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Indian billionaire Lakshmi Mittal buys a South African cricket team and two others for $1.65 billion
India's competition regulator approved Lakshmi Mittal and Adar Poonawalla's $1.65 billion purchase of Rajasthan, Paarl and Barbados Royals.
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French billionaire Vincent Bolloré promises President Tinubu more investment in Nigeria
Vincent Bolloré told Bola Tinubu his group will deepen its Nigerian operations, in a market where DStv and GOtv have been shedding customers.
Nigerian billionaire Emeka Okwuosa's Oilserv signs gas deal with Gabon's government
Oilserv has agreed with Gabon to develop the DEF-3 and D4-5 blocks, two months after completing its section of Nigeria's AKK gas pipeline.
Indian billionaire Lakshmi Mittal buys a South African cricket team and two others for $1.65 billion
India's competition regulator approved Lakshmi Mittal and Adar Poonawalla's $1.65 billion purchase of Rajasthan, Paarl and Barbados Royals.
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The Inside Story: The Gatekeeper — How Tewodros Ashenafi Made Himself the Door Foreign Capital Walks Through to Enter Ethiopia
Ethiopia is one of the hardest markets in Africa for foreign money to enter — the state held telecoms, banking and energy for decades, land cannot be owned, and getting cash out is a struggle. When Japan Tobacco wanted in, it paid $1.4 billion and needed a local partner.
Deep-Dive Report: Generators to Syringes — How Mofid Karameh Turned Nigeria's Power Failure Into a Make-Everything Empire
Mofid Karameh arrived in Nigeria three decades ago carrying a toolbox and started repairing generators. Today his Mikano assembles pickup trucks, boats, surgical syringes, brake pads, face masks and chocolate wafers.
Wealth Intelligence: The Trader's Loss — How One Counterparty Cost Glencore $480 Million, and What Ivan Glasenberg's 10% Stake Reveals About Hidden Risk
Glencore has just taken a $480 million provision — one of the largest trading losses in its history as a public company — on a single counterparty, and now faces a $2 billion lawsuit from that same former partner.
Egypt's billionaire Elsewedy family opens a Shanghai buying office for its $6 billion group
Elsewedy Electric (Shanghai) began operating on Sept. 15 as the Egyptian group's procurement centre for China, six months after it registered.
Algerian billionaire Issad Rebrab is now barred from running even his smallest companies
Issad Rebrab, 81, has been stripped of the right to manage the small companies he owns outside Cévital, three years after losing the group itself.
Egyptian billionaire Nassef Sawiris opens a €866 million offer to take OCI private
NNS Holding opened its all-cash offer for OCI Global on Sept. 15 at €4.10 a share, valuing the fertiliser group at about €866 million.
Egypt's billionaire Elsewedy family bets $700 million on energy services
Egypt's El Sewedy family has announced about $700 million of investment as Elsewedy Electric pushes from cables into power services.
Moroccan billionaire Moulay Hafid Elalamy now holds 12.5% of Teleperformance
Moulay Hafid Elalamy has closed the €355 million derivative he used to build a stake in Teleperformance, and holds about 12.5% of the CAC 40 group.
Billionaire Naguib Sawiris's son backs $50 million platform to buy Egypt's heritage brands
Onsi Naguib Sawiris has put money behind a new vehicle buying culture-rooted Egyptian brands. Creative Investments Holding has secured $20 million at first close toward a $50 million target, with an Egyptian state SME agency sitting on the same cap table.
Egyptian tycoon Medhat Mohamed Khalil abandons sale of Raya Foods to Helios
Medhat Khalil's Raya Holding cancelled the sale of Raya Foods to Helios after conditions went unmet, eight months after board approval.
Egyptian shipping tycoon Ahmed Tarek Khalil sells his entire Ajwa stake for $6 million
Ahmed Tarek Khalil sold 8.34% of Ajwa for Food Industries Egypt for EGP 301.65 million, about $6 million, exiting the edible oils maker entirely.
French billionaire Vincent Bolloré promises President Tinubu more investment in Nigeria
Vincent Bolloré told Bola Tinubu his group will deepen its Nigerian operations, in a market where DStv and GOtv have been shedding customers.
Nigerian billionaire Emeka Okwuosa's Oilserv signs gas deal with Gabon's government
Oilserv has agreed with Gabon to develop the DEF-3 and D4-5 blocks, two months after completing its section of Nigeria's AKK gas pipeline.
Nigerian oil tycoon Wale Tinubu wins approval to list Oando on any exchange he chooses
Oando shareholders authorised listings on any exchange. Its liabilities exceed its assets by N530 billion and debt costs exceed operating profit.
Nigerian billionaire Femi Otedola gains $138 million on Friday as FirstHoldCo shares hit record high
First HoldCo rose 10% to N162.80 on Friday morning, a record, adding about N182.6 billion to Femi Otedola's stake in a single session.
Nigerian billionaire Rasheed Sarumi's Presco is spending $400 million to grow palm oil in four states
Rasheed Sarumi's Presco has pledged $200 million each to Ondo and Abia, after spending $171.6 million on plantations in Ghana and Nigeria.
Billionaire Femi Otedola's First HoldCo out-earns every major bank in Nigeria and South Africa
First HoldCo posted a 31.63% return on average equity in the first quarter, the highest of any tier-1 bank in Nigeria or South Africa.
Nigerian billionaire heir Osahon Okunbo invests in US cancer AI company
Vetrinox Capital, the Lagos family office of Osahon Okunbo, has invested in Hurone AI, its first commitment to United States healthcare.
Cameroonian billionaire Paul Fokam has not set foot in the country where his bank dominates
Paul Fokam persuaded Paul Biya to waive a law in 1986 so he could found a bank with no state money. It is now Cameroon's largest.
