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Moroccan billionaire Moulay Hafid Elalamy now holds 12.5% of Teleperformance
Moulay Hafid Elalamy has closed the €355 million derivative he used to build a stake in Teleperformance, and holds about 12.5% of the CAC 40 group.
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Britain's richest woman Denise Coates paid herself £104 million and is now cutting 340 Bet365 jobs
Bet365 will cut about 340 jobs across Stoke, Gibraltar and Malta after tax on online casinos rose from 21% to 40% under Rachel Reeves.
There are only 23 crypto billionaires in the world and nine of them made it on Bitcoin
Henley & Partners counts 135,694 crypto millionaires and just 23 crypto billionaires worldwide, with Bitcoin 38% below its October 2025 peak.
Nigerian billionaire TY Danjuma's British family office made £308,000 and shut its London hotel
TY Danjuma's British family office returned to profit with £308,000 and closed the hotel Bloomberg used to illustrate his $1.2 billion fortune.
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The Inside Story: The Rule-Maker — How Jean Kacou Diagou Co-Wrote Africa's Insurance Rulebook, Then Built NSIA Into a 12-Country Empire in the Market He Regulated
Jean Kacou Diagou helped write the insurance rulebook for 14 African countries — then quit to compete in the market he'd regulated. From a €457,000 start in 1995 he built NSIA into a 12-country bank-insurance group. This week he pruned it, exiting Nigerian life insurance.
Deep-Dive Report: The Last Empire — Inside the €7 Billion Castel Group, Africa's Biggest Brewer, and the Family War Now Headed to a Singapore Court
The Castel Group is Africa's biggest brewer outside South Africa, sells ~€7 billion a year, and almost no one has heard of it. Now the 99-year-old founder's heirs are at war with the CEO he installed — fought inside a Singapore trust, headed for a courtroom this autumn.
Wealth Intelligence: The Index Effect — Why Nigeria's Return to FTSE's Frontier Index Rewards Dangote and First HoldCo but Leaves Out BUA, UBA and Seplat
Nigeria rejoins FTSE's frontier index on Sept 21, sending global passive capital to ten giants — Dangote Cement, First HoldCo, MTN. But BUA, UBA and Seplat were left out on free float, not size. The paradox: the concentration that makes these owners rich keeps their companies out.
Moroccan billionaire Moulay Hafid Elalamy now holds 12.5% of Teleperformance
Moulay Hafid Elalamy has closed the €355 million derivative he used to build a stake in Teleperformance, and holds about 12.5% of the CAC 40 group.
Billionaire Naguib Sawiris's son backs $50 million platform to buy Egypt's heritage brands
Onsi Naguib Sawiris has put money behind a new vehicle buying culture-rooted Egyptian brands. Creative Investments Holding has secured $20 million at first close toward a $50 million target, with an Egyptian state SME agency sitting on the same cap table.
Egyptian tycoon Medhat Mohamed Khalil abandons sale of Raya Foods to Helios
Medhat Khalil's Raya Holding cancelled the sale of Raya Foods to Helios after conditions went unmet, eight months after board approval.
Egyptian shipping tycoon Ahmed Tarek Khalil sells his entire Ajwa stake for $6 million
Ahmed Tarek Khalil sold 8.34% of Ajwa for Food Industries Egypt for EGP 301.65 million, about $6 million, exiting the edible oils maker entirely.
Billionaire Naguib Sawiris wants to run some of Egypt's airports
Orascom Investment is forming a consortium with a global airport operator to bid for some of the 11 Egyptian airports going to private hands.
Egyptian billionaire Samih Sawiris is spending €200 million on a resort Morocco never finished
Samih Sawiris wants to recreate El Gouna on Morocco's Atlantic coast, starting with 800 rooms in a €200 million first phase at Mogador-Essaouira.
Egyptian healthcare tycoon Hend El Sherbini borrows $60 million to take her company private
Riyada Managers lent Hena Holdings $60 million to fund the buyout of Integrated Diagnostics, the lab group Hend El Sherbini's mother founded.
Swvl raises $13m from Naguib Sawiris-backed Coefficient for US push
Four years after a $1.5bn SPAC listing that unravelled, Egypt's Swvl has raised $13 million led by Coefficient LP, the Houston firm backed by the Sawiris family — funding a US push and a new lending product for transport operators.
