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King Mohammed VI gives Crown Prince Moulay Hassan his first real military job in a move that mirrors the king's own path to the throne 40 years ago
King Mohammed VI has appointed Crown Prince Moulay El Hassan as coordinator of Morocco's military general staff, giving the 22-year-old his first substantive role in the Royal Armed Forces.
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Billionaire Othman Benjelloun's shipping company AML plans a Morocco-to-Canary Islands ferry route as it grows its fleet to 7 ships and adds France and Algeria crossings
Africa Morocco Link, co-owned by Othman Benjelloun's O Capital Group, plans a Morocco to Canary Islands route within 3 years as it expands its 2-ship fleet to 7 vessels.
King Mohammed VI gives Crown Prince Moulay Hassan his first real military job in a move that mirrors the king's own path to the throne 40 years ago
King Mohammed VI has appointed Crown Prince Moulay El Hassan as coordinator of Morocco's military general staff, giving the 22-year-old his first substantive role in the Royal Armed Forces.
Billionaire Rostam Aziz calls on Kenya and Tanzania to build a single commercial system to compete for global capital
Tanzanian billionaire Rostam Aziz urged Kenya and Tanzania to move beyond trade to a single commercial system to draw the capital both economies need.
Exclusive Content For Paid Supporters
Investor Memo: The Dangote Refinery IPO and the Questions Elite Subscribers Should Ask Before May Subscription Opens
The Dangote Refinery IPO is on track to open subscription in May, with a Nigerian Exchange listing targeted between June and July. Today's Investor Memo lays out the structural questions Elite subscribers should be asking before the prospectus drops.
Executive Insight: The UAE Leaves OPEC — What It Means for Africa’s Oil Producers and the Continent’s Energy Architecture
The UAE has formally exited OPEC effective May 1, removing the cartel's third-largest producer with 4.8 million bpd capacity from the framework that has structured global oil markets for nearly six decades. The implications for Africa's six remaining OPEC members are not favorable.
The Inside Story: Sandile Zungu and a Former Glencore Trader Take Over Sumitomo’s Failed Madagascar Nickel Mine
Sumitomo is paying $418 million to walk away from the Ambatovy nickel mine after $2.6 billion in cumulative losses, with a Jersey-based consortium led by former Glencore nickel head Jason Kluk and South African investor Sandile Zungu taking over.
Billionaire Othman Benjelloun's shipping company AML plans a Morocco-to-Canary Islands ferry route as it grows its fleet to 7 ships and adds France and Algeria crossings
Africa Morocco Link, co-owned by Othman Benjelloun's O Capital Group, plans a Morocco to Canary Islands route within 3 years as it expands its 2-ship fleet to 7 vessels.
King Mohammed VI gives Crown Prince Moulay Hassan his first real military job in a move that mirrors the king's own path to the throne 40 years ago
King Mohammed VI has appointed Crown Prince Moulay El Hassan as coordinator of Morocco's military general staff, giving the 22-year-old his first substantive role in the Royal Armed Forces.
Egyptian tycoon Hassan Allam meets Syria's President al-Sharaa in Damascus to discuss infrastructure and real estate investment
Egyptian construction billionaire Hassan Allam met Syrian President al-Sharaa in Damascus to explore real estate and infrastructure investment in post-war Syria.
Billionaire property developer Hisham Talaat Moustafa warns Egypt's new real estate fees could push project costs up by 15 percent
New Egyptian real estate fees could push project costs up by 15 percent, developers including Talaat Moustafa warn, adding to already elevated costs.
Egyptian billionaire Sawiris family-linked HOF Capital buys Porsche's Bugatti stake in a deal valuing the brand above $1 billion
HOF Capital, co-founded by Onsi Sawiris of Egypt's billionaire Sawiris dynasty, has led a consortium to buy Porsche's full 45% stake in Bugatti Rimac.
Moroccan tycoon Yariv Elbaz's Forafric is selling its flour business to billionaire Chakib Alj while announcing it wants to pivot to drones and AI
Nasdaq-listed Forafric is selling control of its Moroccan flour business to billionaire Chakib Alj while announcing a drone and AI pivot, one year after a formal going concern warning.
