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DR Congo opens corruption probe into billionaire Rawji family, owners of Rawbank
DRC prosecutors have opened a corruption inquiry touching the Rawji family, owners of the country's biggest bank, then lifted a travel ban on them.
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Ghana tax authority seals businesman Daniel McKorley's Electrochem plant over $560,000 debt
Ghana's tax authority has sealed the offices of Electrochem, owned by billionaire Daniel McKorley, giving it seven days to pay a GH¢8.6m tax debt.
Billionaire Mohammed Dewji's MeTL signs Italian deal for silos at a Tanzanian grain plant
A MeTL Group unit owned by billionaire Mohammed Dewji has signed a 2 million euro deal for Italian silos and equipment at a Tanzanian grain plant.
DR Congo opens corruption probe into billionaire Rawji family, owners of Rawbank
DRC prosecutors have opened a corruption inquiry touching the Rawji family, owners of the country's biggest bank, then lifted a travel ban on them.
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The Inside Story: The Seized Empire
This week, Angola begins selling shares in Unitel the telecom giant it took from Isabel dos Santos, once Africa’s richest woman. The IPO of a seized fortune, and the unresolved fight over how it was built and how it was taken.
Deep-Dive Report: Samuel Dossou-Aworet — The Corridor Builder
He ran Gabon’s oil for 13 years, built a near-billion-dollar private energy empire from Geneva and has spent a decade trying to build Benin a trade corridor to the Sahel. This week, the first trains of that dream finally moved.
Wealth Intelligence: Michiel Le Roux — Banking the Overlooked
He built Capitec for the customers South Africa’s banks ignored — and rode it to a $3.8 billion fortune as the lender became Africa’s most valuable bank.
Egyptian billionaire Naguib Sawiris pours another $10 million into the Giza pyramids revamp
Naguib Sawiris is adding about $10 million to his Giza pyramids overhaul, funding 30 electric buses and a 15,000-seat sports pavilion.
Billionaire Nassef Sawiris' Aston Villa puts nearly its entire academy up for sale over spending rules
Nassef Sawiris and Wes Edens have made almost all of Aston Villa's academy players available for sale to comply with new spending rules.
Allam family's Hassan Allam wins contract for Montage hotel and villas at Ras El-Hekma
Hassan Allam Construction has won the contract to build a 200-key Montage hotel and 96 branded villas at Egypt's Ras El-Hekma megaproject.
Moroccan tycoon Rita Zniber's Diana Holding in talks with Kazakhstan over grain and farm trade
Kazakhstan's ambassador has met Rita Zniber, head of Morocco's Diana Holding, to discuss supplying grain and oils and joint investments.
OCI board recommends billionaire Nassef Sawiris' EUR 4.10 takeover offer
OCI Global's board has formally recommended Nassef Sawiris' EUR 4.10 all-cash takeover offer and agreed to hold a shareholder vote on the proposed Orascom Construction merger.
Billionaire Ahmed El Sewedy's Elsewedy Electric launches a new generator range to power Egypt's industrial expansion
Ahmed El Sewedy's Elsewedy Electric has launched a new generator range spanning 9 to 2,750 kVA, expanding its power generation portfolio for Egypt's industrial and infrastructure sectors.
Egyptian billionaire Naguib Sawiris raises Giza pyramid investment to $40.6 million
Naguib Sawiris' Orascom Pyramids is raising its Giza plateau investment to $40.6 million by 2027, deepening the Egyptian billionaire's decade-long bet on Egypt's tourism transformation.
Egypt's Farida Khamis bet the family carpet fortune on a $680 million petrochemical plant
While her sister runs the world's largest carpet maker, Farida Khamis built Egypt's only integrated polypropylene producer and chairs a $680 million industrial bet.
Ghana tax authority seals businesman Daniel McKorley's Electrochem plant over $560,000 debt
Ghana's tax authority has sealed the offices of Electrochem, owned by billionaire Daniel McKorley, giving it seven days to pay a GH¢8.6m tax debt.
DR Congo opens corruption probe into billionaire Rawji family, owners of Rawbank
DRC prosecutors have opened a corruption inquiry touching the Rawji family, owners of the country's biggest bank, then lifted a travel ban on them.
Billionaire Ibrahim Mahama's company defies court order over $100 million Ghana gold mine
A company owned by Ibrahim Mahama, brother of Ghana's president, has refused to leave a disputed $100 million gold mine despite two court rulings.