Nigerian billionaire Folorunsho Alakija's FAMFA Oil faces a $6.7 million customs demand
An investigation says FAMFA Oil kept three Bombardier jets worth close to $200 million in Nigeria for over a decade on faulty import papers.
Nigerian billionaire TY Danjuma's British family office made £308,000 and shut its London hotel
TY Danjuma's British family office returned to profit with £308,000 and closed the hotel Bloomberg used to illustrate his $1.2 billion fortune.
Nigerian billionaire Femi Otedola speaks on FirstHoldCo’s inclusion in FTSE Frontier 50 Index
FirstHoldCo has joined the FTSE Frontier 50 index, with chairman Femi Otedola calling it a defining milestone for the banking group.
Aliko Dangote's refinery made $1.82 billion net profit in H1
Dangote Petroleum Refinery reported $1.82 billion of net income and $2.60 billion of EBITDA in the first half of 2026, ahead of its IPO.
5 Nigerian billionaires hold a quarter of Aradel Holdings, worth $1.1 billion
Samuel Dossou-Aworet, Fola Adeola and Ladi Jadesimi hold Aradel stakes worth $556 million, $250 million and $239 million between them.
The oil tycoon who bought Equinor's Nigerian business is in prison over a $1.5 million dispute
The family of Chappal Energies CEO Ufoma Immanuel has petitioned President Tinubu, alleging he was handcuffed to a hospital bed in detention.
Aliko Dangote and investment banks sign Africa's biggest IPO, minimum subscription set at $3.97
Aliko Dangote signed IPO documents in Lagos on Monday. The offer runs Sept. 14 to Oct. 13, selling 4.1 billion shares at N525 each.
FirstHoldCo and Dangote Cement, controlled by Forbes-ranked billionaires, join the FTSE Frontier 50
FirstHoldCo and Dangote Cement join the FTSE Frontier 50, a far more selective index than the broader series 10 Nigerian firms entered.
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.
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
Billionaire Patrice Motsepe’s phosphate mine hits trouble after $160 million investment
Billionaire Patrice Motsepe’s phosphate mine is under pressure as Kropz restructures its Elandsfontein operation after $160 million of investment.
South African gaming tycoon Martin Moshal gave $7.4m to four SA parties
Martin Moshal built his fortune on online gambling and lives in Sydney. He is the largest donor to ActionSA and BOSA, second-largest to the DA. Asked about a gambling ban, one party declined to comment and another declined to answer.
Inside Lebashe, the South African group sitting on $2.5 billion of Capitec shares it borrowed to buy
Lebashe holds 8.5 million Capitec shares worth R39.6 billion, pledged to two banks as security for the loans that bought them.
Angolan food magnate Nelson Carrinho to buy $452 million Banco de Fomento Angola stake
Angolan food and agriculture magnate Nelson Carrinho has agreed, through Congolian Financial, to buy Banco BPI's entire 33.35 percent stake in Banco de Fomento Angola for $452 million. The deal would end a 30-year Portuguese presence and deepen questions about banking concentration.
Ben Magara's Exxaro is buying Anglo American's half of an Australian mine to sell the lot
Exxaro Resources will buy out Anglo American's half of the Moranbah South coking coal project in Queensland, then sell the entire asset to Australia's Stanmore Resources for $105 million, exiting its only offshore mining interest.
South African property developer Brett Abrahamse is bringing Hilton into Zimbabwe for the first time
Hilton will open its first Zimbabwe hotel in 2029 with Terrace Africa, the Harare developer South African Brett Abrahamse founded at 28.
South African billionaire Sandile Zungu faces long odds in next week's SAFA election
Sandile Zungu goes into the Sept. 12 SAFA election with 12 regions behind him against 36 for Danny Jordaan, a source says.
South African billionaire Michiel le Roux has given the DA $13 million in five years
Capitec founder Michiel le Roux has donated $13 million to the Democratic Alliance over five years, the largest sum from any individual donor.
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
Mohammed Al-Amoudi's MIDROC Ethiopia has signed an $80 million IFC loan to refurbish the Sheraton Addis and build a second Sheraton hotel in Addis Ababa.
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.
