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Nigerian businesswoman Kofo Akinkugbe's SecureID opens East Africa's first smart card factory, commits $20 million to expansion
SecureID Kenya founder Kofo Akinkugbe has opened East Africa's first smart card factory in Nairobi, pledging $20 million and 400 jobs as operations scale.
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Billionaire Sunil Mittal's Airtel is taking its African mobile money business to London in a deal that could be worth $10 billion
Sunil Mittal's Airtel Africa is targeting a London IPO for its Airtel Money unit that could raise up to $2 billion and value the business at as much as $10 billion, people familiar with the matter said.
Johann Rupert's Remgro faces $2.3 billion valuation gap as unlisted assets weigh on stock
South African billionaire Johann Rupert's flagship Remgro is trading at a 45.9% discount to its net asset value, leaving a R38 billion valuation gap.
Nigerian businesswoman Kofo Akinkugbe's SecureID opens East Africa's first smart card factory, commits $20 million to expansion
SecureID Kenya founder Kofo Akinkugbe has opened East Africa's first smart card factory in Nairobi, pledging $20 million and 400 jobs as operations scale.
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The Sawiris Exit: What Africa’s Richest Man Leaving London Tells Us About Where Billionaire Wealth Is Moving
Nassef Sawiris has closed his London family office, completing a two-year exit triggered by the end of the non-dom tax status. We map the full timeline, what it means for every African UHNWI with London structures, and where billionaire wealth is moving.
Exclusive Briefing: Where Does $17 Billion Go? The Kirsh Repatriation Question and What It Means for Southern African Capital Markets
Nathan Kirsh is about to become the most liquid billionaire Africa has ever produced. The $29.1 billion Sysco deal will generate approximately $17 billion in personal proceeds — and the question every private bank in southern Africa is asking is where it goes.
Deep-Dive Report: The Capital Markets Moment — How Nigeria’s FTSE Upgrade, the Dangote IPO, and Seplat’s N10,000 Are Reshaping African Equity Markets
The FTSE upgrade, the Dangote IPO, Seplat's N10,000 milestone, and a $4.61 trillion banking recapitalization all landed in the same month — we map how the infrastructure being built now will outlast any single listing.
Egyptian billionaire Sawiris family-linked HOF Capital buys Porsche's Bugatti stake in a deal valuing the brand above $1 billion
HOF Capital, co-founded by Onsi Sawiris of Egypt's billionaire Sawiris dynasty, has led a consortium to buy Porsche's full 45% stake in Bugatti Rimac.
Moroccan tycoon Yariv Elbaz's Forafric is selling its flour business to billionaire Chakib Alj while announcing it wants to pivot to drones and AI
Nasdaq-listed Forafric is selling control of its Moroccan flour business to billionaire Chakib Alj while announcing a drone and AI pivot, one year after a formal going concern warning.
Algeria's richest man Issad Rebrab's Cevital is being sued in France over Brandt's liquidation
About 60 former Brandt employees plan to sue Cevital in 2 French courts in May, calling their dismissals abusive and seeking civil damages from Algeria's biggest private company.
How Algerian billionaire Issad Rebrab's $400 million steelworks gamble in Italy collapsed and took his Brazil iron ore dream down with it
Issad Rebrab bought a struggling Italian steelworks in 2015 and planned a $400 million revival. Three years later, he sold it and his Brazil iron ore plan collapsed with it.
Billionaire Naguib Sawiris pours another $400 million into gold as geopolitical tensions push him to cut Egypt real estate
Naguib Sawiris has added $400 million to his gold investments since the start of the current geopolitical tensions, while cutting Egypt real estate and expanding in the UAE.
Egyptian billionaire Nassef Sawiris formally closes his London family office, completing a UK exit triggered by the end of the non-dom tax status
Nassef Sawiris has formally closed his London family office NNS Advisers, completing a multi-step UK departure triggered by the end of the non-dom tax regime.
Moroccan billionaire Othman Benjelloun opens Morocco's tallest tower in Sale after 8 years of construction
Morocco's tallest building, a $700 million rocket-shaped skyscraper backed by billionaire Othman Benjelloun, has opened in Sale after 8 years of construction.
