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Nigerian billionaire Oba Otudeko's Honeywell Group acquires 14% of Ikeja Hotel
Oba Otudeko's Honeywell Group has acquired a 14 percent stake in Ikeja Hotel Plc, valued at approximately N13.2 billion at current market prices.
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Haitian-born billionaire Herriot Tabuteau is worth $2.2 billion after Axsome stock doubles
Shares of Axsome Therapeutics have doubled in nine months, pushing the net worth of Haiti-born founder Herriot Tabuteau to $2.2 billion.
Heineken posts $1.9 million bank guarantee to freeze interest owed to Kenyan tycoon Ngugi Kiuna
The Dutch brewer secured a $1.9 million Equity Bank guarantee, halting disputed interest on the $11.3 million award owed to Ngugi Kiuna's Maxam.
Billionaire Rostam Aziz receives top Tanzania chamber of commerce award
Tanzania's chamber of commerce handed billionaire Rostam Azizi its highest award, citing his role in investment, job creation and growth.
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Wealth Intelligence: Ivan Saltzman — The Discount Dynasty
A single Johannesburg pharmacy became a $1.9 billion retailer and South Africa’s newest billion-dollar family fortune. Now, at 75, Ivan Saltzman is handing it over — and the handover is the real test.
Deep-Dive Report: Baba Ahmadou Danpullo — The All-In Bet
Francophone Africa’s richest man is staking nearly his entire ~$900 million fortune on an airline and two airports the state could not build.
The Inside Story: The Iron Lady’s Hardest Season
Cameroon’s richest woman built her country’s cocoa trade around a single partner. When Cargill walked away, Kate Fotso faced the worst season in three decades — and began to reinvent herself.
OCI board recommends billionaire Nassef Sawiris' EUR 4.10 takeover offer
OCI Global's board has formally recommended Nassef Sawiris' EUR 4.10 all-cash takeover offer and agreed to hold a shareholder vote on the proposed Orascom Construction merger.
Billionaire Ahmed El Sewedy's Elsewedy Electric launches a new generator range to power Egypt's industrial expansion
Ahmed El Sewedy's Elsewedy Electric has launched a new generator range spanning 9 to 2,750 kVA, expanding its power generation portfolio for Egypt's industrial and infrastructure sectors.
Egyptian billionaire Naguib Sawiris raises Giza pyramid investment to $40.6 million
Naguib Sawiris' Orascom Pyramids is raising its Giza plateau investment to $40.6 million by 2027, deepening the Egyptian billionaire's decade-long bet on Egypt's tourism transformation.
Egypt's Farida Khamis bet the family carpet fortune on a $680 million petrochemical plant
While her sister runs the world's largest carpet maker, Farida Khamis built Egypt's only integrated polypropylene producer and chairs a $680 million industrial bet.
Egyptian billionaire Naguib Sawiris met Syria's president in Damascus to resolve investments he lost under the Assad regime
Egyptian billionaire Naguib Sawiris has met Syria's new president in Damascus as he seeks to resolve outstanding financial claims in the country.
Egyptian fintech unicorn MNT-Halan could be Egypt's next major IPO
Egyptian fintech unicorn MNT-Halan is said to be worth up to $1 billion and is exploring a public listing that could make founder Mounir Nakhla one of Egypt's newest billionaires.
Egyptian billionaire Nassef Sawiris makes unsolicited bid to take chemical giant OCI Global private at EUR 4.10 per share
Egyptian billionaire Nassef Sawiris has launched an unsolicited all-cash offer of EUR 4.10 per share to take nitrogen producer OCI Global private and end a prolonged corporate impasse.
Algerian billionaire Abderrahmane Benhamadi's Condor just signed deals to sell electronics in Rwanda and Tanzania
Abderrahmane Benhamadi's Condor Electronics has signed export agreements to supply Algerian-made electronics and home appliances to Rwanda and Tanzania under the AfCFTA framework.
Nigeria awards $1.2 billion highway contract to Gilbert Chagoury, a billionaire convicted of laundering Abacha's stolen funds
Nigeria has approved a N1.7 trillion ($1.24 billion) Sokoto-Badagry highway contract for Gilbert Chagoury's Hitech Construction, owned by a billionaire convicted in 2000 of laundering Abacha's funds.
Ivorian billionaire Jean-Louis Billon's Sucrivoire is the BRVM's best-performing stock in 2026
Jean-Louis Billon's Sucrivoire has surged 190 percent on West Africa's BRVM exchange in 2026, making it the region's best-performing stock despite losing $11 million last year.
Ghanaian billionaire Ibrahim Mahama builds Damang water supply near mining community
Ghanaian billionaire Ibrahim Mahama has provided a new sustainable water supply system to the Damang community near his Engineers and Planners mining operations in Ghana.