Algeria's richest man Issad Rebrab's Cevital is being sued in France over Brandt's liquidation
About 60 former Brandt employees plan to sue Cevital in 2 French courts in May, calling their dismissals abusive and seeking civil damages from Algeria's biggest private company.
How Algerian billionaire Issad Rebrab's $400 million steelworks gamble in Italy collapsed and took his Brazil iron ore dream down with it
Issad Rebrab bought a struggling Italian steelworks in 2015 and planned a $400 million revival. Three years later, he sold it and his Brazil iron ore plan collapsed with it.
Nigerian tycoon Tunde Ayeni remanded at Kuje Prison as EFCC files 17-count $11.3 million fraud charge
Former Skye Bank chairman Tunde Ayeni was remanded at Kuje Prison on Monday after the EFCC arraigned him on a 17-count N15.6 billion fraud charge.
Billionaire Femi Otedola says he did not invest a single kobo in Dangote's refinery and calls the viral claim that he contributed $300 million "calculated mischief"
Femi Otedola has flatly denied investing in the Dangote Petroleum Refinery, calling a viral claim that he contributed $300 million "completely and utterly false" and "calculated mischief."
Idrissa Nassa's Coris Bank Posts 22% First-Quarter Profit Jump in West Africa Banking Expansion
Coris Bank, founded by Idrissa Nassa, posted a 22% rise in first-quarter profit in 2026, continuing its strong run across West Africa.
Ernest Obiejesi's Nestoil $2.1 billion debt blocks dividends at 3 banks
Ernest Obiejesi's Nestoil owes Nigerian banks approximately N2.9 trillion ($2 billion) and the CBN has blocked dividends at UBA, Access Holdings and FCMB until the loans are fully provisioned.
Dangote Petroleum Refinery recalls 800 engineers after union dispute, issues conditional pardon
Dangote Petroleum Refinery has recalled around 800 engineers previously redeployed following a labour union dispute, granting a conditional pardon.
Dangote Group calls reports of rift with Tony Elumelu false and malicious
The Dangote Group has dismissed reports alleging a rift between Aliko Dangote and Tony Elumelu, threatening legal action against anyone spreading the claims.
Nigerian billionaire Dahiru Mangal's son wins APC ticket in Katsina, unseating a two-term sitting rep
Abba Mangal, son of billionaire Dahiru Mangal, has emerged as the APC candidate for Katsina Central, ending a two-term incumbent's return bid.
Stanbic IBTC founder Atedo Peterside says Nigeria could face a crisis if the ADC Is blocked from 2027 elections
Atedo Peterside warned that Nigeria risks a serious legitimacy crisis if the ADC is prevented from contesting the 2027 presidential election.
Billionaire Rostam Aziz calls on Kenya and Tanzania to build a single commercial system to compete for global capital
Tanzanian billionaire Rostam Aziz urged Kenya and Tanzania to move beyond trade to a single commercial system to draw the capital both economies need.
Billionaire Mohammed Al-Amoudi's MIDROC signs deal to build 10 Marriott hotels across Ethiopia
Mohammed Al-Amoudi's MIDROC Investment Group has signed a deal to develop 10 Marriott-branded hotels across Ethiopia with 1,140 keys opening by 2031.
Equity Life Assurance Kenya hits record Ksh1.24 billion profit in 2025
Equity Life Assurance Kenya posted a record Ksh1.24 billion profit after tax in 2025, driven by a 40% surge in gross written premiums and 19.2 million cumulative policies.
Uganda's motorsport community gather to honor Rajiv Ruparelia, son of billionaire Sudhir Ruparelia, one year after his death
Uganda's motorsport community gathered on May 3 to honor Rajiv Ruparelia, son of billionaire Sudhir Ruparelia, one year after his death.
Kenyan businesswoman Mary Wambui sues Google to scrub news articles about her $16.9 million tax fraud case from search results after the charges were dropped in 2023
Kenyan businesswoman Mary Wambui has sued Google in the High Court to remove search results about her Sh2.2 billion ($16.9 million) tax evasion case, which was dropped in January 2023.
