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Trump's mining push in DR Congo puts sanctioned Israeli billionaire Dan Gertler back at the center of a $9 billion deal
Donald Trump's Congo mining push is stalled over sanctioned billionaire Dan Gertler, whose royalties are blocking a $9 billion Glencore copper and cobalt deal.
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Trump's mining push in DR Congo puts sanctioned Israeli billionaire Dan Gertler back at the center of a $9 billion deal
Donald Trump's Congo mining push is stalled over sanctioned billionaire Dan Gertler, whose royalties are blocking a $9 billion Glencore copper and cobalt deal.
Ernest Obiejesi's Nestoil $2.1 billion debt blocks dividends at 3 banks
Ernest Obiejesi's Nestoil owes Nigerian banks approximately N2.9 trillion ($2 billion) and the CBN has blocked dividends at UBA, Access Holdings and FCMB until the loans are fully provisioned.
Billionaire property developer Hisham Talaat Moustafa warns Egypt's new real estate fees could push project costs up by 15 percent
New Egyptian real estate fees could push project costs up by 15 percent, developers including Talaat Moustafa warn, adding to already elevated costs.
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Executive Insight: Where the African Money Is Going — London’s Quiet Loss of UHNW African Wealth After the Non-Dom Reform
Sawiris's London office closure marks the end of a quiet migration of African UHNW wealth to Italy, the UAE, and Switzerland after the UK abolished its non-dom regime in April 2025.
The Inside Report: Moody’s Surrenders Its South African License as Global Ratings Pull Back from Africa
Moody's has surrendered its South African credit rating license after 32 years, leaving GCR — the pan-African agency Moody's itself fully owns — to fill the domestic gap as global ratings retreat from Africa.
Executive Insight: Six Months on the JSE — What the Optasia Insider Sell-Down Reveals About Africa’s First Major Fintech Listing
Optasia debuted on the JSE in November 2025 as Sub-Saharan Africa's first major fintech IPO. Six months later, the operating story has compounded — but the founder is gone, FirstRand owns 26%, and a related-party deal is testing the listing's governance architecture.
Billionaire property developer Hisham Talaat Moustafa warns Egypt's new real estate fees could push project costs up by 15 percent
New Egyptian real estate fees could push project costs up by 15 percent, developers including Talaat Moustafa warn, adding to already elevated costs.
Egyptian billionaire Sawiris family-linked HOF Capital buys Porsche's Bugatti stake in a deal valuing the brand above $1 billion
HOF Capital, co-founded by Onsi Sawiris of Egypt's billionaire Sawiris dynasty, has led a consortium to buy Porsche's full 45% stake in Bugatti Rimac.
Moroccan tycoon Yariv Elbaz's Forafric is selling its flour business to billionaire Chakib Alj while announcing it wants to pivot to drones and AI
Nasdaq-listed Forafric is selling control of its Moroccan flour business to billionaire Chakib Alj while announcing a drone and AI pivot, one year after a formal going concern warning.
Algeria's richest man Issad Rebrab's Cevital is being sued in France over Brandt's liquidation
About 60 former Brandt employees plan to sue Cevital in 2 French courts in May, calling their dismissals abusive and seeking civil damages from Algeria's biggest private company.
How Algerian billionaire Issad Rebrab's $400 million steelworks gamble in Italy collapsed and took his Brazil iron ore dream down with it
Issad Rebrab bought a struggling Italian steelworks in 2015 and planned a $400 million revival. Three years later, he sold it and his Brazil iron ore plan collapsed with it.
Billionaire Naguib Sawiris pours another $400 million into gold as geopolitical tensions push him to cut Egypt real estate
Naguib Sawiris has added $400 million to his gold investments since the start of the current geopolitical tensions, while cutting Egypt real estate and expanding in the UAE.
Egyptian billionaire Nassef Sawiris formally closes his London family office, completing a UK exit triggered by the end of the non-dom tax status
Nassef Sawiris has formally closed his London family office NNS Advisers, completing a multi-step UK departure triggered by the end of the non-dom tax regime.
Moroccan billionaire Othman Benjelloun opens Morocco's tallest tower in Sale after 8 years of construction
Morocco's tallest building, a $700 million rocket-shaped skyscraper backed by billionaire Othman Benjelloun, has opened in Sale after 8 years of construction.
Trump's mining push in DR Congo puts sanctioned Israeli billionaire Dan Gertler back at the center of a $9 billion deal
Donald Trump's Congo mining push is stalled over sanctioned billionaire Dan Gertler, whose royalties are blocking a $9 billion Glencore copper and cobalt deal.
Ernest Obiejesi's Nestoil $2.1 billion debt blocks dividends at 3 banks
Ernest Obiejesi's Nestoil owes Nigerian banks approximately N2.9 trillion ($2 billion) and the CBN has blocked dividends at UBA, Access Holdings and FCMB until the loans are fully provisioned.
Dangote Petroleum Refinery recalls 800 engineers after union dispute, issues conditional pardon
Dangote Petroleum Refinery has recalled around 800 engineers previously redeployed following a labour union dispute, granting a conditional pardon.
