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Burkina Faso billionaire Inoussa Kanazoe acquires key gold mines as foreign firms are pushed out under Traore
Inoussa Kanazoe's Soleil Resources International acquired the BMC and Roxgold gold mines as Burkina Faso's President Ibrahim Traore accelerates the push to replace foreign miners with domestic owners.
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Egyptian dairy tycoon Safwan Thabet at war with Qatari shareholder Baladna over Juhayna stake
Egypt's Juhayna Food Industries has locked out Baladna, its Qatari second-largest shareholder with over 15% of the company, in a fresh ownership dispute at the country's biggest dairy producer.
Burkina Faso billionaire Inoussa Kanazoe acquires key gold mines as foreign firms are pushed out under Traore
Inoussa Kanazoe's Soleil Resources International acquired the BMC and Roxgold gold mines as Burkina Faso's President Ibrahim Traore accelerates the push to replace foreign miners with domestic owners.
Mr Eazi's Choplife Gaming wins Mali betting licence and takes betPawa to its 10th African market
Choplife Gaming, chaired by Nigerian musician Mr Eazi, secured PMU Mali approval to launch betPawa in Mali, taking its licensed African footprint to 10 markets.
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Wealth Intelligence: The Motsepe Architecture — How a Mining Fortune Became a Diversified Pan-African Capital Platform
A wealth-architecture profile of Patrice Motsepe, whose $4.3 billion fortune now spans diversified mining, gold, digital banking, renewable energy, and a presence on the share register of the world's largest sovereign wealth fund.
Executive Insight: The State Versus the Refinery — What NNPC's Court Filing Reveals About the Dangote IPO Risk
The refinery has already displaced the majority of Nigeria's fuel imports on volume. The NNPC's argument is therefore not primarily about supply adequacy, the refinery is demonstrably supplying the bulk of national demand, but about price.
The Inside Story: Canal+'s JSE Listing on June 3 and the Architecture of the New Pan-African Media Cycle
The Canal+ JSE listing arrives at a structurally distinctive moment.
Egyptian dairy tycoon Safwan Thabet at war with Qatari shareholder Baladna over Juhayna stake
Egypt's Juhayna Food Industries has locked out Baladna, its Qatari second-largest shareholder with over 15% of the company, in a fresh ownership dispute at the country's biggest dairy producer.
Egyptian billionaire Mohamed Mansour explains why he bought into MLS and what soccer's global future looks like
Egyptian billionaire Sir Mohamed Mansour told Sports Business Journal his global soccer ownership strategy centres on San Diego FC, Right to Dream and why the US soccer market will keep growing.
Algeria's jailed tycoon Mahieddine Tahkout faces new trial over a billion-euro fortune hidden in Switzerland and France
Jailed Algerian automobile tycoon Mahieddine Tahkout appeared before Algeria's financial crimes tribunal over new charges of money laundering and over a billion euros in assets hidden in Switzerland and France.
Egypt's billionaire El-Sewedy family eyes Cameroon investments as part of a new Algeria-Egypt industrial consortium
Egypt's Elsewedy Electric is part of a new Algerian-Egyptian industrial consortium targeting investments in Cameroon's energy and industrial sectors, according to reporting from News du Camer.
Egyptian billionaire Ahmed El-Sewedy meets prime minister to map out billions in new factories and car production
Ahmed El Sewedy met Egypt's Prime Minister Madbouly on May 24 to outline Elsewedy Electric's expansion plans, including a new 80,000-vehicle-per-year automotive factory with global partners.
How Moroccan billionaire Moulay Elalamy took 92.3% control of Sweden's Arktika bank
Le Desk revealed that Moulay Hafid Elalamy structured 92.3% control of Sweden's Arktika Capital AB through a chain of Saham vehicles, with his son installed as CEO.
