Featured
Nigerian billionaire Abdul Samad Rabiu's charity launches program for young doctors
ASR Africa, the foundation of Nigerian billionaire Abdul Samad Rabiu, has launched a program to prepare final-year medical students for clinical work, starting in Maiduguri.
Editors' Picks
Nigerian billionaire Abdul Samad Rabiu's charity launches program for young doctors
ASR Africa, the foundation of Nigerian billionaire Abdul Samad Rabiu, has launched a program to prepare final-year medical students for clinical work, starting in Maiduguri.
Indian billionaire Mukesh Ambani expected to receive Rubio at world's largest refinery
Marco Rubio will visit Mukesh Ambani's Jamnagar refinery during an Oct. 17-22 trip that the U.S. ambassador to India calls "a little more business-focused."
Indian billionaire Venu Srinivasan's wife and daughter challenge his wealth split
Venu Srinivasan says he fairly split his TVS businesses between his son and daughter. His wife and daughter say ownership of the wealth remains unresolved.
Exclusive Content For Paid Supporters
The Inside Story: Two Fronts — How Patrice Motsepe Built a Mining Fortune and a Football Presidency, and the Week Both Came Under Pressure
In 1997 a young Johannesburg lawyer bought gold shafts the big miners were giving up. Today Patrice Motsepe runs African Rainbow Minerals and African football. This week both came under pressure: a lawsuit from his mining partner and unrest inside CAF. The man, and the two fronts.
Deep-Dive Report: After the Bell — Airtel Money Slips Below Its Offer, MNT-Halan Draws 11 Times Demand, and What Africa's Listing Window Has Taught Us So Far
Airtel Money opened below its offer price in London. MNT-Halan's institutional book was covered 11 times. Dangote extended his IPO, and Firmus pulled a $30 billion listing in Sydney. The first results from Africa's listing window, and what they tell investors about the rest.
Investor Memo: Seven Times Earnings — What the Dangote Refinery's Nine-Month Numbers Say About the ₦525 Share Price
Nine months, $4.73 billion of net profit and a $650 million net cash pile. At ₦525 a share the Dangote refinery is priced at roughly seven and a half times its annualised earnings. Why the multiple is so low, what could justify it, and what to check before October 27.
Egyptian tycoon Hend El Sherbini buys $7.8 million more of her diagnostics company
Hend El Sherbini's family vehicle bought 15.6 million shares of Integrated Diagnostics Holdings for $7.8 million, two months after her takeover offer closed.
Moroccan billionaire Anas Sefrioui's property firm lifts first-half profit 20%
Groupe Addoha, the Moroccan homebuilder controlled by billionaire Anas Sefrioui, grew first-half profit 20% and holds MAD 12.9 billion in presold homes.
Egyptian billionaire Yasseen Mansour lifts Palm Hills stake as his son takes shares
Egyptian billionaire Yasseen Mansour’s reported stake in Palm Hills Developments increased to 14.11%, while a shareholder disclosure listed his son with 3 million shares.
Wealthy Moroccan businessman Moncef Belkhayat is bringing Intersport stores to Morocco in 2027
Moroccan tycoon Moncef Belkhayat has signed a deal to open Intersport sporting goods stores in Morocco from 2027, starting in Casablanca.
Egyptian fintech tycoon Mounir Nakhla's IPO draws 11 times demand from institutions
More than 300 investors in over 10 countries bid for shares in Mounir Nakhla's MNT-Halan, Egypt's largest fintech lender, ahead of its Cairo listing.
Moroccan billionaire heir Moulay Mhamed Elalamy takes his family's Saham Group into Spain
Moulay Mhamed Elalamy, the 36-year-old chief executive of Morocco's Saham Group, has opened a Madrid investment holding as the family expands beyond Marbella.
Egyptian billionaire Naguib Sawiris-backed graphite firm presses $100 million claim against Guinea
Falcon Energy Materials, backed by Naguib Sawiris's La Mancha and Idrissa Nassa's Coris group, is pressing Guinea for $100 million over a revoked graphite licence.
Moroccan billionaire Aziz Akhannouch's party left out of Morocco's new government
Morocco's incoming prime minister has formed a four-party coalition without billionaire Aziz Akhannouch's RNI, which led the government for the past five years.
Nigerian billionaire Abdul Samad Rabiu's charity launches program for young doctors
ASR Africa, the foundation of Nigerian billionaire Abdul Samad Rabiu, has launched a program to prepare final-year medical students for clinical work, starting in Maiduguri.
Nigerian tycoon Kola Karim’s private jet loses its door minutes after takeoff
A 24-year-old private jet owned by Nigerian oil tycoon Kola Karim lost a door after leaving Abuja. Aviation experts say maintenance was the problem.