Patrick Bitature's "hotels are just a laundry business" comment backfires as Ugandans remind him of his unresolved $10 million debt dispute
Patrick Bitature called hotels a "laundry business" in a viral video and was immediately met with scepticism from Ugandans who pointed to his unresolved $10 million debt dispute over hotel assets.
Nigerian businesswoman Kofo Akinkugbe's SecureID opens East Africa's first smart card factory, commits $20 million to expansion
SecureID Kenya founder Kofo Akinkugbe has opened East Africa's first smart card factory in Nairobi, pledging $20 million and 400 jobs as operations scale.
Tanzanian billionaire Edha Nahdi commits $35 million to build 10 mother-and-child hospitals across Kenya in the largest private-sector health grant in the country's history
Tanzanian billionaire Edha Nahdi has pledged $35 million to build 10 Level 4 mother-and-child hospitals across Kenya in the largest private health grant in the country's history.
Zimbabwean billionaire Strive Masiyiwa's Cassava plans 20MW Joburg AI factory as Cape Town goes live
Strive Masiyiwa's Cassava Technologies is planning a 20MW AI factory in Johannesburg with 12,000 to 13,000 GPUs targeted across Africa as its Cape Town facility prepares to go live.
James Makamba's Telecel Zimbabwe stake is every buyer's biggest headache
Buying Telecel Zimbabwe means inheriting a tangle of ownership claims, including James Makamba's Kestrel Corporation stake and other unresolved competing interests.
Jason Quinn's Nedbank opens its $855 million bid for Kenya's NCBA and shareholders have six weeks to decide
Nedbank CEO Jason Quinn has opened a $855 million tender offer for a 66% controlling stake in Kenya's NCBA Group, one of the largest cross-border banking transactions in African history, with shareholders given until July 10 to respond.
Johann Rupert saved his father's car collection from oblivion and turned it into one of the Southern Hemisphere's finest museums
Johann Rupert rescued his father's historic car collection from closure in 2003 and turned it into the Franschhoek Motor Museum, now one of the finest collections in the Southern Hemisphere.
Evidence emerges that Zanu PF held a secret 45 percent stake in tycoon Kudakwashe Tagwirei's Sakunda Holdings
Leaked financial records partially support claims that Zanu PF held a hidden 45 percent stake in Kudakwashe Tagwirei's Sakunda Holdings.
Angolan tycoon Álvaro Sobrinho suspected of bribing Lisbon Appeal Court judge to free impounded property empire
Angolan-Portuguese businessman Álvaro Sobrinho is suspected of paying a Lisbon appeal court judge to release his impounded 80 million euro property empire.
South Africa's Mining BEE has created 46 billionaires whose identities the public does not know — Report
South Africa's mining BEE program has created at least 46 billionaires, but their names and accumulated wealth remain hidden from public view.
Residents of Jamestown, the old community hemmed in by Stellenbosch's billionaire estates, march against a mayor who didn't show up to collect their petition
Residents of Jamestown, a historic community inside South Africa's wealthiest municipality, marched on May 1 against gentrification and municipal neglect as the mayor failed to show up for their petition.
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 Othman Benjelloun's shipping company AML plans a Morocco-to-Canary Islands ferry route as it grows its fleet to 7 ships and adds France and Algeria crossings
Africa Morocco Link, co-owned by Othman Benjelloun's O Capital Group, plans a Morocco to Canary Islands route within 3 years as it expands its 2-ship fleet to 7 vessels.
King Mohammed VI gives Crown Prince Moulay Hassan his first real military job in a move that mirrors the king's own path to the throne 40 years ago
King Mohammed VI has appointed Crown Prince Moulay El Hassan as coordinator of Morocco's military general staff, giving the 22-year-old his first substantive role in the Royal Armed Forces.