Egyptian billionaire Samih Sawiris teams up with Emirati investors to deploy $235 million into a coastal tourism megaproject in Morocco's Essaouira
Egyptian billionaire Samih Sawiris has joined UAE-based Al Nowais Investments and Egypt's Sunrise Group to deploy $235 million into a coastal tourism project in Essaouira, Morocco.
FirstHoldco Chairman Femi Otedola pays tribute to Mike Adenuga as the Oil and Telecoms billionaire turns 73
Femi Otedola has marked Mike Adenuga's 73rd birthday by recalling how the Globacom founder told him 24 years ago in Epe that he would be a great man.
Oil tycoons Igho Sanomi and Kevin Okyere deny bribing former Nigerian oil minister Diezani Alison-Madueke
Nigerian oil tycoon Igho Sanomi and Ghanaian businessman Kevin Okyere have denied paying bribes to former Nigerian oil minister Diezani Alison-Madueke at her London trial.
Aliko Dangote pledges 95,000 jobs as refinery expansion targets 1.4 million barrels a day
Aliko Dangote has pledged 95,000 skilled jobs as he scales his Lagos refinery to 1.4 million barrels a day, on track to overtake India's Jamnagar.
Aliko Dangote hits $30 billion mark on Forbes billionaires ranking for the first time
Forbes has valued Aliko Dangote at $30.3 billion for the first time, as his producing refinery closes a persistent gap between the world's two top wealth trackers.
Arthur Eze built Africa's biggest private oil portfolio by befriending presidents and almost never drilling a well, and now governments are taking their blocks back
Arthur Eze built Africa's biggest private oil portfolio by cultivating presidents and generals, almost never drilling a well, and flipping blocks to oil majors for enormous profit.
Aliko Dangote pledges N550 million hostel to FUTO
Aliko Dangote pledged N550 million to build a student hostel at FUTO and donated N25 million to students while commissioning a clean energy lab in Owerri, Imo State.
UBA shares drop 10% in early morning trading as investors punish the bank for withholding dividends, wiping N34.7 billion off Tony Elumelu's stake
UBA shares fell 10% Monday after the bank declared no final dividend for FY2025, erasing N34.7 billion from Tony Elumelu's stake in a single morning session.
Nigerian billionaire Abdul Samad Rabiu's fortune jumps $2.8 billion in weeks as record profits from BUA Foods push his wealth past $14 billion
Abdul Samad Rabiu's net worth has surged from $11.2 billion to over $14 billion in weeks, driven by an 83% rally in BUA Cement shares and record BUA Foods profits.
Nigerian businesswoman Kofo Akinkugbe's SecureID opens East Africa's first smart card factory, commits $20 million to expansion
SecureID Kenya founder Kofo Akinkugbe has opened East Africa's first smart card factory in Nairobi, pledging $20 million and 400 jobs as operations scale.
Tanzanian billionaire Edha Nahdi commits $35 million to build 10 mother-and-child hospitals across Kenya in the largest private-sector health grant in the country's history
Tanzanian billionaire Edha Nahdi has pledged $35 million to build 10 Level 4 mother-and-child hospitals across Kenya in the largest private health grant in the country's history.
Court freezes David Langat's land in Kericho, Eldoret and Nandi over Sh87 million vehicle loan debt that the Ruto ally has been dodging since 2016
A Kenyan court has frozen 3 land parcels belonging to David Langat and his spouse after a creditor sued to recover Sh87 million in vehicle loans that have gone unpaid since 2016.
Hassanein Hiridjee's Axian Group buys five Letshego units in pan-African banking push
Madagascar billionaire Hassanein Hiridjee's Axian Group is buying five Letshego banking subsidiaries in Ghana, Tanzania, Nigeria, Rwanda and Uganda, deepening its pan-African banking footprint.
James Mwangi named CEO of the Year as Equity Bank sweeps 2026 Kenya banking awards
Equity Bank's James Mwangi has been crowned Overall CEO of the Year, with the lender sweeping 10 categories at Kenya's 2026 Think Business Banking Awards.
