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Arthur Eze built Africa's biggest private oil portfolio by befriending presidents and almost never drilling a well, and now governments are taking their blocks back
Arthur Eze built Africa's biggest private oil portfolio by cultivating presidents and generals, almost never drilling a well, and flipping blocks to oil majors for enormous profit.
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Arthur Eze built Africa's biggest private oil portfolio by befriending presidents and almost never drilling a well, and now governments are taking their blocks back
Arthur Eze built Africa's biggest private oil portfolio by cultivating presidents and generals, almost never drilling a well, and flipping blocks to oil majors for enormous profit.
Nigerian billionaire Abdul Samad Rabiu tells Tutu Foundation fellows in Cape Town that Africa's greatness is built intentionally, one day at a time
Nigerian billionaire Abdul Samad Rabiu spoke at the Desmond and Leah Tutu Legacy Foundation in Cape Town, urging young African leaders to think beyond limitations and build intentionally.
Aliko Dangote pledges N550 million hostel to FUTO
Aliko Dangote pledged N550 million to build a student hostel at FUTO and donated N25 million to students while commissioning a clean energy lab in Owerri, Imo State.
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The Sawiris Exit: What Africa’s Richest Man Leaving London Tells Us About Where Billionaire Wealth Is Moving
Nassef Sawiris has closed his London family office, completing a two-year exit triggered by the end of the non-dom tax status. We map the full timeline, what it means for every African UHNWI with London structures, and where billionaire wealth is moving.
Exclusive Briefing: Where Does $17 Billion Go? The Kirsh Repatriation Question and What It Means for Southern African Capital Markets
Nathan Kirsh is about to become the most liquid billionaire Africa has ever produced. The $29.1 billion Sysco deal will generate approximately $17 billion in personal proceeds — and the question every private bank in southern Africa is asking is where it goes.
Deep-Dive Report: The Capital Markets Moment — How Nigeria’s FTSE Upgrade, the Dangote IPO, and Seplat’s N10,000 Are Reshaping African Equity Markets
The FTSE upgrade, the Dangote IPO, Seplat's N10,000 milestone, and a $4.61 trillion banking recapitalization all landed in the same month — we map how the infrastructure being built now will outlast any single listing.
Egyptian billionaire Sawiris family-linked HOF Capital buys Porsche's Bugatti stake in a deal valuing the brand above $1 billion
HOF Capital, co-founded by Onsi Sawiris of Egypt's billionaire Sawiris dynasty, has led a consortium to buy Porsche's full 45% stake in Bugatti Rimac.
Moroccan tycoon Yariv Elbaz's Forafric is selling its flour business to billionaire Chakib Alj while announcing it wants to pivot to drones and AI
Nasdaq-listed Forafric is selling control of its Moroccan flour business to billionaire Chakib Alj while announcing a drone and AI pivot, one year after a formal going concern warning.
Algeria's richest man Issad Rebrab's Cevital is being sued in France over Brandt's liquidation
About 60 former Brandt employees plan to sue Cevital in 2 French courts in May, calling their dismissals abusive and seeking civil damages from Algeria's biggest private company.
How Algerian billionaire Issad Rebrab's $400 million steelworks gamble in Italy collapsed and took his Brazil iron ore dream down with it
Issad Rebrab bought a struggling Italian steelworks in 2015 and planned a $400 million revival. Three years later, he sold it and his Brazil iron ore plan collapsed with it.
Billionaire Naguib Sawiris pours another $400 million into gold as geopolitical tensions push him to cut Egypt real estate
Naguib Sawiris has added $400 million to his gold investments since the start of the current geopolitical tensions, while cutting Egypt real estate and expanding in the UAE.
Egyptian billionaire Nassef Sawiris formally closes his London family office, completing a UK exit triggered by the end of the non-dom tax status
Nassef Sawiris has formally closed his London family office NNS Advisers, completing a multi-step UK departure triggered by the end of the non-dom tax regime.