Latest Posts
Moroccan billionaire Moulay Hafid Elalamy now holds 12.5% of Teleperformance
Moulay Hafid Elalamy has closed the €355 million derivative he used to build a stake in Teleperformance, and holds about 12.5% of the CAC 40 group.
Britain's richest woman Denise Coates paid herself £104 million and is now cutting 340 Bet365 jobs
Bet365 will cut about 340 jobs across Stoke, Gibraltar and Malta after tax on online casinos rose from 21% to 40% under Rachel Reeves.
Billionaire Tim Draper ignores Tanzanian government, fields offers for private island
Tim Draper says offers are coming in for his $7.9 million Lake Tanganyika island, days after Tanzania said the land belongs to the state.
Nigerian billionaire Folorunsho Alakija's FAMFA Oil faces a $6.7 million customs demand
An investigation says FAMFA Oil kept three Bombardier jets worth close to $200 million in Nigeria for over a decade on faulty import papers.
Billionaire Naguib Sawiris's son backs $50 million platform to buy Egypt's heritage brands
Onsi Naguib Sawiris has put money behind a new vehicle buying culture-rooted Egyptian brands. Creative Investments Holding has secured $20 million at first close toward a $50 million target, with an Egyptian state SME agency sitting on the same cap table.
U.S.-Nigerian mogul Sam Darwish to receive $115 million as MTN buys out IHS Towers
Sam Darwish built IHS Towers from a Nigerian start-up into the world's third-largest independent tower operator. MTN's takeover at $8.50 a share would convert his 13.5 million shares into about $115 million in cash.
Italian billionaire John Elkann to sell $1.2bn Iveco stake to Tata Motors
Exor is selling out of the truck business. John Elkann's Agnelli family holding company will tender its 27.06 percent of Italy's Iveco into a takeover by India's Tata Motors, a stake worth about $1.2 billion.
There are only 23 crypto billionaires in the world and nine of them made it on Bitcoin
Henley & Partners counts 135,694 crypto millionaires and just 23 crypto billionaires worldwide, with Bitcoin 38% below its October 2025 peak.
Coinbase's billionaire founder Brian Armstrong says philanthropy is 'net negative'
Brian Armstrong is worth around $9 billion and will not start a foundation. Charities get "captured by ideology," he says, and philanthropy is often image repair, naming Bill Gates, whose foundation is among Africa's largest health funders.
Billionaire Sky Xu's Shein stake falls to $6.3bn a week after listing
Shein's shares closed 19 percent below their offer price after five sessions, the second-worst start among billion-dollar Hong Kong listings. On Bloomberg's estimate of his holding, founder Sky Xu's stake has fallen to about $6.3 billion from more than $23 billion at the company's peak.
Nigerian billionaire TY Danjuma's British family office made £308,000 and shut its London hotel
TY Danjuma's British family office returned to profit with £308,000 and closed the hotel Bloomberg used to illustrate his $1.2 billion fortune.
Billionaire Patrice Motsepe’s phosphate mine hits trouble after $160 million investment
Billionaire Patrice Motsepe’s phosphate mine is under pressure as Kropz restructures its Elandsfontein operation after $160 million of investment.
Billionaire Baba Danpullo takes 10% stake in AGL Cameroon
Billionaire Baba Danpullo has taken a 10% stake in AGL Cameroon through CCML, gaining a significant interest in the MSC-controlled logistics business.
Billionaire Chris Rokos quits the UK for Greece's flat tax
Chris Rokos paid £330m in UK tax last year, more than almost anyone. He is moving to Greece, where wealthy foreigners pay a flat €100,000 on all overseas income. Egypt's Nassef Sawiris made the same calculation two years earlier.
Paul Obambi bought a removals company for nothing and built a $1 billion Congolese empire
Paul Obambi grew up barefoot in Brazzaville's Poto-poto neighborhood, bought a removals company in 1990, sold it and built Sapro Group into Congo's most diversified private empire across 11 countries.
South African gaming tycoon Martin Moshal gave $7.4m to four SA parties
Martin Moshal built his fortune on online gambling and lives in Sydney. He is the largest donor to ActionSA and BOSA, second-largest to the DA. Asked about a gambling ban, one party declined to comment and another declined to answer.
