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Nigerian tycoon David Olurin's Cardinal Torch is betting $4.5 million that Nigeria can stop exporting raw cashews
David Olurin's Cardinal Torch is building a $4.5 million cashew plant at Sagamu, chasing the processing income Nigeria currently exports to Vietnam and India.
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Moroccan King Mohammed VI names $1 billion Western Sahara highway after Donald Trump
King Mohammed VI has confirmed Morocco's 1,055km Tiznit-Dakhla expressway, built at close to $1 billion, will be called the Donald J. Trump Highway.
Nigerian tycoon David Olurin's Cardinal Torch is betting $4.5 million that Nigeria can stop exporting raw cashews
David Olurin's Cardinal Torch is building a $4.5 million cashew plant at Sagamu, chasing the processing income Nigeria currently exports to Vietnam and India.
Zimbabwe's Zed Koudounaris and Michael Fowler turned a Harare chicken shop into a $1.3 billion empire
Zed Koudounaris and Michael Fowler built a Harare chicken shop into four separately listed companies with a combined market value above $1.3 billion.
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The Inside Story: Magda Wierzycka — The Outsider
Magda Wierzycka arrived in South Africa at thirteen, a Polish refugee with almost nothing, learned two new languages, and built a financial-services firm now worth billions of rand.
Deep-Dive Report: Oando — Profit Without Solvency
Oando just returned to profit — a ₦68.6 billion half-year — and its shares have fallen 28% since May. Both facts are correct, and the gap between them is the whole story.
Investor Memo: Kenya's Cooking-Gas Market — Breaking the Duopoly
Two importers control 98% of Kenya's cooking-gas market. In months, Rostam Aziz's $130 million Mombasa terminal becomes the third door into the country — East Africa's largest LPG store.
Moroccan King Mohammed VI names $1 billion Western Sahara highway after Donald Trump
King Mohammed VI has confirmed Morocco's 1,055km Tiznit-Dakhla expressway, built at close to $1 billion, will be called the Donald J. Trump Highway.
Algeria's wealthy Benhamadi family is now shipping air conditioners to Europe, with 250,000 units ordered
Condor, owned by Algeria's Benhamadi family, has sent its first air conditioners to Europe and holds export orders for more than 250,000 units.
Egypt's richest man Nassef Sawiris lifts OCI stake to 57% in $14 million purchase
Nassef Sawiris has bought 3 million more OCI shares for about €12.2 million, lifting his combined holding to 57.1% of the Dutch-listed company.
Egyptian billionaire Hisham Talaat Moustafa wins final approval for $27 billion Cairo city
Egypt's cabinet has approved the country's first private investment zone with its own customs system for Hisham Talaat Moustafa's LE1.4 trillion Spine project.
Egyptian tycoon Hend El Sherbini takes majority control of IDH despite board rejection
Hend El Sherbini's offer for Integrated Diagnostics has gone unconditional at 56.6%, days after independent directors told shareholders the price undervalued the company.
Turkish billionaire Fuat Tosyalı's Algerian cold rolling mill produces its first steel
Fuat Tosyalı's Algerian subsidiary has rolled its first cold-rolled steel at Béthioua, completing the largest Turkish industrial investment outside Turkey.
Tunisian tycoon Rached Horchani's conglomerate spans tuna fleets, Sahara hotels and banks
Rached Horchani's group runs tuna fleets, date farms, olive oil mills, three Sahara hotels, quarries and stakes across Tunisia's banks.
Egyptian healthcare tycoon Hend El Sherbini's $291 million take-private draws zero acceptances
IDH chief executive Hend El Sherbini's $291 million bid to take the Egyptian diagnostics group private had drawn no acceptances by July 22.
Nigerian tycoon David Olurin's Cardinal Torch is betting $4.5 million that Nigeria can stop exporting raw cashews
David Olurin's Cardinal Torch is building a $4.5 million cashew plant at Sagamu, chasing the processing income Nigeria currently exports to Vietnam and India.
Nigerian tycoon Tunji Olowolafe funds West Africa's first eye surgery simulator in wife's memory
Tunji Olowolafe's foundation has opened West Africa's first ophthalmic surgical simulation centre in Lagos, named after his late wife Gbemisola Olowolafe.
Burkinabè banker Idrissa Nassa's Coris secures €80 million for West African food and energy
Coris Holding, founded by Burkinabè banker Idrissa Nassa, has signed an €80 million facility with the ECOWAS bank for food, energy and agriculture.
Nigerian billionaire Femi Otedola signals he wants 51% of First HoldCo after investing $432 million
Femi Otedola says his investment threshold is always above 51% and that he is on the same trajectory at First HoldCo, where he now holds 25.8%.
Billionaire Femi Otedola gains $106 million in four days as First HoldCo hits record
First HoldCo touched a record ₦137.20 on Monday, taking Femi Otedola's stake to about $1.18 billion, a paper gain of $106 million in four days.
Oando shares fell 28% since May even as the company returned to profit
Oando shares have fallen 28% since May despite a ₦44.53 billion quarterly profit, with liabilities still exceeding assets by ₦530 billion.
Nigerian billionaire Aliko Dangote commits $800 million to double his Itori cement plant
Aliko Dangote has signed an $800 million agreement with China's Sinoma to double capacity at his Itori cement plant in Ogun State to 12 million tonnes.
Nigerian billionaire Rasheed Sarumi's Presco commits $200 million to Ondo oil palm project
Presco will invest an initial $200 million in Ondo State to build oil palm plantations, a processing mill and a refinery, its chief executive said.
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.
