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Billionaire Michiel le Roux's Capitec targets South Africa's R50 billion stokvel market
Capitec has launched a stokvel account aimed at the 11 million South Africans who save about R50 billion a year through 800,000 community savings groups.
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World's richest man Elon Musk's SpaceX seeks $40 billion to buy Nvidia chips
Elon Musk’s SpaceX is seeking $10 billion in bank loans and $30 billion in investment-grade debt, led by Apollo, to fund a Nvidia chip order.
Billionaire Michiel le Roux's Capitec targets South Africa's R50 billion stokvel market
Capitec has launched a stokvel account aimed at the 11 million South Africans who save about R50 billion a year through 800,000 community savings groups.
Fintech founder Mounir Nakhla's MNT-Halan opens Egypt's biggest IPO in years
MNT-Halan's Egyptian arm opened its 7.84 billion pound IPO at EGP 24.5 a share, Egypt's largest offering since 2021, with trading expected on Oct. 20.
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The Inside Story: The Long Way Back — How Sudhir Ruparelia Was Expelled From Uganda at 16, Came Home With $25,000 and Built Its Largest Indigenous Bank
Expelled from Uganda at 16, Sudhir Ruparelia came home in 1985 with $25,000, opened the country's first licensed forex bureau and built its largest indigenous bank. Then the central bank took it over. As his London trial opens today, the story of the man and the bank.
Deep-Dive Report: The New Lenders of West Africa — As Société Générale Leaves Ghana, Morocco's Royal-Backed Attijariwafa Moves In
Société Générale is leaving Ghana and Attijariwafa is arriving. One by one, French banks are selling their African subsidiaries to African buyers, and the most ambitious buyer is Moroccan and royal-backed. What the shift means for who finances West Africa.
Investor Memo: The State as Shareholder — Why Aliko Dangote Is Offering East African Governments 30% of His Lamu Refinery
Aliko Dangote is offering East African governments 30% of his Lamu refinery, with Kenya weighing about $500 million for 10%. Why Africa's richest man wants states as co-owners of a $16 billion asset, what that protects, what it costs, and what building in Lagos taught him.
Fintech founder Mounir Nakhla's MNT-Halan opens Egypt's biggest IPO in years
MNT-Halan's Egyptian arm opened its 7.84 billion pound IPO at EGP 24.5 a share, Egypt's largest offering since 2021, with trading expected on Oct. 20.
Egyptian cable giant Elsewedy's investment arm exits university venture
Al Ahly Capital is buying El Sewedy Capital's 40% stake in a New Damietta university venture with CIRA due to open in 2027.
Moroccan billionaire Aziz Akhannouch’s Afriquia Gaz posts MAD370 million profit in first half of 2026
Moroccan billionaire Aziz Akhannouch’s Afriquia Gaz reported MAD370.2 million in consolidated net profit for the first half of 2026, up 0.5% year on year.
Egyptian businessman Ahmed Heikal's Qalaa Holdings to raise $74 million to clear bank debts and double refinery stake
Egyptian tycoon Ahmed Heikal’s Qalaa Holdings will seek approval for a EGP3.87 billion capital raise to expand energy investments and strengthen its finances.
Late Moroccan billionaire Miloud Chaabi's heirs remain divided 10 years on
Ten years after Miloud Chaabi died, his heirs are still at odds over Ynna Holding, while the conglomerate's subsidiaries are run by independent managers.
Moroccan tycoon Moncef Belkhayat builds $10.7 million logistics hub in Agadir
Moncef Belkhayat's La Voie Express Group will spend 100 million dirhams on a logistics hub near Agadir, its second site in the region.
Moroccan King Mohammed VI's bank to take control of Société Générale Ghana
Attijariwafa Bank, in which King Mohammed VI's family holds the largest stake through Al Mada, will buy 55.22% of Société Générale Ghana.
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.
