africa's Great Blue Wall push to Monaco
Kenyan billionaire Humphrey Kariuki used a major Monaco ocean forum to call for scaled investment in Africa's Great Blue Wall marine conservation initiative.
Kenyan billionaire Mohamed Jaffer just locked up Mombasa's grain monopoly for another 20 years
Kenya tycoon Mohamed Jaffer has secured a 20-year lease renewal at the Port of Mombasa, extending his monopoly grip on bulk grain imports into East Africa.
Exclusive Content For Paid Supporters
The Inside Story: The $100 Million Handshake
On May 20, two men who have been friends for 25 years stood on the same refinery jetty. One is preparing to sell a slice of the future. The other is buying in.
Executive Insight: Five Moves That Matter on the Continent
A cross-continent read on the capital decisions reshaping African wealth this week.
Wealth Intelligence: The $50 Billion Question at the Dangote Refinery
Inside the Dangote Refinery listing and what a public valuation does to Africa’s largest private fortune.
More than 200 Mohamed Al Fayed survivors will meet Keir Starmer today. Some are already tempering their expectations
More than 200 survivors of Mohamed Al Fayed's alleged sexual abuse are meeting UK Prime Minister Keir Starmer on June 3 in what groups describe as the first time a sitting prime minister has engaged directly with survivors tied to a single institution.
Harrods goes to court to replace executors of Mohamed Al Fayed's estate over solvency fears
Harrods has launched legal action to replace the executors of Mohamed Al Fayed's estate, citing solvency concerns and fears that abuse victims will not be compensated.
Egyptian billionaire Hisham Talaat Moustafa's TMG wins Iraqi investment licence for $18.8 billion Baghdad mega-city project
Egypt's Talaat Moustafa Group has secured a formal Iraqi investment licence to develop an $18.8 billion integrated city in southwest Baghdad.
Egyptian tycoon Safwan Thabet's Juhayna Food doubles first-quarter profit to $13.6 million on surging sales
Egypt's Juhayna Food Industries more than doubled its first-quarter net profit in 2026 as revenue climbed sharply across dairy and juice segments.
Mohamed Al-Fayed's abuse survivors temper expectations ahead of their first meeting with UK PM Starmer
Survivors of Mohamed Al Fayed's abuse are preparing to meet UK Prime Minister Keir Starmer while tempering expectations, as the Met Police investigation now involves 154 complainants and four suspects.
Egyptian billionaire Naguib Sawiris sold Euronews to a firm now buying Serbia's last independent media
Alpac Capital, which bought Euronews from Egyptian billionaire Naguib Sawiris in 2021, is now acquiring Serbia's last independent media outlets N1 and Nova S for 30 million euros.
Algeria's prosecutors demand 16 more years in prison for jailed auto mogul Mahieddine Tahkout over Swiss fortune
Algeria's prosecutors demanded a fresh 16-year prison sentence for jailed Cima Motors mogul Mahieddine Tahkout over €1.17 billion allegedly hidden in Swiss bank accounts and French property.
Egyptian dairy tycoon Safwan Thabet at war with Qatari shareholder Baladna over Juhayna stake
Egypt's Juhayna Food Industries has locked out Baladna, its Qatari second-largest shareholder with over 15% of the company, in a fresh ownership dispute at the country's biggest dairy producer.
Congolese billionaire Paul Obambi wants a century-old price tool back to fix Brazzaville's market chaos
Brazzaville Chamber of Commerce president Paul Obambi is demanding the revival of a century-old price reference tool to end market speculation in Congo.
Ghanaian Civil society backs tycoon Ibrahim Mahama's Damang mine takeover as legal and governance questions mount
A Ghanaian civil society group has backed Ibrahim Mahama's Engineers and Planners over the Damang Mine takeover as governance questions and a legal battle continue to escalate.
Nigerian lawmakers reject move to break up Tompolo's Tantita pipeline contract
Nigerian lawmakers and Niger Delta stakeholders have formally rejected calls to decentralise Tompolo's Tantita pipeline surveillance contract, backing a long-term extension instead.
Tycoon Tony Elumelu's Heirs Insurance hits two million customers, ranks among Africa's fastest-growing companies in 5 years
Tony Elumelu's Heirs Insurance Group has reached two million customers and ranked seventh on the Financial Times Africa fastest-growing companies list for 2026.
Nigerian cement billionaires win big as Dangote, BUA and Lafarge post $554 million in combined Q1 profits
Nigeria's three biggest cement producers posted a combined N762.97 billion in first-quarter profits in 2026, a 57 percent jump driven by elevated cement prices.
Africa's richest man Aliko Dangote is now the world's biggest jet fuel exporter
Aliko Dangote's 650,000 barrel-per-day refinery became the world's single largest jet fuel exporter in April, capitalising on Middle East supply disruptions to reshape global energy trade.
Ghana liquor tycoon Kwabena Adjei's Kasapreko closes IPO, set to list June 17
Kasapreko PLC has closed its GH¢700 million IPO on the Ghana Stock Exchange, with investors now waiting on allotment results ahead of a June 17 listing.
