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Geneva's tax authority demands millions from Cameroonian billionaire Paul Fokam
Geneva's tax administration has opened a case against Cameroonian banker Paul Fokam over undeclared wealth during ten years living in Switzerland.
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Billionaire Aliko Dangote wins court order keeping Nigeria's oil regulator out of his refinery
A Lagos court has extended an order barring Nigeria's petroleum regulator from Dangote's refinery, four days before its share offer opens.
South African tycoon Stephen Saad's Aspen pulls out of making the HIV prevention shot
Aspen has withdrawn from South Africa's plan to make Gilead's HIV prevention injection locally, with Stephen Saad citing the absence of purchase guarantees.
Senegalese billionaire Yerim Sow's holding company sells $118 million of Bridge Bank
Bridge Bank lists in Abidjan on Sept. 24 after Yerim Sow's holding company sold a fifth of the Ivorian lender in an oversubscribed offer.
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The Inside Story: The $16,000 Start — How Muhammed Jah Built The Gambia's Largest Conglomerate From a Computer School in One of Africa's Smallest Economies
In one of Africa's smallest economies, Muhammed Jah turned $16,000 — a student stipend and an uncle's loan — into The Gambia's largest conglomerate: its first internet provider, first 3G network, a bank and its first data centre. A national champion built from almost nothing.
Deep-Dive Report: Waste Into Wealth — How Joseph Siaw Agyepong Built a 29-Country Empire on Government Contracts, and the Scrutiny Now Following It to Kenya
Joseph Siaw Agyepong turned his mother's printing shop into a 76-company, 29-country empire on one idea: governments always pay to have their rubbish removed. But in Nairobi and Mombasa, two of his biggest contracts are now being challenged in court.
Investor Memo: The Quiet Fortune — How Benin-Born Oil Veteran Samuel Dossou-Aworet Built a $1.4 Billion Stake in Seplat and Aradel
An 81-year-old Benin-born engineer who ran Gabon's oil for 13 years quietly holds ~$1.4 billion of Nigerian oil shares — Seplat and Aradel — through Petrolin vehicles almost no one tracks. Samuel Dossou-Aworet, and the rare edge of the operator who became an owner.
Egypt's billionaire Elsewedy family bets $700 million on energy services
Egypt's El Sewedy family has announced about $700 million of investment as Elsewedy Electric pushes from cables into power services.
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.
Billionaire Aliko Dangote wins court order keeping Nigeria's oil regulator out of his refinery
A Lagos court has extended an order barring Nigeria's petroleum regulator from Dangote's refinery, four days before its share offer opens.
Senegalese billionaire Yerim Sow's holding company sells $118 million of Bridge Bank
Bridge Bank lists in Abidjan on Sept. 24 after Yerim Sow's holding company sold a fifth of the Ivorian lender in an oversubscribed offer.
Geneva's tax authority demands millions from Cameroonian billionaire Paul Fokam
Geneva's tax administration has opened a case against Cameroonian banker Paul Fokam over undeclared wealth during ten years living in Switzerland.
Africa's richest man Aliko Dangote is worth $54 billion after refinery filing reveals 87% stake
A new prospectus shows Aliko Dangote holds 87.27% of his oil refinery, putting the fortune of Africa's richest man at $54 billion.
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.
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
South African tycoon Stephen Saad's Aspen pulls out of making the HIV prevention shot
Aspen has withdrawn from South Africa's plan to make Gilead's HIV prevention injection locally, with Stephen Saad citing the absence of purchase guarantees.
Billionaires Strive Masiyiwa, El Sewedy family join Vodafone to build Egypt's first AI data centre
Strive Masiyiwa's Cassava and the El Sewedy family's Elsewedy Electric have joined Vodafone to build Egypt's first AI data centre.
South African tycoon Zunaid Moti's Botswana schools deal could cost taxpayers $1.5 billion
Botswana's opposition says a schools deal tied to Zunaid Moti could cost taxpayers P20 billion, and wants a parliamentary panel to investigate.
South African billionaire Johann Rupert names his son Anton co-deputy chair of Richemont
Johann Rupert has put his 39-year-old son Anton in charge of Richemont's creative and commercial direction as non-executive co-deputy chairman, announced on the day of the group's annual general meeting.
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.