Aliko Dangote's $51.7 billion Forbes fortune now exceeds that of South Africa's eight billionaires combined
Forbes values Aliko Dangote at $51.7 billion, more than the combined wealth of South Africa's eight billionaires, while Bloomberg's index puts his fortune at $35.7 billion.
Ghanaian fuel tycoon William Tewiah's ZEN stake gains $54 million in months
William Tewiah's ZEN Petroleum stake has gained $54 million since May to $392 million, but thin trading means the gain exists largely on paper.
Ghanaian stock market investor Daniel Ofori's bank stakes hit $82 million
Daniel Ofori's stakes in three Ghanaian banks are worth $81.8 million, led by a 6.56% holding in GCB Bank, whose shares have doubled this year.
Africa's richest man Aliko Dangote's Kenya refinery deal faces urgent court case
Kenya's High Court has certified as urgent a petition seeking disclosure of the money, land and guarantees behind the state's stake in Dangote's Lamu refinery.
Late Nigerian banker Herbert Wigwe's Access Holdings has lagged rivals since his death
Access Holdings shares have risen 23% since Herbert Wigwe's death, while First HoldCo, Zenith, GTCO and UBA gained between 77% and 489%.
How Ghanaian media mogul Osei Kwame Despite built his empire from cassettes
Osei Kwame Despite sold cassettes in Dunkwa before building Peace FM, UTV, salt and food businesses and Ghana's first major car museum.
Congolese billionaire Moïse Katumbi faces court battle over property dispute
Congolese billionaire Moïse Katumbi's half-brother is claiming three residences and two farms, with the Court of Cassation due to examine the dispute on Oct. 26.
Ghanaian alcohol tycoon Kwabena Adjei is building a 27-storey luxury tower in Accra
Kwabena Adjei's Capemay Properties is building Selton Skye, a twin-tower Accra development where three-bedroom apartments start at $565,000, according to its sales brochure.
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
Billionaire Michiel le Roux's Capitec targets South Africa's R50 billion stokvel market
Capitec has launched a stokvel account aimed at the 11 million South Africans who save about R50 billion a year through 800,000 community savings groups.
Zimbabwean tycoon Kudakwashe Tagwirei pledges $1 million for Mnangagwa's 2030 push
Kudakwashe Tagwirei pledged $1 million and 10 vehicles per province at a ZANU-PF event rallying war veterans' children behind Mnangagwa's Vision 2030, ZimEye reported.
South African tycoons Mark and Brett Levy's Blu Label stays silent on Ticketpro buyers
Blu Label sold Ticketpro's sport and events business for R5 million, but neither it nor the buyers will disclose who now owns the ticketing company.
South African tycoon Neal Froneman faces exit from business forum over sanctions call
South Africa's Presidency called Neal Froneman unpatriotic and expects him to leave a business-government partnership after he urged US sanctions on officials.
South African-born billionaire Patrick Soon-Shiong leads $75 million funding round for drug-making robotics startup
South African born billionaire Patrick Soon Shiong has led a $75 million Series B funding round for biotech startup Multiply Labs through NantWorks.
South African tycoon Richard Maponya's heirs take his empire into airport retail
Richard Maponya built a R1 billion empire under apartheid. Six years after his death, his children have fought over the estate and kept expanding it.
South African billionaire Johann Rupert's Reinet buys back $15.6 million in shares
South African billionaire Johann Rupert's Reinet has spent about $100 million buying back 3.8 million shares since August, at prices roughly 36% below asset value.
South African billionaire Koos Bekker loses $800 million as Naspers, Prosus fall
Koos Bekker's fortune has dropped $800 million to $3.2 billion since January, as shares of Naspers and Prosus fell more than 35%.
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.
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World's richest man Elon Musk's SpaceX seeks $40 billion to buy Nvidia chips
Elon Musk’s SpaceX is seeking $10 billion in bank loans and $30 billion in investment-grade debt, led by Apollo, to fund a Nvidia chip order.