African Wealth Briefing — Tues., May 5, 2026
The Sentry's leaked-records investigation into Tagwirei's Sakunda partially supports Chiwenga's claim that Zanu PF held a hidden 45 percent stake, James Mwangi's Equity Bank sweeps Kenya's banking awards, and Talaat Moustafa warns Egypt's new property fees could push costs up 15 percent.
Billionaire Rostam Aziz calls on Kenya and Tanzania to build a single commercial system to compete for global capital
Tanzanian billionaire Rostam Aziz urged Kenya and Tanzania to move beyond trade to a single commercial system to draw the capital both economies need.
Billionaire Robert F. Smith says Agentic AI Is creating a massive profitability unlock inside his $100 billion portfolio
Vista Equity CEO Robert F. Smith told CNBC that 30 of his portfolio companies are already generating revenue from agentic AI, with more converting soon.
Egyptian tycoon Hassan Allam meets Syria's President al-Sharaa in Damascus to discuss infrastructure and real estate investment
Egyptian construction billionaire Hassan Allam met Syrian President al-Sharaa in Damascus to explore real estate and infrastructure investment in post-war Syria.
Billionaire Mohammed Al-Amoudi's MIDROC signs deal to build 10 Marriott hotels across Ethiopia
Mohammed Al-Amoudi's MIDROC Investment Group has signed a deal to develop 10 Marriott-branded hotels across Ethiopia with 1,140 keys opening by 2031.
Nigerian tycoon Tunde Ayeni remanded at Kuje Prison as EFCC files 17-count $11.3 million fraud charge
Former Skye Bank chairman Tunde Ayeni was remanded at Kuje Prison on Monday after the EFCC arraigned him on a 17-count N15.6 billion fraud charge.
Zimbabwean billionaire Strive Masiyiwa's Cassava plans 20MW Joburg AI factory as Cape Town goes live
Strive Masiyiwa's Cassava Technologies is planning a 20MW AI factory in Johannesburg with 12,000 to 13,000 GPUs targeted across Africa as its Cape Town facility prepares to go live.
Billionaire Femi Otedola says he did not invest a single kobo in Dangote's refinery and calls the viral claim that he contributed $300 million "calculated mischief"
Femi Otedola has flatly denied investing in the Dangote Petroleum Refinery, calling a viral claim that he contributed $300 million "completely and utterly false" and "calculated mischief."
James Makamba's Telecel Zimbabwe stake is every buyer's biggest headache
Buying Telecel Zimbabwe means inheriting a tangle of ownership claims, including James Makamba's Kestrel Corporation stake and other unresolved competing interests.
Idrissa Nassa's Coris Bank Posts 22% First-Quarter Profit Jump in West Africa Banking Expansion
Coris Bank, founded by Idrissa Nassa, posted a 22% rise in first-quarter profit in 2026, continuing its strong run across West Africa.
Investor Memo: The Dangote Refinery IPO and the Questions Elite Subscribers Should Ask Before May Subscription Opens
The Dangote Refinery IPO is on track to open subscription in May, with a Nigerian Exchange listing targeted between June and July. Today's Investor Memo lays out the structural questions Elite subscribers should be asking before the prospectus drops.
Executive Insight: The UAE Leaves OPEC — What It Means for Africa’s Oil Producers and the Continent’s Energy Architecture
The UAE has formally exited OPEC effective May 1, removing the cartel's third-largest producer with 4.8 million bpd capacity from the framework that has structured global oil markets for nearly six decades. The implications for Africa's six remaining OPEC members are not favorable.
The Inside Story: Sandile Zungu and a Former Glencore Trader Take Over Sumitomo’s Failed Madagascar Nickel Mine
Sumitomo is paying $418 million to walk away from the Ambatovy nickel mine after $2.6 billion in cumulative losses, with a Jersey-based consortium led by former Glencore nickel head Jason Kluk and South African investor Sandile Zungu taking over.
Jason Quinn's Nedbank opens its $855 million bid for Kenya's NCBA and shareholders have six weeks to decide
Nedbank CEO Jason Quinn has opened a $855 million tender offer for a 66% controlling stake in Kenya's NCBA Group, one of the largest cross-border banking transactions in African history, with shareholders given until July 10 to respond.