Indian billionaire Gautam Adani is building an African port empire but a US bribery indictment has already cost him Kenya's biggest airport and $2.5 billion in deals
Adani Group controls Tanzania's biggest container terminal and is eyeing South Africa's ports, but a US bribery indictment already derailed $2.5 billion in Kenya deals.
Kenya's Co-op Bank, controlled by Gideon Muriuki, restructures into holding company for expansion
Co-operative Bank of Kenya plans to restructure into a holding company called Co-opbank Group PLC, separating its banking operations from group activities as it eyes regional expansion.
Equity CEO James Mwangi warns Africa faces a food and economic crisis within 3 years as fuel shocks, fertiliser disruption and debt stress converge
Equity Group CEO James Mwangi warned at the IMF Spring Meetings that Africa faces a serious food and economic crisis within 3 years as converging shocks bite.
Brett and Mark Levy built Blu Label into South Africa's invisible infrastructure and it moves R108 billion a year
Brett and Mark Levy's Blu Label Unlimited moves R108 billion a year as South Africa's dominant distributor of prepaid electricity and airtime, serving 35 million customers monthly.
Johann Rupert's Remgro faces $2.3 billion valuation gap as unlisted assets weigh on stock
South African billionaire Johann Rupert's flagship Remgro is trading at a 45.9% discount to its net asset value, leaving a R38 billion valuation gap.
South African billionaire Patrice Motsepe's ARM seals Boliden off-take deal that could restart Nkomati nickel mine
Patrice Motsepe's African Rainbow Minerals has signed a conditional nickel off-take deal with Sweden's Boliden, opening the door to restarting its mothballed Nkomati mine.
Johann Rupert's stepchild Reinet now sits on R128 billion in assets
Johann Rupert's Luxembourg-based Reinet Fund has lifted its net asset value to €6.60 billion, or R128 billion, even after shedding stakes in BAT and PICG.
South African billionaire Patrice Motsepe's ARM seals nickel off-take deal with Boliden to restart mothballed Nkomati mine
Patrice Motsepe's ARM has signed a nickel off-take deal with Sweden's Boliden to restart the mothballed Nkomati mine.
Nigerian billionaire Abdul Samad Rabiu tells Tutu Foundation fellows in Cape Town that Africa's greatness is built intentionally, one day at a time
Nigerian billionaire Abdul Samad Rabiu spoke at the Desmond and Leah Tutu Legacy Foundation in Cape Town, urging young African leaders to think beyond limitations and build intentionally.
Gerrie Fourie banks R155 million farewell after a decade leading Capitec
Former Capitec chief executive Gerrie Fourie banked a R155 million farewell package after a decade leading South Africa's largest bank by client base.
King Mswati III turns 40 years on the throne this week and the sovereign wealth fund meant to benefit the Swazi people runs as his personal family office
As Africa's last absolute monarch marks 40 years on the throne, critics say Tibiyo Taka Ngwane, Eswatini's sovereign wealth fund, functions as King Mswati's personal family office.
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.
Ethiopia’s richest man Mohammed Al-Amoudi sees wealth rebound past $8.1 billion
Mohammed Al-Amoudi’s net worth rebounds to more than $8.1 billion after a $2.42 billion gain tied to his stake in Preem.
Somali e-visa controversy: Ismail Ahmed points to Premier Bank involvement
Ismail Ahmed claims Premier Bank helped design Somalia’s e-visa system and benefits from visa fees through Empire Tech Solutions.
Ahmed Osman Guelleh, one of Djibouti's richest men, recalibrates for a tougher market
Ahmed Osman Guelleh built a logistics and beverage empire around Djibouti’s ports and Somaliland’s Coca-Cola plant. Now competition is testing his hold.
Somali businessman Abdiweli Hassan to invest $503 million in Kenya’s Tatu City
Somali businessman Abdiweli Hassan plans a $503 million mixed-use project at Kenya’s Tatu City, expanding his footprint from retail into urban development.
Latest Posts
Billionaire Sunil Mittal's Airtel is taking its African mobile money business to London in a deal that could be worth $10 billion
Sunil Mittal's Airtel Africa is targeting a London IPO for its Airtel Money unit that could raise up to $2 billion and value the business at as much as $10 billion, people familiar with the matter said.
