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Billionaire Femi Otedola spends additional $13 million on First HoldCo shares
Femi Otedola bought 138 million more First HoldCo shares for about $13 million, taking his holding to 12.09 billion shares worth $1.14 billion.
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Billionaire Femi Otedola spends additional $13 million on First HoldCo shares
Femi Otedola bought 138 million more First HoldCo shares for about $13 million, taking his holding to 12.09 billion shares worth $1.14 billion.
Aliko Dangote met Canada's prime minister to discuss African investment in Canada
Aliko Dangote has met Canadian Prime Minister Mark Carney to discuss investment partnerships between Canada and Africa. No figures or agreements were disclosed.
Billionaire Mike Adenuga still owns every share of telecom giant Glo after 23 years
Globacom turns 23 this month and Mike Adenuga still owns all of it, while MTN Nigeria and Airtel Africa listed and 9mobile changed hands twice.
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The Inside Story: Ladi Delano — The Third Act
Ladi Delano built a premium vodka brand in China and got rich. He announced a $1 billion Nigerian investment venture that produced nothing anyone can point to. This week his third act, the mobility company Moove, raised $250 million at a $2.1 billion valuation.
Deep-Dive Report: Globacom — No Shares for Sale
Globacom turns 23 this month, and Mike Adenuga still owns every single share of it. While MTN Nigeria and Airtel Africa listed and raised billions, and 9mobile changed hands twice, Glo stayed wholly private — and slipped from a genuine challenger to a distant third.
Investor Memo: Nicky Oppenheimer — Sold at the Top
In 2011 Nicky Oppenheimer sold his family's 40% of De Beers to Anglo American for $5.1 billion, valuing the whole diamond company at $12.75 billion. This month Anglo agreed to sell 85% of the same company for about $1 billion.
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.
Egyptian billionaire Hisham Talaat Moustafa wins final approval for $27 billion Cairo city
Egypt's cabinet has approved the country's first private investment zone with its own customs system for Hisham Talaat Moustafa's LE1.4 trillion Spine project.
Egyptian tycoon Hend El Sherbini takes majority control of IDH despite board rejection
Hend El Sherbini's offer for Integrated Diagnostics has gone unconditional at 56.6%, days after independent directors told shareholders the price undervalued the company.
Turkish billionaire Fuat Tosyalı's Algerian cold rolling mill produces its first steel
Fuat Tosyalı's Algerian subsidiary has rolled its first cold-rolled steel at Béthioua, completing the largest Turkish industrial investment outside Turkey.
Tunisian tycoon Rached Horchani's conglomerate spans tuna fleets, Sahara hotels and banks
Rached Horchani's group runs tuna fleets, date farms, olive oil mills, three Sahara hotels, quarries and stakes across Tunisia's banks.
Billionaire Femi Otedola spends additional $13 million on First HoldCo shares
Femi Otedola bought 138 million more First HoldCo shares for about $13 million, taking his holding to 12.09 billion shares worth $1.14 billion.
Aliko Dangote met Canada's prime minister to discuss African investment in Canada
Aliko Dangote has met Canadian Prime Minister Mark Carney to discuss investment partnerships between Canada and Africa. No figures or agreements were disclosed.
Billionaire Mike Adenuga still owns every share of telecom giant Glo after 23 years
Globacom turns 23 this month and Mike Adenuga still owns all of it, while MTN Nigeria and Airtel Africa listed and 9mobile changed hands twice.
Nigerian billionaire Solomon Onafowokan's Coleman spent $20 million generating its own power
Coleman has spent more than $20 million on gas-fired power generation while paying $8.70 per unit for gas, its managing director said.
Nigerian billionaire Femi Otedola's First HoldCo stake crosses $1.2 billion at record N140
Otedola's 11.96 billion First HoldCo shares are worth about $1.2 billion after the stock hit a record N140 on Thursday.
Ghanaian tycoon Sam Jonah takes Nigeria to arbitration over $500 million Abuja property
Sam Jonah's JonahCapital has begun arbitration against Nigeria at the ICC in Paris over the termination of a lease on 501 hectares of Abuja land.
Nigerian entrepreneur Ladi Delano sold Chinese vodka, then built a $2.1 billion mobility company
Ladi Delano sold a Chinese vodka brand, announced a $1 billion Nigerian mining venture that never materialised, and has now raised $250 million for Moove.
A vehicle that bought First HoldCo shares at ₦31 is selling them at ₦110
RC Investment Management is selling 10.4 billion First HoldCo shares at ₦110, having bought them at ₦31 last year. The bank receives no proceeds.
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
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
A security firm formerly linked to Madagascar's Mamy Ravatomanga has broken with France's Amarante International as his Sodiat Group empire faces deepening judicial pressure.
Kenyan tycoon TK Muya's Family Bank wins regulatory approval for its long-awaited NSE listing
Family Bank has received Capital Markets Authority approval to list on the Nairobi Securities Exchange on June 23 after raising KES 8 billion ($61.8 million) in 2025.
Elon Musk's Tesla and SpaceX commit $16.8 billion to build Terafab chip factory in Texas
Tesla and SpaceX are committing $16.8 billion to break ground on Terafab, a colossal chip factory outside Houston that could eventually cost $119 billion.
