East Africa's first billionaire hands over multi-million-dollar faculty complex in Uganda
The project, delivered by Vcon Construction, the construction arm of the Ruparelia Group, was reportedly completed in just under two years.
Tanzanian businessman Said Bakhresa plans $500 million factory expansion
The move is aimed at boosting production and reinforcing the company’s leadership in the regional market.
Egyptian businesswoman Hend El-Sherbini expands IDH with $8 million CAIRO RAY acquisition
IDH moves deeper into radiology with $8 million CAIRO RAY deal.
Larry Ellison’s Oracle opens research and development center in Morocco
Oracle launches a seven-floor research center in Casablanca to drive AI and cloud innovation across Africa
How Palantir's CEO Alex Karp quietly became America’s richest Black billionaire
In May, he sold $50 million worth of Palantir stock, a small portion of his holdings, but a sign of how liquid his wealth has become.
South African billionaire Christo Wiese’s Brait plans to sell UK retailer
The move is part of a broader effort to simplify its portfolio, repay debt, and return capital to shareholders.
Burkinabe tycoon Idrissa Nassa’s Coris Bank launches operation in Central Africa
The new subsidiary, Coris Bank International Chad, takes over from Société Générale Chad following the completion of its acquisition on Feb. 31, 2024.
Africa’s richest man Aliko Dangote to export Nigeria’s first gasoline cargo to Asia
A 90,000-metric-ton cargo of gasoline is scheduled to leave the refinery for Asia, marking the first time fuel from the Lagos-based facility will be sold outside the region.
Egyptian property billionaire Hisham Talaat Moustafa loses $78.5 million
TMG stock slumps 7%, wiping $78 million from Hisham Talaat Moustafa’s holdings amid Egypt’s cooling real estate sector.
150 Nigerian workers sacked after protest at firm owned by billionaire with political ties
The layoffs followed a protest at one of the company’s construction sites in Lagos, where workers stopped work and marched to demand better conditions.
Egyptian businessman Hani Berzi loses $4 million as Edita shares fall
The decline marks another blow for Berzi, who chairs the Cairo-based snack maker and owns a 44.07-percent controlling stake.
Hassanein Hiridjee’s AXIAN Telecom sees promise in Africa’s digital economy with $35 million Jumia stake
With Jumia’s market capitalization approaching $400 million, AXIAN’s growing interest underscores its faith in the platform’s renewed business focus.
South African billionaire Christo Wiese’s Shoprite stake falls below $1 billion
This reflects renewed pressure on South African retail stocks as investor confidence continues to waver on the Johannesburg Stock Exchange (JSE).
Eswatini’s richest man Natie Kirsh loses $300 million
Natie Kirsh’s fortune drops by $300 million, trimming his 2025 year-to-date gains to $774 million after a recent two-month surge.
Patrice Motsepe’s ARM hedges part of $1.1 billion Harmony Gold stake
Although ARM remains a committed long-term investor in Harmony Gold, the company has taken steps to improve liquidity.
South African real estate mogul Michael Georgiou’s firm enters business rescue
Court questions UK capital promise; billions owed to banks.