Africa's richest man picks Lamu for $17 billion Kenya refinery as engineering work begins
Aliko Dangote has selected Lamu for a $17 billion, 700,000-barrel-a-day refinery, with soil tests and engineering work already under way.
Tycoon Julius Rone's UTM FLNG signs 15-year gas deal for Nigeria's first floating LNG plant
Julius Rone's UTM FLNG signed a 15-year deal with NNPC and Seplat for feed gas, clearing a hurdle to Nigeria's first floating LNG.
Senegalese billionaire Yerim Sow's Bridge Bank opens $118 million share sale on the BRVM
Yerim Sow's Bridge Bank has opened a $118 million offer for 20% of its shares, ahead of a listing on West Africa's BRVM exchange.
Olugbenga Agboola's Flutterwave takes Circle investment to expand USDC settlement in Africa
Flutterwave secured a strategic investment from Circle Ventures to embed USDC settlement into its payments network across 34 African markets.
Nigerian businessman Wale Tinubu's Oando swings back to profit as production jumps 32%
Wale Tinubu's Oando swung to a 204.8 billion naira profit for 2025 as production rose 32%, and the company targets higher output in 2026.
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
Kenya signs $1.2 billion JKIA deal with China Road and Bridge; government says Chivayo firm did not bid
Chirchir stated that no Chivayo-linked company bid for the JKIA contract, naming China Road and Bridge Corporation as the signatory.
Family Bank founder Titus Muya and associates pocket $36.6 million paper gain as Kenyan lender surges 44% on NSE debut
Family Bank founder Titus Muya and his associates pocketed a $36.6 million paper gain as the Kenyan lender surged 44% on its NSE debut Tuesday.
Billionaire Rostam Aziz's Taifa Mining clears key hurdle at Tanzania gold project set for construction
Rostam Aziz's Taifa Mining has cleared a critical pre-construction drilling milestone at Lake Victoria Gold's fully permitted Imwelo gold project in Tanzania.
Tanzanian billionaire Edha Nahdi's cement bets pay off as EAPC profit jumps five-fold
Tanzanian tycoon Edhah Abdallah Munif's investments in Kenya's two biggest cement companies are already paying off handsomely, with both posting sharply improved financial results.
Madagascar tycoon Mamy Ravatomanga's security firm severs ties with France's Amarante International
A security firm formerly linked to Madagascar's Mamy Ravatomanga has broken with France's Amarante International as his Sodiat Group empire faces deepening judicial pressure.
Kenyan tycoon TK Muya's Family Bank wins regulatory approval for its long-awaited NSE listing
Family Bank has received Capital Markets Authority approval to list on the Nairobi Securities Exchange on June 23 after raising KES 8 billion ($61.8 million) in 2025.
Adil Popat's Simba Corp commits $7.7 million to Kenya electric vehicle assembly line
Adil Popat's Simba Corp is investing Sh1 billion ($7.7 million) in a dedicated electric vehicle assembly line at its Mombasa plant through subsidiary Associated Vehicle Assemblers.
South African tycoon Sandile Zungu confirms bid to unseat Danny Jordaan as SAFA president
Businessman Sandile Zungu, the AmaZulu owner, has confirmed he will challenge Danny Jordaan for the South African Football Association presidency in September.
Billionaire Patrice Motsepe's African Rainbow Capital wins South African ruling in $195 million graphite fight
Patrice Motsepe's African Rainbow Capital says a Johannesburg court cleared it of contract claims in a $195 million Tanzanian graphite dispute.
South Africa's two richest men are locked in a decades-long horse racing rivalry
Johann Rupert and the Oppenheimer family have poured billions into South African horse racing, building rival stud farms and saving the sport.
Zimbabwean tycoon Wicknell Chivayo's private-jet celebration of Mnangagwa's 2030 term draws mixed reaction
A video of Zimbabwean businessman Wicknell Chivayo celebrating Mnangagwa's term extension aboard a private jet has sparked a lively online debate.
South African billionaire Michiel le Roux borrows $402 million against his Capitec shares
Capitec co-founder Michiel le Roux has raised about $402 million by refinancing a loan secured against 1.37 million shares in his own bank.
