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Nigerian tycoon Eruani Azibapu's $1 billion Niger Delta refinery is nearing completion
Azibapu Eruani's Azikel Refinery in Bayelsa is at finishing stage, with capacity redesigned to 25,000 barrels a day and cost near $1 billion.
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Africa's richest man Aliko Dangote says his $16 billion Kenya refinery needs state protection
Aliko Dangote will fund 70 percent of his $16 billion Lamu refinery with debt and says it needs protection from cheap imports.
Nigerian tycoon Eruani Azibapu's $1 billion Niger Delta refinery is nearing completion
Azibapu Eruani's Azikel Refinery in Bayelsa is at finishing stage, with capacity redesigned to 25,000 barrels a day and cost near $1 billion.
Burkinabè billionaire Mahamadou Bonkoungou's Ebomaf now holds 485km of Gabon road contracts
Mahamadou Bonkoungou's Ebomaf holds about 485km of Gabon road contracts, a year after the state cancelled a separate deal with the group.
Exclusive Content For Paid Supporters
The Inside Story: Why Kate Fotso Deserves Every Bit of Her Moniker as the 'Iron Lady of Cameroonian Cocoa'
For a generation, Kate Fotso ran Cameroon's cocoa trade in partnership with Cargill. In January 2025 she walked away from it. The next season was the worst in her company's history. This one, she took the export lead back.
Deep-Dive Report: Out of Flare — Julius Rone Targets September for Nigeria's First Floating LNG Plant
Julius Rone is targeting September for the go-ahead on Nigeria's first floating LNG plant — a locally-led project designed to capture offshore gas the country has spent decades burning off. The prize is real: turning a wasted resource into export revenue. But so is the risk.
Investor Memo: Mounir Nakhla and MNT-Halan — What Stays Private
Mounir Nakhla plans to float only MNT-Halan's Egyptian arm in Cairo, at up to $1 billion — and keep its faster-growing Turkish, Pakistani and Gulf businesses in private hands, inside a group valued at $1.4 billion in June. The interesting part of the IPO is what he is holding back.
Mounir Nakhla plans to list only MNT-Halan's Egyptian arm and keep the rest private
MNT-Halan's planned Cairo listing covers only its Egyptian arm, valued at up to $1 billion, with its Turkish, Pakistani and Gulf operations staying private.
Moroccan tycoon Chakib Alj has taken control of Forafric Maroc's flour and pasta brands
Chakib Alj's Cap Holding has completed its takeover of Forafric Maroc, adding the Tria and Maymouna brands to Morocco's largest milling group.
Moroccan King Mohammed VI names $1 billion Western Sahara highway after Donald Trump
King Mohammed VI has confirmed Morocco's 1,055km Tiznit-Dakhla expressway, built at close to $1 billion, will be called the Donald J. Trump Highway.
Algeria's wealthy Benhamadi family is now shipping air conditioners to Europe, with 250,000 units ordered
Condor, owned by Algeria's Benhamadi family, has sent its first air conditioners to Europe and holds export orders for more than 250,000 units.
Egypt's richest man Nassef Sawiris lifts OCI stake to 57% in $14 million purchase
Nassef Sawiris has bought 3 million more OCI shares for about €12.2 million, lifting his combined holding to 57.1% of the Dutch-listed company.
Egyptian billionaire Hisham Talaat Moustafa wins final approval for $27 billion Cairo city
Egypt's cabinet has approved the country's first private investment zone with its own customs system for Hisham Talaat Moustafa's LE1.4 trillion Spine project.
Egyptian tycoon Hend El Sherbini takes majority control of IDH despite board rejection
Hend El Sherbini's offer for Integrated Diagnostics has gone unconditional at 56.6%, days after independent directors told shareholders the price undervalued the company.
Turkish billionaire Fuat Tosyalı's Algerian cold rolling mill produces its first steel
Fuat Tosyalı's Algerian subsidiary has rolled its first cold-rolled steel at Béthioua, completing the largest Turkish industrial investment outside Turkey.
Africa's richest man Aliko Dangote says his $16 billion Kenya refinery needs state protection
Aliko Dangote will fund 70 percent of his $16 billion Lamu refinery with debt and says it needs protection from cheap imports.
Nigerian tycoon Eruani Azibapu's $1 billion Niger Delta refinery is nearing completion
Azibapu Eruani's Azikel Refinery in Bayelsa is at finishing stage, with capacity redesigned to 25,000 barrels a day and cost near $1 billion.
Nigerian politician Abdulaziz Yari's Geregu Power defaults on bond after $750 million takeover
Geregu Power has defaulted on its ₦40.09 billion bond, eight months after Abdulaziz Yari's MA'AM Energy took control in a $750 million deal.
Ivorian tycoon Ahmed Cissé is buying a $180 million stake in the bank he already chairs
Ahmed Cissé has chaired BICICI since 2023. The Ivorian state is now selling him a $180 million stake, at a price nobody will state.
Nigerian gas tycoon Julius Rone targets September go-ahead for $3 billion floating LNG plant
Julius Rone is targeting a September investment decision on Nigeria's first floating LNG plant, with one agreement still to be signed.
Late Nigerian billionaire Bode Akindele's estate placed under state control in will dispute
A Lagos court has placed Bode Akindele's estate under the state Administrator-General while his first son challenges the validity of the will.
Africa's richest man will break ground on a $16 billion Kenyan refinery by October
Aliko Dangote says groundbreaking on the 700,000 barrel-a-day Lamu refinery will take place by October, at a cost revised down to about $16 billion.
Cameroon's richest woman Kate Fotso retakes the cocoa export lead she lost last year
Kate Fotso's Telcar Cocoa shipped 40,631 tonnes to retake Cameroon's cocoa export lead, a year after ending two decades of partnership with Cargill.
