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Aliko Dangote could add $20 billion to his fortune in a single day in October
Bloomberg carries Dangote's refinery at construction cost. Pricing it at what investors paid in July adds $18.5 billion to his fortune overnight.
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South Africa's wealthy Wapnick family holds $108 million stake in Octodec as a rival circles
The Wapnick family holds $108 million in Octodec. Emira spent R892 million buying 23.5%, and Octodec's board says the offer undervalued the company.
Aliko Dangote could add $20 billion to his fortune in a single day in October
Bloomberg carries Dangote's refinery at construction cost. Pricing it at what investors paid in July adds $18.5 billion to his fortune overnight.
South African tycoon Sandile Zungu cleared to challenge Danny Jordaan for SAFA presidency
SAFA's governance committee cleared Sandile Zungu to run against Danny Jordaan on Sept. 12, settling a dispute that had run since May.
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The Inside Story: The Missing Ingredient — How Stella Okoli Went From a ₦5,000 Chemist's Shop to Chasing Sub-Saharan Africa's First Drug-Ingredient Plant
In 1977, Stella Okoli opened a small chemist's shop in Lagos with 5,000 naira and her father's house as collateral. She built it into one of Nigeria's largest drugmakers.
Deep-Dive Report: The Clinker Race — How Narendra Raval and Two Rival Billionaires Are Betting $600 Million on Making East Africa's Cement Locally
For two decades East Africa imported the clinker that makes cement. Now three billionaires, led by former temple assistant Narendra Raval, are pouring $600 million into making it locally as the multinationals retreat and tariffs bite. Inside the bet on self-sufficiency.
Investor Memo: The Pre-Emption — How Angola's Etu Energias Used a Right of First Refusal to Take Chevron's Oil Blocks From a London Bidder
Chevron agreed to sell two Angolan oil blocks to London-listed Energean for $260 million. Then Etu Energias, already a partner, used a right of first refusal to take the deal itself. A masterclass in how insiders win — and a signpost to who owns Africa's oil next.
Billionaire Naguib Sawiris wants to run some of Egypt's airports
Orascom Investment is forming a consortium with a global airport operator to bid for some of the 11 Egyptian airports going to private hands.
Egyptian billionaire Samih Sawiris is spending €200 million on a resort Morocco never finished
Samih Sawiris wants to recreate El Gouna on Morocco's Atlantic coast, starting with 800 rooms in a €200 million first phase at Mogador-Essaouira.
Egyptian healthcare tycoon Hend El Sherbini borrows $60 million to take her company private
Riyada Managers lent Hena Holdings $60 million to fund the buyout of Integrated Diagnostics, the lab group Hend El Sherbini's mother founded.
Swvl raises $13m from Naguib Sawiris-backed Coefficient for US push
Four years after a $1.5bn SPAC listing that unravelled, Egypt's Swvl has raised $13 million led by Coefficient LP, the Houston firm backed by the Sawiris family — funding a US push and a new lending product for transport operators.
Moroccan canned fish billionaire Saïd Alj holds a $114 million stake in insurer Sanlam Maroc
Said Alj, the Moroccan behind Titus sardines, owns 7.206% of Sanlam Maroc, a stake worth $114 million after the Allianz Maroc merger.
Morocco has a new billionaire, Mohammed Bouzoubaa, with a $1.6 billion stake in TGCC
Morocco has another new billionaire in TGCC founder Mohammed Bouzoubaa, whose 19.3 million shares in the construction group are worth $1.62 billion.
Morocco has a new billionaire, construction tycoon M'hammed Kabbaj, worth $1.7 billion
Morocco has a new billionaire in SGTM chairman M'hammed Kabbaj, whose 22.2 million shares in the construction group are worth $1.72 billion.
King Mohammed VI's family owns $17.5 billion in listed Moroccan firms, two-thirds of it mining
Morocco's royal family controls 60% of Al Mada, giving it roughly $17.5 billion in publicly traded Moroccan companies, with $11.3 billion in mining.
Aliko Dangote could add $20 billion to his fortune in a single day in October
Bloomberg carries Dangote's refinery at construction cost. Pricing it at what investors paid in July adds $18.5 billion to his fortune overnight.