Dangote Group calls reports of rift with Tony Elumelu false and malicious
The Dangote Group has dismissed reports alleging a rift between Aliko Dangote and Tony Elumelu, threatening legal action against anyone spreading the claims.
Nigerian billionaire Dahiru Mangal's son wins APC ticket in Katsina, unseating a two-term sitting rep
Abba Mangal, son of billionaire Dahiru Mangal, has emerged as the APC candidate for Katsina Central, ending a two-term incumbent's return bid.
Stanbic IBTC founder Atedo Peterside says Nigeria could face a crisis if the ADC Is blocked from 2027 elections
Atedo Peterside warned that Nigeria risks a serious legitimacy crisis if the ADC is prevented from contesting the 2027 presidential election.
Ghanaian billionaire Ibrahim Mahama's Damang Mine delivers its first 110 kilograms of gold directly to Ghana's central bank
Ibrahim Mahama's Damang Gold Mine has sold its first 110 kilograms of output to Ghana's Gold Board for the central bank's reserves, weeks after taking over the mine from Gold Fields.
Nigerian tycoon Wale Babalakin writes off a N132 billion airport debt and hands back MMA1 to the government in a deal that finally ends a 20-year fight over Lagos's private terminal
Wale Babalakin's Bi-Courtney has written off a N132 billion judgment debt and returned MMA1 to the government, ending a 20-year dispute over Lagos's MMA2 private airport terminal.
Equity Life Assurance Kenya hits record Ksh1.24 billion profit in 2025
Equity Life Assurance Kenya posted a record Ksh1.24 billion profit after tax in 2025, driven by a 40% surge in gross written premiums and 19.2 million cumulative policies.
Uganda's motorsport community gather to honor Rajiv Ruparelia, son of billionaire Sudhir Ruparelia, one year after his death
Uganda's motorsport community gathered on May 3 to honor Rajiv Ruparelia, son of billionaire Sudhir Ruparelia, one year after his death.
Kenyan businesswoman Mary Wambui sues Google to scrub news articles about her $16.9 million tax fraud case from search results after the charges were dropped in 2023
Kenyan businesswoman Mary Wambui has sued Google in the High Court to remove search results about her Sh2.2 billion ($16.9 million) tax evasion case, which was dropped in January 2023.
Patrick Bitature's "hotels are just a laundry business" comment backfires as Ugandans remind him of his unresolved $10 million debt dispute
Patrick Bitature called hotels a "laundry business" in a viral video and was immediately met with scepticism from Ugandans who pointed to his unresolved $10 million debt dispute over hotel assets.
Nigerian businesswoman Kofo Akinkugbe's SecureID opens East Africa's first smart card factory, commits $20 million to expansion
SecureID Kenya founder Kofo Akinkugbe has opened East Africa's first smart card factory in Nairobi, pledging $20 million and 400 jobs as operations scale.
Tanzanian billionaire Edha Nahdi commits $35 million to build 10 mother-and-child hospitals across Kenya in the largest private-sector health grant in the country's history
Tanzanian billionaire Edha Nahdi has pledged $35 million to build 10 Level 4 mother-and-child hospitals across Kenya in the largest private health grant in the country's history.
Court freezes David Langat's land in Kericho, Eldoret and Nandi over Sh87 million vehicle loan debt that the Ruto ally has been dodging since 2016
A Kenyan court has frozen 3 land parcels belonging to David Langat and his spouse after a creditor sued to recover Sh87 million in vehicle loans that have gone unpaid since 2016.
Hassanein Hiridjee's Axian Group buys five Letshego units in pan-African banking push
Madagascar billionaire Hassanein Hiridjee's Axian Group is buying five Letshego banking subsidiaries in Ghana, Tanzania, Nigeria, Rwanda and Uganda, deepening its pan-African banking footprint.
Evidence emerges that Zanu PF held a secret 45 percent stake in tycoon Kudakwashe Tagwirei's Sakunda Holdings
Leaked financial records partially support claims that Zanu PF held a hidden 45 percent stake in Kudakwashe Tagwirei's Sakunda Holdings.
Angolan tycoon Álvaro Sobrinho suspected of bribing Lisbon Appeal Court judge to free impounded property empire
Angolan-Portuguese businessman Álvaro Sobrinho is suspected of paying a Lisbon appeal court judge to release his impounded 80 million euro property empire.
South Africa's Mining BEE has created 46 billionaires whose identities the public does not know — Report
South Africa's mining BEE program has created at least 46 billionaires, but their names and accumulated wealth remain hidden from public view.
Residents of Jamestown, the old community hemmed in by Stellenbosch's billionaire estates, march against a mayor who didn't show up to collect their petition
Residents of Jamestown, a historic community inside South Africa's wealthiest municipality, marched on May 1 against gentrification and municipal neglect as the mayor failed to show up for their petition.
Discovery founder Adrian Gore joins Business Leadership South Africa board
Discovery founder and CEO Adrian Gore has been appointed to the new Business Leadership South Africa board as the organisation enters a fresh three-year cycle with new members.
