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Billionaire Mohammed Dewji puts nearly $680 million behind African expansion
Tanzanian billionaire Mohammed Dewji is putting nearly $680 million behind an aggressive African expansion as he works to build MeTL Group into a $10 billion business by 2035.
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South African property developer Brett Abrahamse is bringing Hilton into Zimbabwe for the first time
Hilton will open its first Zimbabwe hotel in 2029 with Terrace Africa, the Harare developer South African Brett Abrahamse founded at 28.
Ghanaian tycoon Joseph Siaw Agyepong's $132 million Kenyan waste deal is challenged in court
Zoomlion holds waste contracts in Nairobi and Mombasa worth billions of shillings, and both are facing legal and procurement challenges.
Billionaire Hassanein Hiridjee's AXIAN is bringing credit to 34,000 women who cannot get bank loans
AXIAN Group and the African Development Bank have launched a digital finance programme reaching 34,000 women-led businesses in five countries.
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The Inside Story: The Rule-Maker — How Jean Kacou Diagou Co-Wrote Africa's Insurance Rulebook, Then Built NSIA Into a 12-Country Empire in the Market He Regulated
Jean Kacou Diagou helped write the insurance rulebook for 14 African countries — then quit to compete in the market he'd regulated. From a €457,000 start in 1995 he built NSIA into a 12-country bank-insurance group. This week he pruned it, exiting Nigerian life insurance.
Deep-Dive Report: The Last Empire — Inside the €7 Billion Castel Group, Africa's Biggest Brewer, and the Family War Now Headed to a Singapore Court
The Castel Group is Africa's biggest brewer outside South Africa, sells ~€7 billion a year, and almost no one has heard of it. Now the 99-year-old founder's heirs are at war with the CEO he installed — fought inside a Singapore trust, headed for a courtroom this autumn.
Wealth Intelligence: The Index Effect — Why Nigeria's Return to FTSE's Frontier Index Rewards Dangote and First HoldCo but Leaves Out BUA, UBA and Seplat
Nigeria rejoins FTSE's frontier index on Sept 21, sending global passive capital to ten giants — Dangote Cement, First HoldCo, MTN. But BUA, UBA and Seplat were left out on free float, not size. The paradox: the concentration that makes these owners rich keeps their companies out.
Egyptian tycoon Medhat Mohamed Khalil abandons sale of Raya Foods to Helios
Medhat Khalil's Raya Holding cancelled the sale of Raya Foods to Helios after conditions went unmet, eight months after board approval.
Egyptian shipping tycoon Ahmed Tarek Khalil sells his entire Ajwa stake for $6 million
Ahmed Tarek Khalil sold 8.34% of Ajwa for Food Industries Egypt for EGP 301.65 million, about $6 million, exiting the edible oils maker entirely.
Billionaire Naguib Sawiris wants to run some of Egypt's airports
Orascom Investment is forming a consortium with a global airport operator to bid for some of the 11 Egyptian airports going to private hands.
Egyptian billionaire Samih Sawiris is spending €200 million on a resort Morocco never finished
Samih Sawiris wants to recreate El Gouna on Morocco's Atlantic coast, starting with 800 rooms in a €200 million first phase at Mogador-Essaouira.
Egyptian healthcare tycoon Hend El Sherbini borrows $60 million to take her company private
Riyada Managers lent Hena Holdings $60 million to fund the buyout of Integrated Diagnostics, the lab group Hend El Sherbini's mother founded.
Swvl raises $13m from Naguib Sawiris-backed Coefficient for US push
Four years after a $1.5bn SPAC listing that unravelled, Egypt's Swvl has raised $13 million led by Coefficient LP, the Houston firm backed by the Sawiris family — funding a US push and a new lending product for transport operators.
Moroccan canned fish billionaire Saïd Alj holds a $114 million stake in insurer Sanlam Maroc
Said Alj, the Moroccan behind Titus sardines, owns 7.206% of Sanlam Maroc, a stake worth $114 million after the Allianz Maroc merger.
Morocco has a new billionaire, Mohammed Bouzoubaa, with a $1.6 billion stake in TGCC
Morocco has another new billionaire in TGCC founder Mohammed Bouzoubaa, whose 19.3 million shares in the construction group are worth $1.62 billion.
Aliko Dangote's oil company hires three rigs to unlock 1.6 billion barrels
West African Exploration and Production, 85% owned by Dangote, has contracted three jack-up rigs to begin drilling OML 71 and 72 in December.
Ghanaian tycoon Joseph Siaw Agyepong's $132 million Kenyan waste deal is challenged in court
Zoomlion holds waste contracts in Nairobi and Mombasa worth billions of shillings, and both are facing legal and procurement challenges.
Benin-born oil veteran Samuel Dossou-Aworet holds $1.4 billion of Nigerian oil shares
Samuel Dossou-Aworet's stakes in Seplat and Aradel are worth $1.43 billion, built by a Benin-born engineer who once ran Gabon's oil sector.
Nigerian gaming mogul Mr Eazi bought 17.31% of a Ghanaian drug maker after his mother died
Music mogul Mr Eazi bought 17.31% of Intravenous Infusions Plc after watching patients go without basic drugs while his mother was dying.
Nigerian oil tycoon Austin Avuru co-founded Seplat and now grows tomatoes in Ogun State
Austin Avuru co-founded Seplat and retired as CEO in 2020. His family holding company now runs greenhouse farms in Ogun State growing tomatoes.
Gambian telecoms tycoon Muhammed Jah is the subject of a new children's book
Fye Network and Q Group will publish a children's book about Muhammed Jah, who began with $16,000 and built The Gambia's largest conglomerate.
