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Nigerian music star Burna Boy's No Sign of Weakness tour grosses $9 million
Burna Boy's No Sign of Weakness tour has grossed $9.09 million from 17 reported shows in North America and Oceania, according to Touring Data.
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Russian billionaire Andrey Melnichenko's seized €450m yacht leaves Trieste after costing Italy €40m
The world's largest sailing yacht, seized from Russian billionaire Andrey Melnichenko in 2022, is leaving Trieste for Ancona after costing Italy over €40 million.
Nigerian music star Burna Boy's No Sign of Weakness tour grosses $9 million
Burna Boy's No Sign of Weakness tour has grossed $9.09 million from 17 reported shows in North America and Oceania, according to Touring Data.
Zimbabwean billionaire Strive Masiyiwa's $720 million AI plan tested by Jensen Huang's exit
Jensen Huang's exit from Nvidia comes as Strive Masiyiwa's Cassava Technologies, Nvidia's main partner in Africa, rolls out a $720 million AI plan.
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Deep-Dive Report: The Long Freeze — Baba Danpullo, MTN Cameroon and the Four-Year Fight Over $239 Million of Mobile Money
A South African bank sold Baba Danpullo's property empire over a R520 million loan. He responded by freezing MTN Cameroon's money. This week the Supreme Court restored a $239 million freeze on mobile money funds. A deep-dive on how the case began, where it stands and what it means.
Investor Memo: The $200 Billion Question — Hisham Talaat Moustafa's TMG, Egypt's Four New Megaprojects, and Who Will Share the Proceeds
Talaat Moustafa Group has agreed four projects with Egypt's government worth about $200 billion, nearly 60 times its market value. Now the military reportedly wants a share. How the deals compare with Ras El Hekma, what TMG earns today and what shareholders should watch.
The Inside Story: The Tuk-Tuk Banker — How Mounir Nakhla Built MNT-Halan From Microloans and Motorbikes Into Egypt's Biggest Listing in Years
Mounir Nakhla started with loans for motorbikes and tuk-tuks, launched a ride-hailing app, then turned it into a lender. Last month MNT-Halan listed in Cairo with retail demand 43.6 times the shares on offer. The story of the tuk-tuk banker, and what its first results show.
Egyptian tycoon Hassan Allam's solar and battery plant wins $63.5 million EBRD package
The EBRD approved up to $63.5 million for a solar and battery plant near Aswan backed by the Hassan Allam group and Infinity Power.
Egyptian tycoon Medhat Khalil's Raya Holding lifts nine-month revenue 9.5% to $900 million
Raya Holding, the Cairo conglomerate chaired by Egyptian tycoon Medhat Khalil, lifted revenue 9.5% to EGP49.8 billion in the nine months to September.
Egyptian tycoon Salah Diab's Cheiron signs $42 million offshore gas deal
Cheiron, an oil and gas company in Egyptian tycoon Salah Diab's PICO Group, will drill three wells off Alexandria under a new deal with EGAS.
Egyptian billionaire Samih Sawiris's Orascom Development lifts nine-month profit to $85 million
Samih Sawiris's Orascom Development Egypt grew nine-month net profit 24% to EGP4.7 billion as revenue rose 35%, led by sales at its resort towns.
Egyptian billionaire Hisham Talaat Moustafa's $200 billion TMG deal draws military interest
Egypt's military is seeking a slice of the four megaprojects Talaat Moustafa Group agreed with the government in October, with the revenue split still unsettled.
Moroccan billionaire Anas Sefrioui's Addoha cleared to join Saudi housing projects
Anas Sefrioui's Addoha has won approval from Saudi Arabia's National Housing Co. to act as a partner developer in Riyadh residential projects.
Egyptian fintech tycoon Mounir Nakhla’s MNT-Halan more than doubles quarterly profit to $16 million in first results since IPO
Mounir Nakhla’s MNT-Halan more than doubled quarterly profit to EGP 836 million ($16 million) in its first results since listing on the Egyptian Exchange.
