Featured
South African billionaire Michiel le Roux donated $3.5 million to the DA in 12 months
IEC data shows Michiel le Roux donated R58 million ($3.57 million) to the DA in 12 months, the biggest individual political donation in South African history.
Editors' Picks
Ghanaian multimillionaire Richard Nii Armah Quaye's ex-wife demands $2.5 million in divorce battle
Joana Quaye rejected RNAQ's GH¢2 million ($129,032) divorce offer as condescending and demanded GH¢40 million ($2.58 million), Accra mansions and shares in his companies.
SpaceX proxy fund investors want out before the June 12 IPO but may be trapped
Investors who rushed into SpaceX proxy funds want out as the June 12 IPO nears, but many face liquidity constraints that could leave them stuck until SPCX begins trading.
South African billionaire Michiel le Roux donated $3.5 million to the DA in 12 months
IEC data shows Michiel le Roux donated R58 million ($3.57 million) to the DA in 12 months, the biggest individual political donation in South African history.
Exclusive Content For Paid Supporters
The Inside Story: The $100 Million Handshake
On May 20, two men who have been friends for 25 years stood on the same refinery jetty. One is preparing to sell a slice of the future. The other is buying in.
Executive Insight: Five Moves That Matter on the Continent
A cross-continent read on the capital decisions reshaping African wealth this week.
Wealth Intelligence: The $50 Billion Question at the Dangote Refinery
Inside the Dangote Refinery listing and what a public valuation does to Africa’s largest private fortune.
Mohamed Al-Fayed's abuse survivors temper expectations ahead of their first meeting with UK PM Starmer
Survivors of Mohamed Al Fayed's abuse are preparing to meet UK Prime Minister Keir Starmer while tempering expectations, as the Met Police investigation now involves 154 complainants and four suspects.
Egyptian billionaire Naguib Sawiris sold Euronews to a firm now buying Serbia's last independent media
Alpac Capital, which bought Euronews from Egyptian billionaire Naguib Sawiris in 2021, is now acquiring Serbia's last independent media outlets N1 and Nova S for 30 million euros.
Algeria's prosecutors demand 16 more years in prison for jailed auto mogul Mahieddine Tahkout over Swiss fortune
Algeria's prosecutors demanded a fresh 16-year prison sentence for jailed Cima Motors mogul Mahieddine Tahkout over €1.17 billion allegedly hidden in Swiss bank accounts and French property.
Egyptian dairy tycoon Safwan Thabet at war with Qatari shareholder Baladna over Juhayna stake
Egypt's Juhayna Food Industries has locked out Baladna, its Qatari second-largest shareholder with over 15% of the company, in a fresh ownership dispute at the country's biggest dairy producer.
Egyptian billionaire Mohamed Mansour explains why he bought into MLS and what soccer's global future looks like
Egyptian billionaire Sir Mohamed Mansour told Sports Business Journal his global soccer ownership strategy centres on San Diego FC, Right to Dream and why the US soccer market will keep growing.
Algeria's jailed tycoon Mahieddine Tahkout faces new trial over a billion-euro fortune hidden in Switzerland and France
Jailed Algerian automobile tycoon Mahieddine Tahkout appeared before Algeria's financial crimes tribunal over new charges of money laundering and over a billion euros in assets hidden in Switzerland and France.
Egypt's billionaire El-Sewedy family eyes Cameroon investments as part of a new Algeria-Egypt industrial consortium
Egypt's Elsewedy Electric is part of a new Algerian-Egyptian industrial consortium targeting investments in Cameroon's energy and industrial sectors, according to reporting from News du Camer.
Egyptian billionaire Ahmed El-Sewedy meets prime minister to map out billions in new factories and car production
Ahmed El Sewedy met Egypt's Prime Minister Madbouly on May 24 to outline Elsewedy Electric's expansion plans, including a new 80,000-vehicle-per-year automotive factory with global partners.
Ghanaian multimillionaire Richard Nii Armah Quaye's ex-wife demands $2.5 million in divorce battle
Joana Quaye rejected RNAQ's GH¢2 million ($129,032) divorce offer as condescending and demanded GH¢40 million ($2.58 million), Accra mansions and shares in his companies.
Ghanaian Tycoon Paa Kwesi Nduom says GN Savings will reopen first in Elmina
Nduom says GN Savings will reopen first in Elmina, pressing ahead with the Court of Appeal's reinstatement order despite Bank of Ghana's Supreme Court challenge.
Australian mining tycoon Tony Poli holds a $120 million stake in a Burkina Faso gold miner facing a government takeover demand
Anthony Poli holds 4.49% of West African Resources worth over $120 million as Burkina Faso demands a 40% stake in the company's Kiaka gold mine.