Moise Katumbi: Congolese billionaire, football club owner and Africa's most tenacious presidential contender
Moise Katumbi built the DRC's biggest private fortune from fish and copper before spending a decade trying to take the country's highest office.
Kenyan billionaire Humphrey Kariuki takes Africa's Great Blue Wall push to Monaco
Kenyan billionaire Humphrey Kariuki used a major Monaco ocean forum to call for scaled investment in Africa's Great Blue Wall marine conservation initiative.
Kenyan billionaire Mohamed Jaffer just locked up Mombasa's grain monopoly for another 20 years
Kenya tycoon Mohamed Jaffer has secured a 20-year lease renewal at the Port of Mombasa, extending his monopoly grip on bulk grain imports into East Africa.
James Mwangi's Equity Group signs landmark ITC deal to unlock trade finance for East Africa's coffee, leather and creative sectors
Equity Group and the International Trade Centre have signed a partnership to unlock trade finance for East African small businesses in coffee, leather and creative industries.
Uganda's Quality Chemical posts record $15.3 million profit as new manufacturing plant takes shape
Uganda's Quality Chemical Industries has posted record full-year earnings of Shs 56.4 billion as the pharmaceutical manufacturer accelerates a major capacity expansion.
Kenyan advertising mogul Bharat Thakrar takes his WPP Scangroup board battle to shareholders at June 8 AGM
Scangroup founder Bharat Thakrar is heading into a shareholder showdown on June 8 to remove the entire board of WPP Scangroup over five years of losses.
Uganda clears Absa takeover of Standard Chartered's retail and wealth banking business
The Bank of Uganda has approved Absa Bank Uganda's takeover of Standard Chartered's retail and wealth banking operations in the country.
Benjamin Fernandes built NALA until it broke under its own growth. A $50 million credit line is how he fixes that
Benjamin Fernandes's NALA has secured a $50 million non-dilutive credit facility from Liquidity and MUFG Bank to pre-fund stablecoin cross-border payment corridors as enterprise demand from US, European and African businesses accelerates sharply.
Nedbank's NCBA offer window opens and billionaire Muhoho Kenyatta stands to book a 20% gain on his $154 million stake
Nedbank's NCBA buyout offer opened May 29 at Sh105, offering shareholders a 20.3% gain above NSE prices. Muhoho Kenyatta stands to be the biggest individual winner.
South African Tech billionaire Mark Shuttleworth says Ubuntu 26.04 is built for the AI agentic era
Canonical's Mark Shuttleworth says Ubuntu 26.04 LTS is purpose-built for the AI agentic era, as the company announced a landmark partnership with NVIDIA at Computex 2026.
Katlego Maphai exits Yoco after a decade as South African fintech appoints European banker as its first outside CEO
South African payments fintech Yoco has handed the CEO role to an external executive for the first time in its 11-year history.
Stellenbosch FC fans ask billionaire owner Johann Rupert to spend more money on the club
Stellenbosch FC's birthday tribute to billionaire owner Johann Rupert prompted an immediate wave of fan debate over his level of investment in the club.
King Mswati III raised €12.8 million in a single day to rescue the 79-nation OACPS from financial collapse
King Mswati III raised €12.8 million in a single day at the OACPS Summit in Malabo, rescuing the 79-nation organisation from a financial crisis that threatened its existence.
Billionaire Sandile Zungu just won South Africa's lottery and a Madagascar nickel mine in the same year
Sandile Zungu started 2026 by acquiring a Madagascar nickel mine and ended it by taking over South Africa's national lottery in a remarkable double play.
Zim tycoon Ken Sharpe's WestProp installs 1MW solar plant at Millennium Heights in push to take Harare estates off the national grid
WestProp Holdings has commissioned a 1-megawatt solar car park at Millennium Heights in Harare as CEO Ken Sharpe accelerates a full off-grid energy strategy.
Russia's billionaires in Africa: Mines, money and the sanctions squeeze
Several Russian billionaires have built substantial business interests across Africa, spanning gold, diamonds, bauxite and manganese in multiple countries.
South African billionaire Magda Wierzycka warns the UK is no longer safe for global investors
South African billionaire and Sygnia CEO Magda Wierzycka has warned that the UK is losing its appeal as a destination for serious global investors.
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.
Somali tycoon Amina Moghe Hersi's Atiak Sugar Factory has eaten $204 million and produced nothing in years. Uganda is demanding answers.
Uganda's parliament is demanding answers after Amina Moghe Hersi's Atiak Sugar Factory consumed $204 million in public and private funds without producing sugar in years.
Saudi-Ethiopian Mohammed Al-Amoudi is worth $9 billion on Bloomberg but missing from the Forbes 2026 billionaires list and here is why
Mohammed Al-Amoudi is worth $9.12 billion on Bloomberg but does not appear on the Forbes 2026 billionaires list. Here is why.
How Djiboutian tycoon Abdourahman Boreh helped Dubai build a port empire in the Horn of Africa, then became its most inconvenient witness
Abdourahman Boreh brokered DP World's entry into Djibouti, collected fees from both sides, then fled into exile as the whole deal unravelled.