Africa's richest man $1.4 billion highway in return for tax credits
Work has begun on a 401-kilometer highway in central Nigeria that Aliko Dangote's group is financing at a cost of ₦1.83 trillion ($1.37 billion).
Nigerian billionaire Jim Ovia’s Zenith Bank discusses Kenya expansion after Paramount Bank acquisition
Zenith Bank has discussed its Kenyan market plans with government officials following its acquisition of Paramount Bank, which gave the Nigerian lender an established foothold in East Africa.
Billionaire TY Danjuma leads $3.75 million drive to restore his 111-year-old alma mater
Retired Lt. Gen. TY Danjuma, a Nigerian billionaire, is leading a N5 billion drive, about $3.75 million, to rehabilitate Government College Katsina-Ala in Benue State.
Nigerian billionaire Aliko Dangote's cement giant lines up $1 billion London listing
Africa's richest man is preparing to sell about 10% of Africa's largest cement maker to global investors through a London listing as soon as November.
Nigerian billionaire Aliko Dangote courts Egyptian investors as Cairo bourse weighs listing
Africa's richest man pitched Egypt as a core market for his industrial empire as the Cairo bourse studies letting locals own his companies.
Nigerian financier Wole Abegunde now controls $61 million stake in fintech firm eTranzact
A little-known firm whose directors include eTranzact chairman Wole Abegunde has taken 56.18% of the Nigerian payments company, prompting a board overhaul.
Sudanese-British billionaire Mo Ibrahim tells Zambia's president not to waste his first term
Mo Ibrahim told Zambia's Hakainde Hichilema not to waste his first-term progress, citing arrests, the death of a former MP and court closures.
Billionaires Narendra Raval, Edha Nahdi bet $600 million on clinker as Sarbjit Rai enters cement business
Narendra Raval's West Pokot plant and Edha Nahdi's Kwale project commit roughly Sh77 billion ($600m) to clinker, the input East Africa has always imported. Now Sarbjit Singh Rai has filed for a third plant in Nyeri.
President Paul Kagame says Rwanda wants a stake in Dangote's $16 billion Kenyan refinery
Rwanda's President Paul Kagame has confirmed his country is in early talks about taking a stake in Aliko Dangote's planned $16 billion Lamu oil refinery, saying Rwanda would be "very happy" to participate.
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
South African billionaire Jannie Mouton's PSG grows client assets to $35.7 billion
PSG Financial Services, part of the empire built by billionaire Jannie Mouton, grew assets under management 15% to R594.1 billion as earnings rose 5%.
South African property tycoon Des de Beer acquires more Lighthouse shares
Delsa Investments, linked to South African property tycoon Des de Beer, bought 5.5 million shares in European mall owner Lighthouse Properties for R44.8 million.
South African billionaire Johann Rupert to collect $22.8 million in Remgro dividends
Rupert Beleggings, which holds Johann Rupert's controlling B shares in Remgro, is due R379.6 million when the investment group pays final and special dividends.
How South African founder Hendrik du Toit built Ninety One, which manages $240 billion
Hendrik du Toit started with an empty desk and less than R200 million in 1991. The firm he built, Ninety One, now manages $240 billion.
South African billionaire Piet Mouton rescues TV thriller after its funder pulled out
Piet Mouton, son of PSG founder Jannie Mouton, funded M-Net thriller Invisible after a backer failed to pay mid-shoot, and lent his house too.
South Africa's wealthy Sacco family accuses billionaire Patrice Motsepe's ARM of power grab
Assore, the mining house controlled by South Africa's Sacco family, says Patrice Motsepe's ARM has taken powers it lacks at their shared mining venture.
Zimbabwean billionaire Kudakwashe Tagwirei joins ruling party's top body days after cabinet post
Kudakwashe Tagwirei, the US-sanctioned tycoon seen as President Mnangagwa's preferred successor, has been given a seat in Zanu-PF's politburo, the party's top decision-making body.
South African billionaire Johann Rupert's Richemont in talks to join De Beers bid
Swiss luxury group Richemont is discussing joining a consortium seeking to acquire De Beers, a move that could give Johann Rupert's company greater control over its diamond supply chain.
Billionaire Mohammed Al-Amoudi accused of funding al-Qaeda in secret Pentagon report
A classified 2002 Pentagon report names billionaire Mohammed Al-Amoudi in an alleged money trail to Osama bin Laden, Swedish broadcaster SVT reports. He denies it.
