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Tetracore Energy opens CNG station in Benin City to fuel Nigeria's gas push
Tetracore Energy Group has commissioned a new CNG station in Uwusan, Benin City, capable of fueling up to 200 vehicles daily.
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Billionaire Michael Jordan's private dining club has not yet opened in Sarasota, and it is already getting bigger
Michael Jordan's members-only dining club 1000 North has gone under contract to buy an adjacent downtown Sarasota property, expanding before the club has even opened its doors.
Oriental Weavers, controlled by Egypt's wealthy Khamis family, pays $18.3 million dividend for 2025 on flat profit
Egypt's Oriental Weavers Carpets will pay EGP 997.66 million ($18.3 million) in dividends for 2025, starting May 2026, as the world's largest carpet maker held profit nearly flat on record revenue.
Nigeria owes its most powerful businesspeople billions and is now trying to pay them back with a N3.3 trillion bond backed by the state
Nigeria's N3.3 trillion power sector debt settlement puts the Tinubu government in the awkward position of owing billions to the country's most powerful private investors.
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Investor Memo: The Kirsh Effect: What Africa’s Invisible Second-Richest Man Reveals About How Wealth Is Really Built on This Continent
Nathan Kirsh was invisible to every wealth ranking until Sysco priced his grocery empire at $29.1 billion — now he is Africa's second richest person, and we break down what his emergence reveals about where the continent's real wealth lives.
Investor Memo: South Africa’s Fuel Reckoning: Two Weeks of Reserves, a Record Price Shock, and No Quick Fix
South Africa faces the largest fuel price adjustment in its history on April 1 — with two weeks of reserves, 75 percent diesel import dependence, and farmers at 20 percent allocations, we break down who is exposed and what comes next.
Deep-Dive Report: Africa's Refining Revolution — How the Hormuz Crisis Is Rewriting the Map
Africa spends $60 billion a year importing fuel it could refine at home — the Hormuz crisis just proved why that model is broken, and Dangote's 456,000-tonne export run shows the fix is already under way.
Oriental Weavers, controlled by Egypt's wealthy Khamis family, pays $18.3 million dividend for 2025 on flat profit
Egypt's Oriental Weavers Carpets will pay EGP 997.66 million ($18.3 million) in dividends for 2025, starting May 2026, as the world's largest carpet maker held profit nearly flat on record revenue.
How Lindsay Lee spotted AppLovin before it was worth $130 billion and what he backed next
Lindsay Lee led early bets on AppLovin and Guardant Health before founding Authentic Ventures. Here are the businesses across his portfolio.
Morocco tycoon Chakib Alj warns Middle East war is hitting supply chains
Morocco’s top business lobby says rising costs, port congestion and shipping delays are squeezing companies as the Middle East war disrupts trade.
Billionaire Anas Sefrioui's Addoha posts 70% profit jump to 516 million dirhams as Morocco's largest property developer shifts to value-driven growth
Anas Sefrioui's Addoha posted a 70% net profit rise to 516 million dirhams ($55 million) in 2025, driven by tighter project selection and improved execution across Morocco and West Africa.
King Mohammed VI's Managem invests $750 million to double gold production to 500k oz
Morocco's Managem Group plans to invest $750 million to raise gold production by 134% to 500,000 ounces by the end of the decade after net profit surged 384% to $322 million in 2025.
Nassef Sawiris's Orascom Construction posts record $9 billion backlog and a 65% profit jump
Orascom Construction posted a record $9 billion backlog and a 65% profit jump in 2025 as the United States became a major growth driver for the group.
Moroccan billionaire Othman Benjelloun’s Bank of Africa makes Forbes MENA top 100
Othman Benjelloun's Bank of Africa ranked 88th in the Forbes Middle East 2026 list of the region's 100 most valuable companies.
Mohamed Mansour's San Diego FC emerges as frontrunner to sign Mohamed Salah after Liverpool exit
Mohamed Mansour's San Diego FC is among the clubs most prominently linked to signing Mohamed Salah after the Egyptian superstar confirmed his Liverpool exit.
Nigeria owes its most powerful businesspeople billions and is now trying to pay them back with a N3.3 trillion bond backed by the state
Nigeria's N3.3 trillion power sector debt settlement puts the Tinubu government in the awkward position of owing billions to the country's most powerful private investors.
Ibrahim Mahama's Engineers and Planners wins competitive tender for Ghana's Damang gold mine after Gold Fields' 30-year tenure ends
Ghana has awarded the Damang gold mine lease to Ibrahim Mahama's Engineers and Planners after the firm scored highest in a 4-company competitive tender, beating out three rivals.
Tetracore Energy opens CNG station in Benin City to fuel Nigeria's gas push
Tetracore Energy Group has commissioned a new CNG station in Uwusan, Benin City, capable of fueling up to 200 vehicles daily.
Adaora Umeoji's Zenith Bank shares are now worth $21 million
Zenith Bank CEO Adaora Umeoji holds 285,096,933 shares in the lender worth N29.3 billion at current market prices, making her one of Nigeria's wealthiest banking executives.