Oil magnate Gabriel Ogbechie awards $36,000 in startup grants on his 60th birthday to back Nigerian entrepreneurs
Rainoil founder Gabriel Ogbechie awarded N50 million in grants to 10 Nigerian startups at a birthday symposium, each taking home N5 million from over 100 applicants.
Idrissa Nassa's Coris and Vista Bank seek $45 million from IFC for SME lending in Senegal
Idrissa Nassa's Coris Holding and Vista Bank are jointly requesting $45 million from the IFC to expand SME lending in Senegal, separate from the $10 million Chad facility already in the pipeline for Coris.
Ghanaian tycoon Togbe Afede XIV tells Africa's chief executives to stop enriching themselves at shareholders' expense
Togbe Afede XIV told the 10th Ghana CEO Summit that Africa's business and corporate leaders must reject self-enrichment, conflicts of interest and corruption if the continent is to transform its economy.
Wale Tinubu's Oando sets June 12 date for 2025 audited results after months of delays
Oando has announced June 12 as the release date for its 2025 audited financial statements, months after missing the March 31 regulatory deadline due to post-NAOC acquisition systems integration.
First HoldCo shareholders approve billionaire Femi Otedola's N1 trillion capital plan at today's AGM in Lagos
FirstHoldCo shareholders approved the N253 billion capital raise at today's 14th AGM, clearing the path for Femi Otedola's N1 trillion paid-up capital target for First Bank of Nigeria.
Nedbank's NCBA offer window opens and billionaire Muhoho Kenyatta stands to book a 20% gain on his $154 million stake
Nedbank's NCBA buyout offer opened May 29 at Sh105, offering shareholders a 20.3% gain above NSE prices. Muhoho Kenyatta stands to be the biggest individual winner.
Who is Chris Obure, the Nairobi tycoon seeking $59 million over eviction
Nairobi tycoon Chris Obure is suing for Sh7.6 billion after auctioneers evicted his firm from Senteu Plaza and gold bars vanished during a May 2025 raid.
Heineken fights Kenyan beer tycoon Ngugi Kiuna over interest on $11.4 million award
Heineken is fighting Sh230 million in interest charges on Ngugi Kiuna's Sh1.47 billion distributorship award, arguing the amount was never part of original court proceedings.
James Mwangi's Equity Group plans to set up two insurance businesses in the DRC
Equity Group CEO James Mwangi confirmed plans to establish two separate insurance businesses in the DRC as the Kenyan banking giant deepens its commitment to its most profitable international market.
Kaushik Burman's Spiro buys UK engineering firm Coexlion to anchor its first African R&D hub in Nairobi
Kaushik Burman's Spiro, Africa's largest electric-motorcycle company, has acquired UK engineering firm Coexlion and will open its first African R&D center in Nairobi.
Madagascar billionaire Hassanein Hiridjee is formally elected to Jumia's board as the e-commerce group targets 2027 profitability
Jumia shareholders formally elected Hassanein Hiridjee to the supervisory board on May 15 with 98% support, cementing Axian's governance role as the NYSE-listed e-commerce group targets 2027 profitability.
The curious case of Prateek Suri, the billionaire Africa cannot seem to verify
Prateek Suri claims a $5 billion acquisition made him Africa's richest Indian. The acquirer changes names depending on which publication you read, and his products are nearly impossible to find in African retail.
Tanzanian billionaire Edha Nahdi's Amsons Group is in advanced talks to acquire Oryx Energies for $250 million
Tanzania's Amsons Group is in advanced talks to acquire Geneva-based Oryx Energies for $250 million, including its Tanzania fuel and LPG assets.
South African billionaire Michiel le Roux donated $3.5 million to the DA in 12 months
IEC data shows Michiel le Roux donated R58 million ($3.57 million) to the DA in 12 months, the biggest individual political donation in South African history.
Aspen Pharmacare's $1.6 billion APAC sale adds $33 million to Stephen Saad's net worth
Aspen Pharmacare shares surged 7% after completing its R27bn APAC sale, adding approximately R550 million ($33.5 million) to Stephen Saad's fortune in a single trading session.
Who is Ze Nxumalo, the South African businessman who paid $215,000 for a city manager's private jet trip to London
Ze Nxumalo paid R3.35 million for a private jet used by Ekurhuleni city manager Imogen Mashazi in 2022. He says he chartered it for another businessman.
Namibia's 33-year-old Miguel Hamutenya just became owner of 52 fuel stations and the country's third-largest energy retailer
Miguel Hamutenya's Nasan Energies completed its takeover of 52 Engen and Shell stations from Vivo Energy, making the 33-year-old entrepreneur Namibia's third-largest fuel retailer.
