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Billionaire Johann Rupert's Reinet just turned a €22 million gold ETF bet into €80 million
The Rupert family's Reinet investment vehicle has turned a €22 million gold ETF stake bought in 2015 into an €80 million position as gold prices surge.
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Egyptian billionaire Naguib Sawiris calls for Egypt's state TV to be shut down
Egyptian billionaire Naguib Sawiris has ignited a fierce national debate after publicly calling for Egypt's state television channels to be closed over billions in annual losses.
Global millionaire wealth hit a record $98.3 trillion in 2025 and Africa grew faster than the Middle East
Global wealth held by millionaires hit a record $98.3 trillion in 2025 according to Capgemini's World Wealth Report 2026, with Africa posting 4.1 percent population growth.
Africa's richest man's refinery ramps up to 700,000 barrels a day
Dangote Petroleum Refinery has exceeded its nameplate capacity for the first time, processing 700,000 barrels per day in an official test by its process licensors.
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Fresh speculation surrounds Patrice Motsepe's leadership of the Confederation of African Football, with growing talk that the South African billionaire may leave the CAF presidency before his term ends in 2029.
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At 93, Othman Benjelloun still holds both the chairman and chief-executive titles at Bank of Africa, still chairs the strategy committee, and by all accounts intends to keep going.
The Inside Story: The $100 Million Handshake
On May 20, two men who have been friends for 25 years stood on the same refinery jetty. One is preparing to sell a slice of the future. The other is buying in.
Egyptian billionaire Naguib Sawiris calls for Egypt's state TV to be shut down
Egyptian billionaire Naguib Sawiris has ignited a fierce national debate after publicly calling for Egypt's state television channels to be closed over billions in annual losses.
Algeria's jailed auto billionaire Mahieddine Tahkout gets 10 more years and loses everything he owns
Algeria's financial crimes tribunal has sentenced jailed tycoon Mahieddine Tahkout to 10 years in prison and ordered the confiscation of all his assets worldwide.
Morocco's palace is quietly planning for life after billionaire Othman Benjelloun at Bank of Africa
Othman Benjelloun built Morocco's Bank of Africa into a 32-country pan-African giant. At 93, the question of who leads it next is no longer avoidable.
More than 200 Mohamed Al Fayed survivors will meet Keir Starmer today. Some are already tempering their expectations
More than 200 survivors of Mohamed Al Fayed's alleged sexual abuse are meeting UK Prime Minister Keir Starmer on June 3 in what groups describe as the first time a sitting prime minister has engaged directly with survivors tied to a single institution.
Harrods goes to court to replace executors of Mohamed Al Fayed's estate over solvency fears
Harrods has launched legal action to replace the executors of Mohamed Al Fayed's estate, citing solvency concerns and fears that abuse victims will not be compensated.
Egyptian billionaire Hisham Talaat Moustafa's TMG wins Iraqi investment licence for $18.8 billion Baghdad mega-city project
Egypt's Talaat Moustafa Group has secured a formal Iraqi investment licence to develop an $18.8 billion integrated city in southwest Baghdad.
Egyptian tycoon Safwan Thabet's Juhayna Food doubles first-quarter profit to $13.6 million on surging sales
Egypt's Juhayna Food Industries more than doubled its first-quarter net profit in 2026 as revenue climbed sharply across dairy and juice segments.
Mohamed Al-Fayed's abuse survivors temper expectations ahead of their first meeting with UK PM Starmer
Survivors of Mohamed Al Fayed's abuse are preparing to meet UK Prime Minister Keir Starmer while tempering expectations, as the Met Police investigation now involves 154 complainants and four suspects.
Africa's richest man spent $20 million trying to fix Nigeria's tomato problem and the country let him down
Aliko Dangote invested $20 million in Nigeria's largest tomato processing factory in 2016. A decade later, the country's broken supply chain has defeated his ambition.
Africa's richest man's refinery ramps up to 700,000 barrels a day
Dangote Petroleum Refinery has exceeded its nameplate capacity for the first time, processing 700,000 barrels per day in an official test by its process licensors.