Moroccan billionaire Moulay Hafid Elalamy acquires majority stake in Sweden's Arktika Capital, a debt portfolio specialist
Moroccan billionaire Moulay Hafid Elalamy has acquired a majority stake in Arktika Capital AB, a Swedish licensed credit institution that buys and manages non-performing loan portfolios across Europe.
Moroccan billionaire Anas Sefrioui discusses $46 million CIMAF cement expansion plan with Gabon's president
Anas Sefrioui's CIMAF presented a CFA26 billion expansion plan to Gabon's president on May 20, targeting a third cement line and expanded clinker production at the Owendo factory.
Burkina Faso billionaire Inoussa Kanazoe acquires key gold mines as foreign firms are pushed out under Traore
Inoussa Kanazoe's Soleil Resources International acquired the BMC and Roxgold gold mines as Burkina Faso's President Ibrahim Traore accelerates the push to replace foreign miners with domestic owners.
Mr Eazi's Choplife Gaming wins Mali betting licence and takes betPawa to its 10th African market
Choplife Gaming, chaired by Nigerian musician Mr Eazi, secured PMU Mali approval to launch betPawa in Mali, taking its licensed African footprint to 10 markets.
IFC plans $10 million loan to Idrissa Nassa's Coris Bank in Chad to expand SME lending
The IFC plans to provide up to $10 million to Coris Bank International Chad, a subsidiary of Idrissa Nassa's Coris Holding, to expand SME lending across trade, construction and agriculture.
Ghana's central bank takes Paa Kwesi Nduom's GN Savings licence fight to the Supreme Court
The Bank of Ghana has filed a Supreme Court appeal against the Court of Appeal ruling that restored Papa Kwesi Nduom's GN Savings and Loans licence, arguing the appellate court erred in law.
Nigeria's NNPC tells a court that Dangote petrol is too expensive and imports must continue
NNPC filed a counter-affidavit in Lagos arguing Dangote refinery's petrol prices are significantly high and fluctuating, and that competition from imports must continue to protect consumers.
How Nigerian tycoon Hassan Hammoud built Mamuda Group from leather into a $150 million conglomerate with 11,000 workers
Hassan Hammoud turned his late father's failing Kano tannery into a Nigerian conglomerate with 11,000 workers spanning leather, food, care products and beverages.
Aliko Dangote's sugar firm opens a $324 million rights issue to bankroll local production
Aliko Dangote's Dangote Sugar has opened a N485.9 billion ($324 million) rights issue to strengthen its balance sheet and fund a major local-production drive.
Rite Foods, owned by tycoon Adebola Adegunwa, wins court order halting rival's copycat energy drink in Nigeria
Nigeria's Federal High Court ordered Mamuda Beverages to stop producing Pop Power Energy Drink after finding it copies the Fearless bottle design.
Madagascar billionaire Hassanein Hiridjee is formally elected to Jumia's board as the e-commerce group targets 2027 profitability
Jumia shareholders formally elected Hassanein Hiridjee to the supervisory board on May 15 with 98% support, cementing Axian's governance role as the NYSE-listed e-commerce group targets 2027 profitability.
The curious case of Prateek Suri, the billionaire Africa cannot seem to verify
Prateek Suri claims a $5 billion acquisition made him Africa's richest Indian. The acquirer changes names depending on which publication you read, and his products are nearly impossible to find in African retail.
Tanzanian billionaire Edha Nahdi's Amsons Group is in advanced talks to acquire Oryx Energies for $250 million
Tanzania's Amsons Group is in advanced talks to acquire Geneva-based Oryx Energies for $250 million, including its Tanzania fuel and LPG assets.
Tanzania eyes takeover of billionaire Mohammed Dewji's idle Mbeya tea estates
Tanzania's government told parliament it is negotiating a takeover of over 2,000 idle hectares of Mo Dewji's MeTL tea estates in Mbeya to restart production and protect farmers.
