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Africa Finance Corporation lends Dangote Group $600 million to triple its fertiliser production capacity
Africa Finance Corporation has signed a $600 million loan with Dangote Group to triple fertiliser production capacity in Nigeria and build a new plant in Ethiopia.
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Africa Finance Corporation lends Dangote Group $600 million to triple its fertiliser production capacity
Africa Finance Corporation has signed a $600 million loan with Dangote Group to triple fertiliser production capacity in Nigeria and build a new plant in Ethiopia.
Multimillionaire Gerrie Fourie says South Africa's dysfunction is exactly what makes it worth staying for
Capitec co-founder Gerrie Fourie says South Africa's dysfunction creates opportunities unavailable elsewhere and urged South Africans considering emigration to think carefully before leaving.
Nigerian beverage heiress Kudirat Adegunwa-Balogun becomes ruling party's candidate for deputy governor of Ogun State
Kudirat Adegunwa-Balogun, CFO of Rite Foods and daughter of Nigerian beverage billionaire Adebola Adegunwa, has been named APC deputy governorship candidate for Ogun State's 2027 election.
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A decade in the making and only now running at full capacity, the world’s most ambitious refinery had never carried a market price. In ten days this month, it finally did — and the demand suggests the number is a floor.
Deep-Dive Report: Naguib Sawiris – The Safe-Haven Pivot
The eldest Sawiris turned a telecom windfall into a gold-and-property empire built for turbulent times — and his net worth now depends on which index you read. Inside the holdings, the strategy, and the range.
Wealth Intelligence: Patrice Motsepe – The $700 Million Reversal
A gold correction stripped $700 million from South Africa’s richest Black industrialist in three months. The episode is a window into a fortune built on mining beta — and the quieter machine built to offset it.
Saudi billionaire Abdulrahman Sharbatly's Golden Pyramids Plaza posts an 89% profit drop in Egypt
Saudi billionaire Abdulrahman Sharbatly's Golden Pyramids Plaza posted an 89% year-on-year profit collapse in Q1 2026 to $4.9 million despite revenues holding near $25.4 million.
Ahmed Abou Hashima bet $1 billion on Egyptian steel at 35 and became one of Egypt's most powerful industrialists
Ahmed Abou Hashima invested over $1 billion at 35 to build Egyptian Steel and has since expanded into cement, media, agriculture, solar energy and banking.
Egyptian billionaire Naguib Sawiris is opening a 93-room five-star resort in Mykonos after his first hotel shut down
Naguib Sawiris is pressing ahead with a 93-room five-star resort in Mykonos set to open in May 2027, a year after his first hotel on the island shut down.
Egyptian fintech entrepreneur Mounir Nakhla's MNT-Halan hits $1.4 billion valuation
Egypt's MNT-Halan has hit a $1.4 billion valuation after Al Ahly Capital led a new funding round marking the first time a commercial bank has taken an equity stake in the fintech unicorn.
Nassef Sawiris' Aston Villa has no shirt sponsor and a £40 million deal is sitting on the table
Aston Villa heads into the Champions League season without a shirt sponsor, with a £40 million deal sitting unclaimed as Nassef Sawiris' club weighs its options.
This Moroccan woman took over her late husband's company and now runs a $430 million food and wine empire
Rita Maria Zniber married the founder of Morocco's largest private agribusiness empire in 1979, spent three decades learning it from the inside and has run it since 2014.
Egyptian billionaire Naguib Sawiris wants Egypt to export its stray dogs abroad instead of culling them
Egyptian billionaire Naguib Sawiris has called for a national programme to collect, treat and export Egypt's stray dogs to countries where demand for pets exists.
Egyptian billionaire Naguib Sawiris calls for Egypt's state TV to be shut down
Egyptian billionaire Naguib Sawiris has ignited a fierce national debate after publicly calling for Egypt's state television channels to be closed over billions in annual losses.
Africa Finance Corporation lends Dangote Group $600 million to triple its fertiliser production capacity
Africa Finance Corporation has signed a $600 million loan with Dangote Group to triple fertiliser production capacity in Nigeria and build a new plant in Ethiopia.
Nigerian billionaire Femi Otedola completes London Business School programme
Nigerian billionaire Femi Otedola, who dropped out of high school at 17 without completing his A-Levels, has completed an executive programme at London Business School at 63.
Nigerian beverage heiress Kudirat Adegunwa-Balogun becomes ruling party's candidate for deputy governor of Ogun State
Kudirat Adegunwa-Balogun, CFO of Rite Foods and daughter of Nigerian beverage billionaire Adebola Adegunwa, has been named APC deputy governorship candidate for Ogun State's 2027 election.
