Featured
Indian billionaire Ravi Jaipuria scraps South African dairy deal, heads to arbitration
Varun Beverages, controlled by Indian billionaire Ravi Jaipuria, terminated its R238 million Crickley Dairy deal and sent the dispute to arbitration.
Editors' Picks
Polish billionaire Michal Solowow raises $130 million for small nuclear reactors
Polish entrepreneurs including InPost's Rafal Brzoska will invest about 500 million zloty in billionaire Michal Solowow's small nuclear reactor company.
Indian billionaire Ravi Jaipuria scraps South African dairy deal, heads to arbitration
Varun Beverages, controlled by Indian billionaire Ravi Jaipuria, terminated its R238 million Crickley Dairy deal and sent the dispute to arbitration.
Billionaire Jay-Z's firm nears deal to buy LVMH's half of Rihanna's Fenty Beauty
MarcyPen Capital Partners, co-founded by Jay-Z, could sign a deal within weeks to buy LVMH's 50% stake in Rihanna's Fenty Beauty,
Exclusive Content For Paid Supporters
The Inside Story: The Company That Built Its Own Power Station — How the Onafowokans Turned a 1975 Trading Firm Into West Africa's Largest Cable Maker
Coleman was incorporated in 1975 and did not manufacture a cable until 1996. It is now West Africa's largest cable maker, and it spent $20 million building its own power supply to get there. Fifty years, two generations, and the real cost of manufacturing in Nigeria.
Deep-Dive Report: The Quiet Conglomerate — How Cornelis Vink Built Chivita, Sold It to Coca-Cola, and Is Now Buying the Road His Own Goods Travel On
Cornelis Vink founded Chivita, sold it to Coca-Cola, and watched UAC buy it back. Now his TGI Group is buying UAC's 43% of DP World Logistics. The logic is the oldest one in African business: own the road your own goods travel on. Inside Nigeria's least-discussed large fortune.
Investor Memo: The Doubling — Dangote Group Is on Course to Take Revenue From $18 Billion to $36 Billion in a Single Year, and the Cement Arm Is Funding Its Own Expansion
Dangote Group says revenue hit about $17 billion in the first half and is on track to double to $36 billion for the year, from $18 billion in 2025. What the number is made of, why funding 25 million tonnes of cement from cash flow matters more, and what would tell you it holds.
Billionaire Aziz Akhannouch to leave office as Morocco names first woman prime minister
Morocco's king named Fatima Ezzahra El Mansouri prime minister, ending the five-year premiership of billionaire fuel tycoon Aziz Akhannouch after his party lost.
Egyptian billionaire Ahmed Elsewedy gains $174 million in Q3 as Elsewedy Electric shares climb
Ahmed Elsewedy's stake in El Sewedy Electric rose $174 million in the third quarter as the Egyptian cable maker's shares climbed 25.6%.
Billionaire Naguib Sawiris expects new gold finds in Egypt to reach at least 1 million ounces
Egyptian billionaire Naguib Sawiris expects his company's new gold exploration areas in Egypt to yield at least 1 million ounces of gold.
Africa's richest monarch watches his mining company multiply profit tenfold in six months
Managem, the mining arm of the Moroccan royal family's Al Mada, lifted first-half profit to 3.778 billion dirhams from 380 million a year earlier.
Algerian billionaire Abderrahmane Benhamadi's Condor breaks into Mali with 37 containers
Condor is shipping 37 containers of electronics and appliances to six markets, entering Mali for the first time as a gateway to the Sahel.
Billionaire Aziz Akhannouch's party loses Morocco's election and a third of its seats
Morocco's PAM won 97 of 395 seats in provisional results, while Prime Minister Aziz Akhannouch's RNI fell from 102 seats to 66 on 38% turnout.
Egyptian billionaire Nassef Sawiris is merging OCI and Orascom into one Abu Dhabi company
Nassef Sawiris wants to merge OCI into Orascom Construction in Abu Dhabi. A Dutch court froze the deal, so he is offering €4.10 a share in cash.