South African billionaire Sandile Zungu, ex-Glencore trader Jason Kluk to take over Sumitomo's failed Madagascar nickel mine
Former Glencore nickel trader Jason Kluk and South African billionaire Sandile Zungu are acquiring Sumitomo's 54% stake in Madagascar's Ambatovy nickel mine, which has cost the Japanese company $2.6 billion in cumulative losses.
UAE-based African Rail is raising $170 million to run freight trains on South Africa's broken rail network
UAE-based African Rail Co. is raising $170 million to buy locomotives and wagons for South Africa's newly privatized freight rail network, targeting the Durban and Mozambique corridors.
South African tycoon Tshepo Mahloele will collect $22 million from Capitec's record dividend
Tshepo Mahloele will collect $22 million from Capitec's record R9.27 billion dividend, despite recently selling $840 million worth of shares and cutting his stake to 3.85%.
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.
Latest Posts
Trump's mining push in DR Congo puts sanctioned Israeli billionaire Dan Gertler back at the center of a $9 billion deal
Donald Trump's Congo mining push is stalled over sanctioned billionaire Dan Gertler, whose royalties are blocking a $9 billion Glencore copper and cobalt deal.
Equity Life Assurance Kenya hits record Ksh1.24 billion profit in 2025
Equity Life Assurance Kenya posted a record Ksh1.24 billion profit after tax in 2025, driven by a 40% surge in gross written premiums and 19.2 million cumulative policies.
Ernest Obiejesi's Nestoil $2.1 billion debt blocks dividends at 3 banks
Ernest Obiejesi's Nestoil owes Nigerian banks approximately N2.9 trillion ($2 billion) and the CBN has blocked dividends at UBA, Access Holdings and FCMB until the loans are fully provisioned.
African Wealth Briefing — Mon., May 4, 2026
Tony Elumelu calls on Nigeria's government to act on anti-migrant violence in South Africa, Abba Mangal emerges as the APC candidate for Katsina Central in a generational handover from his billionaire father Dahiru, and Atedo Peterside warns of a 2027 legitimacy crisis.
Uganda's motorsport community gather to honor Rajiv Ruparelia, son of billionaire Sudhir Ruparelia, one year after his death
Uganda's motorsport community gathered on May 3 to honor Rajiv Ruparelia, son of billionaire Sudhir Ruparelia, one year after his death.
Billionaire property developer Hisham Talaat Moustafa warns Egypt's new real estate fees could push project costs up by 15 percent
New Egyptian real estate fees could push project costs up by 15 percent, developers including Talaat Moustafa warn, adding to already elevated costs.
Evidence emerges that Zanu PF held a secret 45 percent stake in tycoon Kudakwashe Tagwirei's Sakunda Holdings
Leaked financial records partially support claims that Zanu PF held a hidden 45 percent stake in Kudakwashe Tagwirei's Sakunda Holdings.
Dangote Petroleum Refinery recalls 800 engineers after union dispute, issues conditional pardon
Dangote Petroleum Refinery has recalled around 800 engineers previously redeployed following a labour union dispute, granting a conditional pardon.
Jay-Z's Armand de Brignac caught in Moet Hennessy crisis
Jay-Z's Armand de Brignac champagne brand is among the acquisitions under review as Moët Hennessy cuts jobs and confronts a deep strategic crisis.
Angolan tycoon Álvaro Sobrinho suspected of bribing Lisbon Appeal Court judge to free impounded property empire
Angolan-Portuguese businessman Álvaro Sobrinho is suspected of paying a Lisbon appeal court judge to release his impounded 80 million euro property empire.
Executive Insight: Where the African Money Is Going — London’s Quiet Loss of UHNW African Wealth After the Non-Dom Reform
Sawiris's London office closure marks the end of a quiet migration of African UHNW wealth to Italy, the UAE, and Switzerland after the UK abolished its non-dom regime in April 2025.
The Inside Report: Moody’s Surrenders Its South African License as Global Ratings Pull Back from Africa
Moody's has surrendered its South African credit rating license after 32 years, leaving GCR — the pan-African agency Moody's itself fully owns — to fill the domestic gap as global ratings retreat from Africa.
African Wealth Briefing — Sun., May 3, 2026
Sandile Zungu and Jason Kluk take over Sumitomo's failed Madagascar nickel mine, Mahama's Damang Mine delivers its first gold to the Bank of Ghana, and Dangote denies an Elumelu rift.
Dangote Group calls reports of rift with Tony Elumelu false and malicious
The Dangote Group has dismissed reports alleging a rift between Aliko Dangote and Tony Elumelu, threatening legal action against anyone spreading the claims.
South Africa's Mining BEE has created 46 billionaires whose identities the public does not know — Report
South Africa's mining BEE program has created at least 46 billionaires, but their names and accumulated wealth remain hidden from public view.
Billionaire Dr. Dre and Snoop Dogg take their Still G.I.N. brand into Applebee's with two new cocktails
Dr. Dre and Snoop Dogg have partnered with Applebee's to launch two Still G.I.N. cocktails at more than 1,500 locations across the United States.
