Featured
Nigerian entrepreneur Tosin Eniolorunda's Moniepoint processed $297 billion in 2025
Moniepoint’s explosive transaction growth suggests founder Tosin Eniolorunda may be sitting atop one of Nigeria’s largest fintech revenue machines yet.
Editors' Picks
Tony Elumelu-backed Redtech processed $20.6 billion in 2025 transactions as digital payments surge in Nigeria
Redtech says it processed 30 trillion naira in 2025 transactions, pointing to stronger RedPay usage and plans to expand across Africa.
Glencore shareholder Ivan Glasenberg invests $328 million into Astron Energy’s South Africa expansion
Billionaire Ivan Glasenberg’s Glencore is investing $328 million to upgrade Astron Energy’s Cape Town refinery, deepening its footprint in South Africa’s fuel market.
UAE’s biggest bank targets Nigeria expansion with Lagos office
First Abu Dhabi Bank plans a Lagos office as it expands into Nigeria, deepening its push into infrastructure and energy financing across Africa.
Exclusive Content For Paid Supporters
South African tycoon Barry Swartzberg’s Discovery stake rises above $320 million
South African billionaire Barry Swartzberg’s Discovery stake rises above $320 million as shares recover on the JSE.
Palantir CEO Alex Karp unloads $110 million in stock within 100 days
Alex Karp has sold more than $110 million in Palantir shares within 100 days amid stock volatility and tax obligations.
South African billionaire Jannie Mouton’s Capitec stake tops $1.2 billion
Jannie Mouton’s Capitec stake tops $1.2 billion as an 18-day share rally adds $67.58 million in value, cementing his position among South Africa’s financial elite.
Egypt's Hassan Allam Properties targets $297.4 million in 2026 projects, prepares new hospitality brand
Developer Hassan Allam Properties targets 14 billion pounds in 2026 work and will launch a hospitality brand to manage hotels opening in 2028-29.
Billionaire Hisham Talaat Moustafa says real estate prices in Egypt are unlikely to fall soon
Egypt’s top developer says housing prices follow land and building costs, and demand remains strong despite higher expenses.
EBRD approves $25 million loan to Hassan Allam to modernize equipment in Egypt
The EBRD approved a $25 million loan to Hassan Allam Holding to upgrade equipment and support lower emission construction operations in Egypt.
Mauritius-based businessman Antoine Delaporte's Adenia buys majority stake in Egypt’s Parkville
Adenia Partners buys controlling stake in Egypt’s Parkville, expanding into health, personal care, and Middle East-Africa markets.
Orascom Construction, led by Egypt’s richest family, gains backing for OCI deal
Orascom Construction shareholders approved an OCI unit acquisition and a 97 million capital raise, expanding assets and boosting issued shares.
Moroccan tycoon Mohamed Hassan Bensalah sells biscuit manufacturer Biscoland sold to Spain’s Adam Foods
Adam Foods has bought Biscoland, the 2023 Holmarcom biscuit and chocolate venture, taking over a modern Casablanca area factory and its local brands.
Egyptian billionaire Ahmed Ezz’s steel firm plans $1.1 billion production expansion
Ahmed Ezz’s Ezz Steel invests $1.16 billion to expand production amid falling exports and rising local demand.
Moroccan multimillionaire Chakib Alj looks to acquire struggling flour miller Forafric
Cap Holding boss Chakib Alj is in talks to seize control of debt-laden Forafric, raising prospects of a shake-up in Moroccan milling.
Nigerian businessman Aderemi Makanjuola’s Caverton posts sharp Q4 revenue drop as quarterly loss narrows slightly
Caverton Offshore Support Group reported a steep Q4 revenue slide to 3.74 billion naira as its net loss eased.
Vitafoam Nigeria, partly owned by Samuel Bolarinde, sees revenue jump to $20.8 million
Vitafoam Nigeria, partly owned by Samuel Bolarinde, posts $22.8 million revenue with net profit rising to $3.3 million.
FCMB, led by Nigerian banker Ladi Balogun, doubles profit to $127.5 million in 2025
FCMB posts $127.5 million profit in 2025 as higher interest income lifts earnings despite rising costs and credit losses.
Abdul Samad Rabiu’s BUA Foods posts $366 million profit as Nigeria staples drive sales
BUA Foods reported a $366 million profit as strong demand for staples like sugar, flour, pasta and rice lifted sales and assets despite inflation pressures.
Aradel, led by Adegbite Falade, secures $250 million to expand Nigerian oil and gas operations
Aradel, led by Adegbite Falade, secures $250 million to expand oil and gas operations and increase stake in ND Western.
