Featured
Nigerian billionaire Aliko Dangote receives second shipment of machinery for $16 billion Kenya refinery
Nigerian billionaire Aliko Dangote’s planned $16 billion Kenya refinery has received a second shipment of 154 pieces of machinery at Lamu Port.
Editors' Picks
Nigerian oil tycoon Adebowale Olujimi donates solar-powered science labs to his old school
The Emadeb Energy founder paid for new solar-powered chemistry and physics laboratories at Government College, Ibadan, the school he left in 1985.
South African billionaires Johann Rupert, Patrice Motsepe back Bulls rugby boss's third term
South African billionaires Johann Rupert and Patrice Motsepe backed Willem Strauss after he won a third term as Blue Bulls Rugby Union president.
South African billionaire Koos Bekker faces backlash over 2,700-acre estate in England
Villagers around Koos Bekker's Newt hotel in Somerset have started a petition over pesticides and blame the estate for floods and drying streams.
Exclusive Content For Paid Supporters
The Inside Story: From a Chemist's Shop in Somolu — How Stella Okoli Built Emzor, and Why She Is Stepping Back Now
In 1977 Stella Okoli opened a chemist's shop in Lagos with ₦5,000, using her father's house as collateral. Emzor now makes more than 140 medicines and is building what it says will be sub-Saharan Africa's first plant for active ingredients. The story of the founder, as she steps back.
Deep-Dive Report: Morocco After Akhannouch — The Billionaire Prime Minister Leaves Office, and Where Morocco's Business Elite Is Putting Its Money
Aziz Akhannouch has left office after five years as Morocco's billionaire prime minister, and his party is moving into opposition. Meanwhile Morocco's biggest fortunes are expanding into West Africa, Spain and World Cup projects. What the change means for Akwa, the banks and the builders.
Wealth Intelligence: The Kenyan Exit — What the Kenyatta, Ndegwa and Merali Families Received as Nedbank Completed Its NCBA Takeover
Nedbank has completed its takeover of 66% of NCBA. The Kenyatta, Ndegwa and Merali families receive about $319 million, mostly in Nedbank shares, and keep NCBA stakes worth another $131 million. What each family gets, what the stock-heavy terms mean, and what to watch next.
Egyptian billionaires Nassef Sawiris and Mohamed Mansour wrongly counted in $160 billion UK exodus
A Tax Justice Network review says Bloomberg wrongly counted Egyptian billionaires Nassef Sawiris and Mohamed Mansour in its $160 billion UK exodus.
Moroccan billionaire Othman Benjelloun’s Bank of Africa to issue 5.1 million free shares to investors
Moroccan billionaire Othman Benjelloun’s Bank of Africa will issue over 5.1 million free shares as it moves MAD51.2 million of reserves into capital.
Egyptian hotel tycoon Kamel Abou Aly secures $250 million to expand in Morocco
Kamel Abou Aly's Pickalbatros Hotels & Resorts has raised $250 million from IFC and Attijariwafa Bank to buy and upgrade hotels in Morocco.
Moroccan billionaire Aziz Akhannouch leaves office after five years as prime minister
Aziz Akhannouch, whose family controls Morocco's biggest fuel distributor, handed over to Fatima Ezzahra El Mansouri and said he leaves with a clear conscience.
Moroccan billionaire Moulay Hafid Elalamy shares his 10 rules for building a business
Saham founder Moulay Hafid Elalamy gave Moroccan and African business owners 10 rules, from staying tax-compliant to knowing when to sell a company.
Egyptian billionaire Samih Sawiris lines up daughter to lead family's film festival
Egyptian billionaire Samih Sawiris says the Sawiris family is handing the El Gouna Film Festival to its next generation, starting with his daughter Talia.
Egyptian tycoon Hend El Sherbini buys $7.8 million more of her diagnostics company
Hend El Sherbini's family vehicle bought 15.6 million shares of Integrated Diagnostics Holdings for $7.8 million, two months after her takeover offer closed.
Moroccan billionaire Anas Sefrioui's property firm lifts first-half profit 20%
Groupe Addoha, the Moroccan homebuilder controlled by billionaire Anas Sefrioui, grew first-half profit 20% and holds MAD 12.9 billion in presold homes.
