Featured
Egyptian football star Mohamed Salah set to receive Turkish citizenship and state medal
Mohamed Salah, his wife and three children are set to receive Turkish citizenship, three months after the Egypt captain joined Trabzonspor on a two-year deal.
Editors' Picks
South African billionaire Patrice Motsepe's GoTyme bank targets 30 million customers by 2036
GoTyme, the digital lender backed by South African billionaire Patrice Motsepe, aims to overtake Capitec as the country's biggest bank by customers by 2036.
South Africa’s van der Walt brothers see WeBuyCars lose $516 million to cheap Chinese cars
WeBuyCars, the used-car dealer founded by South African tycoons Faan and Dirk van der Walt, has lost about R8.6 billion in market value this year.
Egyptian football star Mohamed Salah set to receive Turkish citizenship and state medal
Mohamed Salah, his wife and three children are set to receive Turkish citizenship, three months after the Egypt captain joined Trabzonspor on a two-year deal.
Exclusive Content For Paid Supporters
Deep-Dive Report: The November Rich List — How Dangote Pulled $24 Billion Ahead, Why Rupert Fell, and What Moves Africa's Ten Largest Fortunes
Africa's ten richest are worth $142.5 billion, up $21.2 billion since September, and Aliko Dangote accounts for 39% of it. The other nine together lost ground. A name-by-name deep-dive on what drives each fortune, why the estimates differ, and what could move the list next.
The Inside Story: The Banker of the Sahel — How Idrissa Nassa Turned a Struggling Ouagadougou Lender Into a $9 Billion Group, and What His Push Into Central Africa Will Test
Idrissa Nassa started out trading bicycle parts in 1984. In 2001 he bought a struggling Burkinabe lender, and today Coris has about $9 billion in assets and a share price up 196% this year. How the trader built the bank, and what his move into Central Africa will test.
Wealth Intelligence: The Heirs — How the Rupert, Oppenheimer and Le Roux Families Are Passing On $30 Billion, and What Succession Means for Richemont, Capitec and South African Capital
Johann Rupert is 76, Nicky Oppenheimer 81 and Michiel le Roux 77. Between them they control about $30 billion, and each family is handing over in a different way. How the structures work, what the heirs have done, and what succession means for Richemont, Capitec and their investors.
Egyptian billionaire Nassef Sawiris wins shareholder approval to merge OCI with Orascom Construction
OCI shareholders have approved its combination with Orascom Construction, advancing Egyptian billionaire Nassef Sawiris’s plan to create a broader infrastructure and investment platform.
Egyptian billionaire Ahmed Elsewedy's Elsewedy Electric moves into elevators
Elsewedy Electric, the industrial group run by Egyptian tycoon Ahmed Elsewedy, has launched an elevator brand and wants 1 billion pounds in sales in 2027.
Egyptian billionaire Nassef Sawiris wins apology from TV pundit Jamie Carragher
TV pundit Jamie Carragher apologized to Aston Villa, its owners and fans less than 24 hours after Egyptian billionaire Nassef Sawiris threatened legal action.
Egyptian pharma tycoon Ahmed Abu Al-Naga sells half of ATCO for $50 million
Private equity firm RMBV is taking 50% of ATCO Pharma, the Egyptian drugmaker run by Ahmed Abu Al-Naga, in a $50 million deal.
Egyptian billionaire Hassan Allam’s group expands EastHills with $500 million construction contract
Egyptian billionaire Hassan Allam’s group has awarded its construction arm an additional $500 million in works for Phase II of Grova EastHills, taking the project’s combined construction contracts above $1 billion.
Egyptian billionaire Naguib Sawiris launches own hotel brand with $112 million Mykonos resort
Egyptian billionaire Naguib Sawiris is passing over global hotel chains and launching his own ultra-luxury brand, starting with a €100 million resort on Mykonos.
Egyptian billionaire Hisham Talaat Moustafa's TMG signs $202 billion government deal
Hisham Talaat Moustafa's TMG will develop four mixed-use projects worth EGP 11 trillion with the Egyptian state, sending its shares up about 7% in Cairo.
Egyptian fintech tycoon Mounir Nakhla's MNT-Halan valued at $775 million on stock debut
Shares of MNT-Halan, the fintech group founded and run by Mounir Nakhla, closed 6.6% above the IPO price on their first day of trading.
Ivorian tycoon Koné Dossongui brings private equity investor into his insurance group
Mediterrania Capital Partners has invested in AFG Assurances, the insurance arm of Koné Dossongui's Atlantic Group, which plans to double to 14 insurers.
