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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.
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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.
Nigerian tycoon Ernest Azudialu owns $3.9 million Houston mansion while banks absorb $2.1 billion debt
An investigation by Secret Reporters has revealed that Nestoil's Ernest Azudialu owns a $3.9 million Houston mansion acquired in 2011 as his companies drew $700 million in Nigerian bank loans.
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.
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Deep-Dive Report: Tony Elumelu — The Crown Jewel
A banker turned energy consolidator is building a self-reinforcing African conglomerate — and his move on Seplat is the most consequential yet. Inside the architecture, the catalyst, and why we decline to put a net-worth figure on him.
Wealth Intelligence: Jim Ovia — The $643 Million Pivot
The founder of Nigeria’s most profitable bank has left its chairmanship — and is pouring his conviction into the Lagos skyline. A full read of where the fortune sits, and where it’s moving.
The Inside Story: The Bridge Between Friends
How a near-two-decade friendship between South Africa’s richest man and Rurik Göbel collapsed over a R2.3 billion Stellenbosch land deal.
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.
Algeria's jailed auto billionaire Mahieddine Tahkout gets 10 more years and loses everything he owns
Algeria's financial crimes tribunal has sentenced jailed tycoon Mahieddine Tahkout to 10 years in prison and ordered the confiscation of all his assets worldwide.
Morocco's palace is quietly planning for life after billionaire Othman Benjelloun at Bank of Africa
Othman Benjelloun built Morocco's Bank of Africa into a 32-country pan-African giant. At 93, the question of who leads it next is no longer avoidable.
Nigerian tycoon Ernest Azudialu owns $3.9 million Houston mansion while banks absorb $2.1 billion debt
An investigation by Secret Reporters has revealed that Nestoil's Ernest Azudialu owns a $3.9 million Houston mansion acquired in 2011 as his companies drew $700 million in Nigerian bank loans.
Ghana president's billionaire brother Ibrahim Mahama accused of benefiting from gold mining reforms
Ibrahim Mahama's Engineers & Planners faces cronyism allegations as critics claim Ghana's mining reforms under his brother President John Mahama disproportionately benefit his company.
Nigeria's 2nd richest man takes delivery of $81 million Bombardier Global 8000
Abdul Samad Rabiu has taken delivery of a Bombardier Global 8000 worth $81 million (N110 billion), the world's fastest business jet, completing an order he signed in December 2025.
Nigerian tycoon Tony Elumelu named Seplat Energy chairman
Tony Elumelu will become Seplat Energy chairman in January 2027 as Effiong Okon takes over as CEO in August, completing a sweeping leadership transition at Nigeria's largest indigenous energy company.
Africa's largest bank Standard Bank takes leading role in Dangote refinery IPO
Standard Bank CEO Sim Tshabalala has pledged leading-role support for the Dangote refinery IPO and future expansion after touring the Lagos facility with senior executives.
Nigerian oil and banking tycoon Michael Prest wins again as St Kitts court voids his bank's $120,000 fine
Nigerian oil tycoon Michael Prest has won another court ruling in St Kitts and Nevis after the Court of Appeal found the banking regulator had no authority to fine his bank $120,000.
Nigerian billionaire Jim Ovia bets on Lagos luxury real estate after stepping down as Zenith chairman
Zenith Bank founder Jim Ovia is building two luxury residential towers in Lagos with units from $1.85 million as he pivots to real estate after leaving the bank's chairmanship.
Ghanaian oil tycoon Kevin Okyere confirms Dubai detention and $50 million loan in court
Springfield founder Kevin Okyere has confirmed under cross-examination that he was detained in Dubai and that a Springfield entity drew down $50 million from a Petraco facility.
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.
Uganda's richest man Sudhir Ruparelia earns almost $10 million a year renting offices to his own government
Uganda's richest man Sudhir Ruparelia collects UGX3.152 billion ($836,000) monthly from government ministries renting his Kampala properties as parliamentary scrutiny of the arrangement intensifies.
Japan's Marubeni buys Tiger Wheel & Tyre owner TiAuto in landmark South Africa deal
Japan's Marubeni has acquired South Africa's TiAuto Investments, operator of Tiger Wheel & Tyre, in a landmark deal valued at roughly $149 million.
South African billionaire Magda Wierzycka despises AI but is launching a fund to invest in it anyway
Sygnia CEO Magda Wierzycka says she would press delete on AI if she could, but is launching an AI venture capital fund to ensure South Africa captures the technology's upside.