Nigerian billionaire Femi Otedola's 'Making It Big' turns one, 8 lessons from the bestseller
Making It Big turned one on Aug. 18. It won Axiom gold in the US, placed second in London, and Otedola is writing the sequel.
Nigerian billionaire Phillip Ihenacho is selling most of Azura Power to an Abu Dhabi buyer
ePointZero is buying 90% of Azura Power, the 752MW producer Phillip Ihenacho's Amaya Capital founded in 2010. Amaya keeps a 10% minority stake.
Nigerian Pharma tycoon Stella Okoli raises $19.8 million to complete new production facility
Stella Okoli's Emzor has raised N26.7bn ($19.8m) at a 19% coupon to finish West Africa's first antimalarial API plant a Sagamu facility that was due to open in late 2025, then early 2026, and is still incomplete.
Nigerian tycoon Tope Shonubi's Sahara supplies six months of fuel to Madagascar's power stations
Sahara Group supplied the 67 million litre cargo that opened Madagascar's state fuel imports, after the government seized a rival's storage tanks.
Nigerian billionaire Aliko Dangote cuts off petrol supply to marketers who import
Aliko Dangote's refinery has stopped selling petrol to marketers who also import, citing blending and quality. It lands while he is in court trying to cancel the import licences of six marketers and NNPC which says imports prevent monopoly pricing.
Nigerian tycoon Ernest Azudialu is pumping more oil while owing lenders over $1 billion
Ernest Azudialu's Nestoil ran its own rig on OML 42 to lift output, twelve days after paying $60 million under an EFCC-brokered repayment plan.
Dutch-Nigerian billionaire Cornelis Vink owns the tower Burna Boy craned a Ferrari into
Cornelis Vink sold Chivita to Coca-Cola for $1 billion and bought Union Bank. His Kaizen Properties is building Burna Boy's Bourdillon tower.
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 Africa's wealthy Wapnick family holds $108 million stake in Octodec as a rival circles
The Wapnick family holds $108 million in Octodec. Emira spent R892 million buying 23.5%, and Octodec's board says the offer undervalued the company.
South African tycoon Sandile Zungu cleared to challenge Danny Jordaan for SAFA presidency
SAFA's governance committee cleared Sandile Zungu to run against Danny Jordaan on Sept. 12, settling a dispute that had run since May.
South Africa's Bidvest has stopped buying companies and started generating cash instead
Brian Joffe's Bidvest has closed three acquisitions totaling $102 million (R1.67 billion) in its 2026 financial year, headlined by the $92 million purchase of environmental testing specialist Aquatico Group, as the South African services giant posted $8 billion in revenue.
Angolan billionaire Alberto Almeida de Sousa's Etu Energias to acquire Chevron's blocks for $260 million
Etu Energias, half owned by Alberto Almeida de Sousa, is buying Chevron's stakes in Blocks 14 and 14K for $260 million, displacing Energean.
10 businesses in Zimbabwean billionaire Simon Rudland's empire, from cigarettes to trucks
Simon Rudland's empire spans cigarettes, a $102 million tobacco plant, trucking, fuel stations, citrus juice and mining across two countries.
South African billionaire Robert Gumede tells the Zulu king he will turn sugarcane into fuel
Robert Gumede told King Misuzulu kaZwelithini that Tongaat Hulett will produce ethanol and sell electricity to Eskom, lifting demand for KZN cane.
South African billionaire Christo Wiese says nobody can explain white monopoly capital to him
Christo Wiese, worth about R31 billion, says the slogan aimed at him for years is meaningless and that 95% of his wealth remains in South Africa.
South Africa's wealthy Moolman family just sold nine shopping malls for $124 million
The Moolman family sold nine shopping centres for R2 billion but still owns 1.2 million square metres of South African commercial property.
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.
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.
Latest Posts
South Africa's wealthy Wapnick family holds $108 million stake in Octodec as a rival circles
The Wapnick family holds $108 million in Octodec. Emira spent R892 million buying 23.5%, and Octodec's board says the offer undervalued the company.