Moroccan wine tycoon Rita Zniber faces stepson's forgery complaint over $1.5 million debt
A decade after Brahim Zniber's death, a son from his first marriage is pressing a forgery complaint over debt notes his widow Rita relies on.
Nigerian music star D'banj's CREAM platform wins investment from Afreximbank's creative arm
Afreximbank's creative investment arm has bought an equity stake in CREAM, the platform Nigerian singer D'banj built to help African creators earn from their work.
Nigerian billionaire Aliko Dangote's $2.5 billion Namibia project faces local-ownership test
Namibia holds no disclosed stake in Aliko Dangote's $2.5 billion Walvis Bay fuel project, while a new bill would reserve fuel storage for Namibian-owned businesses.
Nigerian tycoon Thomas Etuh's telecom firm T2 stalls at 3.6 million subscribers
Burna Boy's No Sign of Weakness tour grossed about $6 million at 12 North American venues, with Toronto's two Scotiabank Arena shows leading the way.
Nigerian billionaire Aliko Dangote's refinery IPO draws $1 billion from pension funds
South Africa's Public Investment Corp. and Nigerian pension funds applied for about $1 billion of shares in Aliko Dangote's oil refinery IPO.
Nigerian billionaire Aliko Dangote's Dangote Cement lifts Congo sales 11.9% in nine months
Dangote Cement sold 790,200 tons of cement in Congo in the nine months through September, up 11.9%, as its market share climbed to 73%.
Nigerian billionaire Tunde Folawiyo's T1 Marine fights $1.2 million tax demand
T1 Marine Services, chaired by Nigerian tycoon Tunde Folawiyo, is disputing ₦1.65 billion in tax demands that date back to its 2014 to 2016 accounts.
Ghanaian tycoon Joseph Siaw Agyepong's Jospong to solar-charge 1,000 electric waste trucks
Ghanaian tycoon Joseph Siaw Agyepong's Jospong Group plans a solar-powered charging network for about 1,000 waste collection trucks it is converting to electric.
Nigerian billionaire Aliko Dangote's refinery IPO to be upsized to $2.08 billion
Aliko Dangote's refinery is set to sell 30% more shares than planned, lifting Africa's biggest IPO to $2.08 billion after a flood of bids.
Absa exits Kenyan insurance as wealthy politician Musalia Mudavadi’s firm takes full control of two insurers
Absa has completed its exit from Kenyan insurance, handing two insurers to a firm majority owned by wealthy politician Musalia Mudavadi, which will rebrand them.
Kenya's wealthy Kinuthia family sees Quickmart IPO oversubscribed with $142 million in bids
Investors bid Sh18.4 billion for Quickmart's Sh15 billion share sale, securing a $37 million payout for the Kinuthia family that founded the chain.
Kenyan billionaire Narendra Raval’s $539 million Kitui cement plant to create 4,000 jobs
Kenyan President William Ruto valued Narendra Raval’s Kitui cement plant at Sh70 billion ($539 million) and said it will create 4,000 jobs.
Sudanese-British billionaire Mo Ibrahim tells Zambia's president not to waste his first term
Mo Ibrahim told Zambia's Hakainde Hichilema not to waste his first-term progress, citing arrests, the death of a former MP and court closures.
Billionaires Narendra Raval, Edha Nahdi bet $600 million on clinker as Sarbjit Rai enters cement business
Narendra Raval's West Pokot plant and Edha Nahdi's Kwale project commit roughly Sh77 billion ($600m) to clinker, the input East Africa has always imported. Now Sarbjit Singh Rai has filed for a third plant in Nyeri.
President Paul Kagame says Rwanda wants a stake in Dangote's $16 billion Kenyan refinery
Rwanda's President Paul Kagame has confirmed his country is in early talks about taking a stake in Aliko Dangote's planned $16 billion Lamu oil refinery, saying Rwanda would be "very happy" to participate.
Aliko Dangote offers Kenya a $500 million stake in $20 billion Lamu refinery as September groundbreaking nears
Aliko Dangote has offered Kenya a $500 million stake in his planned $20 billion Lamu oil refinery, with groundbreaking now targeted for September as East African governments weigh their participation.