Nigerian billionaire Femi Otedola recalls N200 million donation to father's scholarship
Femi Otedola has recalled his 2005 N200 million donation to his late father Sir Michael Otedola's scholarship scheme, when the award ceremony was chaired by then Lagos Governor Bola Tinubu.
Nigerian billionaire Oba Otudeko's Honeywell Group acquires 14% of Ikeja Hotel
Oba Otudeko's Honeywell Group has acquired a 14 percent stake in Ikeja Hotel Plc, valued at approximately N13.2 billion at current market prices.
Congo's national oil company is in talks with Aliko Dangote to secure refined fuel supply from his Lagos refinery
The Republic of Congo's national oil company has begun talks with Aliko Dangote's Lagos refinery on a strategic partnership to secure refined petroleum products.
Cameroon's richest man Baba Ahmadou Danpullo bets $850 million on new airline
Cameroonian billionaire Baba Ahmadou Danpullo is investing 500 billion FCFA, nearly his entire fortune, to launch a private airline and build two new airports in Cameroon.
Africa's richest man unveils plans for a 2,000-megawatt power plant, fertiliser complex and a new port in Tanzania
Aliko Dangote has unveiled plans for a 2,000-megawatt coal power plant, a urea fertiliser complex and new port infrastructure in Tanzania after meeting President Samia Suluhu.
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
Kenya signs $1.2 billion JKIA deal with China Road and Bridge; government says Chivayo firm did not bid
Chirchir stated that no Chivayo-linked company bid for the JKIA contract, naming China Road and Bridge Corporation as the signatory.
Family Bank founder Titus Muya and associates pocket $36.6 million paper gain as Kenyan lender surges 44% on NSE debut
Family Bank founder Titus Muya and his associates pocketed a $36.6 million paper gain as the Kenyan lender surged 44% on its NSE debut Tuesday.
Billionaire Rostam Aziz's Taifa Mining clears key hurdle at Tanzania gold project set for construction
Rostam Aziz's Taifa Mining has cleared a critical pre-construction drilling milestone at Lake Victoria Gold's fully permitted Imwelo gold project in Tanzania.
Tanzanian billionaire Edha Nahdi's cement bets pay off as EAPC profit jumps five-fold
Tanzanian tycoon Edhah Abdallah Munif's investments in Kenya's two biggest cement companies are already paying off handsomely, with both posting sharply improved financial results.
Madagascar tycoon Mamy Ravatomanga's security firm severs ties with France's Amarante International
A security firm formerly linked to Madagascar's Mamy Ravatomanga has broken with France's Amarante International as his Sodiat Group empire faces deepening judicial pressure.
Kenyan tycoon TK Muya's Family Bank wins regulatory approval for its long-awaited NSE listing
Family Bank has received Capital Markets Authority approval to list on the Nairobi Securities Exchange on June 23 after raising KES 8 billion ($61.8 million) in 2025.
Adil Popat's Simba Corp commits $7.7 million to Kenya electric vehicle assembly line
Adil Popat's Simba Corp is investing Sh1 billion ($7.7 million) in a dedicated electric vehicle assembly line at its Mombasa plant through subsidiary Associated Vehicle Assemblers.
South Africa's wealthy Levy brothers lose $97 million in ten months on Cell C woes
South African billionaire brothers Mark and Brett Levy have lost a combined R1.58 billion ($97.1 million) in ten months after the Cell C IPO disappointed investors.
South Africa rejects wealth tax in win for billionaires
South Africa's Finance Minister Enoch Godongwana has rejected a wealth tax, delivering a direct win to the country's billionaire class led by Johann Rupert and Patrice Motsepe.
South African billionaire Johann Rupert's Richemont completes Baume and Mercier sale to Italy's Damiani
Johann Rupert's Richemont has completed the sale of 196-year-old Swiss watchmaker Baume and Mercier to Italy's Damiani Group, ending a 38-year ownership of the historic brand.
South African superstar Tyla signs multi-million dollar deal with Jay-Z's Roc Nation
South African superstar Tyla has signed a multi-million dollar global deal with Jay-Z's Roc Nation, joining an elite roster that includes Rihanna, Tiwa Savage and Ayra Starr.
Billionaire Johann Rupert has helped give 24,000 South Africans the title deeds to their own homes through a quiet land reform programme
Johann Rupert is the biggest sponsor of Khaya Lam, the Free Market Foundation's land titling programme that has transferred more than 24,000 title deeds to underprivileged South Africans.