Wealthy Nigerian senator Abdulaziz Yari accused of illegal gold mining as law enforcement seizes $3 million in gold
Abdulaziz Yari became Geregu Power chairman after spending N1.08 trillion ($793 million) on the acquisition as a civil society group links him to illegal gold mining.
Idrissa Nassa's Coris Holding raises its stake in Cape Verde's biggest bank to 62.25%
Idrissa Nassa's Coris Holding has raised its stake in Cape Verde's biggest bank to 62.25% after completing a mandatory public acquisition offer targeting minority shareholders.
Dangote Refinery is ramping up Nigerian crude purchases as the Iran war disrupts global oil markets
Dangote Refinery is ramping up purchases of Nigerian crude as the Iran war reduces overseas demand for West African grades and lifts Nigerian crude premiums.
Africa's richest man has publicly donated $47 million to charity so far in 2026
Aliko Dangote has publicly donated at least $47 million to named causes in the first six months of 2026 through his foundation and personal gifts.
Nigerian banking tycoon Aigboje Aig-Imoukhuede says Access Holdings is done buying banks after 20 acquisitions
Access Holdings chairman Aigboje Aig-Imoukhuede says the group has concluded 20 acquisitions in 20 years and is now shifting focus entirely to shareholder returns.
Kenyan tycoon TK Muya's Family Bank wins regulatory approval for its long-awaited NSE listing
Family Bank has received Capital Markets Authority approval to list on the Nairobi Securities Exchange on June 23 after raising KES 8 billion ($61.8 million) in 2025.
Adil Popat's Simba Corp commits $7.7 million to Kenya electric vehicle assembly line
Adil Popat's Simba Corp is investing Sh1 billion ($7.7 million) in a dedicated electric vehicle assembly line at its Mombasa plant through subsidiary Associated Vehicle Assemblers.
WPP crushes Kenyan entrepreneur Bharat Thakrar's bid to reclaim Scangroup at AGM
WPP Plc used its 56.26% controlling stake to defeat Bharat Thakrar's attempt to oust the entire WPP Scangroup board at Monday's annual general meeting in Nairobi.
Kenyan billionaire Vimal Shah and ex-CBK governor lose $15 million Tatu City battle at Privy Council
Bidco Africa chairman Vimal Shah and former CBK governor Nahashon Nyagah have lost their two-decade fight to retain a stake in Kenya's Sh240 billion Tatu City development.
Jeff Bezos takes on Elon Musk in Kenya with Amazon Kuiper satellite internet bid
Amazon Kuiper Kenya has applied for a satellite internet licence in Kenya, putting Jeff Bezos on a direct collision course with Elon Musk's Starlink in East Africa.
Madagascar multimillionaire Mamy Ravatomanga loses control of his Sodiat empire to courts
Madagascar courts have seized control of Sodiat Group's subsidiaries as founder Mamy Ravatomanga remains jailed in Mauritius facing money laundering and corruption charges.
Kenyan billionaire Gideon Moi used his newspaper to mock Ruto and the president's allies hit back hard
Kenya's Moi family business empire is again at the centre of a fresh political clash after The Standard published a headline mocking President William Ruto.
Merali family's Sasini terminates $61 million Kenyan coffee estate sale after buyer defaults
Sasini Plc, majority owned by Kenya's Merali family, has cancelled the planned Sh7.9 billion sale of its Gulmarg coffee estate after the buyer failed to meet contractual obligations.
Billionaire Christo Wiese's Shoprite just blew past its store opening target
Shoprite has exceeded its full-year store opening target with a month to go, boosting the value of Christo Wiese's $1.2 billion stake in the retailer.
Multimillionaire Gerrie Fourie says South Africa's dysfunction is exactly what makes it worth staying for
Capitec co-founder Gerrie Fourie says South Africa's dysfunction creates opportunities unavailable elsewhere and urged South Africans considering emigration to think carefully before leaving.
South African billionaire Rob Hersov tells the mining minister to fix the sector or forfeit the country's future
South African billionaire Rob Hersov has published a second open letter to Minerals Minister Gwede Mantashe arguing that policy failures are destroying South Africa's mining sector.
South African IT billionaire Robert Gumede is near a deal to save a 134-year-old sugar company from collapse
Robert Gumede's Vision Group and South Africa's IDC are near a deal that could finally resolve the Tongaat Hulett crisis ahead of a critical June 17 court hearing.