Africa's richest man built Nigeria's Peugeot assembly plant from scratch and it now rolls out 120 cars a day
Africa's richest man Aliko Dangote acquired a Peugeot assembly licence in 2017 and built a modern car factory in Kaduna that began production in 2022.
Cameroon Media mogul Amougou Belinga goes on trial for the murder of a journalist he wanted silenced
Cameroonian media mogul Jean-Pierre Amougou Belinga is facing trial for allegedly ordering the kidnapping and murder of radio journalist Martinez Zogo in January 2023.
Cameroonian heirs Gilbert and Nicole Kadji are pushing their late father's $205 million beverage empire into West Africa
Seven years after their father's death, Gilbert and Nicole Kadji are expanding Cameroon's Kadji Group into West Africa with a bold new canned beverage push.
Access Holdings, led by Aigboje Aig-Imoukhuede, lands $500 million IFC facility to scale local currency lending
Access Holdings has secured a $500 million International Finance Corporation deal to boost local currency financing across its banking network spanning more than 20 African countries.
Congolese billionaire Paul Obambi wants a century-old price tool back to fix Brazzaville's market chaos
Brazzaville Chamber of Commerce president Paul Obambi is demanding the revival of a century-old price reference tool to end market speculation in Congo.
Ghanaian Civil society backs tycoon Ibrahim Mahama's Damang mine takeover as legal and governance questions mount
A Ghanaian civil society group has backed Ibrahim Mahama's Engineers and Planners over the Damang Mine takeover as governance questions and a legal battle continue to escalate.
Ronald Karauri's SportPesa paid $14.7 million for football rights. He's now suing 20 companies for using it wrong
Ronald Karauri's SportPesa has sued 20 companies including ESPN, Sofascore and Betway for broadcasting FKF Premier League data without recognizing the SportPesa Premier League branding secured under a $14.7 million deal.
Kenya's wealthy Kenyatta and Ndegwa families stand to pocket $170 million from the Nedbank NCBA takeover
Kenya's powerful Kenyatta and Ndegwa families stand to receive over $170 million in combined cash and stock from the Nedbank takeover of NCBA Group.
Kenya's Moi family business empire is under strain as relations with President Ruto sour again
Gideon Moi's family business empire is under renewed pressure as a short-lived political rapprochement with President William Ruto shows signs of breaking down.
Kenyan billionaire Humphrey Kariuki takes Africa's Great Blue Wall push to Monaco
Kenyan billionaire Humphrey Kariuki used a major Monaco ocean forum to call for scaled investment in Africa's Great Blue Wall marine conservation initiative.
Kenyan billionaire Mohamed Jaffer just locked up Mombasa's grain monopoly for another 20 years
Kenya tycoon Mohamed Jaffer has secured a 20-year lease renewal at the Port of Mombasa, extending his monopoly grip on bulk grain imports into East Africa.
James Mwangi's Equity Group signs landmark ITC deal to unlock trade finance for East Africa's coffee, leather and creative sectors
Equity Group and the International Trade Centre have signed a partnership to unlock trade finance for East African small businesses in coffee, leather and creative industries.
Uganda's Quality Chemical posts record $15.3 million profit as new manufacturing plant takes shape
Uganda's Quality Chemical Industries has posted record full-year earnings of Shs 56.4 billion as the pharmaceutical manufacturer accelerates a major capacity expansion.
Kenyan advertising mogul Bharat Thakrar takes his WPP Scangroup board battle to shareholders at June 8 AGM
Scangroup founder Bharat Thakrar is heading into a shareholder showdown on June 8 to remove the entire board of WPP Scangroup over five years of losses.
Bertina Engelbrecht's Clicks Group has lost $1.2 billion and the outlook is getting worse
Clicks Group has lost R19.7 billion in market value in five months after a brutal interim outlook rattled investors.
Billionaire Johann Rupert's Reinet just turned a €22 million gold ETF bet into €80 million
The Rupert family's Reinet investment vehicle has turned a €22 million gold ETF stake bought in 2015 into an €80 million position as gold prices surge.