Nigerian business icon Adekunle Ojora passes away at 93
Adekunle Ojora, 93, renowned Nigerian business leader and investor, passes away, leaving decades of corporate impact.
OPEC’s first female president spent $2.75 million at Harrods, London court hears
Diezani Alison-Madueke, OPEC’s first female president and Nigeria’s ex-oil minister spent $2.75 million at Harrods, facing UK bribery scrutiny.
Africa’s richest man, Aliko Dangote's refinery lifts petrol prices 14 percent
Africa’s richest man Aliko Dangote raises petrol prices by 14 percent as global crude oil prices climb after U.S. supply disruptions.
Kenyan billionaire Narendra Raval's Devki Group wins local approval to start Kishushe mining in Taita Taveta county
Shareholders at Kishushe Ranch in Kenya’s Taita Taveta county unanimously approved Devki Group’s mining plans, with officials promising jobs and road upgrades.
Kenya clears Tanzanian billionaire Edha Nahdi’s bid for NSSF stake in East African Portland Cement, but orders 18 months of job protection
Kenya’s competition watchdog cleared Amsons executive Edha Nahdi’s firm to buy NSSF’s Portland Cement stake, with an 18 month job lock.
Tanzanian billionaire Bakhresa tells young entrepreneurs to stay patient as he reflects on journey
Billionaire industrialist Said Salim Bakhresa tells young founders to be patient and persistent, describing a path from street food sales to a regional group.
Hassanein Hiridjee pushes Axian deeper into finance with VIA Assurance launch in Madagascar
Axian chief Hassanein Hiridjee has launched VIA Assurance in Madagascar, betting that simpler products and faster service can grow a thin insurance market.
UK court orders SportPesa co founder Paul Ndung’u to pay $2.9 million in costs as ownership fight drags on
A London judge ordered Paul Ndung’u to pay Sh374 million in interim costs after rejecting key claims in his SportPesa ownership dispute.
Kenyan businesswoman Mary Wambui fights hotel auction as bank looks to recover $62 million
Mary Wambui Mungai is fighting a planned auction of her Nairobi luxury hotel as Equity Bank pursues a disputed Sh8 billion debt.
Luxury hotel operator controlled by Mauritian Lagesse family posts $127 million half-year revenue
LUX Island Resorts posts $127 million half-year revenue as tourist arrivals boost occupancy and profits across Indian Ocean resorts.
Tanzanian billionaire Edha Nahdi's Amsons Group to inject $201.7 million into East Africa Portland Cement in bid to quadruple output
Amsons Group will inject Sh25.8bn ($201.7m) into East Africa Portland Cement, aiming to lift output to 4 million tonnes within three years.
South African tycoon Giovanni Ravazzotti's Italtile faces five-year shareholder loss as stock trails market
Italtile investors are sitting on a five-year loss despite earnings growth, raising questions about market confidence and long-term value.
Elon Musk summoned as France raids X over deepfakes
French authorities have summoned Elon Musk and searched X offices as investigations widen into alleged political interference and the spread of deepfake content.
Multimillionaire Sipho Nkosi’s Exxaro seals $615 million manganese deal
Exxaro’s $615 million manganese deal consolidates key assets in South Africa’s Northern Cape, marking a major shift in the country’s mining landscape.
Glencore shareholder Ivan Glasenberg invests $328 million into Astron Energy’s South Africa expansion
Billionaire Ivan Glasenberg’s Glencore is investing $328 million to upgrade Astron Energy’s Cape Town refinery, deepening its footprint in South Africa’s fuel market.
South African billionaire Michiel Le Roux’s Capitec to grow branches and ATM network as rivals scale back
Capitec plans to expand branches and ATMs in 2026, betting that physical access still matters as rivals cut networks and push deeper into digital banking.
South African billionaire Johann Rupert’s Richemont to sell Baume & Mercier to Italy’s Damiani
Richemont agreed to sell Baume & Mercier to Italy’s Damiani, handing control of one of Switzerland’s oldest watch brands to a family owned jeweler.
South African businesswoman Bridgette Motsepe-Radebe demands $630,000 legal costs from Botswana after 'Butterfly Case'
Cleared in a money laundering saga, Bridgette Motsepe-Radebe is pressing Botswana to settle costs and finish still-overdue court-ordered public apologies.
South African businessman Saki Macozoma says $723 million Exxaro deal proves BEE can build lasting mining value
Saki Macozoma says a R11.67bn manganese sale to Exxaro shows black economic empowerment can create lasting value despite years of public criticism.