Moroccan billionaire Othman Benjelloun opens Morocco's tallest tower in Sale after 8 years of construction
Morocco's tallest building, a $700 million rocket-shaped skyscraper backed by billionaire Othman Benjelloun, has opened in Sale after 8 years of construction.
Egyptian billionaire Samih Sawiris teams up with Emirati investors to deploy $235 million into a coastal tourism megaproject in Morocco's Essaouira
Egyptian billionaire Samih Sawiris has joined UAE-based Al Nowais Investments and Egypt's Sunrise Group to deploy $235 million into a coastal tourism project in Essaouira, Morocco.
Arthur Eze built Africa's biggest private oil portfolio by befriending presidents and almost never drilling a well, and now governments are taking their blocks back
Arthur Eze built Africa's biggest private oil portfolio by cultivating presidents and generals, almost never drilling a well, and flipping blocks to oil majors for enormous profit.
Aliko Dangote pledges N550 million hostel to FUTO
Aliko Dangote pledged N550 million to build a student hostel at FUTO and donated N25 million to students while commissioning a clean energy lab in Owerri, Imo State.
UBA shares drop 10% in early morning trading as investors punish the bank for withholding dividends, wiping N34.7 billion off Tony Elumelu's stake
UBA shares fell 10% Monday after the bank declared no final dividend for FY2025, erasing N34.7 billion from Tony Elumelu's stake in a single morning session.
Nigerian billionaire Abdul Samad Rabiu's fortune jumps $2.8 billion in weeks as record profits from BUA Foods push his wealth past $14 billion
Abdul Samad Rabiu's net worth has surged from $11.2 billion to over $14 billion in weeks, driven by an 83% rally in BUA Cement shares and record BUA Foods profits.
Tycoon Cosmas Maduka says a South-East seaport will end Lagos's grip on Nigeria's economy
Coscharis Group chairman Cosmas Maduka says a South-East seaport would end Lagos's monopoly on Nigeria's import and export economy and force the city to compete.
Tony Elumelu's UBA posts N405 billion profit in 2025
UBA posted N405 billion profit in 2025, down 47% from N767 billion in 2024, as the FX trading gains that padded last year's earnings reversed sharply.
Nigerian businessman Tunde Ayeni arrested by EFCC over alleged diversion of N36.5 billion and $30 million from Polaris Bank
The EFCC has arrested former Skye Bank chairman Tunde Ayeni in Abuja over the alleged diversion of N36.5 billion and $30 million from Polaris Bank through companies linked to him.
Nigerian billionaire Dahiru Mangal's cement company earns 3 ISO certifications less than 2 years after its $1.5 billion plant in Kogi State began operations
Mangal Industries has earned 3 ISO certifications for quality, environment and worker safety less than 2 years after its $1.5 billion cement plant in Kogi State began production.
James Mwangi named CEO of the Year as Equity Bank sweeps 2026 Kenya banking awards
Equity Bank's James Mwangi has been crowned Overall CEO of the Year, with the lender sweeping 10 categories at Kenya's 2026 Think Business Banking Awards.
Indian billionaire Gautam Adani is building an African port empire but a US bribery indictment has already cost him Kenya's biggest airport and $2.5 billion in deals
Adani Group controls Tanzania's biggest container terminal and is eyeing South Africa's ports, but a US bribery indictment already derailed $2.5 billion in Kenya deals.
Kenya's Co-op Bank, controlled by Gideon Muriuki, restructures into holding company for expansion
Co-operative Bank of Kenya plans to restructure into a holding company called Co-opbank Group PLC, separating its banking operations from group activities as it eyes regional expansion.
Equity CEO James Mwangi warns Africa faces a food and economic crisis within 3 years as fuel shocks, fertiliser disruption and debt stress converge
Equity Group CEO James Mwangi warned at the IMF Spring Meetings that Africa faces a serious food and economic crisis within 3 years as converging shocks bite.
Africa's richest man Aliko Dangote offers to build East Africa a refinery as big as Lagos
Aliko Dangote has offered to build a refinery in Tanzania matching his Lagos plant's scale, with Kenya and Uganda backing the plan at a Nairobi infrastructure summit.