Billionaire Oprah Winfrey signs sweeping multi-year deal with Amazon for podcast and TV library
Oprah Winfrey's Harpo Entertainment has signed a multi-year deal handing Amazon's Wondery exclusive distribution rights to The Oprah Podcast and access to her TV archive.
Brett and Mark Levy built Blu Label into South Africa's invisible infrastructure and it moves R108 billion a year
Brett and Mark Levy's Blu Label Unlimited moves R108 billion a year as South Africa's dominant distributor of prepaid electricity and airtime, serving 35 million customers monthly.
Johann Rupert's Remgro faces $2.3 billion valuation gap as unlisted assets weigh on stock
South African billionaire Johann Rupert's flagship Remgro is trading at a 45.9% discount to its net asset value, leaving a R38 billion valuation gap.
Nigerian businesswoman Kofo Akinkugbe's SecureID opens East Africa's first smart card factory, commits $20 million to expansion
SecureID Kenya founder Kofo Akinkugbe has opened East Africa's first smart card factory in Nairobi, pledging $20 million and 400 jobs as operations scale.
African Wealth Briefing — Thurs., April 30, 2026
A Kenyan court freezes David Langat's land over Sh87 million in unpaid vehicle loans, MTN Group acquires 60% stakes in MoMo and Y'ello Digital for N95 billion, and Dangote pledges 95,000 jobs as the refinery scales toward 1.4 million barrels a day.
FirstHoldco Chairman Femi Otedola pays tribute to Mike Adenuga as the Oil and Telecoms billionaire turns 73
Femi Otedola has marked Mike Adenuga's 73rd birthday by recalling how the Globacom founder told him 24 years ago in Epe that he would be a great man.
Tanzanian billionaire Edha Nahdi commits $35 million to build 10 mother-and-child hospitals across Kenya in the largest private-sector health grant in the country's history
Tanzanian billionaire Edha Nahdi has pledged $35 million to build 10 Level 4 mother-and-child hospitals across Kenya in the largest private health grant in the country's history.
Furniture tycoon Ibukun Awosika steps down from Cadbury Nigeria board after 15-year run
Ibukun Awosika has resigned from the Cadbury Nigeria board after 15 years, closing a defining era at one of Nigeria's top consumer goods firms.
Aliko Dangote's refinery expansion to create 95,000 skilled jobs
Aliko Dangote will employ 95,000 skilled workers as his Lagos refinery scales to 1.4 million barrels per day, becoming the world's largest.
South African billionaire Patrice Motsepe's ARM seals Boliden off-take deal that could restart Nkomati nickel mine
Patrice Motsepe's African Rainbow Minerals has signed a conditional nickel off-take deal with Sweden's Boliden, opening the door to restarting its mothballed Nkomati mine.
Johann Rupert's stepchild Reinet now sits on R128 billion in assets
Johann Rupert's Luxembourg-based Reinet Fund has lifted its net asset value to €6.60 billion, or R128 billion, even after shedding stakes in BAT and PICG.
Jim Ovia's Zenith Bank opens in Côte d'Ivoire, breaking into Francophone West Africa for the first time
Jim Ovia's Zenith Bank has formally launched its Côte d'Ivoire subsidiary in Abidjan, marking its first entry into Francophone West Africa's banking market.
Oil tycoons Igho Sanomi and Kevin Okyere deny bribing former Nigerian oil minister Diezani Alison-Madueke
Nigerian oil tycoon Igho Sanomi and Ghanaian businessman Kevin Okyere have denied paying bribes to former Nigerian oil minister Diezani Alison-Madueke at her London trial.
Ralph Mupita-led MTN Group moves to acquire 60% stakes in MTN Nigeria's MoMo and Y'ello Digital for N95 billion
MTN Group is acquiring 60% stakes in MTN Nigeria's MoMo payment bank and Y'ello Digital Financial Services for N95.5 billion in a major fintech restructuring.
Oprah Winfrey just handed Amazon her podcast, her book club, her Favorite Things and 25 seasons of her show
Oprah Winfrey has signed a multiyear deal with Amazon's Wondery, handing the company her podcast, Book Club, Favorite Things franchise and the full archive of her 25-season talk show.