Ethiopian billionaire Mohammed Al-Amoudi's failed refinery cost Morocco $7 billion
Mohammed Al-Amoudi bought Morocco's only refinery for 4 billion dirhams in 1997. It shut in 2015 owing over $4 billion and has never reopened.
Billionaire Mohammed Al-Amoudi orders his conglomerate to hire 40,000 more Ethiopians
Mohammed Al-Amoudi has instructed MIDROC's chief executive to lift the workforce from about 80,000 to between 100,000 and 120,000 employees.
Tewodros Ashenafi is the man foreign companies use to get into Ethiopia
Tewodros Ashenafi was the local partner on Ethiopia's largest privatisation, a $1.4 billion tobacco deal, and co-owns Ambo with Coca-Cola.
Ethiopian billionaire Mohammed Al-Amoudi is rebuilding his gold business in a new region
MIDROC has ordered Austrian machinery for a plant treating 1.25 million tonnes of ore a year, eight years after Ethiopia suspended its main mine.
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.
Latest Posts
Nigerian billionaire Abdul Samad Rabiu's charity launches program for young doctors
ASR Africa, the foundation of Nigerian billionaire Abdul Samad Rabiu, has launched a program to prepare final-year medical students for clinical work, starting in Maiduguri.
Indian billionaire Mukesh Ambani expected to receive Rubio at world's largest refinery
Marco Rubio will visit Mukesh Ambani's Jamnagar refinery during an Oct. 17-22 trip that the U.S. ambassador to India calls "a little more business-focused."
Indian billionaire Venu Srinivasan's wife and daughter challenge his wealth split
Venu Srinivasan says he fairly split his TVS businesses between his son and daughter. His wife and daughter say ownership of the wealth remains unresolved.
American billionaire Jensen Huang’s Nvidia set for AI partnership with Germany
Germany plans to announce an AI partnership with Nvidia next week, investing several hundred million euros as Jensen Huang visits Berlin for an investment summit.
American billionaire Brian Venturo’s CoreWeave bonds slide as AI debt fears mount
Yields on bonds from Brian Venturo’s CoreWeave climbed to about 15% this week as investors questioned the AI cloud firm’s roughly $50 billion debt.
American billionaire Charles Ergen, Adelsons each gave $25 million for Trump's ballroom
Charles Ergen and the Adelson family each committed $25 million to President Trump's White House ballroom, the top amount given, according to donor records.
Media mogul Byron Allen seeks streaming deal for his CBS late-night shows
Byron Allen is in talks to take his two CBS late-night shows to a major streaming service as new Nielsen figures show younger audiences growing.
Nigerian tycoon Kola Karim’s private jet loses its door minutes after takeoff
A 24-year-old private jet owned by Nigerian oil tycoon Kola Karim lost a door after leaving Abuja. Aviation experts say maintenance was the problem.
Egyptian tycoon Hend El Sherbini buys $7.8 million more of her diagnostics company
Hend El Sherbini's family vehicle bought 15.6 million shares of Integrated Diagnostics Holdings for $7.8 million, two months after her takeover offer closed.
Elon Musk settles lawsuits over $1 million voter giveaway
Elon Musk and America PAC have agreed to settle two lawsuits accusing them of misleading voters with a $1 million-a-day giveaway before the 2024 election.
Africa's richest man $1.4 billion highway in return for tax credits
Work has begun on a 401-kilometer highway in central Nigeria that Aliko Dangote's group is financing at a cost of ₦1.83 trillion ($1.37 billion).
Nigerian billionaire Jim Ovia’s Zenith Bank discusses Kenya expansion after Paramount Bank acquisition
Zenith Bank has discussed its Kenyan market plans with government officials following its acquisition of Paramount Bank, which gave the Nigerian lender an established foothold in East Africa.
Elon Musk unveils Tesla Roadster fitted with SpaceX thrusters
Elon Musk unveiled a redesigned Tesla Roadster with SpaceX-built thrusters, saying production will start in 2028, eight years later than first promised.
American billionaire Elon Musk, TSMC at odds over Texas chip plant control
TSMC confirmed talks to join Elon Musk's Terafab chip project in Texas but insists it must run any plant, a role Musk has ruled out.
Billionaire Patrick Soon-Shiong wins wider FDA approval for bladder cancer drug
US regulators expanded approval of ImmunityBio's Anktiva to papillary bladder tumors, months early, lifting the value of Patrick Soon-Shiong's $6.5 billion stake.
Moroccan billionaire Anas Sefrioui's property firm lifts first-half profit 20%
Groupe Addoha, the Moroccan homebuilder controlled by billionaire Anas Sefrioui, grew first-half profit 20% and holds MAD 12.9 billion in presold homes.