Dahabshiil founder Abdirashid Duale pledges $150,000 as drought deepens in northern Somalia
Dahabshiil pledged $150,000 for drought relief in northern Somalia, with founder Abdirashid Duale urging faster action as shortages spread.
Ethiopia’s richest man Mohammed Al-Amoudi brings Carrefour into Ethiopia
Ethiopia’s richest man, Mohammed Al-Amoudi, brings Carrefour to 13 Midroc stores, marking the retailer’s first physical presence in Ethiopia.
Ethiopia’s richest man Mohammed Al-Amoudi sees wealth rebound past $8.1 billion
Mohammed Al-Amoudi’s net worth rebounds to more than $8.1 billion after a $2.42 billion gain tied to his stake in Preem.
Somali e-visa controversy: Ismail Ahmed points to Premier Bank involvement
Ismail Ahmed claims Premier Bank helped design Somalia’s e-visa system and benefits from visa fees through Empire Tech Solutions.
Latest Posts
NESTOIL LIMITED – in receivership receiver/manager’s press release
Nigeria's court-appointed receiver says the Supreme Court ruling does not end the receivership over Nestoil and Neconde Energy, warning the public against unauthorised dealings.
Congolese billionaire Paul Obambi wants a century-old price tool back to fix Brazzaville's market chaos
Brazzaville Chamber of Commerce president Paul Obambi is demanding the revival of a century-old price reference tool to end market speculation in Congo.
Kenyan billionaire Humphrey Kariuki takes Africa's Great Blue Wall push to Monaco
Kenyan billionaire Humphrey Kariuki used a major Monaco ocean forum to call for scaled investment in Africa's Great Blue Wall marine conservation initiative.
Kenyan billionaire Mohamed Jaffer just locked up Mombasa's grain monopoly for another 20 years
Kenya tycoon Mohamed Jaffer has secured a 20-year lease renewal at the Port of Mombasa, extending his monopoly grip on bulk grain imports into East Africa.
South African Tech billionaire Mark Shuttleworth says Ubuntu 26.04 is built for the AI agentic era
Canonical's Mark Shuttleworth says Ubuntu 26.04 LTS is purpose-built for the AI agentic era, as the company announced a landmark partnership with NVIDIA at Computex 2026.
Vincent Bolloré sold his African ports empire for €5.7 billion. African communities are now going after every bank that helped him do it
A coalition of African NGOs is pursuing Morgan Stanley, HSBC, Société Générale and Crédit Mutuel over their roles in Vincent Bolloré's €5.7 billion sale of his African ports empire to MSC, alleging the transaction laundered proceeds of corruption.
Katlego Maphai exits Yoco after a decade as South African fintech appoints European banker as its first outside CEO
South African payments fintech Yoco has handed the CEO role to an external executive for the first time in its 11-year history.
More than 200 Mohamed Al Fayed survivors will meet Keir Starmer today. Some are already tempering their expectations
More than 200 survivors of Mohamed Al Fayed's alleged sexual abuse are meeting UK Prime Minister Keir Starmer on June 3 in what groups describe as the first time a sitting prime minister has engaged directly with survivors tied to a single institution.
African Wealth Briefing — Wed., June 3, 2026
Jim Ovia's Zenith Bank stake climbs to $643 million as the naira firms. Ghana's Kasapreko closes its GH¢700 million IPO ahead of a June 17 listing.
LeBron James is about to hit free agency and his $1.4 billion empire is what's really at stake
LeBron James has entered free agency and wherever he lands next, the bigger story is what happens to the $1.3 billion empire built around him.
Ghana sues Jospong founder Siaw Agyepong over $2 million claimed gap in a $178 million road contract
Ghana's Attorney-General has filed a lawsuit against Jospong founder Joseph Siaw Agyepong and his firm J.A. Plant Pool over a $2 million gap in a $178 million road contract.
Ghanaian Civil society backs tycoon Ibrahim Mahama's Damang mine takeover as legal and governance questions mount
A Ghanaian civil society group has backed Ibrahim Mahama's Engineers and Planners over the Damang Mine takeover as governance questions and a legal battle continue to escalate.
Stellenbosch FC fans ask billionaire owner Johann Rupert to spend more money on the club
Stellenbosch FC's birthday tribute to billionaire owner Johann Rupert prompted an immediate wave of fan debate over his level of investment in the club.
King Mswati III raised €12.8 million in a single day to rescue the 79-nation OACPS from financial collapse
King Mswati III raised €12.8 million in a single day at the OACPS Summit in Malabo, rescuing the 79-nation organisation from a financial crisis that threatened its existence.
Nigerian lawmakers reject move to break up Tompolo's Tantita pipeline contract
Nigerian lawmakers and Niger Delta stakeholders have formally rejected calls to decentralise Tompolo's Tantita pipeline surveillance contract, backing a long-term extension instead.
James Mwangi's Equity Group signs landmark ITC deal to unlock trade finance for East Africa's coffee, leather and creative sectors
Equity Group and the International Trade Centre have signed a partnership to unlock trade finance for East African small businesses in coffee, leather and creative industries.
