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Russia's billionaires in Africa: Mines, money and the sanctions squeeze
Several Russian billionaires have built substantial business interests across Africa, spanning gold, diamonds, bauxite and manganese in multiple countries.
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Byron Allen spends $91.3 million on a new Aspen home two years after selling his last one for $60 million
Byron Allen has paid $91.3 million for a mountain home in Aspen, Colorado, returning to the ski resort town two years after selling his previous property.
Russia's billionaires in Africa: Mines, money and the sanctions squeeze
Several Russian billionaires have built substantial business interests across Africa, spanning gold, diamonds, bauxite and manganese in multiple countries.
Ghana liquor tycoon Kwabena Adjei's Kasapreko closes IPO, set to list June 17
Kasapreko PLC has closed its GH¢700 million IPO on the Ghana Stock Exchange, with investors now waiting on allotment results ahead of a June 17 listing.
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Wealth Intelligence: The $50 Billion Question at the Dangote Refinery
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Egyptian billionaire Hisham Talaat Moustafa's TMG wins Iraqi investment licence for $18.8 billion Baghdad mega-city project
Egypt's Talaat Moustafa Group has secured a formal Iraqi investment licence to develop an $18.8 billion integrated city in southwest Baghdad.
Egyptian tycoon Safwan Thabet's Juhayna Food doubles first-quarter profit to $13.6 million on surging sales
Egypt's Juhayna Food Industries more than doubled its first-quarter net profit in 2026 as revenue climbed sharply across dairy and juice segments.
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.
Ghana liquor tycoon Kwabena Adjei's Kasapreko closes IPO, set to list June 17
Kasapreko PLC has closed its GH¢700 million IPO on the Ghana Stock Exchange, with investors now waiting on allotment results ahead of a June 17 listing.
Moise Katumbi: Congolese billionaire, football club owner and Africa's most tenacious presidential contender
Moise Katumbi built the DRC's biggest private fortune from fish and copper before spending a decade trying to take the country's highest office.
Nigerian billionaire Jim Ovia's Zenith Bank stake hits $643 million as shares surge
Jim Ovia's Zenith Bank stake has more than doubled in naira terms in 2026 and is now worth $643 million after the naira's strengthening added a dollar bonus.
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.
Kenyan advertising mogul Bharat Thakrar takes his WPP Scangroup board battle to shareholders at June 8 AGM
Scangroup founder Bharat Thakrar is heading into a shareholder showdown on June 8 to remove the entire board of WPP Scangroup over five years of losses.
Uganda clears Absa takeover of Standard Chartered's retail and wealth banking business
The Bank of Uganda has approved Absa Bank Uganda's takeover of Standard Chartered's retail and wealth banking operations in the country.
Benjamin Fernandes built NALA until it broke under its own growth. A $50 million credit line is how he fixes that
Benjamin Fernandes's NALA has secured a $50 million non-dilutive credit facility from Liquidity and MUFG Bank to pre-fund stablecoin cross-border payment corridors as enterprise demand from US, European and African businesses accelerates sharply.
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.
Russia's billionaires in Africa: Mines, money and the sanctions squeeze
Several Russian billionaires have built substantial business interests across Africa, spanning gold, diamonds, bauxite and manganese in multiple countries.
South African billionaire Magda Wierzycka warns the UK is no longer safe for global investors
South African billionaire and Sygnia CEO Magda Wierzycka has warned that the UK is losing its appeal as a destination for serious global investors.
Johann Rupert's Richemont surged 11% in May and is now closing in on a R2 trillion JSE valuation
Richemont surged nearly 11% in May, pushing its JSE market cap to just under R1.9 trillion as Johann Rupert's luxury empire closes in on a historic R2 trillion milestone.
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.
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
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Kenyan advertising mogul Bharat Thakrar takes his WPP Scangroup board battle to shareholders at June 8 AGM
Scangroup founder Bharat Thakrar is heading into a shareholder showdown on June 8 to remove the entire board of WPP Scangroup over five years of losses.
Byron Allen spends $91.3 million on a new Aspen home two years after selling his last one for $60 million
Byron Allen has paid $91.3 million for a mountain home in Aspen, Colorado, returning to the ski resort town two years after selling his previous property.
Stephen Curry ends sneaker search, signs 10-year deal with Li-Ning
Stephen Curry has ended a months-long sneaker search, signing a 10-year endorsement deal with Chinese company Li-Ning that takes his Curry Brand global.
Russia's billionaires in Africa: Mines, money and the sanctions squeeze
Several Russian billionaires have built substantial business interests across Africa, spanning gold, diamonds, bauxite and manganese in multiple countries.
Jay-Z and Jack Dorsey bet $23 million on Africa's Bitcoin future. Here is what happened next
Jack Dorsey and Jay-Z donated 500 Bitcoin to back Africa's Bitcoin future in 2021. Five years on, the bet is paying off.
Ghanaian billionaire Ibrahim Mahama took over Damang six weeks ago and has already ordered $250 million worth of equipment for it
Ibrahim Mahama's Damang Gold Mine has begun deploying a $250 million fleet of 52 heavy-duty machines, the largest capital injection by a wholly Ghanaian-owned large-scale miner in recent memory, six weeks after taking over the mine from Gold Fields.
Rihanna made more from one powder compact at the Super Bowl than from performing the songs that made her famous
Rihanna's 50/50 joint venture with LVMH turned Fenty Beauty into a billion-dollar asset. Her entire 20-year music career, by comparison, generated an estimated $100-200 million in total earnings.
Black billionaire David Steward's son paid $17 million for a horse farm in Florida with 38 stalls
David Steward II paid $17 million for a horse farm in Wellington's Grand Prix Farms, one of Florida's most exclusive equestrian communities.
African Wealth Briefing — Tues., June 2, 2026
Stephen Saad gains $33.5 million in a single session as Aspen completes its R27 billion APAC sale. Michiel Le Roux's R58 million DA gift becomes the largest individual political donation in South African history.
Ghana liquor tycoon Kwabena Adjei's Kasapreko closes IPO, set to list June 17
Kasapreko PLC has closed its GH¢700 million IPO on the Ghana Stock Exchange, with investors now waiting on allotment results ahead of a June 17 listing.
Moise Katumbi: Congolese billionaire, football club owner and Africa's most tenacious presidential contender
Moise Katumbi built the DRC's biggest private fortune from fish and copper before spending a decade trying to take the country's highest office.
Byron Allen takes over Stephen Colbert's CBS slot and buys BuzzFeed in a massive media power play
Byron Allen has seized Stephen Colbert's CBS late-night slot and acquired BuzzFeed in a bold media expansion that caps decades of building Black-owned broadcast infrastructure.
Nigerian billionaire Jim Ovia's Zenith Bank stake hits $643 million as shares surge
Jim Ovia's Zenith Bank stake has more than doubled in naira terms in 2026 and is now worth $643 million after the naira's strengthening added a dollar bonus.
Italy bans Kanye West from Reggio Emilia show over safety fears
Italian authorities have blocked Kanye West from performing in Reggio Emilia, citing public order concerns, as his troubled European comeback tour loses another date.
Billionaire Robert F. Smith's company sells renovated Palm Beach estate for $29.25 million
A company linked to billionaire Robert F. Smith and his wife Hope has sold a renovated Palm Beach estate for $29.25 million, recording a tidy profit.
South African billionaire Magda Wierzycka warns the UK is no longer safe for global investors
South African billionaire and Sygnia CEO Magda Wierzycka has warned that the UK is losing its appeal as a destination for serious global investors.