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
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.
Zimbabwean tycoon Billy Rautenbach's ethanol is blended into the petrol the country sells
Billy Rautenbach ran Congo's state mining company and was sanctioned by the US and EU. He built the plant behind Zimbabwe's fuel blending law.
Angola presses Switzerland for the $900 million frozen in convicted billionaire Carlos São Vicente's accounts
Angola is again pressing Switzerland to release about $900 million frozen in accounts linked to Carlos Manuel de São Vicente, jailed since 2020.
Elon Musk's Tesla and SpaceX commit $16.8 billion to build Terafab chip factory in Texas
Tesla and SpaceX are committing $16.8 billion to break ground on Terafab, a colossal chip factory outside Houston that could eventually cost $119 billion.
Zimbabwean billionaire Strive Masiyiwa's Liquid Intelligent borrows $50 million from EAAIF
Liquid Intelligent Technologies, part of Strive Masiyiwa's Cassava group, has borrowed $50 million from EAAIF as part of a $450 million refinancing programme.
Pick n Pay CEO Sean Summers leans on Boxer as core supermarkets stay flat
Pick n Pay's group turnover grew 2.7%, carried by Boxer, as CEO Sean Summers' turnaround left the core supermarkets flat and a labor dispute unresolved.
Capitec CEO Graham Lee says 'excitingly low' market share signals massive growth runway ahead
Capitec CEO Graham Lee says the bank's low market share in key segments is not a weakness but a sign of how much room it still has to grow.
Patrice Motsepe stands by Infantino as FIFA president faces crisis over collapsed $4.2 billion deal
Billionaire Patrice Motsepe is standing firm behind FIFA president Gianni Infantino as a $4.2 billion World Cup deal collapse triggers a global leadership crisis.
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
Africa's richest man Aliko Dangote says his $16 billion Kenya refinery needs state protection
Aliko Dangote will fund 70 percent of his $16 billion Lamu refinery with debt and says it needs protection from cheap imports.
Nigerian tycoon Eruani Azibapu's $1 billion Niger Delta refinery is nearing completion
Azibapu Eruani's Azikel Refinery in Bayelsa is at finishing stage, with capacity redesigned to 25,000 barrels a day and cost near $1 billion.
Burkinabè billionaire Mahamadou Bonkoungou's Ebomaf now holds 485km of Gabon road contracts
Mahamadou Bonkoungou's Ebomaf holds about 485km of Gabon road contracts, a year after the state cancelled a separate deal with the group.
Rwanda shuts the alcohol line of Sina Gerard, the tycoon behind Akabanga chilli oil
Rwanda has shut the alcohol section of Sina Gerard's Urwibutso and arrested its production manager. The juice and food lines remain open.
African Wealth Briefing — Mon., Aug. 10, 2026
Egypt's MNT-Halan will list only its Egyptian arm, at up to $1 billion, keeping its Turkish, Pakistani and Gulf businesses private. And Julius Rone is targeting September for the go-ahead on Nigeria's first floating LNG plant — built to capture gas the country has spent decades burning off.
The Inside Story: Why Kate Fotso Deserves Every Bit of Her Moniker as the 'Iron Lady of Cameroonian Cocoa'
For a generation, Kate Fotso ran Cameroon's cocoa trade in partnership with Cargill. In January 2025 she walked away from it. The next season was the worst in her company's history. This one, she took the export lead back.
Deep-Dive Report: Out of Flare — Julius Rone Targets September for Nigeria's First Floating LNG Plant
Julius Rone is targeting September for the go-ahead on Nigeria's first floating LNG plant — a locally-led project designed to capture offshore gas the country has spent decades burning off. The prize is real: turning a wasted resource into export revenue. But so is the risk.
Investor Memo: Mounir Nakhla and MNT-Halan — What Stays Private
Mounir Nakhla plans to float only MNT-Halan's Egyptian arm in Cairo, at up to $1 billion — and keep its faster-growing Turkish, Pakistani and Gulf businesses in private hands, inside a group valued at $1.4 billion in June. The interesting part of the IPO is what he is holding back.
Zimbabwean tycoon Billy Rautenbach's ethanol is blended into the petrol the country sells
Billy Rautenbach ran Congo's state mining company and was sanctioned by the US and EU. He built the plant behind Zimbabwe's fuel blending law.
Rwandan tycoon Hatari Sekoko went from refugee truck driver to owning Kigali's tallest tower
Hatari Sekoko drove trucks as a refugee in Uganda. He now owns Kigali's tallest tower and Rwanda's first Marriott hotel.
Aliko Dangote says acquisitions come next as Goldman Sachs tours his $40 billion refinery
Goldman Sachs International's co-chief executive toured the Lekki refinery on Wednesday, where Aliko Dangote said his next phase will include acquisitions and new investments.
Aliko Dangote eyes 2,000MW power plant and fertiliser complex in Tanzania after $800 million cement bet
Tanzania is courting Aliko Dangote for a 2,000-megawatt power plant, a fertiliser complex and port investments, building on his group's existing $800 million cement presence.
Nigerian politician Abdulaziz Yari's Geregu Power defaults on bond after $750 million takeover
Geregu Power has defaulted on its ₦40.09 billion bond, eight months after Abdulaziz Yari's MA'AM Energy took control in a $750 million deal.
Ivorian tycoon Ahmed Cissé is buying a $180 million stake in the bank he already chairs
Ahmed Cissé has chaired BICICI since 2023. The Ivorian state is now selling him a $180 million stake, at a price nobody will state.
Haitian-born billionaire Herriot Tabuteau sells $10.5 million in Axsome shares before earnings
Herriot Tabuteau sold $10.5 million in Axsome shares on expiring options, days before earnings, and still holds a stake worth $1.6 billion.
