Featured
Tony Elumelu's Transcorp hits record $399 million revenue, profit up 44-percent
Tony Elumelu's Transcorp Group has delivered the most commanding financial performance in its history, posting $399 million in revenue for full year 2025 and a 44% surge in profit after tax, as the conglomerate signals aggressive expansion across power and hospitality heading into 2026
Editors' Picks
Woolworths CEO Roy Bagattini seals in2food deal to control its premium meals supply chain
Woolworths is buying 100% of in2food Holdings from its founders and Old Mutual Private Equity in a cash deal expected to lift earnings immediately.
Kenyan banking mogul James Mwangi's Equity Bank Rwanda loses $3.2 million in fraud as 35 suspects arrested
Equity Bank Rwanda lost about $3.2 million in a fraud scheme that exploited its mobile money float system, with 35 people arrested.
Tony Elumelu's Transcorp hits record $399 million revenue, profit up 44-percent
Tony Elumelu's Transcorp Group has delivered the most commanding financial performance in its history, posting $399 million in revenue for full year 2025 and a 44% surge in profit after tax, as the conglomerate signals aggressive expansion across power and hospitality heading into 2026
Exclusive Content For Paid Supporters
Investor Memo: $126.7 Billion at the Peak — What Forbes Doesn’t Tell You
Forbes says Africa's 23 billionaires are worth a record $126.7 billion — but the list was frozen on March 1, the day before the war began, and sixteen days later, those fortunes are splitting fast.
Wealth Intelligence: Motsepe and the Gold War Windfall
Gold past $5,400, platinum surging, ARM's profit swinging from a R409 million loss to R1.9 billion — inside the war windfall quietly compounding Patrice Motsepe's fortune.
Patrice Motsepe is set to pocket $24.6 million African Rainbow Minerals interim dividend
African Rainbow Minerals raised its interim dividend to 500 cents per share, putting R455 million into Patrice Motsepe's pocket.
MNT-Halan CEO Mounir Nakhla is targeting EGP 30 billion in debt financing as Egypt's fintech unicorn keeps expanding
MNT-Halan CEO Mounir Nakhla says the company will target EGP 30 billion in securitization and bond issuances by end of 2026.
Hisham Talaat Moustafa's TMG ranked Egypt's top listed real estate developer by Forbes
Talaat Moustafa Group has been ranked Egypt's top listed real estate developer for 2026 by Forbes Middle East, capping a record year.
IFC plans $40 million bet on Egyptian billionaire Naguib Sawiris’ Nile Sugar desert project
The IFC is considering a $40 million loan to Nile Sugar Company, owned by Naguib Sawiris, to expand sugar beet farming in Upper Egypt.
Hassan Allam's Egyptian construction giant powers up one of the world's largest solar parks with Chinese tech deal
Hassan Allam Holding has partnered with Sineng Electric to supply 249MW of central inverters to Egypt's 1.65GW Benban Solar Park in Aswan.
Billionaire Naguib Sawiris says Iran's attacks on the UAE are a war against freedom and progress
Egyptian billionaire Naguib Sawiris says Iran's attacks on the UAE go beyond military strikes and target freedom and a way of life.
Chakib Alj files to take control of Forafric Maroc in deal that reshapes Morocco's flour industry
Chakib Alj's Cap Holding has formally notified Morocco's Competition Council of its plan to acquire 68% of flour and pasta producer Forafric Maroc.
Adidas nominates $9.3 billion Egyptian mogul Nassef Sawiris as its next chairman
Nassef Sawiris, worth $9.3 billion and already a major Adidas shareholder, is set to become the sportswear giant's next chairman.
Billionaire Moulay Elalamy's Saham Group moves to deepen its stake in teleperformance with a $412m equity swap
Saham Group has executed a $412 million equity swap to boost its position in Teleperformance, the global customer services company it helped build.
Tony Elumelu's Transcorp hits record $399 million revenue, profit up 44-percent
Tony Elumelu's Transcorp Group has delivered the most commanding financial performance in its history, posting $399 million in revenue for full year 2025 and a 44% surge in profit after tax, as the conglomerate signals aggressive expansion across power and hospitality heading into 2026
Burkina Faso tycoon Mahamadou Bonkoungou circles Dassault’s new Falcon 10X as EBOMAF expands its aviation ambitions
Burkina Faso businessman Mahamadou Bonkoungou was a front-row guest at Dassault's Falcon 10X unveiling in Bordeaux this month.