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
Billionaire Aliko Dangote wins court order keeping Nigeria's oil regulator out of his refinery
A Lagos court has extended an order barring Nigeria's petroleum regulator from Dangote's refinery, four days before its share offer opens.
South African tycoon Stephen Saad's Aspen pulls out of making the HIV prevention shot
Aspen has withdrawn from South Africa's plan to make Gilead's HIV prevention injection locally, with Stephen Saad citing the absence of purchase guarantees.
Senegalese billionaire Yerim Sow's holding company sells $118 million of Bridge Bank
Bridge Bank lists in Abidjan on Sept. 24 after Yerim Sow's holding company sold a fifth of the Ivorian lender in an oversubscribed offer.
Kenyan fruit juice tycoon Kimani Rugendo invests $2.3 million in breeding potato seed
Kimani Rugendo's Kevian Kenya has put Sh300 million into potato seed development, moving the juice maker upstream into agricultural inputs.
Egypt's billionaire Elsewedy family bets $700 million on energy services
Egypt's El Sewedy family has announced about $700 million of investment as Elsewedy Electric pushes from cables into power services.
Geneva's tax authority demands millions from Cameroonian billionaire Paul Fokam
Geneva's tax administration has opened a case against Cameroonian banker Paul Fokam over undeclared wealth during ten years living in Switzerland.
Billionaires Strive Masiyiwa, El Sewedy family join Vodafone to build Egypt's first AI data centre
Strive Masiyiwa's Cassava and the El Sewedy family's Elsewedy Electric have joined Vodafone to build Egypt's first AI data centre.
South African tycoon Zunaid Moti's Botswana schools deal could cost taxpayers $1.5 billion
Botswana's opposition says a schools deal tied to Zunaid Moti could cost taxpayers P20 billion, and wants a parliamentary panel to investigate.
Tanzanian billionaire Ghalib Said Mohamed wants more trains to the inland cargo hub he runs
Tanzania Railways may add trains to Isaka, the inland cargo hub Ghalib Said Mohamed leases, which clears freight for Rwanda, Burundi, Congo and Uganda.
African Wealth Briefing — Wed., Sept. 9, 2026
An 81-year-old Benin-born engineer who once ran Gabon's oil quietly holds $1.43 billion of Nigerian oil shares — one of several fortunes hiding in plain sight over the weekend.
The Inside Story: The $16,000 Start — How Muhammed Jah Built The Gambia's Largest Conglomerate From a Computer School in One of Africa's Smallest Economies
In one of Africa's smallest economies, Muhammed Jah turned $16,000 — a student stipend and an uncle's loan — into The Gambia's largest conglomerate: its first internet provider, first 3G network, a bank and its first data centre. A national champion built from almost nothing.
Deep-Dive Report: Waste Into Wealth — How Joseph Siaw Agyepong Built a 29-Country Empire on Government Contracts, and the Scrutiny Now Following It to Kenya
Joseph Siaw Agyepong turned his mother's printing shop into a 76-company, 29-country empire on one idea: governments always pay to have their rubbish removed. But in Nairobi and Mombasa, two of his biggest contracts are now being challenged in court.
Investor Memo: The Quiet Fortune — How Benin-Born Oil Veteran Samuel Dossou-Aworet Built a $1.4 Billion Stake in Seplat and Aradel
An 81-year-old Benin-born engineer who ran Gabon's oil for 13 years quietly holds ~$1.4 billion of Nigerian oil shares — Seplat and Aradel — through Petrolin vehicles almost no one tracks. Samuel Dossou-Aworet, and the rare edge of the operator who became an owner.
Raffles Family Office hires former Rwandan minister Jean de Dieu Uwihanganye to court wealthy Africans
Jean de Dieu Uwihanganye, Rwanda's former infrastructure minister, joins Raffles Family Office to lead its push along the Africa-Asia corridor.
South Korean billionaire Kwon Hyuk-bin loses 35% of Smilegate in a record $1.9 billion divorce
A Seoul court orders Smilegate founder Kwon Hyuk-bin to hand his ex-wife a 35% stake and cash worth $1.91 billion, a national record.
Africa's richest man Aliko Dangote is worth $54 billion after refinery filing reveals 87% stake
A new prospectus shows Aliko Dangote holds 87.27% of his oil refinery, putting the fortune of Africa's richest man at $54 billion.