Nigerian billionaire Jim Ovia to pocket $41.5 million in Zenith Bank dividends
Zenith Bank plans to double its total dividend to N10 per share for 2025, which would hand founder and chairman Jim Ovia a payout of approximately N58 billion.
Meet Jackie Aina, the Nigerian-American soldier who built a multimillion-dollar beauty empire by refusing to let the industry ignore dark skin
Jackie Aina left the US Army, launched a YouTube channel, and built FORVR Mood into a multimillion-dollar beauty empire by championing women with darker skin.
Billionaires Femi Otedola and Aliko Dangote met President Tinubu on Easter Sunday to discuss Nigeria's economy and ongoing reforms
Femi Otedola confirmed that he and Aliko Dangote spent Easter Sunday with President Bola Tinubu to discuss Nigeria's economy and its ongoing reforms.
African stock exchanges eye Dangote refinery IPO as NGX convenes JSE, NSE, GSE and BRVM for cross-border listing talks
NGX Group has convened chiefs of five African stock exchanges in Lagos to advance cross-border listings of the Dangote Refinery ahead of a June-July 2026 IPO on the NGX.
Kenya's Court of Appeal frees billionaire John Kibunga Kimani from completing Sh205 million Makuyu land sale after overturning Environment and Land Court order
Kenya's Court of Appeal has overturned an order requiring billionaire John Kibunga Kimani's Rural Development Services to complete a Sh205 million land sale in Makuyu.
Standard Chartered says Kenya's wealthy investors are moving into ESG assets and offshore markets
Kenya's high-net-worth investors are moving away from residential property into ESG assets and offshore markets, according to Standard Chartered executives speaking in Nairobi.
Tanzanian billionaire Abubakar Bakhresa inducted into the 2026 Milling Hall of Fame as Bakhresa Group's daily milling capacity reaches 8,560 tonnes
Abubakar Bakhresa, an executive director of the Bakhresa Group, has been named to the FlourWorld Museum's 2026 Milling Hall of Fame for his role in expanding East Africa's largest milling operation to 8,560 tonnes of daily capacity.
9 companies owned by Ethiopian billionaire Belayneh Kindie
Ethiopian billionaire Belayneh Kindie controls a sprawling empire of companies across agriculture, manufacturing, transport and hospitality.
Kenyan tycoon Mohammed Jaffer's One Petroleum imported fuel at 3x govt rate during Iran crisis
One Petroleum, a subsidiary of Mombasa billionaire Mohammed Jaffer's Mbaraki Bulk Terminal, was cleared to import 60 tonnes of petrol at three times the government rate as Kenya's Iran war crisis drove fuel supply shortages.
James Mwangi, the Ndegwa and Kenyatta families to pocket Sh5.75 billion in Kenya bank dividends
Kenya's record bank profit year will deliver Sh5.75 billion in dividends to the country's richest investors including James Mwangi and the Ndegwa family.
Madagascar tycoon Hassanein Hiridjee backs USDh stablecoin through AXIAN Investment
AXIAN Group CEO Hassanein Hiridjee has backed Hamilton Labs' USDh stablecoin, betting digital dollars can solve Africa's savings and payments problems.
Tosin Eniolorunda's Moniepoint enters Kenya with 78 percent stake in Sumac Microfinance Bank
Tosin Eniolorunda's Moniepoint has acquired a 78 percent majority stake in Kenya's Sumac Microfinance Bank, marking the Nigerian fintech's first major entry into East Africa.
Tycoon Ken Sharpe’s WestProp launches Chivhu Eco City, a 5,000-hectare development with 20,000 properties and Zimbabwe's first 30-year mortgage
WestProp Holdings has unveiled Chivhu Eco City, a 5,000-hectare project set to deliver 20,000 properties with Zimbabwe's first 30-year mortgage terms.
Here is everything you need to know about Nathan Kirsh, Africa's new 2nd richest man who built a $17 billion fortune by selling groceries to restaurant owners nobody else wanted to serve
Nathan Kirsh has become Africa's second richest person at $17.1 billion. Here is everything you need to know about the 94-year-old billionaire from Eswatini.
Eswatini billionaire Nathan Kirsh overtakes Johann Rupert and Abdulsamad Rabiu to become Africa's 2nd richest person
Nathan Kirsh is selling Jetro Restaurant Depot to Sysco at a $29.1 billion valuation, a deal that adds at least $10 billion to the 94-year-old South African billionaire's fortune.
Netflix grants billionaire Strive Masiyiwa 654 stock options at $95.55 as Netflix trades near $980
Netflix has granted board director Strive Masiyiwa 654 non-qualified stock options at an exercise price of $95.55 per share, expiring April 2036.
SpaceX files for a June IPO targeting a $1.75 trillion valuation that would push Elon Musk toward trillionaire status
SpaceX has confidentially filed for an IPO targeting a $1.75 trillion valuation and a raise of up to $75 billion, which would be the largest public offering in history and push Elon Musk toward trillionaire status.