Aliko Dangote slashes Nigeria petrol imports to historic low
Aliko Dangote's refinery supplied 92% of Nigeria's petrol demand in February, cutting the country's dependence on foreign fuel to a record low.
Sam Darwish's IHS Towers swings to $126.8 million profit as MTN's $6.2 billion takeover looms
Sam Darwish's IHS Towers swung to a $126.8 million profit in 2025, reversing a $1.64 billion loss, as MTN's $6.2 billion takeover moves toward completion.
Dangote signs $4.2 billion gas deal with China's GCL Group to build East Africa's biggest fertilizer plant
Aliko Dangote has sealed a $4.2 billion, 25-year natural gas deal with China's GCL Group to fuel East Africa's biggest fertilizer plant.
Gilbert Chagoury's ITB wins MSC's Lagos port build as two private dynasties unite on a $1 billion Snake Island bet
Gilbert Chagoury's ITB Nigeria has won the construction contract on Diego Aponte's MSC Snake Island port deal, uniting two of the world's most secretive business dynasties on a $1 billion Lagos bet.
President Tinubu taps GTBank co-founder Fola Adeola to lead a new petroleum sector reform taskforce in Nigeria
President Tinubu has appointed GTBank co-founder Fola Adeola to chair a new presidential taskforce on petroleum sector reform.
Two of Burkina Faso's richest men are at war over TotalEnergies' former assets
Burkina Faso's two most powerful businessmen are fighting over TotalEnergies' former 170-station fuel network, according to Africa Intelligence.
Kenyan banking mogul James Mwangi's Equity Bank Rwanda loses $3.2 million in fraud as 35 suspects arrested
Equity Bank Rwanda lost about $3.2 million in a fraud scheme that exploited its mobile money float system, with 35 people arrested.
Hassanein Hiridjee's AXIAN Telecom brings Kamal Okba back as COO
Kamal Okba, a telecom veteran with over 25 years of industry experience, returns to AXIAN Group as chief operating officer of AXIAN Telecom.
10 businesses owned by Tanzanian billionaire Rostam Aziz
Rostam Aziz just bought Nation Media Group from the Aga Khan. Here is every company the Tanzanian billionaire owns in 2026.
Mary-Ann Musangi’s HACO Industries wins circular economy leader at Kenya ESG Awards
HACO Industries Kenya has been named a Circular Economy Leader at the Kenya ESG Awards, recognising the manufacturer's push to embed sustainability across its operations.
Tanzanian billionaire Rostam Aziz acquires Kenya's Nation Media Group from Aga Khan
Tanzanian billionaire Rostam Azizi has bought the Aga Khan Fund's controlling stake in Nation Media Group, ending a 66-year era.
Madagascar's most powerful businessman is now in a Mauritius jail facing a third international arrest warrant
Madagascar's anti-corruption court has issued a third international arrest warrant against tycoon Mamy Ravatomanga, adding a mining scandal to his growing legal troubles.
Meet Esther Muchemi, M-Pesa's first agent who became a multimillionaire
When M-Pesa launched on March 6, 2007, Esther Muchemi held agent number 0001. She had no idea what was coming.
Kenyan beer tycoon Ngugi Kiuna wins $11.4 million guarantee in Heineken battle
A Nairobi court has ordered Heineken to post a Sh1.47 billion bank guarantee before it can appeal the Sh1.8 billion award to Ngugi Kiuna.
Woolworths CEO Roy Bagattini seals in2food deal to control its premium meals supply chain
Woolworths is buying 100% of in2food Holdings from its founders and Old Mutual Private Equity in a cash deal expected to lift earnings immediately.
Sanctioned Zimbabwean tycoon Kudakwashe Tagwirei paid $1.8 million for President Mnangagwa's old Aston Martin at a charity auction
Sanctioned tycoon Kudakwashe Tagwirei paid $1.8 million for President Mnangagwa's old car at a Harare auction, then donated it back.
Patrice Motsepe emerges as top pick to lead ANC and become South Africa's next president
Billionaire Patrice Motsepe is the frontrunner to lead the ANC and become South Africa's next president, according to a leading political analyst.
South African heiress who bought ex Coca-Cola boss’s Belrose mansion for $8m now seeks $20m after major makeover
Luciana Ravazzotti Langenhoven has listed a Belrose estate bought for $8 million, chasing about $20 million after years of renovations.
South Africa’s next CFOs will be judged on more than financial results
CFOs are now strategic partners, tech guides and board communicators. Companies that want that impact must build stronger finance teams underneath them.