South African fashion tycoon Michael Lewis just bought $5 million of stock in his own retail empire
TFG non-executive chairman Michael Lewis has bought R83 million ($5 million) worth of shares in the South African retail group, nearly doubling his personal stake.
South Africa's president is worth over $500 million but a $580,000 farm scandal is threatening his presidency
Forbes last put Cyril Ramaphosa's net worth at $450 million in 2015. Eleven years on he is likely worth far more and is still fighting a $580,000 scandal.
Tycoon Sandile Zungu's Madagascar nickel mine is back in production after a cyclone knocked it out for four months
Madagascar's Ambatovy nickel mine, being acquired by Sandile Zungu's ZICO consortium, has restarted production after a four-month shutdown caused by Cyclone Gezani damage.
Billionaire Zak Calisto's Cartrack faces scrutiny after a 29-year-old employee died at its Rosebank office
Zak Calisto's Cartrack is under scrutiny after 29-year-old employee Gcina Dhladhla died at its Rosebank head office on June 6, prompting calls for a Labour Department investigation.
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.
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Lionel Richie filed four trademarks on his own voice to stop AI from cloning it without permission
Lionel Richie has filed four trademark applications on his voice to stop AI platforms from cloning it without his permission or compensation.
Nigerian-born Hakeem Olajuwon built a $300 million fortune without ever borrowing a dollar
Hakeem Olajuwon left Lagos as a teenage goalkeeper, became the NBA's best center, then built a $300 million fortune refusing to borrow a cent.
Hakeem Olajuwon built a $300 million real estate empire without borrowing a single dollar
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Paul Pogba built a $10 million home portfolio he kept walking away from
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Africa Finance Corporation lends Dangote Group $600 million to triple its fertiliser production capacity
Africa Finance Corporation has signed a $600 million loan with Dangote Group to triple fertiliser production capacity in Nigeria and build a new plant in Ethiopia.
Billionaire Christo Wiese's Shoprite just blew past its store opening target
Shoprite has exceeded its full-year store opening target with a month to go, boosting the value of Christo Wiese's $1.2 billion stake in the retailer.
Multimillionaire Gerrie Fourie says South Africa's dysfunction is exactly what makes it worth staying for
Capitec co-founder Gerrie Fourie says South Africa's dysfunction creates opportunities unavailable elsewhere and urged South Africans considering emigration to think carefully before leaving.
NBA champions New York Knicks are paying their roster $211 million and Karl-Anthony Towns leads at $53 million
The NBA champion New York Knicks carry a $211.7 million payroll, second highest in the league, led by Karl-Anthony Towns at $53.1 million this season.
The Inside Story: The $39 Billion Question
A decade in the making and only now running at full capacity, the world’s most ambitious refinery had never carried a market price. In ten days this month, it finally did — and the demand suggests the number is a floor.
Deep-Dive Report: Naguib Sawiris – The Safe-Haven Pivot
The eldest Sawiris turned a telecom windfall into a gold-and-property empire built for turbulent times — and his net worth now depends on which index you read. Inside the holdings, the strategy, and the range.
Wealth Intelligence: Patrice Motsepe – The $700 Million Reversal
A gold correction stripped $700 million from South Africa’s richest Black industrialist in three months. The episode is a window into a fortune built on mining beta — and the quieter machine built to offset it.
African Wealth Briefing — Mon., June 15, 2026
Rob Hersov tells the mines minister to fix the sector or forfeit the country's future. Robert Gumede nears a deal to resolve the Tongaat Hulett crisis.
Nigerian billionaire Femi Otedola completes London Business School programme
Nigerian billionaire Femi Otedola, who dropped out of high school at 17 without completing his A-Levels, has completed an executive programme at London Business School at 63.
Nigerian beverage heiress Kudirat Adegunwa-Balogun becomes ruling party's candidate for deputy governor of Ogun State
Kudirat Adegunwa-Balogun, CFO of Rite Foods and daughter of Nigerian beverage billionaire Adebola Adegunwa, has been named APC deputy governorship candidate for Ogun State's 2027 election.
Kenyan banker James Mwangi gains $8 million in four months on Equity Group stake
James Mwangi's 127.8 million Equity Group shares are now worth $75 million, up $8 million since Billionaires.Africa ranked him fourth on the NSE rich list in February.
Madagascar billionaire Hassanein Hiridjee's Axian Telecom secures €170 million EBRD loan to expand African networks
Hassanein Hiridjee's Axian Telecom has lined up a fresh €170 million EBRD loan to expand mobile and fibre infrastructure across Senegal and Kenya.