Nigerian billionaire Aliko Dangote's refinery takes in a record 735,000 barrels a day
Crude deliveries to Aliko Dangote's refinery near Lagos climbed to a record 735,000 barrels a day in October, as US oil filled a larger share.
Nigerian billionaire Mike Adenuga’s Conoil posts 262% jump in nine-month profit
Conoil Plc, the fuel marketer controlled by Nigerian billionaire Mike Adenuga, more than tripled its nine-month profit as revenue rose 37% to ₦280 billion.
Burkina Faso tycoon Mahamadou Bonkoungou’s $1.2 billion Gabon contracts face calls for audit
Gabonese opposition politician Michel Ongoundou Loundah has called for the publication of contracts awarded to Burkinabe tycoon Mahamadou Bonkoungou's Ebomaf group.
Nigerian billionaire Aliko Dangote's cement sales in Cameroon fall 9.8%
Aliko Dangote's cement company sold 9.8% less cement in Cameroon in the first nine months of 2026, its second straight yearly decline there.
How Nigerian billionaire Johnbull Ejovi built a $100 million-a-year offshore oil services business
Nigerian tycoon Johnbull Ejovi turned a small Warri marine company into Ejovi Offshore, a family-run oil services group with about $100 million in annual revenue.
Nigerian banker Aig-Imoukhuede's firms supply Access Holdings, which he chairs, for undisclosed fees
Access Holdings disclosed five service providers linked to its chairman, Aig-Imoukhuede, including his Coronation Group, without saying how much it paid any of them.
Ghanaian billionaire Ibrahim Mahama's promised football pitch takes shape near Damang gold mine
Construction is advancing on the astroturf football pitch Ghanaian billionaire Ibrahim Mahama promised Damang residents when his company took over the gold mine in April.
Kenyan billionaire Narendra Raval’s $539 million Kitui cement plant to create 4,000 jobs
Kenyan President William Ruto valued Narendra Raval’s Kitui cement plant at Sh70 billion ($539 million) and said it will create 4,000 jobs.
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.
South African billionaire Patrice Motsepe's GoTyme bank targets 30 million customers by 2036
GoTyme, the digital lender backed by South African billionaire Patrice Motsepe, aims to overtake Capitec as the country's biggest bank by customers by 2036.
South Africa’s van der Walt brothers see WeBuyCars lose $516 million to cheap Chinese cars
WeBuyCars, the used-car dealer founded by South African tycoons Faan and Dirk van der Walt, has lost about R8.6 billion in market value this year.
US to strip South Africa of duty-free access on $1.7 billion of exports
The US will remove South Africa and Rwanda from its duty-free trade programme on Jan. 1, hitting South African citrus, wine and farm exporters.
Cape Town runs short of luxury homes as millionaires move in
Millionaires from Johannesburg and abroad are competing for a shrinking supply of luxury homes in Cape Town, with some houses selling within days of listing.
Billionaire Patrice Motsepe’s GoTyme eyes $15 billion listing as it chases Capitec
Patrice Motsepe-backed GoTyme wants 30 million South African customers by 2036, enough to overtake Capitec, and eyes a listing valued above $15 billion.
South African billionaire Christo Wiese's Invicta warns half-year earnings could fall 29%
Invicta Holdings, the industrial parts group chaired by South African billionaire Christo Wiese, expects headline earnings per share to fall by up to 29%.
South African billionaire Sandile Zungu's group loses $10.8 billion lottery licence in court
A South African court has set aside the National Lottery licence awarded to Sizekhaya Holdings, the group led by AmaZulu FC owner Sandile Zungu.
South African tycoon Stephen Saad's Aspen sells menopause drug rights for $220 million
Aspen Pharmacare, led by South African tycoon Stephen Saad, is selling the European rights to its menopause treatment Ovestin to Ennogen for €197 million.
Ethiopian billionaire Mohammed Al-Amoudi's Nyala Insurance tops $6 million in profit
Nyala Insurance, the Ethiopian insurer co-founded by billionaire Mohammed Al-Amoudi, says annual profit passed 1 billion birr as paid-up capital topped 2 billion birr.
Somali tycoon Abdirashid Duale's Dahabshiil to sell Chinese carmaker Chery's cars in Somalia
Dahabshiil Motors, the car arm of Abdirashid Duale's Dahabshiil Group, has signed a deal to become an authorized dealer for China's Chery in Somalia.
Billionaire Mohammed Al-Amoudi accused of funding al-Qaeda in secret Pentagon report
A classified 2002 Pentagon report names billionaire Mohammed Al-Amoudi in an alleged money trail to Osama bin Laden, Swedish broadcaster SVT reports. He denies it.