South African tycoon Johnny Copelyn's HCI is betting its free cash on Namibian oil and gas
Hosken Consolidated Investments has gained 25 percent in the past year and CEO Johnny Copelyn is directing most of its free cash into oil and gas exploration.
Tycoon Anna Mokgokong's Tamasa signs $1.35 billion LNG deal to transform the Eastern Cape's energy landscape
Professor Anna Mokgokong's Tamasa Energy Group has signed a $1.35 billion LNG terminal agreement with Transnet at the Port of Ngqura in South Africa's Eastern Cape.
Katlego Maphai's Yoco acquires AI startup Dyner to build smarter tools for 200,000 small businesses
South African payments fintech Yoco has made its first known acquisition, buying AI startup Dyner.ai to build smarter tools for independent businesses.
Newmont CEO Natascha Viljoen sells $409,000 in shares as gold stock trades near all-time highs
Newmont Corporation CEO Natascha Viljoen sold 3,882 shares worth $409,000 on June 1 under a prearranged trading plan as gold stock trades near record highs.
Billionaire Patrice Motsepe may quit CAF to chase South Africa's presidency and football is watching nervously
Fresh uncertainty surrounds Patrice Motsepe's leadership of CAF as speculation grows that the South African billionaire may exit the presidency ahead of his 2029 mandate.
Zimbabwean tycoon Kudakwashe Tagwirei named as alleged $31 million bribery fund financier
Retired Zimbabwean generals have warned President Mnangagwa against a third term bid and named billionaire Kudakwashe Tagwirei as the alleged source of a $31 million fund to bribe MPs.
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.
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Ronald Karauri's SportPesa paid $14.7 million for football rights. He's now suing 20 companies for using it wrong
Ronald Karauri's SportPesa has sued 20 companies including ESPN, Sofascore and Betway for broadcasting FKF Premier League data without recognizing the SportPesa Premier League branding secured under a $14.7 million deal.
America's 2nd richest Black woman took a $400 million divorce check and built a $1.3 billion empire
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Bertina Engelbrecht's Clicks Group has lost $1.2 billion and the outlook is getting worse
Clicks Group has lost R19.7 billion in market value in five months after a brutal interim outlook rattled investors.
Billionaire Johann Rupert's Reinet just turned a €22 million gold ETF bet into €80 million
The Rupert family's Reinet investment vehicle has turned a €22 million gold ETF stake bought in 2015 into an €80 million position as gold prices surge.
Jamie Dimon is personally selling the SpaceX IPO to 2,500 wealthy clients at 90 locations across America
JPMorgan CEO Jamie Dimon is personally pitching the SpaceX IPO to more than 2,500 wealthy clients at 90 bank locations across 26 US states.
Egyptian billionaire Naguib Sawiris calls for Egypt's state TV to be shut down
Egyptian billionaire Naguib Sawiris has ignited a fierce national debate after publicly calling for Egypt's state television channels to be closed over billions in annual losses.
Global millionaire wealth hit a record $98.3 trillion in 2025 and Africa grew faster than the Middle East
Global wealth held by millionaires hit a record $98.3 trillion in 2025 according to Capgemini's World Wealth Report 2026, with Africa posting 4.1 percent population growth.
Africa's richest man spent $20 million trying to fix Nigeria's tomato problem and the country let him down
Aliko Dangote invested $20 million in Nigeria's largest tomato processing factory in 2016. A decade later, the country's broken supply chain has defeated his ambition.
African Wealth Briefing — Fri., June 5, 2026
Anna Mokgokong signs a $1.35 billion LNG deal at the Port of Ngqura. Dangote's refinery pushes past its own nameplate to 700,000 barrels a day.
Africa's richest man's refinery ramps up to 700,000 barrels a day
Dangote Petroleum Refinery has exceeded its nameplate capacity for the first time, processing 700,000 barrels per day in an official test by its process licensors.
South African tycoon Johnny Copelyn's HCI is betting its free cash on Namibian oil and gas
Hosken Consolidated Investments has gained 25 percent in the past year and CEO Johnny Copelyn is directing most of its free cash into oil and gas exploration.
