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Botswana wants Aliko Dangote to build its cement, and its rail line, and more
President Duma Boko told Aliko Dangote in Gaborone that Botswana wants big-ticket projects, and pointed to a Trans-Kalahari rail line starting soon.
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Everton's billionaire owners are looking for new investors after 20 months
The Friedkin Group is working with advisers on an Everton stake sale, less than two years after paying more than £400 million for the club.
Hugging Face founders become billionaires in Nvidia's biggest deal
Clément Delangue, Julien Chaumond and Thomas Wolf are each worth about $1.8 billion after Nvidia agreed to buy their company for $12.93 billion, according to Bloomberg. The three French founders started Hugging Face in New York in 2016 and their first product was a chatbot aimed at teenagers,
Capitec, founded by billionaire Michiel le Roux, lists on a second South African exchange next week
Capitec takes a secondary listing on A2X from Sept. 7, in the same week JPMorgan began trading on the alternative South African exchange.
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The Inside Story: The Missing Ingredient — How Stella Okoli Went From a ₦5,000 Chemist's Shop to Chasing Sub-Saharan Africa's First Drug-Ingredient Plant
In 1977, Stella Okoli opened a small chemist's shop in Lagos with 5,000 naira and her father's house as collateral. She built it into one of Nigeria's largest drugmakers.
Deep-Dive Report: The Clinker Race — How Narendra Raval and Two Rival Billionaires Are Betting $600 Million on Making East Africa's Cement Locally
For two decades East Africa imported the clinker that makes cement. Now three billionaires, led by former temple assistant Narendra Raval, are pouring $600 million into making it locally as the multinationals retreat and tariffs bite. Inside the bet on self-sufficiency.
Investor Memo: The Pre-Emption — How Angola's Etu Energias Used a Right of First Refusal to Take Chevron's Oil Blocks From a London Bidder
Chevron agreed to sell two Angolan oil blocks to London-listed Energean for $260 million. Then Etu Energias, already a partner, used a right of first refusal to take the deal itself. A masterclass in how insiders win — and a signpost to who owns Africa's oil next.
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.
Morocco has a new billionaire, construction tycoon M'hammed Kabbaj, worth $1.7 billion
Morocco has a new billionaire in SGTM chairman M'hammed Kabbaj, whose 22.2 million shares in the construction group are worth $1.72 billion.
Dangote Cement, Nestlé Nigeria and First HoldCo are joining the FTSE frontier index
FTSE Russell named 10 Nigerian stocks newly eligible for its frontier index series, including Dangote Cement, First HoldCo and MTN Nigeria.
Botswana wants Aliko Dangote to build its cement, and its rail line, and more
President Duma Boko told Aliko Dangote in Gaborone that Botswana wants big-ticket projects, and pointed to a Trans-Kalahari rail line starting soon.
Why billionaire-controlled BUA, UBA, and Seplat missed FTSE’s Nigeria re-entry
FTSE Russell restored Nigeria to its Frontier Market Index, but billionaire-led giants like BUA, UBA, and Seplat were left off the list.
Billionaire Pierre Castel's family cannot remove the man running its African beer empire
Four branches of the Castel family have publicly distanced themselves from Romy Castel as the fight over Grégory Clerc's position drags into a year.
Indian billionaire family-linked Savannah Energy strikes gas at a second Nigerian well
Savannah Energy struck gas at a second Nigerian well, but its shares stay suspended over late accounts and net debt sits at $672 million.
Ivorian billionaire Jean Kacou Diagou is quitting Nigerian life insurance after 15 years
Jean Kacou Diagou's NSIA has approval to hand its Nigerian life portfolio to CHI Life, exiting a quarter of the subsidiary's revenue.
Kylian Mbappé-backed Alan buys Senegal's Tanel in first Africa deal
Alan, the French health insurance unicorn whose backers include Kylian Mbappé, has bought Dakar's Tanel its first move into Africa. The target is a million African customers by 2030, starting in Senegal and Côte d'Ivoire.
Nigerian tycoon John Alamu is 34 and already runs the country's largest cocoa processor
John Alamu started with ₦100,000 lending to market women in 2014. At 34 he runs Nigeria's largest cocoa processor and a bank in two countries.
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
Capitec, founded by billionaire Michiel le Roux, lists on a second South African exchange next week
Capitec takes a secondary listing on A2X from Sept. 7, in the same week JPMorgan began trading on the alternative South African exchange.
Billionaire Johann Rupert's Cartier opens first New Zealand boutique
Cartier has opened its first New Zealand store, on Auckland's Queen Street. It is the eighth in Oceania for the house that has driven most of billionaire Johann Rupert's recent gains and Richemont's third brand on the same street.
South African billionaire Stephen Saad is selling weight-loss drugs faster than anything he has seen
Aspen's normalised headline earnings rose 28% in constant currency on flat revenue, as Mounjaro took 53% of South Africa's weight-loss market.