Zimbabwean billionaire Strive Masiyiwa's Liquid Intelligent borrows $50 million from EAAIF
Liquid Intelligent Technologies, part of Strive Masiyiwa's Cassava group, has borrowed $50 million from EAAIF as part of a $450 million refinancing programme.
Pick n Pay CEO Sean Summers leans on Boxer as core supermarkets stay flat
Pick n Pay's group turnover grew 2.7%, carried by Boxer, as CEO Sean Summers' turnaround left the core supermarkets flat and a labor dispute unresolved.
Capitec CEO Graham Lee says 'excitingly low' market share signals massive growth runway ahead
Capitec CEO Graham Lee says the bank's low market share in key segments is not a weakness but a sign of how much room it still has to grow.
Patrice Motsepe stands by Infantino as FIFA president faces crisis over collapsed $4.2 billion deal
Billionaire Patrice Motsepe is standing firm behind FIFA president Gianni Infantino as a $4.2 billion World Cup deal collapse triggers a global leadership crisis.
Billionaire Nicky Oppenheimer sold 40% of De Beers for $5.1 billion. All of it now fetches $1 billion
Nicky Oppenheimer sold the family's 40% stake in De Beers for $5.1 billion in 2011. Anglo is now selling 85% of it for about $1 billion.
Johann Rupert's Remgro is building the market that ends Eskom's 103-year monopoly
Energy Exchange of Southern Africa, created by Johann Rupert's Remgro, is building the trading platform for a fully liberalised South African electricity market.
Zimbabwe's wealthy Levy family is fighting in court over Harare's best-known shopping village
The wealthy Zimbabwean family behind Harare's best-known shopping village is fighting in court over unpaid dividends and a $15 million debt.
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.
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.
Latest Posts
Billionaire Femi Otedola spends additional $13 million on First HoldCo shares
Femi Otedola bought 138 million more First HoldCo shares for about $13 million, taking his holding to 12.09 billion shares worth $1.14 billion.
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.
Elon Musk's Tesla and SpaceX commit $16.8 billion to build Terafab chip factory in Texas
Tesla and SpaceX are committing $16.8 billion to break ground on Terafab, a colossal chip factory outside Houston that could eventually cost $119 billion.
African Wealth Briefing — Fri., Aug. 7, 2026
Nicky Oppenheimer sold De Beers for $5.1 billion in 2011; the whole company is now being sold for about $1 billion — one of the best-timed exits in business history. And Femi Otedola's bank rally rolls on, his First HoldCo stake crossing $1.2 billion at a record N140.
The Inside Story: Ladi Delano — The Third Act
Ladi Delano built a premium vodka brand in China and got rich. He announced a $1 billion Nigerian investment venture that produced nothing anyone can point to. This week his third act, the mobility company Moove, raised $250 million at a $2.1 billion valuation.
Deep-Dive Report: Globacom — No Shares for Sale
Globacom turns 23 this month, and Mike Adenuga still owns every single share of it. While MTN Nigeria and Airtel Africa listed and raised billions, and 9mobile changed hands twice, Glo stayed wholly private — and slipped from a genuine challenger to a distant third.
Investor Memo: Nicky Oppenheimer — Sold at the Top
In 2011 Nicky Oppenheimer sold his family's 40% of De Beers to Anglo American for $5.1 billion, valuing the whole diamond company at $12.75 billion. This month Anglo agreed to sell 85% of the same company for about $1 billion.
Aliko Dangote met Canada's prime minister to discuss African investment in Canada
Aliko Dangote has met Canadian Prime Minister Mark Carney to discuss investment partnerships between Canada and Africa. No figures or agreements were disclosed.
Billionaire Mike Adenuga still owns every share of telecom giant Glo after 23 years
Globacom turns 23 this month and Mike Adenuga still owns all of it, while MTN Nigeria and Airtel Africa listed and 9mobile changed hands twice.
Zimbabwean billionaire Strive Masiyiwa's Liquid Intelligent borrows $50 million from EAAIF
Liquid Intelligent Technologies, part of Strive Masiyiwa's Cassava group, has borrowed $50 million from EAAIF as part of a $450 million refinancing programme.
Nigerian billionaire Solomon Onafowokan's Coleman spent $20 million generating its own power
Coleman has spent more than $20 million on gas-fired power generation while paying $8.70 per unit for gas, its managing director said.
Nigerian billionaire Femi Otedola's First HoldCo stake crosses $1.2 billion at record N140
Otedola's 11.96 billion First HoldCo shares are worth about $1.2 billion after the stock hit a record N140 on Thursday.
Pick n Pay CEO Sean Summers leans on Boxer as core supermarkets stay flat
Pick n Pay's group turnover grew 2.7%, carried by Boxer, as CEO Sean Summers' turnaround left the core supermarkets flat and a labor dispute unresolved.
Nigerian billionaire Aliko Dangote could list his refinery in South Africa after Nigeria IPO
The Johannesburg Stock Exchange says it has engaged Dangote Group and hopes to bring the refinery listing to South Africa after its Nigerian IPO.
Kenyan tycoon Muhoho Kenyatta pockets $6.6 million as NCBA lifts dividend by half
Muhoho Kenyatta collects roughly $6.6 million from NCBA's interim dividend, months before Nedbank completes its takeover of the bank his family has long backed.