Billionaire Strive Masiyiwa joined South Africa's president at Google's first Africa cloud summit as the continent races to catch the AI wave
Strive Masiyiwa joined President Cyril Ramaphosa at Google's inaugural Africa Cloud Summit in Johannesburg as the continent accelerates its push into cloud computing and artificial intelligence.
South African billionaire Christo Wiese says he refuses to live like a prisoner and has no plans to leave despite the country's crime crisis
South African billionaire Christo Wiese says he refuses to live like a prisoner and has no intention of emigrating despite the country's persistent crime and security challenges.
South African billionaire Christo Wiese is still deploying capital at 84 with a fresh R350 million investment
Christo Wiese's Titan Premier Investments has made a R350 million capital investment in Preference Capital as South Africa's most active billionaire investor keeps deploying capital.
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.
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.
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African Wealth Briefing — Fri., July 3, 2026
South Africa rejects a wealth tax in a win for its billionaire class. Johann Rupert's Richemont parts with a 196-year-old watchmaker.
Haitian-born billionaire Herriot Tabuteau is worth $2.2 billion after Axsome stock doubles
Shares of Axsome Therapeutics have doubled in nine months, pushing the net worth of Haiti-born founder Herriot Tabuteau to $2.2 billion.
Heineken posts $1.9 million bank guarantee to freeze interest owed to Kenyan tycoon Ngugi Kiuna
The Dutch brewer secured a $1.9 million Equity Bank guarantee, halting disputed interest on the $11.3 million award owed to Ngugi Kiuna's Maxam.
Billionaire Rostam Aziz receives top Tanzania chamber of commerce award
Tanzania's chamber of commerce handed billionaire Rostam Azizi its highest award, citing his role in investment, job creation and growth.
Palantir billionaire Alex Karp blasts AI industry as effing insane in fiery CNBC interview
The Palantir chief, worth $12.3 billion, tore into rival AI firms on CNBC, accusing them of overcharging clients and endangering U.S. security.
Nigeria awards $1.2 billion highway contract to Gilbert Chagoury, a billionaire convicted of laundering Abacha's stolen funds
Nigeria has approved a N1.7 trillion ($1.24 billion) Sokoto-Badagry highway contract for Gilbert Chagoury's Hitech Construction, owned by a billionaire convicted in 2000 of laundering Abacha's funds.
Ivorian billionaire Jean-Louis Billon's Sucrivoire is the BRVM's best-performing stock in 2026
Jean-Louis Billon's Sucrivoire has surged 190 percent on West Africa's BRVM exchange in 2026, making it the region's best-performing stock despite losing $11 million last year.
South Africa's wealthy Levy brothers lose $97 million in ten months on Cell C woes
South African billionaire brothers Mark and Brett Levy have lost a combined R1.58 billion ($97.1 million) in ten months after the Cell C IPO disappointed investors.
Ghanaian billionaire Ibrahim Mahama builds Damang water supply near mining community
Ghanaian billionaire Ibrahim Mahama has provided a new sustainable water supply system to the Damang community near his Engineers and Planners mining operations in Ghana.
South Africa rejects wealth tax in win for billionaires
South Africa's Finance Minister Enoch Godongwana has rejected a wealth tax, delivering a direct win to the country's billionaire class led by Johann Rupert and Patrice Motsepe.
South African billionaire Johann Rupert's Richemont completes Baume and Mercier sale to Italy's Damiani
Johann Rupert's Richemont has completed the sale of 196-year-old Swiss watchmaker Baume and Mercier to Italy's Damiani Group, ending a 38-year ownership of the historic brand.
South African superstar Tyla signs multi-million dollar deal with Jay-Z's Roc Nation
South African superstar Tyla has signed a multi-million dollar global deal with Jay-Z's Roc Nation, joining an elite roster that includes Rihanna, Tiwa Savage and Ayra Starr.
Nigerian billionaire Femi Otedola recalls N200 million donation to father's scholarship
Femi Otedola has recalled his 2005 N200 million donation to his late father Sir Michael Otedola's scholarship scheme, when the award ceremony was chaired by then Lagos Governor Bola Tinubu.
Nigerian billionaire Oba Otudeko's Honeywell Group acquires 14% of Ikeja Hotel
Oba Otudeko's Honeywell Group has acquired a 14 percent stake in Ikeja Hotel Plc, valued at approximately N13.2 billion at current market prices.
Black billionaire Magic Johnson's LAFC sells Grasshopper stake as Euro bet fails
Magic Johnson's LAFC has sold its minority stake in Switzerland's Grasshopper Club Zurich after the historic Swiss club struggled on and off the pitch under American co-ownership.
Elon Musk denies WSJ report SpaceX showed investors secret AI device
Elon Musk has called a Wall Street Journal report that SpaceX showed investors a prototype AI device before its IPO utterly false in a post on X.