South Africa's Brimstone Investment Corporation lifted dividends 76% despite US aid cuts
Brimstone's cash dividends rose 76.5% to R161.4 million and net asset value 11.7%, even as US health funding cuts hit its Obsidian business.
US-sanctioned Zimbabwean billionaire Kudakwashe Tagwirei has been sworn in as a senator
Sakunda founder Kudakwashe Tagwirei took his oath on Tuesday, appointed by a president who sits alongside him on the same US sanctions list.
Michiel Le Roux's Capitec blocked $43 million in fraud losses using AI that scores every payment in real time
Capitec has revealed that its AI-powered payment screening system blocked $43 million in potential fraud losses for more than 113,000 clients in the year to June 2026, while flagging more than 394,000 potentially fraudulent payments.
Two South Africans built Tekkie Town from to a $197 million company, then Steinhoff wiped it all out
From $1,230 to $197 million and back to zero: Tekkie Town founders Braam van Huyssteen and Bernard Mostert describe how Steinhoff's accounting scandal destroyed their life's work in 18 months.
South African billionaire Jannie Mouton admits the Capitec mistake that cost PSG $1.4 billion
Jannie Mouton has admitted that unbundling PSG's 58% Capitec stake in 2003 was one of the costliest mistakes in South African investment history, a decision that cost the company $1.4 billion in future returns before a fortunate re-entry partially rescued the position.
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
Everton's billionaire owners are looking for new investors after 20 months
The Friedkin Group is working with advisers on an Everton stake sale, less than two years after paying more than £400 million for the club.
Capitec, founded by billionaire Michiel le Roux, lists on a second South African exchange next week
Capitec takes a secondary listing on A2X from Sept. 7, in the same week JPMorgan began trading on the alternative South African exchange.
Billionaire Joesley Batista lobbied Trump to ease Brazil beef tariffs
Brazilian billionaire Joesley Batista reportedly met Donald Trump days before the U.S. president moved to temporarily ease tariffs on beef imports, a decision that could benefit Batista's JBS.
Dangote Cement, Nestlé Nigeria and First HoldCo are joining the FTSE frontier index
FTSE Russell named 10 Nigerian stocks newly eligible for its frontier index series, including Dangote Cement, First HoldCo and MTN Nigeria.
Elon Musk tells G20 leaders AI will add $20 to $30 trillion a year to the global economy by the end of 2027
Elon Musk told G20 leaders meeting in North Carolina that artificial intelligence will add between $20 trillion and $30 trillion to the global economy every year, while Wall Street skeptics warn nobody has yet proven the returns justify the spending.
Jeff Bezos is hiring Amazon's satellite engineers into Blue Origin
Jeff Bezos chairs Amazon and owns Blue Origin outright. His private space company has hired at least 47 engineers away from Amazon's satellite unit to build a satellite network that competes with it.
Lee Su-jin cleaned love hotel rooms at 23 and is worth $1.6 billion at 48
Lee Su-jin scrubbed motel rooms at 23. Today his travel platform Yanolja is worth $6.7 billion and he is worth $1.6 billion.
The man who sold Wiz to Google for $32 billion is now backing a scam-fighting startup
Assaf Rappaport, who sold Wiz to Alphabet for $32 billion in March, has invested in Guardio in a round valuing the Israeli startup at $1.1 billion.
Eduardo Saverin was pushed out of Facebook and is now worth $32.4 billion
Bloomberg puts Eduardo Saverin at $32.4 billion, making him Brazil's wealthiest person and Singapore's richest resident, on a 2% stake in Meta.
Botswana wants Aliko Dangote to build its cement, and its rail line, and more
President Duma Boko told Aliko Dangote in Gaborone that Botswana wants big-ticket projects, and pointed to a Trans-Kalahari rail line starting soon.
Why billionaire-controlled BUA, UBA, and Seplat missed FTSE’s Nigeria re-entry
FTSE Russell restored Nigeria to its Frontier Market Index, but billionaire-led giants like BUA, UBA, and Seplat were left off the list.
Billionaire Pierre Castel's family cannot remove the man running its African beer empire
Four branches of the Castel family have publicly distanced themselves from Romy Castel as the fight over Grégory Clerc's position drags into a year.
Indian billionaire family-linked Savannah Energy strikes gas at a second Nigerian well
Savannah Energy struck gas at a second Nigerian well, but its shares stay suspended over late accounts and net debt sits at $672 million.
Billionaire Johann Rupert's Cartier opens first New Zealand boutique
Cartier has opened its first New Zealand store, on Auckland's Queen Street. It is the eighth in Oceania for the house that has driven most of billionaire Johann Rupert's recent gains and Richemont's third brand on the same street.
Billionaire Robert Gumede’s Tongaat Hulett faces fresh $32 million court setback
Billionaire Robert Gumede’s Tongaat Hulett rescue faces a fresh legal setback after South Africa’s Constitutional Court rejected the company’s final appeal over R517 million in disputed sugar-industry payments.
