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EFCC transfers $60 million recovered from Ernest Azudialu-Obiejesi's Nestoil to lenders
Nestoil has paid $60 million to its lenders under an EFCC-brokered plan, ten weeks after the Supreme Court dissolved its asset freeze.
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EFCC transfers $60 million recovered from Ernest Azudialu-Obiejesi's Nestoil to lenders
Nestoil has paid $60 million to its lenders under an EFCC-brokered plan, ten weeks after the Supreme Court dissolved its asset freeze.
Football's only two billionaires, Cristiano Ronaldo and Lionel Messi, are both nearing the end
Cristiano Ronaldo says this is probably his last season. Lionel Messi has voiced doubts after his father's death. Both are billionaires.
Egypt's billionaire Elsewedy family is building a $1 billion phosphate complex at Ain Sokhna
Egypt's petroleum minister met Ahmed El-Sewedy to accelerate a $1 billion phosphate fertiliser complex being built at Ain Sokhna.
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The Inside Story: The Unfinished University — Herbert Wigwe Planned a $500 Million Campus for 1,400 Students, Died Before It Opened, and Left Behind 300 and a Question About Legacy
Herbert Wigwe built one of Africa's great banks, then poured a reported $500 million into the project he called his most ambitious: a world-class university in his home town.
Deep-Dive Report: Made in Egypt — Inside Nagy Toma's Dice Group, the Vertically Integrated Machine Stitching 20 Million Garments a Year for Benetton, Decathlon and Inditex
As global brands hunt for factories closer to home than Asia, Dice Group is a live case study in whether Egypt can become the workshop between Europe and America.
Investor Memo: The $29 Billion Exit — How Eswatini's Nathan Kirsh Sold His Invisible Cash-and-Carry Empire to Sysco and Crossed $20 Billion
A 94-year-old you have probably never heard of just crossed $20 billion. The anatomy of the quietest mega-deal in Africa's wealth history, and the lesson in the value of the unglamorous.
Egypt's billionaire Elsewedy family is building a $1 billion phosphate complex at Ain Sokhna
Egypt's petroleum minister met Ahmed El-Sewedy to accelerate a $1 billion phosphate fertiliser complex being built at Ain Sokhna.
Egyptian tycoon Nagy Toma's factories make 20 million garments a year for Benetton and Decathlon
Nagy Toma's Dice Group runs six Egyptian factories and 8,500 workers, making 20.4 million garments a year for brands including Benetton.
Turkish billionaire Fuat Tosyalı's Algerian plant sets a world iron production record
Tosyali Algerie produced 248,601 tonnes of iron in May, a world record for a single Midrex plant and Algeria's biggest non-oil exporter.
Egyptian billionaire Hisham Talaat Moustafa's TMG books $3.4 billion of sales in a single quarter
Hisham Talaat Moustafa's TMG lifted half-year net profit 23% and booked $3.4 billion of contracted sales in the second quarter alone.
Nassef Sawiris's Aston Villa set to reject Arsenal's £40 million bid for Ezri Konsa
Egyptian billionaire Nassef Sawiris's Aston Villa is set to reject Arsenal's £40 million offer for defender Ezri Konsa, who is reportedly open to the move.
Egyptian billionaire Ahmed Elsewedy's Elsewedy Electric lifts sales 37% as margins narrow
Elsewedy Electric, run by Egyptian billionaire Ahmed El-Sewedy, grew quarterly sales 37% while net income rose 12% and the stock fell 2%.
Egypt's wealthy Khamis family nearly doubles Oriental Weavers profit on export subsidy windfall
Oriental Weavers, controlled by Egypt's Khamis family, nearly doubled quarterly profit as US and European buyers offset weak demand at home.
Egypt's billionaire El-Sewedy family will supply the transformers for a giant New Zealand AI hub
Elsewedy Electric, controlled by Egypt's billionaire El-Sewedy family, will build the transformers for a planned New Zealand AI data centre.
EFCC transfers $60 million recovered from Ernest Azudialu-Obiejesi's Nestoil to lenders
Nestoil has paid $60 million to its lenders under an EFCC-brokered plan, ten weeks after the Supreme Court dissolved its asset freeze.
Nigerian cocoa magnate Kayode Ogunsua ships 20,000 tonnes a year and owns $30 million FCMB stake
Kayode Ogunsua ships more than 20,000 tonnes of cocoa a year, and his company holds 3.43 billion FCMB shares worth $30 million.
Late Nigerian banker Herbert Wigwe's university has a fifth of the students he planned
Herbert Wigwe planned 1,400 students in his university's first year. As tributes marked his 60th birthday, it has about 300.
Dangote's sugar company raises $356 million in oversubscribed rights issue after years of losses
Aliko Dangote's Dangote Sugar Refinery has raised $356 million in an oversubscribed rights issue to cut debt and expand local production after years of losses.
Aliko Dangote's $5 billion refinery IPO will list in Nigeria alone for at least three years
Dangote's refinery has applied for a $5 billion IPO aimed at Nigerian retail investors, with no foreign listing for at least three years.
Africa Finance Corporation takes equity in Aliko Dangote's refinery after recovering its $300 million loan
Africa Finance Corporation has taken equity in Aliko Dangote's oil refinery through its $2.5 billion placement, months after the refinery repaid a $300 million loan.
Burkinabè billionaire Mahamadou Bonkoungou won $1.2 billion of Gabon contracts in three years
Mahamadou Bonkoungou's Ebomaf claims more than 700 billion CFA francs of Gabon public contracts, a figure no state body has verified.
Nigerian tycoon Wale Tinubu is drilling 62 wells to more than double Oando's output
Oando's Wale Tinubu has identified 62 development wells to lift output to 100,000 barrels of oil equivalent a day from 42,789.