Idrissa Nassa's Coris Bank posts $74 million H1 profit as bad loan charges jumped 48%
Coris Bank International Burkina Faso lifted half-year net income 23.5% to $74 million while its cost of risk rose 48% to a seven-year high.
Nigerian-born billionaire Bassim Haidar has given Farage's Reform UK another £192,000
Bassim Haidar, born in Nigeria to Lebanese parents, gave Reform UK £192,000 between April and June, taking his disclosed total past £547,000.
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 property developer Brett Abrahamse is bringing Hilton into Zimbabwe for the first time
Hilton will open its first Zimbabwe hotel in 2029 with Terrace Africa, the Harare developer South African Brett Abrahamse founded at 28.
South African billionaire Sandile Zungu faces long odds in next week's SAFA election
Sandile Zungu goes into the Sept. 12 SAFA election with 12 regions behind him against 36 for Danny Jordaan, a source says.
South African billionaire Michiel le Roux has given the DA $13 million in five years
Capitec founder Michiel le Roux has donated $13 million to the Democratic Alliance over five years, the largest sum from any individual donor.
South African tycoon Zunaid Moti has built a school named after Botswana's president
Zunaid Moti's African Hero unveiled the Duma Boko School and Clinic in Gaborone, months after Botswana's finance ministry rejected his proposal.
South African coal tycoon Sipho Nkosi left Exxaro and now funds films and video games
Sipho Nkosi built Exxaro into a major coal producer, retired in 2016 and now chairs Talent10, which has backed IoT, films, gaming and insurance.
South African billionaire Douw Steyn left an insurance group, a hotel and a private city
Douw Steyn bought a bankrupt insurer in 1984 and built Budget Holdings Limited, Steyn City and the Saxon Hotel before his death in February 2025.
Angola is selling $261 million of bank shares seized from jailed tycoon Carlos Sao Vicente
Angola's markets regulator has approved the sale of a 34% stake in Standard Bank de Angola, seized from jailed tycoon Carlos Sao Vicente.
Zulu royal household demands clarity on billionaire Robert Gumede's Tongaat Hulett deal
Zulu Royal Chancellor Malusi Zondi gave Trade Minister Parks Tau five business days to explain the IDC transaction involving Tongaat Hulett.
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.
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.
Latest Posts
Billionaire Mohammed Dewji puts nearly $680 million behind African expansion
Tanzanian billionaire Mohammed Dewji is putting nearly $680 million behind an aggressive African expansion as he works to build MeTL Group into a $10 billion business by 2035.
Aliko Dangote's oil company hires three rigs to unlock 1.6 billion barrels
West African Exploration and Production, 85% owned by Dangote, has contracted three jack-up rigs to begin drilling OML 71 and 72 in December.
South African property developer Brett Abrahamse is bringing Hilton into Zimbabwe for the first time
Hilton will open its first Zimbabwe hotel in 2029 with Terrace Africa, the Harare developer South African Brett Abrahamse founded at 28.
Billionaire Johann Rupert’s mayonnaise giant makes 227,000 jars a day
Billionaire Johann Rupert-backed RCL Foods produces 227,000 jars of mayonnaise daily, with Nola holding a 41.5% share of South Africa’s market.
Ghanaian tycoon Joseph Siaw Agyepong's $132 million Kenyan waste deal is challenged in court
Zoomlion holds waste contracts in Nairobi and Mombasa worth billions of shillings, and both are facing legal and procurement challenges.
Billionaire Hassanein Hiridjee's AXIAN is bringing credit to 34,000 women who cannot get bank loans
AXIAN Group and the African Development Bank have launched a digital finance programme reaching 34,000 women-led businesses in five countries.
Billionaire LeBron James is teaming up with Polymarket
LeBron James has teased a Polymarket partnership, six weeks after $273 million of contracts traded on his free agency decision.
South African billionaire Sandile Zungu faces long odds in next week's SAFA election
Sandile Zungu goes into the Sept. 12 SAFA election with 12 regions behind him against 36 for Danny Jordaan, a source says.
Benin-born oil veteran Samuel Dossou-Aworet holds $1.4 billion of Nigerian oil shares
Samuel Dossou-Aworet's stakes in Seplat and Aradel are worth $1.43 billion, built by a Benin-born engineer who once ran Gabon's oil sector.
Nigerian gaming mogul Mr Eazi bought 17.31% of a Ghanaian drug maker after his mother died
Music mogul Mr Eazi bought 17.31% of Intravenous Infusions Plc after watching patients go without basic drugs while his mother was dying.
South African billionaire Michiel le Roux has given the DA $13 million in five years
Capitec founder Michiel le Roux has donated $13 million to the Democratic Alliance over five years, the largest sum from any individual donor.
Nigerian oil tycoon Austin Avuru co-founded Seplat and now grows tomatoes in Ogun State
Austin Avuru co-founded Seplat and retired as CEO in 2020. His family holding company now runs greenhouse farms in Ogun State growing tomatoes.
Kenyan tycoon Wilfred Murungi's Mastermind Tobacco collapsed five years after his death
Wilfred Murungi founded Mastermind Tobacco in 1987 and built Kenya's second-largest cigarette maker. Its assets went under the hammer in 2025.
Gambian telecoms tycoon Muhammed Jah is the subject of a new children's book
Fye Network and Q Group will publish a children's book about Muhammed Jah, who began with $16,000 and built The Gambia's largest conglomerate.
South African tycoon Zunaid Moti has built a school named after Botswana's president
Zunaid Moti's African Hero unveiled the Duma Boko School and Clinic in Gaborone, months after Botswana's finance ministry rejected his proposal.
South African coal tycoon Sipho Nkosi left Exxaro and now funds films and video games
Sipho Nkosi built Exxaro into a major coal producer, retired in 2016 and now chairs Talent10, which has backed IoT, films, gaming and insurance.
