Featured
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.
Editors' Picks
Two South African billionaires are backing a new 5G network
Chris Otto's family office and Dimension Data co-founder Richard Came have backed Comsol's wholesale 5G network, launching this month.
Egyptian billionaire Nassef Sawiris lifts his OCI stake to 57.5% in takeover push
Nassef Sawiris bought a further 320,708 OCI shares on Wednesday, taking his combined holding to 57.5% as his takeover offer proceeds.
Egyptian billionaire Naguib Sawiris takes the chair at Orascom Investment and lends it $10 million
Naguib Sawiris has become chairman of Orascom Investment Holding, whose shareholders approved a loan of up to $10 million from its principal owner.
Exclusive Content For Paid Supporters
The Inside Story: From the Garage — How School Dropout Justin Stanford Built a Cybersecurity Firm From Nothing, Then Seeded VALR, Wasoko and Aerobotics
Justin Stanford left school alone as a teenager, built a cybersecurity firm from a Cape Town garage, then spent 15 years seeding the companies that became African tech — VALR, Wasoko, Aerobotics. He isn't a billionaire. He may be the man who built the ground they stand on.
Deep-Dive Report: More Than Ore — How Daphne Mashile-Nkosi Spent $1.3 Billion Building the World's Largest Sinter Plant to Keep South Africa's Manganese Value at Home
South Africa ships ~80% of its manganese out as raw rock. Daphne Mashile-Nkosi spent two decades and $1.3 billion refusing to — building the world's largest sinter plant on bare Kalahari earth. Inside the beneficiation bet African mining is still arguing about.
Wealth Intelligence: The Great Unwind — How Nassef Sawiris Took OCI Apart, Paid Out Billions, and Is Now Buying Back the Shell to Take It Private
Nassef Sawiris spent two years selling off OCI's fertiliser and methanol empire and paying shareholders billions. Now he's buying back the shell at a 2% premium to take it private. The lesson: value is realised by what you sell, not what you hold.
Egyptian billionaire Nassef Sawiris lifts his OCI stake to 57.5% in takeover push
Nassef Sawiris bought a further 320,708 OCI shares on Wednesday, taking his combined holding to 57.5% as his takeover offer proceeds.
Egyptian billionaire Naguib Sawiris takes the chair at Orascom Investment and lends it $10 million
Naguib Sawiris has become chairman of Orascom Investment Holding, whose shareholders approved a loan of up to $10 million from its principal owner.
Billionaire Anas Sefrioui to acquire Servier's Moroccan business
Anas Sefrioui's Pharma Capital will take full ownership of Servier's Moroccan subsidiaries, subject to Competition Council approval.
Egyptian billionaire Yasseen Mansour's Palm Hills lifts revenue 25% as profit falls 7%
Palm Hills, chaired by Egyptian billionaire Yasseen Mansour, lifted half-year revenue 25.4% while net income fell 7% on thinner margins.
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.
Wealthy Nigerian politician Abdulaziz Yari personally settles Geregu Power's defaulted bond
Geregu Power chairman Abdulaziz Yari has personally provided the funds to clear the company's N40.09 billion ($29 million) bond after a recent default.
Gaming mogul Mr Eazi plans an NGX listing
Mr Eazi told Nairametrics he intends to list a technology company on the Nigerian Exchange, citing Dangote, Rabiu and Otedola as inspiration.
Aliko Dangote is $5 billion richer since the Iran war closed the Strait of Hormuz
Aliko Dangote's Lagos refinery has become Europe's largest supplier of jet fuel and diesel since Iran closed the Strait of Hormuz.
Nigerian billionaire Aliko Dangote to run Kano vocational center in 20-year deal
The Nigerian billionaire has signed a 20-year deal with the Kano State Government to revive the Aliko Dangote Vocational Training Centre for young people.
Nigerian billionaire Aliko Dangote's refinery secures $1 billion backing ahead of planned IPO
Aliko Dangote's petroleum refinery has completed a $1 billion underwriting program, including a funded $600 million private placement, ahead of its planned initial public offering.
Nigerian energy tycoon Olakunle Williams's Tetracore crosses 1 million safe man-hours
Olakunle Williams's Tetracore Energy has logged 1 million cumulative work hours without a lost-time injury, fatality or major incident while expanding across Nigeria and Ghana.
Billionaire Femi Otedola spends another $14.9 million on First HoldCo as stake hits 27.5%
Femi Otedola bought 147.7 million First HoldCo shares at N140, lifting his stake to about 27.5% and his holding past 12.2 billion shares.
Cameroonian billionaire Paul Fokam Kammogne's Congolese bank is $117 million in the red
Afriland First Bank RDC has negative equity of $116.9 million four years after Paul Fokam Kammogne's group was pushed out by regulators.
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
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.
South African-born billionaire Patrick Soon-Shiong will keep his Lakers stake amid Buss family feud
The South African-born billionaire says he will not sell his minority Lakers stake and intends to partner with incoming owners Bob Iger and Josh Kushner.
Two South African billionaires are backing a new 5G network
Chris Otto's family office and Dimension Data co-founder Richard Came have backed Comsol's wholesale 5G network, launching this month.
How South African Venture Capitalist Justin Stanford built a $37 million early-stage fund
Justin Stanford dropped out of school on a Western Cape apple farm, built a pan-African cybersecurity company from a garage, and launched 4Di Capital, the early-stage fund that seeded Wasoko, Aerobotics and VALR.