South African billionaire Mark Shuttleworth-linked Knife Capital exits VoxCroft in US intelligence deal
Knife Capital, the direct successor to Mark Shuttleworth's Here Be Dragons venture capital operation, has exited VoxCroft Analytics in a US intelligence firm acquisition.
South African tycoon Iqbal Surve quits Sekunjalo as media subsidiary IOL launches $12.4 million expansion
Iqbal Surve has stepped down as Sekunjalo Investment Holdings chair after more than two decades as IOL announces a R200 million ($12.4 million) digital expansion plan.
South Africa's richest black person loses $700 million in 3 months
A gold price crash and a 34% Harmony Gold selloff have erased $700 million from Patrice Motsepe's fortune since March, Forbes data shows.
Adrian Gore's Discovery helped save South Africa from load shedding and Johannesburg wants the same fix
The same business-government partnership that ended South Africa's load shedding is being called up again, this time to rescue a collapsing Johannesburg.
Absa CEO Kenny Fihla's $9 million pay triggers shareholder revolt
Absa Group shareholders delivered a 43.37% vote against the bank's executive pay report at its AGM over CEO Kenny Fihla's R148 million compensation package for 2025.
South Africa's richest man wins $139 million Stellenbosch land fight against former friend
Johann Rupert has won the boardroom battle for control of The Bridge Stellenbosch after a bitter dispute with former friend Rurik Göbel over a R2.3 billion land deal.
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.
Latest Posts
Deep-Dive Report: Tony Elumelu — The Crown Jewel
A banker turned energy consolidator is building a self-reinforcing African conglomerate — and his move on Seplat is the most consequential yet. Inside the architecture, the catalyst, and why we decline to put a net-worth figure on him.
Wealth Intelligence: Jim Ovia — The $643 Million Pivot
The founder of Nigeria’s most profitable bank has left its chairmanship — and is pouring his conviction into the Lagos skyline. A full read of where the fortune sits, and where it’s moving.
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.
Nigerian tycoon Ernest Azudialu owns $3.9 million Houston mansion while banks absorb $2.1 billion debt
An investigation by Secret Reporters has revealed that Nestoil's Ernest Azudialu owns a $3.9 million Houston mansion acquired in 2011 as his companies drew $700 million in Nigerian bank loans.
Shaquille O'Neal earned $292 million in the NBA and built a $500 million empire
Shaquille O'Neal earned a fortune dunking basketballs, then earned a bigger one investing in the everyday brands ordinary people actually use.
Jay-Z's MarcyPen emerges as frontrunner to buy LVMH's $1 billion stake in Fenty Beauty
Jay-Z's MarcyPen Capital Partners has emerged as the leading contender to acquire LVMH's 50% stake in Rihanna's Fenty Beauty, valued at between $1 billion and $2 billion.
Japan's Marubeni buys Tiger Wheel & Tyre owner TiAuto in landmark South Africa deal
Japan's Marubeni has acquired South Africa's TiAuto Investments, operator of Tiger Wheel & Tyre, in a landmark deal valued at roughly $149 million.
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.
Vinnie Johnson left the NBA and built a $500 million auto-parts empire
Vinnie Johnson hit one of the most famous shots in NBA Finals history, then quietly built a $3.4 billion auto-parts company few fans ever noticed.
How Positive Outcomes Shape User Behavior in Digital Entertainment
Learn how rewards, progress and positive results influence behaviour, confidence and retention across gaming and digital entertainment platforms.
African Wealth Briefing — Wed., June 10, 2026
Jim Ovia trades the bank chairmanship for Lagos luxury towers. Tony Elumelu plants a Nigerian flag in Ethiopia.
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.
Trump-linked GreenMet CEO Drew Horn targets Nigeria and Cameroon for critical minerals deals
GreenMet CEO Drew Horn, a former Trump national security official with ties to the former president's inner circle, is targeting Nigeria and Cameroon for critical minerals deals.
Morningstar warns SpaceX $1.75 trillion valuation prices in $1.3 trillion of unproven AI bets
SpaceX prices its IPO on June 11 at $1.75 trillion, but Morningstar warns that $1.3 trillion of that valuation rests entirely on orbital AI data centers with no commercial revenue.
South African billionaire Magda Wierzycka despises AI but is launching a fund to invest in it anyway
Sygnia CEO Magda Wierzycka says she would press delete on AI if she could, but is launching an AI venture capital fund to ensure South Africa captures the technology's upside.
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.
