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Ernest Obiejesi loses again as Court lifts EFCC shield on firms linked to Nestoil Group, clearing the way for a probe into a $1 billion debt dispute
A Nigerian court has vacated injunctions protecting Amaranta Oil and Jonescreek Hydrocarbon from EFCC scrutiny in a $1 billion Nestoil Group debt dispute.
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Ernest Obiejesi loses again as Court lifts EFCC shield on firms linked to Nestoil Group, clearing the way for a probe into a $1 billion debt dispute
A Nigerian court has vacated injunctions protecting Amaranta Oil and Jonescreek Hydrocarbon from EFCC scrutiny in a $1 billion Nestoil Group debt dispute.
Dave Chappelle spent $15 million saving a 19th century Ohio schoolhouse and turned it into a home for his town's public radio station
Dave Chappelle spent $15 million buying and renovating an 1870s Ohio schoolhouse to save his hometown's public radio station from relocating.
Meet Godfrey Kirumira: the boy who sold cigarettes at 12 and built one of Uganda's biggest business empires
Godfrey Kirumira started trading cigarettes at 12 on the streets of Kampala. Today he chairs the club of Uganda's richest tycoons.
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Investor Memo: The Hormuz Dividend — How the Iran War Is Repricing Every African Upstream Asset in Real Time
Four major African upstream transactions in two weeks — Oando raising $750 million, NNPC doubling Dangote's crude supply, Seplat making NGX history at N10,000, and Petrobras entering the Gulf of Guinea through Arthur Eze's Oranto — all driven by a single cause: the Iran war has repriced African oil.
Wealth Intelligence: Abdul Samad Rabiu — The Best Quarter in Nigerian Industrial History, and It Still Wasn’t Enough to Hold Third Place
Rabiu posted the best quarter in Nigerian industrial history — BUA Cement profit up 381 percent, BUA Foods proposing a record N504 billion dividend, and over $400 million flowing to him personally in a single season — and still fell to fourth on the continent.
Investor Memo: The $50 Billion Test — How the Dangote Refinery IPO Became Africa’s First Serious Cross-Border Listing
The Dangote Refinery IPO is not just Africa's largest equity offering — it is the first serious attempt to prove that a continental capital market can price a $50 billion industrial asset without outsourcing to London or New York, and the test lands in ten weeks.
Egyptian billionaire Hisham Talaat Moustafa's TMG unveils a $27 billion AI-powered city in east Cairo with underground roads and 165 towers
Egypt's Talaat Moustafa Group has unveiled The Spine, a $27 billion mixed-use city east of Cairo billed as the first AI-powered cognitive city in the Middle East.
Egypt's richest man Nassef Sawiris lifts Orascom Construction stake to 43.39%
Nassef Sawiris has increased his total stake in Orascom Construction to 43.39% after his NNS City family office acquired approximately 1.13 million additional shares in the company.
Algerian tycoon Mahieddine Tahkout faces fresh corruption allegations over billions in diverted funds and international money laundering
Algerian businessman Mahieddine Tahkout faces fresh corruption allegations over diverted funds and international money laundering in a widening legal case.
Hassan Allam acquires MetiPro from Metito to build a scaled water infrastructure platform across the Middle East and Africa
Hassan Allam Holding has agreed to acquire MetiPro, the engineering and construction arm of water management group Metito, in an undisclosed deal.
Nassef Sawiris books record Aston Villa profit as Premier League reviews asset sales
Nassef Sawiris' Aston Villa has posted a record £113.6 million profit built on asset sales to the owners' own holding company, triggering Premier League review.
Othman Benjelloun's $500m Mohammed VI Tower opens in Rabat as Morocco's tallest building
Othman Benjelloun's O Capital Group has delivered Morocco's tallest building, a 250-meter skyscraper in Rabat inaugurated by the Crown Prince.
Lo Toney: 7 companies that define his venture capital legacy
From Nike's digital halls to his own Plexo Capital, Lo Toney's career spans seven companies that define modern venture capital investing
The 7 companies driving Willie Woods' $1.3 billion private equity empire
A deep look at seven companies backing Willie Woods' 25-year mission to build the premier minority-owned private equity firm in America.
Ernest Obiejesi loses again as Court lifts EFCC shield on firms linked to Nestoil Group, clearing the way for a probe into a $1 billion debt dispute
A Nigerian court has vacated injunctions protecting Amaranta Oil and Jonescreek Hydrocarbon from EFCC scrutiny in a $1 billion Nestoil Group debt dispute.
Africa's richest man is pushing his $20 billion refinery into high-margin chemicals, betting on polypropylene and detergent ingredients
Aliko Dangote is expanding his Lagos refinery into high-margin chemicals including polypropylene, fertiliser and detergent ingredients as he targets 1.4 million barrels per day.
Aliko Dangote's refinery fights crude squeeze as Nigeria ships out 55.39 million barrels
Nigeria exported 55.39 million barrels of crude in January and February while Aliko Dangote's 650,000-barrel-a-day refinery scrambled to close a feedstock shortfall.