Aliko Dangote could add $20 billion to his fortune in a single day in October
Bloomberg carries Dangote's refinery at construction cost. Pricing it at what investors paid in July adds $18.5 billion to his fortune overnight.
African Wealth Briefing — Mon., Aug. 31, 2026
An Angolan independent used a legal right of first refusal to snatch two of Chevron's oil blocks from a London-listed bidder — the clearest sign yet that as the majors retreat, African oil is passing into African hands.
The Inside Story: The Missing Ingredient — How Stella Okoli Went From a ₦5,000 Chemist's Shop to Chasing Sub-Saharan Africa's First Drug-Ingredient Plant
In 1977, Stella Okoli opened a small chemist's shop in Lagos with 5,000 naira and her father's house as collateral. She built it into one of Nigeria's largest drugmakers.
Deep-Dive Report: The Clinker Race — How Narendra Raval and Two Rival Billionaires Are Betting $600 Million on Making East Africa's Cement Locally
For two decades East Africa imported the clinker that makes cement. Now three billionaires, led by former temple assistant Narendra Raval, are pouring $600 million into making it locally as the multinationals retreat and tariffs bite. Inside the bet on self-sufficiency.
Investor Memo: The Pre-Emption — How Angola's Etu Energias Used a Right of First Refusal to Take Chevron's Oil Blocks From a London Bidder
Chevron agreed to sell two Angolan oil blocks to London-listed Energean for $260 million. Then Etu Energias, already a partner, used a right of first refusal to take the deal itself. A masterclass in how insiders win — and a signpost to who owns Africa's oil next.
South African tycoon Sandile Zungu cleared to challenge Danny Jordaan for SAFA presidency
SAFA's governance committee cleared Sandile Zungu to run against Danny Jordaan on Sept. 12, settling a dispute that had run since May.
Billionaire Lionel Messi retires from international football after 203 games and 124 goals
Lionel Messi announced his Argentina retirement on Instagram, in a note he wrote on July 21 and revised after his father Jorge died on Aug. 8.
Nigerian billionaire Femi Otedola's 'Making It Big' turns one, 8 lessons from the bestseller
Making It Big turned one on Aug. 18. It won Axiom gold in the US, placed second in London, and Otedola is writing the sequel.
South Africa's Bidvest has stopped buying companies and started generating cash instead
Brian Joffe's Bidvest has closed three acquisitions totaling $102 million (R1.67 billion) in its 2026 financial year, headlined by the $92 million purchase of environmental testing specialist Aquatico Group, as the South African services giant posted $8 billion in revenue.
Nigerian billionaire Phillip Ihenacho is selling most of Azura Power to an Abu Dhabi buyer
ePointZero is buying 90% of Azura Power, the 752MW producer Phillip Ihenacho's Amaya Capital founded in 2010. Amaya keeps a 10% minority stake.
Kenya's central bank clears the deal that hands the Kenyatta family a $170 million payday
Kenya's Central Bank has approved Nedbank's acquisition of a 66% stake in NCBA Group for approximately $842 million, clearing the way for one of the most significant cross-border banking transactions in East African history.
Billionaire Sky Xu's fortune falls to $8bn as Shein lists in Hong Kong
Shein lists in Hong Kong at just over a quarter of its 2022 valuation, cutting founder Sky Xu's fortune from more than $23 billion to about $8bn.
Trump's billionaire ambassador to Italy is running his diplomacy from a $450 million yacht
Tilman Fertitta is touring Italy's coast on a 384-foot yacht he paid for himself. Venice police pushed back 300 protesters when it arrived.
Billionaire Gina Rinehart is about to control most of Western Australia's new gas from 2030
Gina Rinehart's Hancock Energy has struck a deal with Strike Energy to unlock the stalled West Erregulla gas field in Western Australia, with production targeted for 2029 as the state braces for tightening gas supply.
Elon Musk's SpaceX backs $220 million water infrastructure deal in Brownsville as city disannexes 444 acres for expansion
The city of Brownsville has approved a $220 million water infrastructure deal involving Elon Musk's SpaceX and disannexed 444 acres of land to accommodate the rocket company's expanding Texas operations.