Elon Musk's Starlink goes live in Central African Republic, drawing desperate pleas from blacked-out Iranians
Elon Musk's Starlink has gone live in the Central African Republic, reaching one of Africa's most internet-starved nations as Iranians beg for access.
Simon Rudland says extortion plot and AI-generated smear campaign falsely linked him to Zimbabwe coup plot
Gold Leaf Tobacco co-owner Simon Rudland says an alleged extortion attempt has driven a fabricated social media campaign falsely linking him to a Zimbabwe coup plot.
MTN lifts dividend 45% after profits rebound on Nigeria, Ghana growth
MTN Group raised its annual dividend 45% to R5 per share after a sharp earnings rebound driven by Nigeria, Ghana and rising data demand.
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
Woolworths CEO Roy Bagattini seals in2food deal to control its premium meals supply chain
Woolworths is buying 100% of in2food Holdings from its founders and Old Mutual Private Equity in a cash deal expected to lift earnings immediately.
Kenyan banking mogul James Mwangi's Equity Bank Rwanda loses $3.2 million in fraud as 35 suspects arrested
Equity Bank Rwanda lost about $3.2 million in a fraud scheme that exploited its mobile money float system, with 35 people arrested.
Tony Elumelu's Transcorp hits record $399 million revenue, profit up 44-percent
Tony Elumelu's Transcorp Group has delivered the most commanding financial performance in its history, posting $399 million in revenue for full year 2025 and a 44% surge in profit after tax, as the conglomerate signals aggressive expansion across power and hospitality heading into 2026
Sanctioned Zimbabwean tycoon Kudakwashe Tagwirei paid $1.8 million for President Mnangagwa's old Aston Martin at a charity auction
Sanctioned tycoon Kudakwashe Tagwirei paid $1.8 million for President Mnangagwa's old car at a Harare auction, then donated it back.
Patrice Motsepe emerges as top pick to lead ANC and become South Africa's next president
Billionaire Patrice Motsepe is the frontrunner to lead the ANC and become South Africa's next president, according to a leading political analyst.
Billionaire Dr. Dre sells Carbon Beach home for $16.5 million in quiet off-market deal
Andre Young, known professionally as Dr. Dre, has quietly sold his Carbon Beach waterfront home in Malibu for $16.5 million.
Your Daily Briefing — Wed., March 18, 2026
Dangote is supplying 92% of Nigeria's petrol and just signed a $4.2 billion deal to build East Africa's biggest fertilizer plant — plus Mahama circles a Ghanaian gold mine, TMG tops Egypt's developer rankings, and Starlink goes live in the Central African Republic as Iranians beg for access.
Nawiri Group wants safari travel to fund nature and communities
B Corp certified Nawiri Group unites Asilia and Go2Africa, employing 1,300 people and channeling over $10 million yearly into parks and communities.
South African heiress who bought ex Coca-Cola boss’s Belrose mansion for $8m now seeks $20m after major makeover
Luciana Ravazzotti Langenhoven has listed a Belrose estate bought for $8 million, chasing about $20 million after years of renovations.
South Africa’s next CFOs will be judged on more than financial results
CFOs are now strategic partners, tech guides and board communicators. Companies that want that impact must build stronger finance teams underneath them.
Burkina Faso tycoon Mahamadou Bonkoungou circles Dassault’s new Falcon 10X as EBOMAF expands its aviation ambitions
Burkina Faso businessman Mahamadou Bonkoungou was a front-row guest at Dassault's Falcon 10X unveiling in Bordeaux this month.
MNT-Halan CEO Mounir Nakhla is targeting EGP 30 billion in debt financing as Egypt's fintech unicorn keeps expanding
MNT-Halan CEO Mounir Nakhla says the company will target EGP 30 billion in securitization and bond issuances by end of 2026.
Hisham Talaat Moustafa's TMG ranked Egypt's top listed real estate developer by Forbes
Talaat Moustafa Group has been ranked Egypt's top listed real estate developer for 2026 by Forbes Middle East, capping a record year.
Hassanein Hiridjee's AXIAN Telecom brings Kamal Okba back as COO
Kamal Okba, a telecom veteran with over 25 years of industry experience, returns to AXIAN Group as chief operating officer of AXIAN Telecom.
Elon Musk expands Starlink into the Central African Republic
Elon Musk brings Starlink to the Central African Republic, boosting digital access as Iranians plead for connectivity amid a nationwide blackout.
Aliko Dangote slashes Nigeria petrol imports to historic low
Aliko Dangote's refinery supplied 92% of Nigeria's petrol demand in February, cutting the country's dependence on foreign fuel to a record low.