South African motor group CMH to pay directors $46 million for 13 dealerships
Combined Motor Holdings will pay three of its executive directors and their family trusts R745 million ($46 million) for 13 dealership properties it already leases.
Namibian tycoon Quinton van Rooyen fends off second bid to oust Trustco board
Trustco shareholders rejected Riskowitz's bid to replace the board, a second failed attempt in six months to remove Namibian tycoon Quinton van Rooyen.
South African billionaire Saltzman family's Dis-Chem sheds $432 million in three months
Dis-Chem has lost about $432 million (R7 billion) in market value in three months as the billionaire Saltzman family relinquished control following weak annual results.
South African tycoon Daphne Mashile-Nkosi built a $1.3 billion manganese complex from nothing
Daphne Mashile-Nkosi started with no collateral and built a $1.3 billion manganese complex housing the world's largest sinter plant.
Tycoon Bassim Haidar's Optasia has lost 40% since February after Nigeria suspended its core service
Optasia has fallen about 40% from its February peak after Nigeria suspended airtime credit and founder Bassim Haidar cut his stake.
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
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.
Kenyan billionaire Adil Popat's Simba Corp partners with Absa to expand vehicle financing
Absa Bank Kenya has partnered with billionaire Adil Popat's Simba Corporation to finance up to 100 percent of vehicles and farm equipment for buyers.
South African-born billionaire Patrick Soon-Shiong will keep his Lakers stake amid Buss family feud
The South African-born billionaire says he will not sell his minority Lakers stake and intends to partner with incoming owners Bob Iger and Josh Kushner.
Billionaire Harold Hamm launches a multibillion-dollar plan to drill Argentine shale
The US oil billionaire's Continental Resources is buying half of Phoenix Global Resources and plans to invest $4 billion drilling Argentina's Vaca Muerta shale formation.
African Wealth Briefing — Fri., Aug. 21, 2026
Nassef Sawiris lifted his OCI stake to 57.5%, closing in on taking private the chemicals empire he spent two years dismantling. And Aliko Dangote is $5 billion richer as his refinery became Europe's biggest supplier of jet fuel and diesel after the Strait of Hormuz closed.
The Inside Story: From the Garage — How School Dropout Justin Stanford Built a Cybersecurity Firm From Nothing, Then Seeded VALR, Wasoko and Aerobotics
Justin Stanford left school alone as a teenager, built a cybersecurity firm from a Cape Town garage, then spent 15 years seeding the companies that became African tech — VALR, Wasoko, Aerobotics. He isn't a billionaire. He may be the man who built the ground they stand on.
Deep-Dive Report: More Than Ore — How Daphne Mashile-Nkosi Spent $1.3 Billion Building the World's Largest Sinter Plant to Keep South Africa's Manganese Value at Home
South Africa ships ~80% of its manganese out as raw rock. Daphne Mashile-Nkosi spent two decades and $1.3 billion refusing to — building the world's largest sinter plant on bare Kalahari earth. Inside the beneficiation bet African mining is still arguing about.
Wealth Intelligence: The Great Unwind — How Nassef Sawiris Took OCI Apart, Paid Out Billions, and Is Now Buying Back the Shell to Take It Private
Nassef Sawiris spent two years selling off OCI's fertiliser and methanol empire and paying shareholders billions. Now he's buying back the shell at a 2% premium to take it private. The lesson: value is realised by what you sell, not what you hold.
Wealthy Nigerian politician Abdulaziz Yari personally settles Geregu Power's defaulted bond
Geregu Power chairman Abdulaziz Yari has personally provided the funds to clear the company's N40.09 billion ($29 million) bond after a recent default.
Two South African billionaires are backing a new 5G network
Chris Otto's family office and Dimension Data co-founder Richard Came have backed Comsol's wholesale 5G network, launching this month.
Robinhood's billionaire CEO Vlad Tenev says a 'tokenization supercycle' is just beginning
Robinhood chief Vlad Tenev says global markets are in an early 'tokenization supercycle,' as on-chain equity trading reportedly hit a record $9 billion this year.
How Ghana's Theresa Oppong-Beeko built a multimillion-dollar real estate empire
Theresa Oppong-Beeko graduated from the University of Ghana, went into fishing, failed with $2.5 million in debt, returned to study, and built Manet Group into a $420 million Ghanaian real estate empire.
Elon Musk says SpaceX will hit $1 trillion in revenue by 2030 but Amazon may beat him to it first
Elon Musk says SpaceX will reach $1 trillion in revenue by 2030, but with analysts forecasting just $44.6 billion this year, Amazon may claim the milestone first.
How South African Venture Capitalist Justin Stanford built a $37 million early-stage fund
Justin Stanford dropped out of school on a Western Cape apple farm, built a pan-African cybersecurity company from a garage, and launched 4Di Capital, the early-stage fund that seeded Wasoko, Aerobotics and VALR.
South African motor group CMH to pay directors $46 million for 13 dealerships
Combined Motor Holdings will pay three of its executive directors and their family trusts R745 million ($46 million) for 13 dealership properties it already leases.
Money-laundering case over jailed Algerian tycoon Mahieddine Tahkout's funds delayed to August 31
An Algerian court has postponed to August 31 a money-laundering case centered on funds belonging to jailed tycoon Mahieddine Tahkout, with four private investors accused.
