Featured
First HoldCo shareholders approve billionaire Femi Otedola's N1 trillion capital plan at today's AGM in Lagos
FirstHoldCo shareholders approved the N253 billion capital raise at today's 14th AGM, clearing the path for Femi Otedola's N1 trillion paid-up capital target for First Bank of Nigeria.
Editors' Picks
How South Africa's biggest banks enabled the Gupta corruption machine
South Africa's major banks and professional services firms provided services to Gupta-linked entities despite clear red flags, enabling state capture corruption documented as the worst in the country's democratic history.
First HoldCo shareholders approve billionaire Femi Otedola's N1 trillion capital plan at today's AGM in Lagos
FirstHoldCo shareholders approved the N253 billion capital raise at today's 14th AGM, clearing the path for Femi Otedola's N1 trillion paid-up capital target for First Bank of Nigeria.
Algeria's prosecutors demand 16 more years in prison for jailed auto mogul Mahieddine Tahkout over Swiss fortune
Algeria's prosecutors demanded a fresh 16-year prison sentence for jailed Cima Motors mogul Mahieddine Tahkout over €1.17 billion allegedly hidden in Swiss bank accounts and French property.
Exclusive Content For Paid Supporters
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.
Algeria's prosecutors demand 16 more years in prison for jailed auto mogul Mahieddine Tahkout over Swiss fortune
Algeria's prosecutors demanded a fresh 16-year prison sentence for jailed Cima Motors mogul Mahieddine Tahkout over €1.17 billion allegedly hidden in Swiss bank accounts and French property.
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.
First HoldCo shareholders approve billionaire Femi Otedola's N1 trillion capital plan at today's AGM in Lagos
FirstHoldCo shareholders approved the N253 billion capital raise at today's 14th AGM, clearing the path for Femi Otedola's N1 trillion paid-up capital target for First Bank of Nigeria.
Aliko Dangote's 17-billion dollar East African refinery advances as Ruto vows to build this year despite oil cartels
Kenya's Ruto has confirmed Aliko Dangote's $15-17 billion East African refinery will start construction this year, vowing to push ahead despite resistance from oil cartels.
How African billionaires Benedict Peters and Aliko Dangote became the biggest winners of the Hormuz crisis
Satellite images show Nigeria's Dangote refinery and Benedict Peters' Aiteo operation are the biggest beneficiaries of the Hormuz crisis, even as an oil theft mafia costs the country billions annually.
FirstHoldCo shareholders vote today on billionaire Femi Otedola's $725 million capital plan for First Bank
FirstHoldCo shareholders gather today for their 14th AGM to vote on raising N253 billion ($183.4 million) in fresh capital toward a N1 trillion ($724.6 million) paid-up base championed by Femi Otedola.
Ghana sets new terms for Gold Fields' $1 billion Tarkwa mine lease renewal as resource nationalism deepens
Ghana's Minerals Commission confirmed active talks with Gold Fields over the Tarkwa mine lease renewal, setting new conditions covering local value creation, technology transfer and community development.
Cameroon's richest man says South Africa's FNB liquidated R4 billion in his assets to recover R520 million
Cameroon's richest man Baba Ahmadou Danpullo says FNB seized and liquidated R4 billion in his South African assets to recover a R520 million loan, costing 800 workers their jobs.
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.
Kaushik Burman's Spiro buys UK engineering firm Coexlion to anchor its first African R&D hub in Nairobi
Kaushik Burman's Spiro, Africa's largest electric-motorcycle company, has acquired UK engineering firm Coexlion and will open its first African R&D center in Nairobi.
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.
How South Africa's biggest banks enabled the Gupta corruption machine
South Africa's major banks and professional services firms provided services to Gupta-linked entities despite clear red flags, enabling state capture corruption documented as the worst in the country's democratic history.
South Africa's Craig Warriner ran a Ponzi scheme for a decade and drove a Ferrari while it lasted
Craig Warriner defrauded over 800 South African investors of at least R1.64 billion through his BHI Trust over a decade, posing as an expert day trader while living lavishly on his clients' money.
Johann Rupert tripled Richemont's earnings in five years, but the stock is down 9%. Analysts say that is the opportunity
Johann Rupert's Richemont has tripled its earnings over five years and posted 11% sales growth in fiscal 2026, yet its Zurich-listed shares are down 9%, creating what analysts are calling a rare entry point.
South Africa's Human Rights Commission opens hate speech probe into Dis-Chem heir Mark Saltzman
South Africa's Human Rights Commission opened a hate speech investigation into Dis-Chem shareholder Mark Saltzman over posts on X containing the k-word and other racially inflammatory language.
South Africa's wealthy Rupert family is set to collect a record $277 million from Richemont's biggest ever dividend
The Rupert family stands to collect approximately $277 million from Richemont's proposed record CHF 4.30 per share dividend, the largest in the luxury group's history, pending September 2026 AGM approval.