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
Sanlam writes its stake in Anna Mokgokong's AfroCentric down to zero
Sanlam has written its 60% stake in AfroCentric down to nil after Bonitas left, but chief executive Paul Hanratty says it will not sell.
Indian billionaire Lakshmi Mittal buys a South African cricket team and two others for $1.65 billion
India's competition regulator approved Lakshmi Mittal and Adar Poonawalla's $1.65 billion purchase of Rajasthan, Paarl and Barbados Royals.
South African executive Francois Gouws owns $51 million stake in PSG Financial Services
Francois Gouws owns a stake in PSG Financial Services worth R829 million.
South African billionaire Johann Rupert takes no salary at Remgro but collects $32.8 million in dividends
Johann Rupert draws no salary from Remgro. He is collecting $32.8 million in dividends after headline earnings rose 42.3% to $685 million.
Billionaire Patrice Motsepe is taking 78% of Alexander Forbes without paying for most of it
Alexander Forbes is taking on a R2.1 billion loan to buy out Prudential, a transaction that lifts Patrice Motsepe's stake from 49.88% to 77.94%.
South African billionaire Zunaid Moti's free schools for Malawi are not actually free
Malawi says it will get 450 schools and clinics from Zunaid Moti's African Hero at no cost. The foundation's brochure says payment follows delivery.
South African tech mogul Jens Montanana is cashing in on AI without building a data centre
Datatec has set out an AI infrastructure strategy built on edge computing, a month after announcing a R7 billion special dividend to shareholders.
Zimbabwean tycoon Ken Sharpe breaks ground on Chivhu EcoCity
Ken Sharpe's WestProp has broken ground on Chivhu EcoCity, a 5,000-hectare development planned for 20,000 homes and up to 80,000 residents.
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.
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.
Latest Posts
French billionaire Vincent Bolloré promises President Tinubu more investment in Nigeria
Vincent Bolloré told Bola Tinubu his group will deepen its Nigerian operations, in a market where DStv and GOtv have been shedding customers.
Nigerian billionaire Emeka Okwuosa's Oilserv signs gas deal with Gabon's government
Oilserv has agreed with Gabon to develop the DEF-3 and D4-5 blocks, two months after completing its section of Nigeria's AKK gas pipeline.
Sanlam writes its stake in Anna Mokgokong's AfroCentric down to zero
Sanlam has written its 60% stake in AfroCentric down to nil after Bonitas left, but chief executive Paul Hanratty says it will not sell.
Indian billionaire Lakshmi Mittal buys a South African cricket team and two others for $1.65 billion
India's competition regulator approved Lakshmi Mittal and Adar Poonawalla's $1.65 billion purchase of Rajasthan, Paarl and Barbados Royals.
South African executive Francois Gouws owns $51 million stake in PSG Financial Services
Francois Gouws owns a stake in PSG Financial Services worth R829 million.
South African billionaire Johann Rupert takes no salary at Remgro but collects $32.8 million in dividends
Johann Rupert draws no salary from Remgro. He is collecting $32.8 million in dividends after headline earnings rose 42.3% to $685 million.
Canadian billionaire Frank Stronach will not go to jail for indecent assault, Ontario judge says
Justice Anne Molloy said she is firmly settled that Frank Stronach, 94, will not receive a jail term for his indecent assault conviction.
Billionaire LeBron James's wife Savannah buys into a Los Angeles volleyball team
Savannah James has taken a stake in LOVB Los Angeles, a women's volleyball franchise launching in 2027, alongside Issa Rae and Alexis Ohanian.
African Wealth Briefing — Fri., Sept. 18, 2026
Dangote's record refinery IPO is running, its boss defending a $49 billion valuation against US and Turkish refiners worth a quarter as much, as Nigeria's trade minister claims it could add $60 billion to the market.
The Inside Story: The Gatekeeper — How Tewodros Ashenafi Made Himself the Door Foreign Capital Walks Through to Enter Ethiopia
Ethiopia is one of the hardest markets in Africa for foreign money to enter — the state held telecoms, banking and energy for decades, land cannot be owned, and getting cash out is a struggle. When Japan Tobacco wanted in, it paid $1.4 billion and needed a local partner.
Deep-Dive Report: Generators to Syringes — How Mofid Karameh Turned Nigeria's Power Failure Into a Make-Everything Empire
Mofid Karameh arrived in Nigeria three decades ago carrying a toolbox and started repairing generators. Today his Mikano assembles pickup trucks, boats, surgical syringes, brake pads, face masks and chocolate wafers.
Wealth Intelligence: The Trader's Loss — How One Counterparty Cost Glencore $480 Million, and What Ivan Glasenberg's 10% Stake Reveals About Hidden Risk
Glencore has just taken a $480 million provision — one of the largest trading losses in its history as a public company — on a single counterparty, and now faces a $2 billion lawsuit from that same former partner.
Nigerian oil tycoon Wale Tinubu wins approval to list Oando on any exchange he chooses
Oando shareholders authorised listings on any exchange. Its liabilities exceed its assets by N530 billion and debt costs exceed operating profit.
Warren Buffett steps down as Berkshire Hathaway chair, hands over to son
Warren Buffett, 96, is stepping down as Berkshire Hathaway chairman. His son Howard takes the role, becoming guardian of the culture, not the money.
Billionaire Patrice Motsepe is taking 78% of Alexander Forbes without paying for most of it
Alexander Forbes is taking on a R2.1 billion loan to buy out Prudential, a transaction that lifts Patrice Motsepe's stake from 49.88% to 77.94%.
Nigerian billionaire Femi Otedola gains $138 million on Friday as FirstHoldCo shares hit record high
First HoldCo rose 10% to N162.80 on Friday morning, a record, adding about N182.6 billion to Femi Otedola's stake in a single session.
