Featured
How Nigerian businessman Chris Iyovwaye went from nurse to building $20 million oil logistics firm
Chris Iyovwaye went from auxiliary nurse to founder of Wellmann Group, an oil services firm reporting over $20 million in yearly turnover.
Editors' Picks
How Nigerian businessman Chris Iyovwaye went from nurse to building $20 million oil logistics firm
Chris Iyovwaye went from auxiliary nurse to founder of Wellmann Group, an oil services firm reporting over $20 million in yearly turnover.
Syrian businessman Albert Karaziwan's Semlex to stand trial over corrupt Congo passport deal
Albert Karaziwan's Semlex and 13 others will stand trial in Brussels over alleged bribery and money laundering linked to Congo's $185 passports.
How Indian tycoon Peeyush Garg built a $74 million-a-year FMCG empire in Nigeria
Peeyush Garg built Daraju from a Ladipo Street trading business into a maker of MYMY toothpaste with ₦111 billion in annual sales.
Exclusive Content For Paid Supporters
The Inside Story: The Long Game — How Femi Otedola Rotated From Oil to Power to Banking and Took the Chair of Nigeria's Oldest Bank
Femi Otedola sold his oil business near its peak, built a power company worth more than ten times its listing value, then sold that too and put the money into Nigeria's oldest bank. Five years later he is its chairman and largest owner. The strategy behind his $815 million quarter.
Deep-Dive Report: The Nigerian Quarter — Oil, Banks and a Stronger Naira Lined Up at Once, and the Investors Who Kept Buying Made Billions
Otedola up $815 million, Dangote up $2.31 billion, Dossou-Aworet up $430 million, the refinery past full capacity. Oil, bank shares and a stronger naira lined up at once. What drove Nigeria's best quarter for wealth in years, who positioned for it, and what would unwind it.
Investor Memo: The Key Man — Wicknell Chivayo's Death Leaves State Contracts in Three Countries Resting on a Company Built Around One Person
Wicknell Chivayo died three weeks after Gwanda got its notice to proceed. Solar in Zimbabwe and Eswatini, a stake in Kenya's airport: a pipeline worth hundreds of millions, resting on one man. What happens to it, and the lesson for anyone backing a founder-led contractor.
Moroccan billionaire Moulay Hafid Elalamy's Saham Bank posts $95 million profit
Saham Bank, owned by Moroccan billionaire Moulay Hafid Elalamy, lifted first half profit 15.5% to $95 million as lending, fees and revenue all grew.
Egypt's fintech unicorn MNT-Halan to sell 20% stake in Cairo IPO
MNT-Halan, Egypt's first fintech unicorn, will sell 20% of its Egyptian business on the EGX in one of the country's largest IPOs in years.
Billionaire Othman Benjelloun's Bank of Africa lifts first-half profit 10% to $261 million
Othman Benjelloun's Bank of Africa lifted first-half profit 10% to 2.5 billion dirhams as lower bad-loan charges offset a 37% fall in trading income.
Billionaire Aziz Akhannouch to leave office as Morocco names first woman prime minister
Morocco's king named Fatima Ezzahra El Mansouri prime minister, ending the five-year premiership of billionaire fuel tycoon Aziz Akhannouch after his party lost.
Egyptian billionaire Ahmed Elsewedy gains $174 million in Q3 as Elsewedy Electric shares climb
Ahmed Elsewedy's stake in El Sewedy Electric rose $174 million in the third quarter as the Egyptian cable maker's shares climbed 25.6%.
Billionaire Naguib Sawiris expects new gold finds in Egypt to reach at least 1 million ounces
Egyptian billionaire Naguib Sawiris expects his company's new gold exploration areas in Egypt to yield at least 1 million ounces of gold.
Africa's richest monarch watches his mining company multiply profit tenfold in six months
Managem, the mining arm of the Moroccan royal family's Al Mada, lifted first-half profit to 3.778 billion dirhams from 380 million a year earlier.