South African property tycoon Roux Shabangu is now officially bankrupt
SARS sequestrated property mogul Roux Shabangu as his tax debt hit R221 million, closing a saga begun by a R520m police lease.
South African tycoon Sandile Zungu's Sizekhaya Holdings wins $4.9 billion national lottery contract
Sandile Zungu's Sizekhaya takes over South Africa's national lottery on June 2 but faces a court challenge from Ithuba, which says the R80bn contract was awarded unlawfully.
How South Africa's biggest banks enabled the Gupta corruption machine
South Africa's major banks and professional services firms provided services to Gupta-linked entities despite clear red flags, enabling state capture corruption documented as the worst in the country's democratic history.
South Africa's Craig Warriner ran a Ponzi scheme for a decade and drove a Ferrari while it lasted
Craig Warriner defrauded over 800 South African investors of at least R1.64 billion through his BHI Trust over a decade, posing as an expert day trader while living lavishly on his clients' money.
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.
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.
Latest Posts
The Inside Story: The $100 Million Handshake
On May 20, two men who have been friends for 25 years stood on the same refinery jetty. One is preparing to sell a slice of the future. The other is buying in.
Executive Insight: Five Moves That Matter on the Continent
A cross-continent read on the capital decisions reshaping African wealth this week.
Wealth Intelligence: The $50 Billion Question at the Dangote Refinery
Inside the Dangote Refinery listing and what a public valuation does to Africa’s largest private fortune.
African Wealth Briefing — Mon., June 1, 2026
James Mwangi's Equity Group plans two DRC insurers as its Congo bank's profit jumps 58%. Wale Tinubu's Oando finally sets a June 12 date for its delayed 2025 audit.
Ghanaian multimillionaire Richard Nii Armah Quaye's ex-wife demands $2.5 million in divorce battle
Joana Quaye rejected RNAQ's GH¢2 million ($129,032) divorce offer as condescending and demanded GH¢40 million ($2.58 million), Accra mansions and shares in his companies.
SpaceX proxy fund investors want out before the June 12 IPO but may be trapped
Investors who rushed into SpaceX proxy funds want out as the June 12 IPO nears, but many face liquidity constraints that could leave them stuck until SPCX begins trading.
South African billionaire Michiel le Roux donated $3.5 million to the DA in 12 months
IEC data shows Michiel le Roux donated R58 million ($3.57 million) to the DA in 12 months, the biggest individual political donation in South African history.
Aspen Pharmacare's $1.6 billion APAC sale adds $33 million to Stephen Saad's net worth
Aspen Pharmacare shares surged 7% after completing its R27bn APAC sale, adding approximately R550 million ($33.5 million) to Stephen Saad's fortune in a single trading session.
Elon Musk's SpaceX cuts its IPO target to $1.8 trillion after a $4.28 billion Q1 loss
SpaceX lowered its IPO target to $1.8 trillion after a $4.28 billion Q1 loss, but retail investors have poured $14 billion into proxy funds since December.
Nedbank's NCBA offer window opens and billionaire Muhoho Kenyatta stands to book a 20% gain on his $154 million stake
Nedbank's NCBA buyout offer opened May 29 at Sh105, offering shareholders a 20.3% gain above NSE prices. Muhoho Kenyatta stands to be the biggest individual winner.
Jay-Z breaks concert silence with freestyle dissing Drake and Kanye
Jay-Z broke six years of solo concert silence at Roots Picnic on May 30 with a freestyle apparently aimed at Drake, Kanye West and Nicki Minaj.
Ghanaian Tycoon Paa Kwesi Nduom says GN Savings will reopen first in Elmina
Nduom says GN Savings will reopen first in Elmina, pressing ahead with the Court of Appeal's reinstatement order despite Bank of Ghana's Supreme Court challenge.
Kanye West breaks the record for largest stadium concert attendance with 118,000 fans in Istanbul
Kanye West performed to 118,000 fans in Istanbul on May 30, his first European show since 2014, claiming the record for the largest ticketed stadium concert.
Who is Chris Obure, the Nairobi tycoon seeking $59 million over eviction
Nairobi tycoon Chris Obure is suing for Sh7.6 billion after auctioneers evicted his firm from Senteu Plaza and gold bars vanished during a May 2025 raid.
Who is Ze Nxumalo, the South African businessman who paid $215,000 for a city manager's private jet trip to London
Ze Nxumalo paid R3.35 million for a private jet used by Ekurhuleni city manager Imogen Mashazi in 2022. He says he chartered it for another businessman.
Australian mining tycoon Tony Poli holds a $120 million stake in a Burkina Faso gold miner facing a government takeover demand
Anthony Poli holds 4.49% of West African Resources worth over $120 million as Burkina Faso demands a 40% stake in the company's Kiaka gold mine.