Madagascar's richest man Ylias Akbaraly attacks Elon Musk's layoffs in a new book
Madagascar's richest man Ylias Akbaraly criticises Elon Musk's mass layoffs in a new memoir, saying job cuts expose people to social death.
Zimbabwean billionaire Strive Masiyiwa's $720 million AI plan tested by Jensen Huang's exit
Jensen Huang's exit from Nvidia comes as Strive Masiyiwa's Cassava Technologies, Nvidia's main partner in Africa, rolls out a $720 million AI plan.
South African TV mogul Duma ka Ndlovu faces $1.6 million tax fraud trial
Prosecutors have refused to drop the R26 million tax fraud case against Muvhango creator Duma ka Ndlovu, sending the TV producer to trial next year.
Zimbabwean tycoon Kudakwashe Tagwirei puts $2.7 million into ruling party's Harare push
Fuel tycoon and cabinet minister Kudakwashe Tagwirei has made $2.7 million available for ruling-party empowerment projects in Harare, an opposition stronghold for two decades.
South African tycoon Michael Georgiou's old firm sells Johannesburg mall for $38 million
Accelerate Property Fund, built by Michael Georgiou, is giving up Cedar Square in Fourways after 13 years, selling the mall for R630 million.
South African billionaire Mark Shuttleworth wins approval for Cape Town botanical garden
Mark Shuttleworth's investment firm has won approval to turn eight properties it bought in a Cape Town suburb into a botanical garden and events venue.
South African billionaire Johann Rupert's son Anton tipped to lead Cartier owner Richemont
Anton Rupert, the 39-year-old son of Johann Rupert, has moved to the top of Richemont's board as the Cartier owner plans for succession.
South African billionaire Patrice Motsepe's nickel mine accused of shutting out locals
Communities near Patrice Motsepe's Nkomati nickel mine accuse it of hiring outsiders. The mine says it has kept only 48 staff since 2021.
South African billionaire Johann Rupert’s Richemont lifts half year profit 39% to €2.5 billion
Johann Rupert’s Richemont has reported a 39% increase in half year profit to €2.53 billion, driven by strong jewellery demand and growth across its luxury brands.
Billionaire Mohammed Al-Amoudi to build stadium for Ethiopia's most successful football club
MIDROC, owned by Saudi-Ethiopian billionaire Mohammed Al-Amoudi, will fund a new stadium for Saint George, as sponsors pledge more than $3.1 million a season.
Ethiopian billionaire Mohammed Al-Amoudi's Nyala Insurance tops $6 million in profit
Nyala Insurance, the Ethiopian insurer co-founded by billionaire Mohammed Al-Amoudi, says annual profit passed 1 billion birr as paid-up capital topped 2 billion birr.
Somali tycoon Abdirashid Duale's Dahabshiil to sell Chinese carmaker Chery's cars in Somalia
Dahabshiil Motors, the car arm of Abdirashid Duale's Dahabshiil Group, has signed a deal to become an authorized dealer for China's Chery in Somalia.
Billionaire Mohammed Al-Amoudi accused of funding al-Qaeda in secret Pentagon report
A classified 2002 Pentagon report names billionaire Mohammed Al-Amoudi in an alleged money trail to Osama bin Laden, Swedish broadcaster SVT reports. He denies it.
Ethiopian billionaire Mohammed Al-Amoudi's failed refinery cost Morocco $7 billion
Mohammed Al-Amoudi bought Morocco's only refinery for 4 billion dirhams in 1997. It shut in 2015 owing over $4 billion and has never reopened.
Billionaire Mohammed Al-Amoudi orders his conglomerate to hire 40,000 more Ethiopians
Mohammed Al-Amoudi has instructed MIDROC's chief executive to lift the workforce from about 80,000 to between 100,000 and 120,000 employees.
Tewodros Ashenafi is the man foreign companies use to get into Ethiopia
Tewodros Ashenafi was the local partner on Ethiopia's largest privatisation, a $1.4 billion tobacco deal, and co-owns Ambo with Coca-Cola.