Algerian billionaire Abderrahmane Benhamadi's Condor breaks into Mali with 37 containers
Condor is shipping 37 containers of electronics and appliances to six markets, entering Mali for the first time as a gateway to the Sahel.
How Nigerian businessman Chris Iyovwaye went from nurse to building $20 million oil logistics firm
Chris Iyovwaye went from auxiliary nurse to founder of Wellmann Group, an oil services firm reporting over $20 million in yearly turnover.
How Indian tycoon Peeyush Garg built a $74 million-a-year FMCG empire in Nigeria
Peeyush Garg built Daraju from a Ladipo Street trading business into a maker of MYMY toothpaste with ₦111 billion in annual sales.
Cameroonian billionaire Baba Danpullo at war with Vietnam's Viettel over Nexttel
Viettel has asked Cameroon's president to block any new Nexttel investor without its consent, reviving its long fight with billionaire Baba Danpullo.
Senegalese chicken billionaire Babacar Ngom to build $35 million poultry complex in Congo
Babacar Ngom's Sedima will invest 20.47 billion CFA francs, about $35 million, in an integrated poultry and grain complex in Congo's Pool department.
Billionaire Jim Ovia warns Nigeria against trading quality for more universities
Zenith Bank founder Jim Ovia says Nigeria's fast-growing number of universities, now about 312, must not come at the expense of quality.
Africa's richest man offers East Africa 30% of his $16 billion Kenya refinery
Kenya is weighing a 10% stake worth about $500 million in Dangote's Lamu refinery, part of a 30% share offered to East African governments.
Burkinabè billionaire Idrissa Nassa's Coris Bank donates $178,000 to children of fallen soldiers
Idrissa Nassa's Coris Bank International has given 100 million CFA francs to Burkina Faso's government to support children of soldiers and volunteers killed in action.
Franco-Lebanese tycoon Hayssam El Jammal Prometal secures $45 million Afreximbank loan
Afreximbank has approved a €40 million revolving facility for Prometal, the Cameroonian steel group built by Franco-Lebanese industrialist Hayssam El Jammal.
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 tycoon Ipeleng Mkhari's Motseng wins share of Gautrain deal
Ipeleng Mkhari's Motseng, through a joint venture with AIIM, is part of the consortium that will run South Africa's Gautrain from 2026 to 2041.
Zimbabwe investigates helicopter crash that killed Wicknell Chivayo
Zimbabwe's aviation authority is investigating the helicopter crash that killed Wicknell Chivayo and his wife, saying fuel spilled on impact before a fire broke out.
Wicknell Chivayo, 1980-2026: The Man Who Showed You Everything
He went to prison at 24, built an energy company, won close to a billion dollars of state contracts, gave away Mercedes-Benzes on camera and stood beside half a dozen presidents and a king. Wicknell Chivayo died on Wednesday in a helicopter crash, aged 45. Zimbabwe cannot agree what it has lost.
Malawian billionaires Thom Mpinganjira and Hitesh Anadkat lose $134 million in Q3 as bank shares fall
Thom Mpinganjira and Hitesh Anadkat lost a combined $134 million in the third quarter as FDH Bank and FMB Capital shares fell.
South African billionaire Piet Mouton loses $130 million on Capitec shares in third quarter
Piet Mouton's Capitec stake lost $130 million in the third quarter as shares of South Africa's biggest retail bank fell 7%.
South African billionaire Jannie Mouton loses $115 million on Capitec shares in third quarter
PSG founder Jannie Mouton's Capitec stake lost $115 million in the third quarter as shares of South Africa's biggest retail bank fell 7%.
Zimbabwean luxury jeweler Alexander Mavros ventures into hospitality
The family behind luxury jeweler Patrick Mavros has opened The Palm Club in Harare and is eyeing more sites in Zimbabwe and Cape Town.
Wicknell Chivayo’s family confirms his death following fatal Zimbabwe helicopter crash
The family of Zimbabwean businessman Wicknell Chivayo has confirmed his death following a helicopter crash in Marondera that killed all six people aboard the aircraft.