Kenyan billionaire Joshua Kulei surfaces as beneficiary in $3.5 billion government contracts
Company records show Joshua Kulei is a beneficial owner of Liaison Capital, the firm behind Kenya's Sh42 billion Talanta Sports City and Sh415 billion military housing programme.
Ugandan tycoon and MTN's largest individual shareholder Charles Mbire says the telecom giant is open to partnering with Starlink
MTN Uganda chairman Charles Mbire said the company is open to a Starlink partnership after Uganda formally licensed the satellite internet provider on May 15.
Kenyan port billionaire Abubakar Joho wins court round in drug trafficking smear case
A Kenyan court has rejected a bid to remove key evidence in a criminal defamation case brought by Mombasa port billionaire Abubakar Joho over drug trafficking claims.
Tanzanian billionaire Edha Nahdi tells African businesses to stop waiting for foreign donors and start funding the continent themselves
Amsons Group CEO Edha Nahdi told the Africa CEO Forum in Kigali that African businesses must stop depending on foreign donors and take ownership of the continent's development financing.
Angola stripped Isabel dos Santos of a $2 billion empire. She now posts poolside videos from Dubai
Courts across Angola, Portugal, the UK and the US have frozen billions in assets belonging to Isabel dos Santos, who lives in Dubai and has never been convicted of a crime.
South Africa's Investec wants to double its private banking clients by 2030 by targeting earners below the ultra-wealthy
Investec plans to double its South African private banking client base from 128,000 to 250,000 by 2030 by moving aggressively into the affluent market below the ultra-wealthy.
South African billionaire Johann Rupert holds $16 billion in wealth and most of it is not in Cartier
Johann Rupert's $16.1 billion fortune spans luxury goods, South African industrial conglomerates and technology investments, with Reinet Investments reporting a net asset value of R127 billion by March 2026.
South Africa's Datatec posts one of its best years ever as AI drives record demand for cybersecurity and IT infrastructure
Datatec posted gross invoiced income of $8.5 billion and headline earnings per share up 56.5% in FY2026, with CEO Jens Montanana describing it as one of the strongest years in the group's history.
Most African boards have a strong executive bench but no CEO-ready successor, Heidrick and Struggles warns
Only four in 10 African board members feel confident their CEO succession planning leaves the organisation stronger, according to the 2026 Heidrick and Struggles CEO and Board Confidence Monitor.
Elon Musk's SpaceX has a secret weapon: Anthropic is paying it $1.25 billion a month to keep training its AI
Anthropic is paying SpaceX $1.25 billion a month for access to its Colossus supercomputing clusters through May 2029, a $15 billion annual deal disclosed in SpaceX's S-1 that transforms the IPO's investment case beyond rockets and satellites.
Elon Musk is taking SpaceX public on June 12 and it could be the largest IPO in the history of financial markets
Elon Musk's SpaceX has filed its S-1 prospectus with the SEC for a June 12 Nasdaq debut targeting a $1.75 trillion valuation and a raise of up to $75 billion, which would shatter every IPO record in history.
South Africa is the only African country in the global top 20 for billionaire growth, and it is ranked 13th
South Africa is the only African country among the world's 20 fastest-growing billionaire markets, ranked 13th globally with a projected 40% increase from 10 billionaires in 2026 to 14 by 2031, according to Knight Frank's Wealth Report 2026.
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.
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.
Latest Posts
Egyptian dairy tycoon Safwan Thabet at war with Qatari shareholder Baladna over Juhayna stake
Egypt's Juhayna Food Industries has locked out Baladna, its Qatari second-largest shareholder with over 15% of the company, in a fresh ownership dispute at the country's biggest dairy producer.
Burkina Faso billionaire Inoussa Kanazoe acquires key gold mines as foreign firms are pushed out under Traore
Inoussa Kanazoe's Soleil Resources International acquired the BMC and Roxgold gold mines as Burkina Faso's President Ibrahim Traore accelerates the push to replace foreign miners with domestic owners.