Nigerian oil tycoon Adebowale Olujimi donates solar-powered science labs to his old school
The Emadeb Energy founder paid for new solar-powered chemistry and physics laboratories at Government College, Ibadan, the school he left in 1985.
Nigerian billionaire Aliko Dangote loses $640 million as Dangote Cement shares fall 5.5%
Aliko Dangote lost about $640 million on Monday as Dangote Cement shares fell 5.5% to ₦1,008, leading a ₦1.47 trillion slide on the Lagos bourse.
Africa's richest man says his $100 billion 2030 revenue target is too modest
Africa's richest man told Nigerian actors and creators at his refinery that a new, larger growth target for his group will be unveiled in January.
Nigerian pharma mogul Stella Okoli steps back from running her drug company
Stella Okoli has handed day-to-day control of Emzor to senior executive Uzoma Ezeoke and urged Nigeria to back local drugmakers.
Nigerian entrepreneur Nonso Okpala's stake in VFD Group climbs to $14.6 million
Nonso Okpala helped start VFD Group from a Lagos parking space. His family office's stake in the listed investment firm is now worth $14.6 million.
Nigerian insurance tycoon Akin Ogunbiyi’s stake in Mutual Benefits is worth $33 million
Akin Ogunbiyi started Mutual Benefits Assurance in 1995 with borrowed money. Three decades later, his stake in the listed insurer is worth $33 million.
Nigerian billionaire Femi Otedola hosts Dangote, Rabiu at dinner for Lagos governor hopeful
Femi Otedola hosted Aliko Dangote and Abdul Samad Rabiu at a dinner honouring Obafemi Hamzat, the ruling party's candidate for Lagos governor in 2027.
Nigerian billionaire Aliko Dangote’s refinery IPO draws investors from 51 African countries
Aliko Dangote’s refinery says its IPO has drawn investors from more than 90 countries, including 51 of Africa’s 54 nations, before the Oct. 27 close.
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 African billionaires Johann Rupert, Patrice Motsepe back Bulls rugby boss's third term
South African billionaires Johann Rupert and Patrice Motsepe backed Willem Strauss after he won a third term as Blue Bulls Rugby Union president.
South African billionaire Koos Bekker faces backlash over 2,700-acre estate in England
Villagers around Koos Bekker's Newt hotel in Somerset have started a petition over pesticides and blame the estate for floods and drying streams.
South African tech tycoon Jens Montanana's Datatec stake tops 20% after special dividend
Most Datatec shareholders chose new shares over cash in a $429 million special dividend, pushing founder Jens Montanana's stake in the IT group above 20%.
South African fast-food tycoon Adrian Basson opens $760-a-night luxury safari lodge
Adrian Basson, who built Hungry Lion into a fried-chicken chain with more than 500 stores, has opened a luxury safari lodge in the Pilanesberg.
Botswana property tycoon Gulaam Abdoola's Turnstar Holdings stake is worth $10.2 million
Gulaam Abdoola ran Botswana's Turnstar for 25 years and built its biggest malls. His family group's stake in the property firm is worth $10.2 million.
South African billionaire Zak Calisto’s Karooooo posts record $26 million quarterly operating profit
Karooooo, the vehicle-tracking company controlled by billionaire Zak Calisto, posted a record quarterly operating profit as Cartrack subscribers rose to 2.9 million.
South African financier Magda Wierzycka may leave the investment firm she founded
Sygnia founder Magda Wierzycka says she may reconsider her future at the firm if shareholders vote down an expanded share option scheme.
South African tycoon Ipeleng Mkhari's Gautrain consortium secures $540 million from Standard Bank
Standard Bank has underwritten R9 billion of debt for the consortium, backed by Ipeleng Mkhari’s Motseng, that now runs and will upgrade the Gautrain.
Billionaire Mohammed Al-Amoudi accused of funding al-Qaeda in secret Pentagon report
A classified 2002 Pentagon report names billionaire Mohammed Al-Amoudi in an alleged money trail to Osama bin Laden, Swedish broadcaster SVT reports. He denies it.
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.
Latest Posts
Nigerian billionaire Aliko Dangote receives second shipment of machinery for $16 billion Kenya refinery
Nigerian billionaire Aliko Dangote’s planned $16 billion Kenya refinery has received a second shipment of 154 pieces of machinery at Lamu Port.