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.
Nigerian billionaire Jim Ovia gains $144 million on Zenith Bank shares in third quarter
Jim Ovia's Zenith Bank stake rose $144 million in the third quarter as the lender's shares climbed 27.6% on the Nigerian Exchange.
Nigerian businessman Fola Adeola gains $55 million on Aradel shares in third quarter
GTBank co-founder Fola Adeola's Aradel stake rose $54.7 million in the third quarter as Nigerian oil producers rallied on high crude prices.
Gabonese billionaire Samuel Dossou-Aworet gains $430 million in Q3 as Seplat and Aradel shares surge
Samuel Dossou-Aworet's stakes in Seplat Energy and Aradel Holdings rose $430 million in the third quarter as Nigerian oil stocks rallied.
Nigerian billionaire Femi Otedola gained $815 million in Q3 as First HoldCo shares nearly tripled
Femi Otedola gained about $815 million in the third quarter as First HoldCo shares rose 180% while he spent 351 billion naira on more stock.
Billionaire Aliko Dangote gained $2.3 billion in 3rd quarter, excluding refinery revaluation
A 19.7% rally in Dangote Cement lifted Aliko Dangote's listed stakes by $2.31 billion in the third quarter, separate from Forbes' refinery revaluation.
Former Nigerian President Goodluck Jonathan praises Azikel's $1 billion refinery
Goodluck Jonathan toured Eruani Azibapu's $1 billion Azikel refinery in Bayelsa, backed by Afreximbank and AFC, calling it a hub for Niger Delta industry.
Nigerian billionaire Tony Elumelu buys 6 million more Seplat shares, lifting stake to 21%
Tony Elumelu bought 6 million more Seplat shares through Heirs Energies, raising his combined stake in the Nigerian oil producer to 21.07%.
Dangote refinery runs above full capacity for the first time
Dangote's refinery ran at 105% of capacity in August, supplying 71% of Nigeria's petrol and cutting diesel imports by more than 80%.
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
Malawian billionaires Thom Mpinganjira and Hitesh Anadkat lose $134 million in Q3 as bank shares fall
Thom Mpinganjira and Hitesh Anadkat lost a combined $134 million in the third quarter as FDH Bank and FMB Capital shares fell.
South African billionaire Piet Mouton loses $130 million on Capitec shares in third quarter
Piet Mouton's Capitec stake lost $130 million in the third quarter as shares of South Africa's biggest retail bank fell 7%.
South African billionaire Jannie Mouton loses $115 million on Capitec shares in third quarter
PSG founder Jannie Mouton's Capitec stake lost $115 million in the third quarter as shares of South Africa's biggest retail bank fell 7%.
Zimbabwean luxury jeweler Alexander Mavros ventures into hospitality
The family behind luxury jeweler Patrick Mavros has opened The Palm Club in Harare and is eyeing more sites in Zimbabwe and Cape Town.
Wicknell Chivayo’s family confirms his death following fatal Zimbabwe helicopter crash
The family of Zimbabwean businessman Wicknell Chivayo has confirmed his death following a helicopter crash in Marondera that killed all six people aboard the aircraft.
Controversial Zimbabwean tycoon Wicknell Chivayo reported dead in helicopter crash
Businessman Wicknell Chivayo and his wife were among six people reported killed when a helicopter crashed near Marondera, Zimbabwe, on Wednesday evening.
Eswatini billionaire Natie Kirsh builds giant New York family office after $29 billion deal
Natie Kirsh's family is hiring investment chiefs to run what could be one of the biggest family offices after the $29 billion Restaurant Depot sale.
South African billionaire Michiel le Roux's Capitec lifts profit 19% to R9.5 billion
Capitec's headline earnings rose 19% to R9.5 billion in the six months to August, with active clients up 7% to 26.6 million.