Meet Godfrey Kirumira: the boy who sold cigarettes at 12 and built one of Uganda's biggest business empires
Godfrey Kirumira started trading cigarettes at 12 on the streets of Kampala. Today he chairs the club of Uganda's richest tycoons.
Uganda's richest man appoints daughter to council seat of Victoria University following his son's death
Victoria University has appointed Meera Ruparelia to its University Council, replacing her late brother Rajiv Ruparelia who died in a road accident in May 2025.
Nigerian billionaire Abdul Samad Rabiu tells Tutu Foundation fellows in Cape Town that Africa's greatness is built intentionally, one day at a time
Nigerian billionaire Abdul Samad Rabiu spoke at the Desmond and Leah Tutu Legacy Foundation in Cape Town, urging young African leaders to think beyond limitations and build intentionally.
Gerrie Fourie banks R155 million farewell after a decade leading Capitec
Former Capitec chief executive Gerrie Fourie banked a R155 million farewell package after a decade leading South Africa's largest bank by client base.
King Mswati III turns 40 years on the throne this week and the sovereign wealth fund meant to benefit the Swazi people runs as his personal family office
As Africa's last absolute monarch marks 40 years on the throne, critics say Tibiyo Taka Ngwane, Eswatini's sovereign wealth fund, functions as King Mswati's personal family office.
Optasia investors are unsettled as founder Bassim Haidar exits most of his stake
Optasia founder Bassim Haidar has cut his JSE stake from 19% to 1.5% within months of listing, while a related-party acquisition and Nigeria suspension rattle investors.
61-year old South African businessman Adrian Gore ran the Boston Marathon and wrote a new book while leading Discovery
Discovery co-founder and CEO Adrian Gore ran the Boston Marathon in 3:31:16 at age 61 and finished writing his upcoming book The Four Principles.
Elon Musk just told 4 million Tesla owners their cars will never fully drive themselves without a hardware swap
Elon Musk has confirmed that roughly 4 million Tesla vehicles with Hardware 3 cannot achieve unsupervised Full Self-Driving, reversing years of promises that a software update would be enough.
Johann Rupert just completed a six-year exit from South Africa's biggest bank. Here is where he is putting the money
Johann Rupert's Remgro has sold its final FirstRand shares for R3.6 billion, completing a six-year exit from South Africa's biggest bank and redirecting capital toward private assets.
South African tycoon Tokyo Sexwale's name enters the race to succeed Cyril Ramaphosa as ANC president
A KwaZulu-Natal lobby group has entered Tokyo Sexwale's name in the race to succeed Cyril Ramaphosa as ANC president ahead of the party's 2027 elective conference.
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.
Ethiopia’s richest man Mohammed Al-Amoudi sees wealth rebound past $8.1 billion
Mohammed Al-Amoudi’s net worth rebounds to more than $8.1 billion after a $2.42 billion gain tied to his stake in Preem.
Somali e-visa controversy: Ismail Ahmed points to Premier Bank involvement
Ismail Ahmed claims Premier Bank helped design Somalia’s e-visa system and benefits from visa fees through Empire Tech Solutions.
Ahmed Osman Guelleh, one of Djibouti's richest men, recalibrates for a tougher market
Ahmed Osman Guelleh built a logistics and beverage empire around Djibouti’s ports and Somaliland’s Coca-Cola plant. Now competition is testing his hold.
Somali businessman Abdiweli Hassan to invest $503 million in Kenya’s Tatu City
Somali businessman Abdiweli Hassan plans a $503 million mixed-use project at Kenya’s Tatu City, expanding his footprint from retail into urban development.
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Asantehene honors Ghanaian tycoon Daniel McKorley with commemorative gold medal on 27th enstoolment anniversary
Ghana's Asantehene Otumfuo Osei Tutu II has honored McDan Group's Daniel McKorley with a commemorative gold medal on his 27th enstoolment anniversary.
Arthur Eze built Africa's biggest private oil portfolio by befriending presidents and almost never drilling a well, and now governments are taking their blocks back
Arthur Eze built Africa's biggest private oil portfolio by cultivating presidents and generals, almost never drilling a well, and flipping blocks to oil majors for enormous profit.