Zimbabwe's Zed Koudounaris and Michael Fowler turned a Harare chicken shop into a $1.3 billion empire
Zed Koudounaris and Michael Fowler built a Harare chicken shop into four separately listed companies with a combined market value above $1.3 billion.
South African billionaire Robert Gumede targets Illovo months after rescuing rival Tongaat Hulett
Robert Gumede's Vision Sugar has approached Associated British Foods about acquiring Illovo Sugar, months after rescuing its largest southern African rival.
Tycoon John Moxon's Meikles exits Zimbabwe's hotel industry after a public family succession fight
Meikles has agreed to sell its half of the Victoria Falls Hotel partnership to African Sun, eight months after deciding to retain the asset.
Angola seeks Interpol notice for Isabel dos Santos as Cyprus court keeps millions frozen
Cyprus's Supreme Court has refused to lift a freezing order on bank accounts that Angolan authorities allege are linked to Isabel dos Santos.
South African financier Magda Wierzycka's controlling Sygnia stake is worth $177 million
Magda Wierzycka owns 90,235,124 Sygnia shares worth about $177 million, and told a rich-list compiler that Wendy Appelbaum is South Africa's wealthiest woman.
South Africa's richest woman and her daughters have given $6 million to political parties
Mary Oppenheimer Slack and her three daughters have disclosed more than R100 million in donations to South African political parties since disclosure became law.
Zimbabwean tycoon Simon Rudland opens $25 million citrus plant at the South African border
Simon Rudland has commissioned a $25 million citrus processing plant at Beitbridge that will supply juice to Schweppes Zimbabwe and export markets.
Botswana tycoon Ramachandran Ottapathu's Engen takeover faces public competition hearing
Botswana's competition regulator has opened Ramachandran Ottapathu's bid for 70% of Engen Botswana to public submissions before reaching a decision.
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
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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.
Latest Posts
Moroccan King Mohammed VI names $1 billion Western Sahara highway after Donald Trump
King Mohammed VI has confirmed Morocco's 1,055km Tiznit-Dakhla expressway, built at close to $1 billion, will be called the Donald J. Trump Highway.
Nigerian tycoon David Olurin's Cardinal Torch is betting $4.5 million that Nigeria can stop exporting raw cashews
David Olurin's Cardinal Torch is building a $4.5 million cashew plant at Sagamu, chasing the processing income Nigeria currently exports to Vietnam and India.
Zimbabwe's Zed Koudounaris and Michael Fowler turned a Harare chicken shop into a $1.3 billion empire
Zed Koudounaris and Michael Fowler built a Harare chicken shop into four separately listed companies with a combined market value above $1.3 billion.
Swiss bank UBS fined a record $125 million after admitting it failed to vet wealthy clients
UBS has admitted willfully violating US anti-money laundering law after failing to check the source of wealth of high-risk clients it served.
South African billionaire Robert Gumede targets Illovo months after rescuing rival Tongaat Hulett
Robert Gumede's Vision Sugar has approached Associated British Foods about acquiring Illovo Sugar, months after rescuing its largest southern African rival.
Nigerian tycoon Tunji Olowolafe funds West Africa's first eye surgery simulator in wife's memory
Tunji Olowolafe's foundation has opened West Africa's first ophthalmic surgical simulation centre in Lagos, named after his late wife Gbemisola Olowolafe.
Tycoon John Moxon's Meikles exits Zimbabwe's hotel industry after a public family succession fight
Meikles has agreed to sell its half of the Victoria Falls Hotel partnership to African Sun, eight months after deciding to retain the asset.
Angola seeks Interpol notice for Isabel dos Santos as Cyprus court keeps millions frozen
Cyprus's Supreme Court has refused to lift a freezing order on bank accounts that Angolan authorities allege are linked to Isabel dos Santos.
Burkinabè banker Idrissa Nassa's Coris secures €80 million for West African food and energy
Coris Holding, founded by Burkinabè banker Idrissa Nassa, has signed an €80 million facility with the ECOWAS bank for food, energy and agriculture.
Algeria's wealthy Benhamadi family is now shipping air conditioners to Europe, with 250,000 units ordered
Condor, owned by Algeria's Benhamadi family, has sent its first air conditioners to Europe and holds export orders for more than 250,000 units.
African Wealth Briefing — Mon., Aug. 3, 2026
Femi Otedola signals he wants outright control of Nigeria's most valuable bank — after pouring in $432 million and gaining $106 million in four days.
The Inside Story: Magda Wierzycka — The Outsider
Magda Wierzycka arrived in South Africa at thirteen, a Polish refugee with almost nothing, learned two new languages, and built a financial-services firm now worth billions of rand.
Deep-Dive Report: Oando — Profit Without Solvency
Oando just returned to profit — a ₦68.6 billion half-year — and its shares have fallen 28% since May. Both facts are correct, and the gap between them is the whole story.
Investor Memo: Kenya's Cooking-Gas Market — Breaking the Duopoly
Two importers control 98% of Kenya's cooking-gas market. In months, Rostam Aziz's $130 million Mombasa terminal becomes the third door into the country — East Africa's largest LPG store.
Nigerian billionaire Femi Otedola signals he wants 51% of First HoldCo after investing $432 million
Femi Otedola says his investment threshold is always above 51% and that he is on the same trajectory at First HoldCo, where he now holds 25.8%.
Billionaire Femi Otedola gains $106 million in four days as First HoldCo hits record
First HoldCo touched a record ₦137.20 on Monday, taking Femi Otedola's stake to about $1.18 billion, a paper gain of $106 million in four days.