Billionaire Michiel le Roux's Capitec targets South Africa's R50 billion stokvel market
Capitec has launched a stokvel account aimed at the 11 million South Africans who save about R50 billion a year through 800,000 community savings groups.
Fintech founder Mounir Nakhla's MNT-Halan opens Egypt's biggest IPO in years
MNT-Halan's Egyptian arm opened its 7.84 billion pound IPO at EGP 24.5 a share, Egypt's largest offering since 2021, with trading expected on Oct. 20.
Egyptian cable giant Elsewedy's investment arm exits university venture
Al Ahly Capital is buying El Sewedy Capital's 40% stake in a New Damietta university venture with CIRA due to open in 2027.
Billionaire Michael Jordan Donates $10 Million to UNC School of Social Work in Honor of His Mother
Billionaire Michael Jordan has made a $10 million commitment to the University of North Carolina’s School of Social Work in honor of his mother, Deloris P. Jorda
Indian billionaire Sunil Mittal's Airtel Money eyes acquisitions after London IPO
Airtel Money could tap London's markets to buy African fintechs after its £5.3 billion listing on Oct. 14, chief executive Ian Ferrao said.
Zimbabwean tycoon Kudakwashe Tagwirei pledges $1 million for Mnangagwa's 2030 push
Kudakwashe Tagwirei pledged $1 million and 10 vehicles per province at a ZANU-PF event rallying war veterans' children behind Mnangagwa's Vision 2030, ZimEye reported.
South African tycoons Mark and Brett Levy's Blu Label stays silent on Ticketpro buyers
Blu Label sold Ticketpro's sport and events business for R5 million, but neither it nor the buyers will disclose who now owns the ticketing company.
South African billionaire Jannie Mouton's R7.2 billion Curro gift tops a year of giving
Wealthy South Africans gave about R6 billion in 2025, led increasingly by women, Black donors and under-40s, a figure excluding Jannie Mouton's Curro buyout.
South African tycoon Neal Froneman faces exit from business forum over sanctions call
South Africa's Presidency called Neal Froneman unpatriotic and expects him to leave a business-government partnership after he urged US sanctions on officials.
UAE royal Sheikh Tahnoon-linked IRH bids for Mozambique titanium miner Kenmare
Abu Dhabi's International Resources Holdings has made a non-binding cash proposal for Kenmare Resources, which runs Mozambique's Moma titanium mine.
South African-born billionaire Patrick Soon-Shiong leads $75 million funding round for drug-making robotics startup
South African born billionaire Patrick Soon Shiong has led a $75 million Series B funding round for biotech startup Multiply Labs through NantWorks.
Billionaire Michael Dell closes in on Larry Page after Dell shares add $8.7 billion in a day
Michael Dell's fortune rose $8.7 billion to $280.6 billion on Tuesday as Dell Technologies shares gained 3.9%, leaving him $4.3 billion behind Larry Page.
Thaksin Shinawatra testifies in tax court to block asset seizures over 17.6 billion baht Shin Corp bill
Former Thai prime minister Thaksin Shinawatra testified at the Central Tax Court to stop further seizures of his assets over a 17.6 billion baht tax bill on the 2006 Shin Corp sale, with a ruling due on November 26.
Billionaire David Ellison now owns HBO, CNN, Paramount and CBS after $111 billion deal closes
Billionaire David Ellison has completed Paramount's $81 billion takeover of Warner Bros. Discovery, nearly $111 billion with debt, creating a media group called Skydance that owns HBO, CNN, CBS and Paramount+.
Kenya clears billionaire Aliko Dangote's refinery IPO for Nairobi investors through depositary receipts
Kenya's Capital Markets Authority has approved a depositary receipt route for Kenyan investors to buy into billionaire Aliko Dangote's $1.6 billion refinery IPO, the first such deal under its GDR rules.