Ethiopian billionaire Mohammed Al-Amoudi's failed refinery cost Morocco $7 billion
Mohammed Al-Amoudi bought Morocco's only refinery for 4 billion dirhams in 1997. It shut in 2015 owing over $4 billion and has never reopened.
Billionaire Mohammed Al-Amoudi orders his conglomerate to hire 40,000 more Ethiopians
Mohammed Al-Amoudi has instructed MIDROC's chief executive to lift the workforce from about 80,000 to between 100,000 and 120,000 employees.
Tewodros Ashenafi is the man foreign companies use to get into Ethiopia
Tewodros Ashenafi was the local partner on Ethiopia's largest privatisation, a $1.4 billion tobacco deal, and co-owns Ambo with Coca-Cola.
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.
Latest Posts
South African billionaire Patrice Motsepe's GoTyme bank targets 30 million customers by 2036
GoTyme, the digital lender backed by South African billionaire Patrice Motsepe, aims to overtake Capitec as the country's biggest bank by customers by 2036.
South Africa’s van der Walt brothers see WeBuyCars lose $516 million to cheap Chinese cars
WeBuyCars, the used-car dealer founded by South African tycoons Faan and Dirk van der Walt, has lost about R8.6 billion in market value this year.
Egyptian football star Mohamed Salah set to receive Turkish citizenship and state medal
Mohamed Salah, his wife and three children are set to receive Turkish citizenship, three months after the Egypt captain joined Trabzonspor on a two-year deal.
Ivorian tycoon Koné Dossongui brings private equity investor into his insurance group
Mediterrania Capital Partners has invested in AFG Assurances, the insurance arm of Koné Dossongui's Atlantic Group, which plans to double to 14 insurers.
US to strip South Africa of duty-free access on $1.7 billion of exports
The US will remove South Africa and Rwanda from its duty-free trade programme on Jan. 1, hitting South African citrus, wine and farm exporters.
Nigerian billionaire Aliko Dangote's refinery takes in a record 735,000 barrels a day
Crude deliveries to Aliko Dangote's refinery near Lagos climbed to a record 735,000 barrels a day in October, as US oil filled a larger share.
Indian billionaire heir Anant Ambani's rebuffed by UK officials
British officials told ministers not to engage formally with Vantara, the zoo run by Mukesh Ambani's son Anant, after lobbyists approached the government.
American billionaire Larry Ellison loses $11 billion as Oracle shares drop 8.8%
Larry Ellison’s fortune fell by $11 billion as Oracle shares dropped 8.8%, following the company’s announcement of a $20 billion fundraising plan to support its artificial intelligence expansion.
Nigerian billionaire Mike Adenuga’s Conoil posts 262% jump in nine-month profit
Conoil Plc, the fuel marketer controlled by Nigerian billionaire Mike Adenuga, more than tripled its nine-month profit as revenue rose 37% to ₦280 billion.
Burkina Faso tycoon Mahamadou Bonkoungou’s $1.2 billion Gabon contracts face calls for audit
Gabonese opposition politician Michel Ongoundou Loundah has called for the publication of contracts awarded to Burkinabe tycoon Mahamadou Bonkoungou's Ebomaf group.
Nigerian billionaire Aliko Dangote's cement sales in Cameroon fall 9.8%
Aliko Dangote's cement company sold 9.8% less cement in Cameroon in the first nine months of 2026, its second straight yearly decline there.
Uganda’s richest man Sudhir Ruparelia to open 19-acre island resort on Lake Victoria
Ruparelia Group's Paradise Island Resort, a 38-unit retreat on a private island in Lake Victoria, opens Dec. 1, more than five years after construction began.
Canadian billionaire Robert Friedland approves $322 million US-backed scandium mine
Robert Friedland’s Sunrise Energy Metals will build the $322 million Syerston scandium mine in Australia, backed by up to $400 million in conditional U.S. debt.
American billionaire Max Levchin, worth $2.3 billion, may quit California over 5% wealth tax
Affirm co-founder Max Levchin says he would probably leave California if voters pass Proposition 40, a one-time 5% tax on billionaires’ net worth.
Cape Town runs short of luxury homes as millionaires move in
Millionaires from Johannesburg and abroad are competing for a shrinking supply of luxury homes in Cape Town, with some houses selling within days of listing.
Billionaire Patrice Motsepe’s GoTyme eyes $15 billion listing as it chases Capitec
Patrice Motsepe-backed GoTyme wants 30 million South African customers by 2036, enough to overtake Capitec, and eyes a listing valued above $15 billion.