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
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.
Zimbabwean tycoon Billy Rautenbach may bid for the safari camp his rival was forced to leave
ZimParks will tender Chewore Lodge after courts voided Terry Kelly's lease. Billy Rautenbach's Big Five Safaris can bid for it.
Eswatini billionaire Nathan Kirsh crosses $20 billion, becoming the third African to reach the mark
Eswatini billionaire Nathan Kirsh has crossed $20 billion, becoming the third African past the mark, after selling his Restaurant Depot business to Sysco.
Brett and Mark Levy's Blu Label warns earnings will crater more than 80%, but only on paper
Blu Label, led by tycoons Brett and Mark Levy, expects earnings to fall more than 80% and swing to a loss for the year.
Elon Musk's SpaceX turns Alphabet's $900 million investment into $94 billion, a 100-fold return in 10 years
Alphabet's $900 million bet on SpaceX in 2015 has grown more than 100-fold to $94 billion, making Google's parent the largest single institutional holder of Elon Musk's rocket company.
South African billionaire Christo Wiese says the infamous Stellenbosch Mafia controls nothing
Christo Wiese told a conference that members of the so-called Stellenbosch Mafia may be mafiosi but control nothing in South Africa.
South African billionaire Rob Hersov calls the country uninvestable and is investing anyway
Rob Hersov told a conference South Africa is uninvestable because of its illicit economy, while backing three new local ventures.
South African billionaire Patrice Motsepe says only an election can remove FIFA's Infantino
CAF president Patrice Motsepe says FIFA's 211 members should decide Gianni Infantino's future at the ballot box, not his critics.
South African tycoon Adrian Gore sets out the four principles behind Discovery's rise
Discovery founder Adrian Gore has published a book on leadership endorsed by BlackRock's Larry Fink and Alphabet's Ruth Porat.
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.
Latest Posts
EFCC transfers $60 million recovered from Ernest Azudialu-Obiejesi's Nestoil to lenders
Nestoil has paid $60 million to its lenders under an EFCC-brokered plan, ten weeks after the Supreme Court dissolved its asset freeze.
African Wealth Briefing — Mon., Aug. 17, 2026
Nathan Kirsh, a 94-year-old few outside the trade had heard of, crossed $20 billion — the third African ever — after agreeing to sell his cash-and-carry empire to Sysco for $29.1 billion.
The Inside Story: The Unfinished University — Herbert Wigwe Planned a $500 Million Campus for 1,400 Students, Died Before It Opened, and Left Behind 300 and a Question About Legacy
Herbert Wigwe built one of Africa's great banks, then poured a reported $500 million into the project he called his most ambitious: a world-class university in his home town.
Deep-Dive Report: Made in Egypt — Inside Nagy Toma's Dice Group, the Vertically Integrated Machine Stitching 20 Million Garments a Year for Benetton, Decathlon and Inditex
As global brands hunt for factories closer to home than Asia, Dice Group is a live case study in whether Egypt can become the workshop between Europe and America.
Investor Memo: The $29 Billion Exit — How Eswatini's Nathan Kirsh Sold His Invisible Cash-and-Carry Empire to Sysco and Crossed $20 Billion
A 94-year-old you have probably never heard of just crossed $20 billion. The anatomy of the quietest mega-deal in Africa's wealth history, and the lesson in the value of the unglamorous.
Football's only two billionaires, Cristiano Ronaldo and Lionel Messi, are both nearing the end
Cristiano Ronaldo says this is probably his last season. Lionel Messi has voiced doubts after his father's death. Both are billionaires.
Egypt's billionaire Elsewedy family is building a $1 billion phosphate complex at Ain Sokhna
Egypt's petroleum minister met Ahmed El-Sewedy to accelerate a $1 billion phosphate fertiliser complex being built at Ain Sokhna.
Nigerian cocoa magnate Kayode Ogunsua ships 20,000 tonnes a year and owns $30 million FCMB stake
Kayode Ogunsua ships more than 20,000 tonnes of cocoa a year, and his company holds 3.43 billion FCMB shares worth $30 million.
Egyptian tycoon Nagy Toma's factories make 20 million garments a year for Benetton and Decathlon
Nagy Toma's Dice Group runs six Egyptian factories and 8,500 workers, making 20.4 million garments a year for brands including Benetton.
Billionaire Peter Thiel acquires $76 million stake in an Argentine shale oil producer
Peter Thiel's hedge fund bought about 1% of Vista Energy for $76 million, four months after he met Argentine President Javier Milei.
Late Nigerian banker Herbert Wigwe's university has a fifth of the students he planned
Herbert Wigwe planned 1,400 students in his university's first year. As tributes marked his 60th birthday, it has about 300.
Zimbabwean tycoon Billy Rautenbach may bid for the safari camp his rival was forced to leave
ZimParks will tender Chewore Lodge after courts voided Terry Kelly's lease. Billy Rautenbach's Big Five Safaris can bid for it.
Turkish billionaire Fuat Tosyalı's Algerian plant sets a world iron production record
Tosyali Algerie produced 248,601 tonnes of iron in May, a world record for a single Midrex plant and Algeria's biggest non-oil exporter.
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.
Dangote's sugar company raises $356 million in oversubscribed rights issue after years of losses
Aliko Dangote's Dangote Sugar Refinery has raised $356 million in an oversubscribed rights issue to cut debt and expand local production after years of losses.
Eswatini billionaire Nathan Kirsh crosses $20 billion, becoming the third African to reach the mark
Eswatini billionaire Nathan Kirsh has crossed $20 billion, becoming the third African past the mark, after selling his Restaurant Depot business to Sysco.