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.
Ethiopian billionaire Mohammed Al-Amoudi signals return with new mega projects
Ethiopian-born Saudi billionaire Mohammed Al-Amoudi signals a return with new mega projects under MIDROC, pledging jobs and investment as Ethiopia eyes middle-income status.
Preem, linked to Ethiopian billionaire Mohammed Al-Amoudi, posts $2.7 billion in Q2 sales
Preem reports Q2 revenue below $3 billion and swings to a $93.6 million loss as refinery downtime and weaker margins weigh.
Ethiopia’s richest man Mohammed Al-Amoudi gains $2.2 billion; wealth nears $8 billion
Mohammed Al-Amoudi’s fortune rises $2.2 billion after Svenska sale, pushing his net worth toward $8 billion.
Latest Posts
Nigerian entrepreneur Tosin Eniolorunda's Moniepoint processed $297 billion in 2025
Moniepoint’s explosive transaction growth suggests founder Tosin Eniolorunda may be sitting atop one of Nigeria’s largest fintech revenue machines yet.
South African tycoon Giovanni Ravazzotti's Italtile faces five-year shareholder loss as stock trails market
Italtile investors are sitting on a five-year loss despite earnings growth, raising questions about market confidence and long-term value.
South African singer Tyla wins second Grammy in two years in Los Angeles
South African singer Tyla has won her second Grammy in two years, reinforcing her fast rise from breakout star to global music force.
Aliko Dangote emerges as key partner as Cameroon refinery seeks restart support
Dangote Group is in talks with Cameroon refinery Sonara over fuel supply and financing as the company seeks to restart operations under a heavy debt load.
SIFAX Group Chairman Taiwo Afolabi Expands Rural Healthcare Access Through Free Insurance Scheme
SIFAX Group chairman Taiwo Afolabi has expanded healthcare access in rural Ogun through a free insurance program targeting elderly and vulnerable residents.
South African billionaire Patrice Motsepe steers Rainbow Minerals’ Ferrous Division into new era with leadership change
Patrice Motsepe appoints Maryke Burger as CEO of African Rainbow Minerals’ ferrous division as the company pushes ahead with restructuring and efficiency reforms.
Nigerian business mogul Tony Elumelu to empower new generation of African entrepreneurs
Tony Elumelu says empowering young entrepreneurs is key to Africa’s future as his foundation expands funding, training and mentorship across all 54 African countries
Elon Musk summoned as France raids X over deepfakes
French authorities have summoned Elon Musk and searched X offices as investigations widen into alleged political interference and the spread of deepfake content.
Multimillionaire Sipho Nkosi’s Exxaro seals $615 million manganese deal
Exxaro’s $615 million manganese deal consolidates key assets in South Africa’s Northern Cape, marking a major shift in the country’s mining landscape.
Late South African business tycoon Sol Kerzner’s name surfaces in newly released Epstein files
Newly released US Justice Department files show late hotel magnate Sol Kerzner had contact with Jeffrey Epstein, including meetings and hotel bookings
Tony Elumelu-backed Redtech processed $20.6 billion in 2025 transactions as digital payments surge in Nigeria
Redtech says it processed 30 trillion naira in 2025 transactions, pointing to stronger RedPay usage and plans to expand across Africa.
Glencore shareholder Ivan Glasenberg invests $328 million into Astron Energy’s South Africa expansion
Billionaire Ivan Glasenberg’s Glencore is investing $328 million to upgrade Astron Energy’s Cape Town refinery, deepening its footprint in South Africa’s fuel market.
UAE’s biggest bank targets Nigeria expansion with Lagos office
First Abu Dhabi Bank plans a Lagos office as it expands into Nigeria, deepening its push into infrastructure and energy financing across Africa.
Nigerian billionaire Kola Karim's Shoreline Group acquires producing U.S. oil assets
Shoreline Group chief Kola Karim says the Nigerian operator has bought producing U.S. oil assets, betting African grit can lift output.
Banker Aig-Imoukhuede urges Nigeria to embrace agriculture as engine for jobs
Nigeria’s agriculture is unfinished, not failed. Leaders urge youth to see it as a modern, tech-driven sector with vast career paths
Citygate Homes Chairman Duru Mike Ejiogu honored as Entrepreneur of the Year by Sun Newspapers
Citygate Homes chairman Duru Mike Ejiogu received Sun Newspapers’ Entrepreneur of the Year award at a ceremony attended by Nigeria’s business and political elite.