Billionaire Patrice Motsepe plays down ANC presidency run as polls put him ahead
Patrice Motsepe played down running for ANC president, saying his contribution is best made outside politics, even as polls show him leading.
Pick n Pay, controlled by Soutgh Africa's billionaire Ackerman family, sells down its Boxer crown jewel to fund a slow turnaround
Pick n Pay has sold down more of Boxer for R4.7 billion, funding a slow turnaround that cost the Ackerman family control of the retailer.
Angola prepares to list Unitel, the telecom empire seized from former billionaire Isabel dos Santos
Unitel, the Angolan telecoms giant once part-owned by Isabel dos Santos, will start an IPO roadshow next week ahead of listing a 15% stake.
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.
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.
Latest Posts
Ghana tax authority seals businesman Daniel McKorley's Electrochem plant over $560,000 debt
Ghana's tax authority has sealed the offices of Electrochem, owned by billionaire Daniel McKorley, giving it seven days to pay a GH¢8.6m tax debt.
Billionaire Mohammed Dewji's MeTL signs Italian deal for silos at a Tanzanian grain plant
A MeTL Group unit owned by billionaire Mohammed Dewji has signed a 2 million euro deal for Italian silos and equipment at a Tanzanian grain plant.
DR Congo opens corruption probe into billionaire Rawji family, owners of Rawbank
DRC prosecutors have opened a corruption inquiry touching the Rawji family, owners of the country's biggest bank, then lifted a travel ban on them.
Elon Musk settles US securities case over Twitter stake for $1.5 million
A US judge has approved Pretoria-born Elon Musk's $1.5 million settlement with regulators over the late disclosure of his 2022 Twitter stake.
Billionaire Ibrahim Mahama's company defies court order over $100 million Ghana gold mine
A company owned by Ibrahim Mahama, brother of Ghana's president, has refused to leave a disputed $100 million gold mine despite two court rulings.
African Wealth Briefing — Thurs., July 9, 2026
Aliko Dangote picks Lamu for a $17 billion Kenyan refinery — his second continental-scale bet in a fortnight. Michiel le Roux borrows $402 million against his Capitec shares.
South African tycoon Sandile Zungu confirms bid to unseat Danny Jordaan as SAFA president
Businessman Sandile Zungu, the AmaZulu owner, has confirmed he will challenge Danny Jordaan for the South African Football Association presidency in September.
Egyptian billionaire Naguib Sawiris pours another $10 million into the Giza pyramids revamp
Naguib Sawiris is adding about $10 million to his Giza pyramids overhaul, funding 30 electric buses and a 15,000-seat sports pavilion.
Tyler Perry accusers' lawyer alleges billionaire abused 'many other' aspiring male actors
A lawyer suing Tyler Perry on behalf of two accusers now alleges in a court filing that the billionaire abused "many other" aspiring male actors.
Billionaire Patrice Motsepe's African Rainbow Capital wins South African ruling in $195 million graphite fight
Patrice Motsepe's African Rainbow Capital says a Johannesburg court cleared it of contract claims in a $195 million Tanzanian graphite dispute.
South Africa's two richest men are locked in a decades-long horse racing rivalry
Johann Rupert and the Oppenheimer family have poured billions into South African horse racing, building rival stud farms and saving the sport.
Africa's richest man picks Lamu for $17 billion Kenya refinery as engineering work begins
Aliko Dangote has selected Lamu for a $17 billion, 700,000-barrel-a-day refinery, with soil tests and engineering work already under way.
Zimbabwean tycoon Wicknell Chivayo's private-jet celebration of Mnangagwa's 2030 term draws mixed reaction
A video of Zimbabwean businessman Wicknell Chivayo celebrating Mnangagwa's term extension aboard a private jet has sparked a lively online debate.
Michael Jordan extends Upper Deck deal as the card maker's first Legacy Partner
Michael Jordan has extended his 35-year Upper Deck partnership, becoming the card maker's first Legacy Partner in a deal of undisclosed value.
Indian billionaire Ravi Jaipuria's Varun Beverages enters Kenya with $32 million dairy deal
Ravi Jaipuria's Varun Beverages is entering Kenya with a $32 million deal for the dairy, juice and water business of a family-owned company.
Billionaire John Arnold funds $2.6 million study into the health risks of sports betting
Billionaire John Arnold's foundation has awarded $2.6 million to 12 universities and think tanks studying how online sports betting harms users.