South African tycoon Robert Gumede faces R390 Million Covid-19 PPE fraud claim amid Tongaat Hulett bid
South African billionaire Robert Gumede is pursuing a takeover of Tongaat Hulett through Vision Sugar while facing a R390 million Special Tribunal claim that he masterminded a Covid-19 PPE price-gouging scandal involving SAPS.
Wicknell Chivayo's estranged wife demands $25 million, $40,000 a month and three Rolls-Royces in Zimbabwe High Court divorce battle
Sonja Madzikanda is suing Wicknell Chivayo for a $25 million lump sum, $40,000 monthly maintenance and three Rolls-Royces in a High Court battle over their 2017 customary marriage.
Strive Masiyiwa's Econet InfraCo lists on Zimbabwe's VFEX at $1 billion in the largest initial listing in the country's capital markets history
Strive Masiyiwa's Econet InfraCo has listed on Zimbabwe's Victoria Falls Stock Exchange at $1 billion, the largest initial listing in the country's capital markets history.
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.
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.
Latest Posts
Billionaire Michael Jordan's private dining club has not yet opened in Sarasota, and it is already getting bigger
Michael Jordan's members-only dining club 1000 North has gone under contract to buy an adjacent downtown Sarasota property, expanding before the club has even opened its doors.
Oriental Weavers, controlled by Egypt's wealthy Khamis family, pays $18.3 million dividend for 2025 on flat profit
Egypt's Oriental Weavers Carpets will pay EGP 997.66 million ($18.3 million) in dividends for 2025, starting May 2026, as the world's largest carpet maker held profit nearly flat on record revenue.
Nigeria owes its most powerful businesspeople billions and is now trying to pay them back with a N3.3 trillion bond backed by the state
Nigeria's N3.3 trillion power sector debt settlement puts the Tinubu government in the awkward position of owing billions to the country's most powerful private investors.
Ibrahim Mahama's Engineers and Planners wins competitive tender for Ghana's Damang gold mine after Gold Fields' 30-year tenure ends
Ghana has awarded the Damang gold mine lease to Ibrahim Mahama's Engineers and Planners after the firm scored highest in a 4-company competitive tender, beating out three rivals.
How Lindsay Lee spotted AppLovin before it was worth $130 billion and what he backed next
Lindsay Lee led early bets on AppLovin and Guardant Health before founding Authentic Ventures. Here are the businesses across his portfolio.
How Tarrus Richardson built a $500 million private equity empire on businesses others overlook
Tarrus Richardson built IMB Partners into a leading minority-owned US private equity firm. Here are the businesses at the center of his empire.
Meet Howard Sanders, the man who left Citigroup to build a $1.3 billion Black-owned private equity firm
Howard Sanders walked away from Citigroup in 2011 with a plan and a conviction. Auldbrass Partners, now worth $1.3 billion, is what happened next.
African Wealth Briefing — Wed., April 8, 2026
Zenith Bank CEO Adaora Umeoji's 285 million-share stake is now worth $21 million, plus diaspora profiles of Charles Phillips, Tammy Jones and Paul Judge — and our April Investor Memo on the Kirsh Effect remains available for Elite subscribers.
Tetracore Energy opens CNG station in Benin City to fuel Nigeria's gas push
Tetracore Energy Group has commissioned a new CNG station in Uwusan, Benin City, capable of fueling up to 200 vehicles daily.
Adaora Umeoji's Zenith Bank shares are now worth $21 million
Zenith Bank CEO Adaora Umeoji holds 285,096,933 shares in the lender worth N29.3 billion at current market prices, making her one of Nigeria's wealthiest banking executives.
Tammy Jones built a $9 billion real estate platform from inside Wall Street's biggest names
Tammy Jones founded Basis Investment Group, one of the few Black- and woman-led commercial real estate platforms, closing nearly $9 billion in deals.
Paul Judge built and sold three tech companies, then launched the Southeast's largest venture fund
Paul Judge co-founded Panoramic Ventures, the Southeast's largest venture fund, after building three acquired tech companies including Pindrop and CipherTrust.
How Charles Phillips went from Air Force cadet to a $13 billion tech empire
Charles Phillips served in the Marines, climbed Wall Street, ran Oracle and built a $13 billion software company. Recognize came next.
Nigerian billionaire Jim Ovia to pocket $41.5 million in Zenith Bank dividends
Zenith Bank plans to double its total dividend to N10 per share for 2025, which would hand founder and chairman Jim Ovia a payout of approximately N58 billion.
Inside the companies Damien Dwin built after Goldman Sachs, Credit Suisse and a $6 billion firm
Damien Dwin built two major investment firms before turning 50. Here are the companies and platforms he controls today.
Meet Jackie Aina, the Nigerian-American soldier who built a multimillion-dollar beauty empire by refusing to let the industry ignore dark skin
Jackie Aina left the US Army, launched a YouTube channel, and built FORVR Mood into a multimillion-dollar beauty empire by championing women with darker skin.