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.
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.
Latest Posts
Polish billionaire Michal Solowow raises $130 million for small nuclear reactors
Polish entrepreneurs including InPost's Rafal Brzoska will invest about 500 million zloty in billionaire Michal Solowow's small nuclear reactor company.
Indian billionaire Ravi Jaipuria scraps South African dairy deal, heads to arbitration
Varun Beverages, controlled by Indian billionaire Ravi Jaipuria, terminated its R238 million Crickley Dairy deal and sent the dispute to arbitration.
Billionaire Jay-Z's firm nears deal to buy LVMH's half of Rihanna's Fenty Beauty
MarcyPen Capital Partners, co-founded by Jay-Z, could sign a deal within weeks to buy LVMH's 50% stake in Rihanna's Fenty Beauty,
Billionaire Elon Musk to co-lead Pentagon study on the future of warfare
Pete Hegseth named Elon Musk, Anduril co-founder Palmer Luckey and Newt Gingrich to lead Project Meridian, a Pentagon study on future warfare.
Billionaire Aziz Akhannouch to leave office as Morocco names first woman prime minister
Morocco's king named Fatima Ezzahra El Mansouri prime minister, ending the five-year premiership of billionaire fuel tycoon Aziz Akhannouch after his party lost.
Nigerian billionaire Jim Ovia gains $144 million on Zenith Bank shares in third quarter
Jim Ovia's Zenith Bank stake rose $144 million in the third quarter as the lender's shares climbed 27.6% on the Nigerian Exchange.
Egyptian billionaire Ahmed Elsewedy gains $174 million in Q3 as Elsewedy Electric shares climb
Ahmed Elsewedy's stake in El Sewedy Electric rose $174 million in the third quarter as the Egyptian cable maker's shares climbed 25.6%.
Kenyan banker James Mwangi gains $23 million on Equity Group shares in third quarter
James Mwangi's Equity Group stake rose $23.2 million in the third quarter after the Kenyan lender posted a record first-half profit.
Kenyan banker Titus Muya gains $12 million as Family Bank shares climb after listing
Titus Muya's Family Bank stake rose $12 million in the third quarter, the Kenyan lender's first full quarter as a listed company.
Nigerian businessman Fola Adeola gains $55 million on Aradel shares in third quarter
GTBank co-founder Fola Adeola's Aradel stake rose $54.7 million in the third quarter as Nigerian oil producers rallied on high crude prices.
Gabonese billionaire Samuel Dossou-Aworet gains $430 million in Q3 as Seplat and Aradel shares surge
Samuel Dossou-Aworet's stakes in Seplat Energy and Aradel Holdings rose $430 million in the third quarter as Nigerian oil stocks rallied.
Kenyan banker Suresh Bhagwanji Shah gains $18 million in Q3 as I&M Group shares hit a record
Suresh Shah's I&M Group stake rose $18.2 million in the third quarter as the Kenyan lender's shares climbed to a record high.
Malawian billionaires Thom Mpinganjira and Hitesh Anadkat lose $134 million in Q3 as bank shares fall
Thom Mpinganjira and Hitesh Anadkat lost a combined $134 million in the third quarter as FDH Bank and FMB Capital shares fell.
South African billionaire Piet Mouton loses $130 million on Capitec shares in third quarter
Piet Mouton's Capitec stake lost $130 million in the third quarter as shares of South Africa's biggest retail bank fell 7%.
Nigerian billionaire Femi Otedola gained $815 million in Q3 as First HoldCo shares nearly tripled
Femi Otedola gained about $815 million in the third quarter as First HoldCo shares rose 180% while he spent 351 billion naira on more stock.
Billionaire Aliko Dangote gained $2.3 billion in 3rd quarter, excluding refinery revaluation
A 19.7% rally in Dangote Cement lifted Aliko Dangote's listed stakes by $2.31 billion in the third quarter, separate from Forbes' refinery revaluation.