Nigerian billionaire Mike Adenuga turns 73: Inside the quiet legacy of Globacom's founder
Nigerian billionaire Mike Adenuga turns 73 on April 29, marking more than four decades of bold bets across telecom, oil and gas, and banking.
Cameroon's richest man Baba Danpullo is struggling to find a buyer for his Sodecoton stake as cotton prices fall and harvest output disappoints
Weak cotton prices and a disappointing 2025 harvest are blocking Cameroon billionaire Baba Danpullo's bid to exit his minority stake in Sodecoton.
Shareholders praise billionaire Abdul Samad Rabiu's leadership as BUA Foods and Cement post record profits
Nigerian shareholders praised Abdul Samad Rabiu's governance at BUA Group as BUA Foods posted N518 billion net profit and proposed a N28 dividend, more than doubling the prior year's payout.
Meet Wale Babalakin: the lawyer who built Nigeria's best airport with private money and then spent years fighting the government to keep it
Wale Babalakin built Nigeria's finest airport terminal with private money, earned a Cambridge PhD at 25 and is one of the country's most consequential lawyer-businessmen.
Idrissa Nassa's Coris Bank profit hits CFA103.2 billion in 2025, up 36%
Coris Bank International posted CFA103.2 billion in net profit in 2025, a 36% increase, as founder Idrissa Nassa's regional banking group extends its West African footprint.
Meet Godfrey Kirumira: the boy who sold cigarettes at 12 and built one of Uganda's biggest business empires
Godfrey Kirumira started trading cigarettes at 12 on the streets of Kampala. Today he chairs the club of Uganda's richest tycoons.
Uganda's richest man appoints daughter to council seat of Victoria University following his son's death
Victoria University has appointed Meera Ruparelia to its University Council, replacing her late brother Rajiv Ruparelia who died in a road accident in May 2025.
Kenyan billionaire Mohamed Jaffer allegedly manufactured a national petroleum crisis to pocket millions of dolalrs
Kenyan Senate investigation has named Mombasa tycoon Mohamed Jaffer and 2 state officials in an alleged scheme to manufacture the country's worst fuel crisis in 3 years.
Malagasy billionaire Hassanein Hiridjee's AXIAN Telecom revenue hits $1.69 billion in 2025 results
AXIAN Telecom posted full-year 2025 revenue of $1.69 billion, up 20.2%, as acquisitions and mobile data growth accelerated across its African markets.
Tanzanian billionaire Rostam Aziz's Taifa Gas takes stake in Songo Songo as Orca Energy exits Tanzania
Rostam Aziz's Taifa Gas Tanzania has agreed to acquire a 49 percent stake in the Songo Songo gas field as Canada's Orca Energy exits for $10.
MTN Uganda shareholders back Charles Mbire for another term with a 99 percent vote
MTN Uganda shareholders gave Charles Mbire a 99 percent vote to continue as board chairman, while the company's share price surged to Shs470.
Kirubi family's Haco Industries weighs IPO or investor for succession
Kenya's Haco Industries is exploring either an IPO or a strategic investor as the Kirubi family plans succession, while MD Mary-Ann Musangi pushes the consumer goods maker into Ghana, Nigeria and Senegal.
Kenyan businesswoman Mary Ann Musangi’s Haco Industries to launch in Ghana by end of April
Haco Industries will begin operations in Ghana by end April through a joint venture, using a lean model that avoids building factories.
Elon Musk faces Paris interview today as US refuses to help French probe of X
French prosecutors summoned Elon Musk for a Paris interview on April 20, pressing their criminal probe into X's handling of illegal content.
Johann Rupert's Richemont frees up €4.9 billion in capital and takeover speculation is now swirling across the luxury industry
Johann Rupert's Richemont has freed up €4.9 billion in capital, sending the luxury world into speculation about a potential blockbuster acquisition.
South African tycoon Robert Gumede wins reprieve for Tongaat Hulett as Durban court delays liquidation bid
Robert Gumede's Vision Sugar Group won court breathing room on April 17 to finalize a rescue plan for Tongaat Hulett, staving off liquidation.
Elon Musk just brought Tesla robotaxis to Dallas and Houston. The market he is targeting is worth $1 trillion
Elon Musk has launched Tesla robotaxis in Dallas and Houston, expanding to four US cities as analysts peg the autonomous ridesharing market at over $1 trillion.
Patrice Motsepe's African Rainbow Capital cleared of $195 million liability in Tanzania graphite lawsuit
Patrice Motsepe's African Rainbow Capital has been cleared by the Gauteng High Court of liability in a $195 million damages claim by US-based Pula Group.
South African-born tycoon Gary Lubner eyes $1 billion windfall in glass repair giant Belron IPO
South African-born Gary Lubner, former Belron chief executive and major Labour donor, stands to pocket close to $1 billion if the Autoglass parent lists in Amsterdam.
Johann Rupert's Richemont converts €100 million debt to equity to prop up Belgian handbag maker Delvaux
Johann Rupert's Richemont has converted €100.6 million of debt into equity at Delvaux, the world's oldest luxury leather goods house, as the Belgian brand's Asian revenue slump drives accumulated losses toward €80 million.