Billionaire Strive Masiyiwa's Cassava Technologies backs new African AI foundation
Strive Masiyiwa's Cassava Technologies has backed a new Kigali foundation to provide compute grants and skills training for African AI builders.
Elon Musk was paid $132.3 billion in 2025. The typical S&P 500 CEO got $17.7 million. The gap is breathtaking
Elon Musk received a $132.3 billion Tesla stock award in 2025, dwarfing the next-largest package by a factor of 160, as average S&P 500 CEO compensation rose 6% to $17.7 million while median worker pay reached $89,744.
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
How South Africa's biggest banks enabled the Gupta corruption machine
South Africa's major banks and professional services firms provided services to Gupta-linked entities despite clear red flags, enabling state capture corruption documented as the worst in the country's democratic history.
South Africa's Craig Warriner ran a Ponzi scheme for a decade and drove a Ferrari while it lasted
Craig Warriner defrauded over 800 South African investors of at least R1.64 billion through his BHI Trust over a decade, posing as an expert day trader while living lavishly on his clients' money.
First HoldCo shareholders approve billionaire Femi Otedola's N1 trillion capital plan at today's AGM in Lagos
FirstHoldCo shareholders approved the N253 billion capital raise at today's 14th AGM, clearing the path for Femi Otedola's N1 trillion paid-up capital target for First Bank of Nigeria.
Algeria's prosecutors demand 16 more years in prison for jailed auto mogul Mahieddine Tahkout over Swiss fortune
Algeria's prosecutors demanded a fresh 16-year prison sentence for jailed Cima Motors mogul Mahieddine Tahkout over €1.17 billion allegedly hidden in Swiss bank accounts and French property.
Johann Rupert tripled Richemont's earnings in five years, but the stock is down 9%. Analysts say that is the opportunity
Johann Rupert's Richemont has tripled its earnings over five years and posted 11% sales growth in fiscal 2026, yet its Zurich-listed shares are down 9%, creating what analysts are calling a rare entry point.
Robert F. Smith's Vista Equity wins as Delaware court dismisses $4.6 billion KnowBe4 lawsuit
Delaware's Chancery Court dismissed a stockholder challenge to Robert F. Smith's Vista Equity over its $4.6 billion take-private of cybersecurity firm KnowBe4.
Aliko Dangote's 17-billion dollar East African refinery advances as Ruto vows to build this year despite oil cartels
Kenya's Ruto has confirmed Aliko Dangote's $15-17 billion East African refinery will start construction this year, vowing to push ahead despite resistance from oil cartels.
African Wealth Briefing — Fri., May 29, 2026
The Rupert family is set for a record $277 million Richemont dividend. Burkina Faso's Inoussa Kanazoe seizes gold mines as foreign firms exit under Traore. Plus: Cassava backs Kigali AI.
How African billionaires Benedict Peters and Aliko Dangote became the biggest winners of the Hormuz crisis
Satellite images show Nigeria's Dangote refinery and Benedict Peters' Aiteo operation are the biggest beneficiaries of the Hormuz crisis, even as an oil theft mafia costs the country billions annually.
FirstHoldCo shareholders vote today on billionaire Femi Otedola's $725 million capital plan for First Bank
FirstHoldCo shareholders gather today for their 14th AGM to vote on raising N253 billion ($183.4 million) in fresh capital toward a N1 trillion ($724.6 million) paid-up base championed by Femi Otedola.
Ghana sets new terms for Gold Fields' $1 billion Tarkwa mine lease renewal as resource nationalism deepens
Ghana's Minerals Commission confirmed active talks with Gold Fields over the Tarkwa mine lease renewal, setting new conditions covering local value creation, technology transfer and community development.
South Africa's Human Rights Commission opens hate speech probe into Dis-Chem heir Mark Saltzman
South Africa's Human Rights Commission opened a hate speech investigation into Dis-Chem shareholder Mark Saltzman over posts on X containing the k-word and other racially inflammatory language.
How South Africa's private banks handed wealthy clients rope to hang themselves with Steinhoff margin loans
Private banks across South Africa offered margin loans against Steinhoff shares that triggered catastrophic calls when the stock collapsed 98% in December 2017, wiping out entire high-net-worth client portfolios.
South Africa's wealthy Rupert family is set to collect a record $277 million from Richemont's biggest ever dividend
The Rupert family stands to collect approximately $277 million from Richemont's proposed record CHF 4.30 per share dividend, the largest in the luxury group's history, pending September 2026 AGM approval.
Ghana's AG sues business tycoon Joseph Siaw Agyepong over $2 million gap in a $178 million contract
Ghana's AG sued Jospong founder Siaw Agyepong and his firm Plantpool over $2 million in alleged overpayments on a $178 million road contract.