Nigerian billionaire Abdul Samad Rabiu tells Tutu Foundation fellows in Cape Town that Africa's greatness is built intentionally, one day at a time
Nigerian billionaire Abdul Samad Rabiu spoke at the Desmond and Leah Tutu Legacy Foundation in Cape Town, urging young African leaders to think beyond limitations and build intentionally.
Aliko Dangote pledges N550 million hostel to FUTO
Aliko Dangote pledged N550 million to build a student hostel at FUTO and donated N25 million to students while commissioning a clean energy lab in Owerri, Imo State.
Oprah Winfrey surprises Morehouse scholars with a private send-off as she marks 37 years of funding Black men's education at the college
Oprah Winfrey made a surprise visit to Morehouse College on Friday for an intimate send-off with graduating seniors from her scholars program, which she has funded since 1989.
James Mwangi named CEO of the Year as Equity Bank sweeps 2026 Kenya banking awards
Equity Bank's James Mwangi has been crowned Overall CEO of the Year, with the lender sweeping 10 categories at Kenya's 2026 Think Business Banking Awards.
Gerrie Fourie banks R155 million farewell after a decade leading Capitec
Former Capitec chief executive Gerrie Fourie banked a R155 million farewell package after a decade leading South Africa's largest bank by client base.
Egyptian billionaire Sawiris family-linked HOF Capital buys Porsche's Bugatti stake in a deal valuing the brand above $1 billion
HOF Capital, co-founded by Onsi Sawiris of Egypt's billionaire Sawiris dynasty, has led a consortium to buy Porsche's full 45% stake in Bugatti Rimac.
Rihanna brought Fenty Beauty to India and the Ambani family welcomed her like she never left
Rihanna has launched Fenty Beauty in India with a Mumbai pop-up and a private visit to the Ambani family at Antilia, deepening the brand's push into one of the world's fastest-growing beauty markets.
Michael Jackson biopic breaks all music biopic records with $217 million global opening despite bad reviews
The Michael Jackson biopic opened to $217.4 million globally in its first weekend, setting an all-time record for music biopics and wildly surpassing studio estimates of $70 million.
Moroccan tycoon Yariv Elbaz's Forafric is selling its flour business to billionaire Chakib Alj while announcing it wants to pivot to drones and AI
Nasdaq-listed Forafric is selling control of its Moroccan flour business to billionaire Chakib Alj while announcing a drone and AI pivot, one year after a formal going concern warning.
UBA shares drop 10% in early morning trading as investors punish the bank for withholding dividends, wiping N34.7 billion off Tony Elumelu's stake
UBA shares fell 10% Monday after the bank declared no final dividend for FY2025, erasing N34.7 billion from Tony Elumelu's stake in a single morning session.
The Sawiris Exit: What Africa’s Richest Man Leaving London Tells Us About Where Billionaire Wealth Is Moving
Nassef Sawiris has closed his London family office, completing a two-year exit triggered by the end of the non-dom tax status. We map the full timeline, what it means for every African UHNWI with London structures, and where billionaire wealth is moving.
Nigerian billionaire Abdul Samad Rabiu's fortune jumps $2.8 billion in weeks as record profits from BUA Foods push his wealth past $14 billion
Abdul Samad Rabiu's net worth has surged from $11.2 billion to over $14 billion in weeks, driven by an 83% rally in BUA Cement shares and record BUA Foods profits.
African Wealth Briefing — Mon., April 27, 2026
Issad Rebrab's $400 million Italian steelworks gamble collapsed and took his Brazil iron ore dream down with it, and Gideon Muriuki's Co-op Bank restructures into a holding company as it positions for regional expansion across East Africa.
Indian billionaire Gautam Adani is building an African port empire but a US bribery indictment has already cost him Kenya's biggest airport and $2.5 billion in deals
Adani Group controls Tanzania's biggest container terminal and is eyeing South Africa's ports, but a US bribery indictment already derailed $2.5 billion in Kenya deals.