Glencore and Patrice Motsepe's ARM overturn SARS diesel refund ruling on appeal
Ivan Glasenberg's Glencore and Patrice Motsepe's ARM have won a Supreme Court of Appeal ruling reversing a SARS diesel refund decision with wide implications for mining joint ventures.
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.
Ahmed Osman Guelleh, one of Djibouti's richest men, recalibrates for a tougher market
Ahmed Osman Guelleh built a logistics and beverage empire around Djibouti’s ports and Somaliland’s Coca-Cola plant. Now competition is testing his hold.
Somali businessman Abdiweli Hassan to invest $503 million in Kenya’s Tatu City
Somali businessman Abdiweli Hassan plans a $503 million mixed-use project at Kenya’s Tatu City, expanding his footprint from retail into urban development.
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African Wealth Briefing — Tues., April 21, 2026
Dangote's refinery fights a crude squeeze as Nigeria ships 55.39 million barrels, a court lifts the EFCC shield on Nestoil Group's $1 billion debt dispute, and Mike Adenuga turns 73 — plus our new Investor Memo maps how the Iran war is repricing every African upstream asset in real time.
Ernest Obiejesi loses again as Court lifts EFCC shield on firms linked to Nestoil Group, clearing the way for a probe into a $1 billion debt dispute
A Nigerian court has vacated injunctions protecting Amaranta Oil and Jonescreek Hydrocarbon from EFCC scrutiny in a $1 billion Nestoil Group debt dispute.
Dave Chappelle spent $15 million saving a 19th century Ohio schoolhouse and turned it into a home for his town's public radio station
Dave Chappelle spent $15 million buying and renovating an 1870s Ohio schoolhouse to save his hometown's public radio station from relocating.
Meet Godfrey Kirumira: the boy who sold cigarettes at 12 and built one of Uganda's biggest business empires
Godfrey Kirumira started trading cigarettes at 12 on the streets of Kampala. Today he chairs the club of Uganda's richest tycoons.
Elon Musk faces Paris interview today as US refuses to help French probe of X
French prosecutors summoned Elon Musk for a Paris interview on April 20, pressing their criminal probe into X's handling of illegal content.
Africa's richest man is pushing his $20 billion refinery into high-margin chemicals, betting on polypropylene and detergent ingredients
Aliko Dangote is expanding his Lagos refinery into high-margin chemicals including polypropylene, fertiliser and detergent ingredients as he targets 1.4 million barrels per day.
Johann Rupert's Richemont frees up €4.9 billion in capital and takeover speculation is now swirling across the luxury industry
Johann Rupert's Richemont has freed up €4.9 billion in capital, sending the luxury world into speculation about a potential blockbuster acquisition.
South African tycoon Robert Gumede wins reprieve for Tongaat Hulett as Durban court delays liquidation bid
Robert Gumede's Vision Sugar Group won court breathing room on April 17 to finalize a rescue plan for Tongaat Hulett, staving off liquidation.
Aliko Dangote's refinery fights crude squeeze as Nigeria ships out 55.39 million barrels
Nigeria exported 55.39 million barrels of crude in January and February while Aliko Dangote's 650,000-barrel-a-day refinery scrambled to close a feedstock shortfall.
Nigerian billionaire Mike Adenuga turns 73: Inside the quiet legacy of Globacom's founder
Nigerian billionaire Mike Adenuga turns 73 on April 29, marking more than four decades of bold bets across telecom, oil and gas, and banking.
Cameroon's richest man Baba Danpullo is struggling to find a buyer for his Sodecoton stake as cotton prices fall and harvest output disappoints
Weak cotton prices and a disappointing 2025 harvest are blocking Cameroon billionaire Baba Danpullo's bid to exit his minority stake in Sodecoton.
Shareholders praise billionaire Abdul Samad Rabiu's leadership as BUA Foods and Cement post record profits
Nigerian shareholders praised Abdul Samad Rabiu's governance at BUA Group as BUA Foods posted N518 billion net profit and proposed a N28 dividend, more than doubling the prior year's payout.
Uganda's richest man appoints daughter to council seat of Victoria University following his son's death
Victoria University has appointed Meera Ruparelia to its University Council, replacing her late brother Rajiv Ruparelia who died in a road accident in May 2025.
Egyptian billionaire Hisham Talaat Moustafa's TMG unveils a $27 billion AI-powered city in east Cairo with underground roads and 165 towers
Egypt's Talaat Moustafa Group has unveiled The Spine, a $27 billion mixed-use city east of Cairo billed as the first AI-powered cognitive city in the Middle East.
Elon Musk just brought Tesla robotaxis to Dallas and Houston. The market he is targeting is worth $1 trillion
Elon Musk has launched Tesla robotaxis in Dallas and Houston, expanding to four US cities as analysts peg the autonomous ridesharing market at over $1 trillion.
Meet Wale Babalakin: the lawyer who built Nigeria's best airport with private money and then spent years fighting the government to keep it
Wale Babalakin built Nigeria's finest airport terminal with private money, earned a Cambridge PhD at 25 and is one of the country's most consequential lawyer-businessmen.
