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The Dangote Refinery IPO is on track to open subscription in May, with a Nigerian Exchange listing targeted between June and July. Today's Investor Memo lays out the structural questions Elite subscribers should be asking before the prospectus drops.
The UAE has formally exited OPEC effective May 1, removing the cartel's third-largest producer with 4.8 million bpd capacity from the framework that has structured global oil markets for nearly six decades. The implications for Africa's six remaining OPEC members are not favorable.
Sumitomo is paying $418 million to walk away from the Ambatovy nickel mine after $2.6 billion in cumulative losses, with a Jersey-based consortium led by former Glencore nickel head Jason Kluk and South African investor Sandile Zungu taking over.
Donald Trump's Congo mining push is stalled over sanctioned billionaire Dan Gertler, whose royalties are blocking a $9 billion Glencore copper and cobalt deal.
Ernest Obiejesi's Nestoil owes Nigerian banks approximately N2.9 trillion ($2 billion) and the CBN has blocked dividends at UBA, Access Holdings and FCMB until the loans are fully provisioned.
Tony Elumelu calls on Nigeria's government to act on anti-migrant violence in South Africa, Abba Mangal emerges as the APC candidate for Katsina Central in a generational handover from his billionaire father Dahiru, and Atedo Peterside warns of a 2027 legitimacy crisis.
Uganda's motorsport community gathered on May 3 to honor Rajiv Ruparelia, son of billionaire Sudhir Ruparelia, one year after his death.
Leaked financial records partially support claims that Zanu PF held a hidden 45 percent stake in Kudakwashe Tagwirei's Sakunda Holdings.
Dangote Petroleum Refinery has recalled around 800 engineers previously redeployed following a labour union dispute, granting a conditional pardon.
Jay-Z's Armand de Brignac champagne brand is among the acquisitions under review as Moët Hennessy cuts jobs and confronts a deep strategic crisis.
Sawiris's London office closure marks the end of a quiet migration of African UHNW wealth to Italy, the UAE, and Switzerland after the UK abolished its non-dom regime in April 2025.
Moody's has surrendered its South African credit rating license after 32 years, leaving GCR — the pan-African agency Moody's itself fully owns — to fill the domestic gap as global ratings retreat from Africa.
Sandile Zungu and Jason Kluk take over Sumitomo's failed Madagascar nickel mine, Mahama's Damang Mine delivers its first gold to the Bank of Ghana, and Dangote denies an Elumelu rift.
South Africa's mining BEE program has created at least 46 billionaires, but their names and accumulated wealth remain hidden from public view.
Kenyan businesswoman Mary Wambui has sued Google in the High Court to remove search results about her Sh2.2 billion ($16.9 million) tax evasion case, which was dropped in January 2023.
Optasia debuted on the JSE in November 2025 as Sub-Saharan Africa's first major fintech IPO. Six months later, the operating story has compounded — but the founder is gone, FirstRand owns 26%, and a related-party deal is testing the listing's governance architecture.
