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South African billionaire Christo Wiese blames Pick n Pay's decline on its dividends
Christo Wiese says Pick n Pay's habit of paying out cash rather than reinvesting left it unable to keep pace with Shoprite.
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South African billionaire Christo Wiese blames Pick n Pay's decline on its dividends
Christo Wiese says Pick n Pay's habit of paying out cash rather than reinvesting left it unable to keep pace with Shoprite.
Nigerian tycoon Stanley Jegede strung 6,000km of fibre across the national power grid
Stanley Jegede hung 6,000km of fibre on Nigeria's electricity towers. The government moved to seize it and demanded $75.5 million.
Egypt's wealthy Khamis family nearly doubles Oriental Weavers profit on export subsidy windfall
Oriental Weavers, controlled by Egypt's Khamis family, nearly doubled quarterly profit as US and European buyers offset weak demand at home.
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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.
Egypt's wealthy Khamis family nearly doubles Oriental Weavers profit on export subsidy windfall
Oriental Weavers, controlled by Egypt's Khamis family, nearly doubled quarterly profit as US and European buyers offset weak demand at home.
Egypt's billionaire El-Sewedy family will supply the transformers for a giant New Zealand AI hub
Elsewedy Electric, controlled by Egypt's billionaire El-Sewedy family, will build the transformers for a planned New Zealand AI data centre.
Egyptian billionaire Hisham Talaat Moustafa ranks 30th on Forbes Middle East's CEO list
Hisham Talaat Moustafa is the highest-placed Egyptian on Forbes Middle East's Top 100 CEOs list, after TMG booked $8 billion in sales.
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.
Nigerian tycoon Stanley Jegede strung 6,000km of fibre across the national power grid
Stanley Jegede hung 6,000km of fibre on Nigeria's electricity towers. The government moved to seize it and demanded $75.5 million.
Nigerian tycoon Maher Jarmakani's Lagos port lands $1 billion from the world's biggest shipping line
Maher Jarmakani's Nigerdock has signed the world's biggest shipping line to a 45-year terminal deal at Snake Island Port in Lagos.
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.
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
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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
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South African billionaire Christo Wiese blames Pick n Pay's decline on its dividends
Christo Wiese says Pick n Pay's habit of paying out cash rather than reinvesting left it unable to keep pace with Shoprite.
Billionaire Patrice Motsepe triumphs as Tanzanian court strikes off $195 million claim
The High Court of Tanzania removed the claim from its roll over unjoined parties, leaving the underlying allegations against Patrice Motsepe's companies undecided.
South African billionaire Zak Calisto has sold $11.5 million of Karooooo stock in three weeks
Zak Calisto has sold 180,282 Karooooo shares worth about $11.5 million since late July, while keeping a stake valued above $1.1 billion.
Standard Bank CEO Sim Tshabalala warns Temu and Shein could wipe out South Africa's manufacturing sector
Standard Bank CEO Sim Tshabalala has warned that cheap Chinese imports from platforms like Temu and Shein could decimate South Africa's manufacturing sector if Africa fails to act.
South African tycoon Giovanni Ravazzotti's Italtile warns earnings will fall on cheap imports
Italtile expects headline earnings to fall up to 12.4% as cheap imported tiles squeeze margins at Ceramic Industries, its manufacturing arm.
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.
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.
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Saudi-Ethiopian Mohammed Al-Amoudi is worth $9 billion on Bloomberg but missing from the Forbes 2026 billionaires list and here is why
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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
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Latest Posts
South African billionaire Christo Wiese blames Pick n Pay's decline on its dividends
Christo Wiese says Pick n Pay's habit of paying out cash rather than reinvesting left it unable to keep pace with Shoprite.
Billionaire Patrice Motsepe triumphs as Tanzanian court strikes off $195 million claim
The High Court of Tanzania removed the claim from its roll over unjoined parties, leaving the underlying allegations against Patrice Motsepe's companies undecided.
Nigerian tycoon Stanley Jegede strung 6,000km of fibre across the national power grid
Stanley Jegede hung 6,000km of fibre on Nigeria's electricity towers. The government moved to seize it and demanded $75.5 million.
Egypt's wealthy Khamis family nearly doubles Oriental Weavers profit on export subsidy windfall
Oriental Weavers, controlled by Egypt's Khamis family, nearly doubled quarterly profit as US and European buyers offset weak demand at home.
Nigerian tycoon Maher Jarmakani's Lagos port lands $1 billion from the world's biggest shipping line
Maher Jarmakani's Nigerdock has signed the world's biggest shipping line to a 45-year terminal deal at Snake Island Port in Lagos.
Egypt's billionaire El-Sewedy family will supply the transformers for a giant New Zealand AI hub
Elsewedy Electric, controlled by Egypt's billionaire El-Sewedy family, will build the transformers for a planned New Zealand AI data centre.
Egyptian billionaire Hisham Talaat Moustafa ranks 30th on Forbes Middle East's CEO list
Hisham Talaat Moustafa is the highest-placed Egyptian on Forbes Middle East's Top 100 CEOs list, after TMG booked $8 billion in sales.
South African billionaire Zak Calisto has sold $11.5 million of Karooooo stock in three weeks
Zak Calisto has sold 180,282 Karooooo shares worth about $11.5 million since late July, while keeping a stake valued above $1.1 billion.
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.
Standard Bank CEO Sim Tshabalala warns Temu and Shein could wipe out South Africa's manufacturing sector
Standard Bank CEO Sim Tshabalala has warned that cheap Chinese imports from platforms like Temu and Shein could decimate South Africa's manufacturing sector if Africa fails to act.
Elon Musk's SpaceX lands deal with Vietnam's VinSpace to launch first private satellites in 2027
Pham Nhat Vuong's VinSpace has signed a launch contract with Elon Musk's SpaceX to send Vietnam's first privately developed satellites into orbit in the second quarter of 2027.
South African tycoon Giovanni Ravazzotti's Italtile warns earnings will fall on cheap imports
Italtile expects headline earnings to fall up to 12.4% as cheap imported tiles squeeze margins at Ceramic Industries, its manufacturing arm.
Kenyan banker Gideon Muriuki faces a bid to suspend him from Co-op Bank days after winning court protection
Days after the High Court shielded Gideon Muriuki from prosecution, an activist has asked the same court to bar him from running Co-operative Bank.
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.