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.
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.
Latest Posts
How Nigerian businessman Chris Iyovwaye went from nurse to building $20 million oil logistics firm
Chris Iyovwaye went from auxiliary nurse to founder of Wellmann Group, an oil services firm reporting over $20 million in yearly turnover.
Syrian businessman Albert Karaziwan's Semlex to stand trial over corrupt Congo passport deal
Albert Karaziwan's Semlex and 13 others will stand trial in Brussels over alleged bribery and money laundering linked to Congo's $185 passports.
How Indian tycoon Peeyush Garg built a $74 million-a-year FMCG empire in Nigeria
Peeyush Garg built Daraju from a Ladipo Street trading business into a maker of MYMY toothpaste with ₦111 billion in annual sales.
Ghanaian billionaire Ibrahim Mahama pledges 5,000 bags of cement to Hohoe flood victims
Ghanaian billionaire Ibrahim Mahama has promised 5,000 bags of cement to rebuild flood-hit homes in Hohoe, his brother, President John Mahama, said Friday.
Ugandan billionaire Sudhir Ruparelia seeks $225 million from Rabobank over Crane Bank fallout
Sudhir Ruparelia is seeking at least $225 million from dfcu Bank, a Rabobank unit and others in a London trial over Crane Bank's 2017 sale.
Larry Ellison relists Florida oceanfront estate for $165 million, more than double 2021 purchase price
Oracle billionaire Larry Ellison has relisted his oceanfront estate in North Palm Beach, Florida, for $165 million, more than double the $80 million he paid for the property in 2021. The new asking price comes as Ellison continues to expand his luxury real estate holdings across South Florida.
Moroccan billionaire Moulay Hafid Elalamy's Saham Bank posts $95 million profit
Saham Bank, owned by Moroccan billionaire Moulay Hafid Elalamy, lifted first half profit 15.5% to $95 million as lending, fees and revenue all grew.
South African tycoon Ipeleng Mkhari's Motseng wins share of Gautrain deal
Ipeleng Mkhari's Motseng, through a joint venture with AIIM, is part of the consortium that will run South Africa's Gautrain from 2026 to 2041.
Cameroonian billionaire Baba Danpullo at war with Vietnam's Viettel over Nexttel
Viettel has asked Cameroon's president to block any new Nexttel investor without its consent, reviving its long fight with billionaire Baba Danpullo.
Canadian billionaire Galen Weston's family nears £7 billion deal to buy Boots
The billionaire Weston family's Canadian arm is in advanced talks to buy Boots from Sycamore Partners for about £7 billion, with a deal possible next week.
British billionaire David Sullivan sues BBC for £150 million
Billionaire David Sullivan has filed a £150 million High Court defamation claim against the BBC over a Panorama documentary alleging misconduct he denies.
Indian billionaire Sunil Mittal's Airtel Money prices London IPO at $7 billion
Billionaire Sunil Mittal's Airtel Money priced its London IPO at £1.96 a share, a $7 billion valuation below the $8 billion to $9 billion range reported in August.
Senegalese chicken billionaire Babacar Ngom to build $35 million poultry complex in Congo
Babacar Ngom's Sedima will invest 20.47 billion CFA francs, about $35 million, in an integrated poultry and grain complex in Congo's Pool department.
Billionaire Jim Ovia warns Nigeria against trading quality for more universities
Zenith Bank founder Jim Ovia says Nigeria's fast-growing number of universities, now about 312, must not come at the expense of quality.
Africa's richest man offers East Africa 30% of his $16 billion Kenya refinery
Kenya is weighing a 10% stake worth about $500 million in Dangote's Lamu refinery, part of a 30% share offered to East African governments.
Zimbabwe investigates helicopter crash that killed Wicknell Chivayo
Zimbabwe's aviation authority is investigating the helicopter crash that killed Wicknell Chivayo and his wife, saying fuel spilled on impact before a fire broke out.