Ethiopian billionaire Mohammed Al-Amoudi is rebuilding his gold business in a new region
MIDROC has ordered Austrian machinery for a plant treating 1.25 million tonnes of ore a year, eight years after Ethiopia suspended its main mine.
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American billionaire Jensen Huang and six Nvidia insiders lose $68 billion since October peak
Nvidia’s seven billionaires and former billionaires have lost about $68 billion since the October peak, as Jensen Huang’s exit pushed shares down 31%.
Hong Kong billionaire Li Ka-shing's CK Hutchison denies shelving $30bn Watsons listing
CK Hutchison, controlled by Hong Kong billionaire Li Ka-shing's family, denied reports that it has suspended plans to list health and beauty retailer AS Watson.
Russian billionaire Andrey Melnichenko's seized €450m yacht leaves Trieste after costing Italy €40m
The world's largest sailing yacht, seized from Russian billionaire Andrey Melnichenko in 2022, is leaving Trieste for Ancona after costing Italy over €40 million.
Nigerian music star Burna Boy's No Sign of Weakness tour grosses $9 million
Burna Boy's No Sign of Weakness tour has grossed $9.09 million from 17 reported shows in North America and Oceania, according to Touring Data.
Venezuelan oil tycoon Alejandro Betancourt's US-backed venture hits 223,000 barrels a day
Alejandro Betancourt, picked by Washington to expand Venezuela's oil output, says his venture now pumps 223,000 barrels a day and targets 1 million by 2033.
Zimbabwean billionaire Strive Masiyiwa's $720 million AI plan tested by Jensen Huang's exit
Jensen Huang's exit from Nvidia comes as Strive Masiyiwa's Cassava Technologies, Nvidia's main partner in Africa, rolls out a $720 million AI plan.
South African TV mogul Duma ka Ndlovu faces $1.6 million tax fraud trial
Prosecutors have refused to drop the R26 million tax fraud case against Muvhango creator Duma ka Ndlovu, sending the TV producer to trial next year.
Zimbabwean tycoon Kudakwashe Tagwirei puts $2.7 million into ruling party's Harare push
Fuel tycoon and cabinet minister Kudakwashe Tagwirei has made $2.7 million available for ruling-party empowerment projects in Harare, an opposition stronghold for two decades.
Egyptian tycoon Hassan Allam's solar and battery plant wins $63.5 million EBRD package
The EBRD approved up to $63.5 million for a solar and battery plant near Aswan backed by the Hassan Allam group and Infinity Power.
Egyptian tycoon Medhat Khalil's Raya Holding lifts nine-month revenue 9.5% to $900 million
Raya Holding, the Cairo conglomerate chaired by Egyptian tycoon Medhat Khalil, lifted revenue 9.5% to EGP49.8 billion in the nine months to September.
Egyptian tycoon Salah Diab's Cheiron signs $42 million offshore gas deal
Cheiron, an oil and gas company in Egyptian tycoon Salah Diab's PICO Group, will drill three wells off Alexandria under a new deal with EGAS.
South African billionaire Johann Rupert’s Richemont lifts half-year profit 42% to $2.8 billion
South African billionaire Johann Rupert’s Richemont lifted half-year headline earnings 42% to $2.8 billion, but shares fell on slower jewelry growth.
French billionaire François-Henri Pinault's family holding carries €26bn debt as Gucci slumps
The Pinault family's holding company carries about €26 billion of debt, much of it secured on Kering shares that lost value as Gucci slumped.
Kalshi eyes $65 billion valuation in new talks
Prediction market Kalshi is in talks to raise funds at a $65 billion valuation, up from $40 billion just two weeks ago.
American billionaire Steve Ballmer threatened to sue over Clippers story, Pablo Torre says
Pablo Torre, whose reporting led to Steve Ballmer's one-year NBA suspension, says the Clippers owner spent a year threatening to sue him.
BodyArmor billionaire Mike Repole agrees to buy control of Italy's Spezia
The Queens-born son of Italian immigrants, who sold two drinks brands to Coca-Cola, is taking control of a club leading its Serie C group.