Wealth Intelligence: The Motsepe Architecture — How a Mining Fortune Became a Diversified Pan-African Capital Platform
A wealth-architecture profile of Patrice Motsepe, whose $4.3 billion fortune now spans diversified mining, gold, digital banking, renewable energy, and a presence on the share register of the world's largest sovereign wealth fund.
Executive Insight: The State Versus the Refinery — What NNPC's Court Filing Reveals About the Dangote IPO Risk
The refinery has already displaced the majority of Nigeria's fuel imports on volume. The NNPC's argument is therefore not primarily about supply adequacy, the refinery is demonstrably supplying the bulk of national demand, but about price.
African Wealth Briefing — Thurs., May 28, 2026
NNPC told a court Dangote petrol is too expensive and imports must continue — challenging the refinery's core thesis just weeks before its targeted June-July IPO and rattling investors.
Mr Eazi's Choplife Gaming wins Mali betting licence and takes betPawa to its 10th African market
Choplife Gaming, chaired by Nigerian musician Mr Eazi, secured PMU Mali approval to launch betPawa in Mali, taking its licensed African footprint to 10 markets.
Angola stripped Isabel dos Santos of a $2 billion empire. She now posts poolside videos from Dubai
Courts across Angola, Portugal, the UK and the US have frozen billions in assets belonging to Isabel dos Santos, who lives in Dubai and has never been convicted of a crime.
South Africa's Investec wants to double its private banking clients by 2030 by targeting earners below the ultra-wealthy
Investec plans to double its South African private banking client base from 128,000 to 250,000 by 2030 by moving aggressively into the affluent market below the ultra-wealthy.
Billionaire Johann Rupert's Reinet is sitting on $6.7 billion in cash
Johann Rupert's Reinet Investments is sitting on R110.1 billion ($6.72 billion) in cash after selling its two largest holdings and leaving the question of what comes next wide open.
South African billionaire Johann Rupert holds $16 billion in wealth and most of it is not in Cartier
Johann Rupert's $16.1 billion fortune spans luxury goods, South African industrial conglomerates and technology investments, with Reinet Investments reporting a net asset value of R127 billion by March 2026.
IFC plans $10 million loan to Idrissa Nassa's Coris Bank in Chad to expand SME lending
The IFC plans to provide up to $10 million to Coris Bank International Chad, a subsidiary of Idrissa Nassa's Coris Holding, to expand SME lending across trade, construction and agriculture.
Egyptian billionaire Mohamed Mansour explains why he bought into MLS and what soccer's global future looks like
Egyptian billionaire Sir Mohamed Mansour told Sports Business Journal his global soccer ownership strategy centres on San Diego FC, Right to Dream and why the US soccer market will keep growing.
Ghana's central bank takes Paa Kwesi Nduom's GN Savings licence fight to the Supreme Court
The Bank of Ghana has filed a Supreme Court appeal against the Court of Appeal ruling that restored Papa Kwesi Nduom's GN Savings and Loans licence, arguing the appellate court erred in law.
Jim Ovia, Ogunlesi, Mwangi and Jonah named Lifetime Achievement winners at ABLA 2026
Jim Ovia, Adebayo Ogunlesi, James Mwangi and Sam Jonah have been named Lifetime Achievement Award winners at the 16th African Business Leadership Awards 2026.
Aliko Dangote's sugar company just opened a $300 million rights issue. The naira almost killed it first
Dangote Sugar Refinery has opened a N485.9 billion ($300 million) rights issue at N60 per share, offering two new shares for every three held, in a bid to slash debt and revive its Sugar for Nigeria backward integration programme.
President of AfDB, Sidi Ould Tah, says Africa is not poor. It just has $4 trillion sitting in the wrong places
AfDB president Sidi Ould Tah has opened the bank's 61st annual meeting in Brazzaville by unveiling a plan to mobilize Africa's $4 trillion in pension and sovereign wealth funds to close a $400 billion annual development financing gap.