African Wealth Briefing — Tues., Oct. 20, 2026
Nedbank has completed its NCBA takeover, paying the Kenyatta, Ndegwa and Merali families about $319 million. Aziz Akhannouch has left office in Morocco. Stella Okoli has stepped back from running Emzor. And Dangote's refinery IPO enters its final week.
The Inside Story: From a Chemist's Shop in Somolu — How Stella Okoli Built Emzor, and Why She Is Stepping Back Now
In 1977 Stella Okoli opened a chemist's shop in Lagos with ₦5,000, using her father's house as collateral. Emzor now makes more than 140 medicines and is building what it says will be sub-Saharan Africa's first plant for active ingredients. The story of the founder, as she steps back.
Deep-Dive Report: Morocco After Akhannouch — The Billionaire Prime Minister Leaves Office, and Where Morocco's Business Elite Is Putting Its Money
Aziz Akhannouch has left office after five years as Morocco's billionaire prime minister, and his party is moving into opposition. Meanwhile Morocco's biggest fortunes are expanding into West Africa, Spain and World Cup projects. What the change means for Akwa, the banks and the builders.
Wealth Intelligence: The Kenyan Exit — What the Kenyatta, Ndegwa and Merali Families Received as Nedbank Completed Its NCBA Takeover
Nedbank has completed its takeover of 66% of NCBA. The Kenyatta, Ndegwa and Merali families receive about $319 million, mostly in Nedbank shares, and keep NCBA stakes worth another $131 million. What each family gets, what the stock-heavy terms mean, and what to watch next.
Nigerian oil tycoon Adebowale Olujimi donates solar-powered science labs to his old school
The Emadeb Energy founder paid for new solar-powered chemistry and physics laboratories at Government College, Ibadan, the school he left in 1985.
South African billionaires Johann Rupert, Patrice Motsepe back Bulls rugby boss's third term
South African billionaires Johann Rupert and Patrice Motsepe backed Willem Strauss after he won a third term as Blue Bulls Rugby Union president.
South African billionaire Koos Bekker faces backlash over 2,700-acre estate in England
Villagers around Koos Bekker's Newt hotel in Somerset have started a petition over pesticides and blame the estate for floods and drying streams.
South African tech tycoon Jens Montanana's Datatec stake tops 20% after special dividend
Most Datatec shareholders chose new shares over cash in a $429 million special dividend, pushing founder Jens Montanana's stake in the IT group above 20%.
Egyptian billionaires Nassef Sawiris and Mohamed Mansour wrongly counted in $160 billion UK exodus
A Tax Justice Network review says Bloomberg wrongly counted Egyptian billionaires Nassef Sawiris and Mohamed Mansour in its $160 billion UK exodus.
Nigerian billionaire Aliko Dangote loses $640 million as Dangote Cement shares fall 5.5%
Aliko Dangote lost about $640 million on Monday as Dangote Cement shares fell 5.5% to ₦1,008, leading a ₦1.47 trillion slide on the Lagos bourse.
American billionaire Eric Schmidt’s 1% Anthropic stake could be worth up to $20 billion at IPO
Eric Schmidt owns about 1% of Anthropic from a 2021 investment, a stake worth up to $20 billion at a $2 trillion IPO valuation.
Kenyan tycoon Jimi Wanjigi and his mother move to oust his brother from father’s estate
Kenyan tycoon Jimi Wanjigi and his mother, Mary Wambui, want his brother Sonny Mbui removed as an executor of the late Maina Wanjigi’s estate.
Armed police occupy Kenyan billionaire Gideon Moi’s family land in Eldoret
Armed Kenyan police occupied a five-acre Eldoret plot owned by billionaire Gideon Moi’s family, whose lawyer says no eviction notice was given.
Kenyatta, Ndegwa and Merali families secure $319 million as Nedbank completes NCBA deal
Three of Kenya's richest families have secured about $60 million in cash and 15 million Nedbank shares as Nedbank completes its NCBA takeover.
South African fast-food tycoon Adrian Basson opens $760-a-night luxury safari lodge
Adrian Basson, who built Hungry Lion into a fried-chicken chain with more than 500 stores, has opened a luxury safari lodge in the Pilanesberg.
