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Nigerian billionaire Aliko Dangote crosses $50 billion on the Forbes list
Forbes has revalued Aliko Dangote above $50 billion, adding about $20 billion, after the July private placement repriced his refinery.
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Nigerian billionaire Aliko Dangote crosses $50 billion on the Forbes list
Forbes has revalued Aliko Dangote above $50 billion, adding about $20 billion, after the July private placement repriced his refinery.
Second crypto billionaire donates $49 million to Reform UK
Thailand-based investor Christopher Harborne gave Reform UK $48.7 million, matching a donation from fellow billionaire Ben Delo a day earlier.
Billionaire Masayoshi Son borrows $11.87 billion more for his OpenAI bet
SoftBank secured an $11.87 billion two-year loan from about 20 banks, exceeding its $10 billion target, to fund its OpenAI investment.
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The Inside Story: Petrol, Noodles and Tricycles — How Uche Ogah Quit a Zenith Bank Corner Office to Build a Sell-Everything Nigerian Empire
Uche Ogah registered his own oil company while still an assistant general manager at Zenith Bank, then quit to build Masters Energy — fuel, noodles, tricycles, gas, plastics. The story of a banker who bet on selling everything to everyone, and then ran for office.
Deep-Dive Report: The $100 Million Club — The 17 Investors Who Own $37.7 Billion of the Nigerian Exchange, and Why Two Men Hold Three-Quarters of It
Just 17 investors hold $37.7 billion of Nigerian-listed shares — and two men, Abdulsamad Rabiu and Aliko Dangote, own three-quarters of it. Inside the NGX's $100 Million Club, the concentration behind it, and why the biggest paper fortunes are also the most fragile.
Investor Memo: The American Bet — How Washington's $100 Million Loan to Ziad Dalloul's Africell Makes One Telecom the Front Line Against Huawei in Africa
Washington is lending nearly $100 million to Ziad Dalloul's Africell — Africa's only American-owned telecom — to buy US kit instead of Huawei's. A deal that turns one operator into the front line of the US-China contest for Africa's networks. The memo on what it means.
Egypt's billionaire Elsewedy family bets $700 million on energy services
Egypt's El Sewedy family has announced about $700 million of investment as Elsewedy Electric pushes from cables into power services.
Moroccan billionaire Moulay Hafid Elalamy now holds 12.5% of Teleperformance
Moulay Hafid Elalamy has closed the €355 million derivative he used to build a stake in Teleperformance, and holds about 12.5% of the CAC 40 group.
Billionaire Naguib Sawiris's son backs $50 million platform to buy Egypt's heritage brands
Onsi Naguib Sawiris has put money behind a new vehicle buying culture-rooted Egyptian brands. Creative Investments Holding has secured $20 million at first close toward a $50 million target, with an Egyptian state SME agency sitting on the same cap table.
Egyptian tycoon Medhat Mohamed Khalil abandons sale of Raya Foods to Helios
Medhat Khalil's Raya Holding cancelled the sale of Raya Foods to Helios after conditions went unmet, eight months after board approval.
Egyptian shipping tycoon Ahmed Tarek Khalil sells his entire Ajwa stake for $6 million
Ahmed Tarek Khalil sold 8.34% of Ajwa for Food Industries Egypt for EGP 301.65 million, about $6 million, exiting the edible oils maker entirely.
Billionaire Naguib Sawiris wants to run some of Egypt's airports
Orascom Investment is forming a consortium with a global airport operator to bid for some of the 11 Egyptian airports going to private hands.
Egyptian billionaire Samih Sawiris is spending €200 million on a resort Morocco never finished
Samih Sawiris wants to recreate El Gouna on Morocco's Atlantic coast, starting with 800 rooms in a €200 million first phase at Mogador-Essaouira.
Egyptian healthcare tycoon Hend El Sherbini borrows $60 million to take her company private
Riyada Managers lent Hena Holdings $60 million to fund the buyout of Integrated Diagnostics, the lab group Hend El Sherbini's mother founded.
Nigerian billionaire Aliko Dangote crosses $50 billion on the Forbes list
Forbes has revalued Aliko Dangote above $50 billion, adding about $20 billion, after the July private placement repriced his refinery.
Billionaire Aliko Dangote says refinery could pursue U.S. secondary listing
Billionaire Aliko Dangote says his refinery could pursue a U.S. secondary listing in about three to four years after establishing a public trading record in Nigeria.
Nigerian billionaire Aliko Dangote opens Africa's biggest share sale at a $49 billion valuation
The Dangote refinery IPO opened on Sept. 14, offering 4.1 billion shares at N525 to raise $1.63 billion. Trading begins on the NGX in November.
Lebanese telecoms tycoon Ziad Dalloul's Africell gets $100 million from Washington to counter Huawei in Africa
The US Export-Import Bank will lend nearly $100 million to Africell, the only American-owned mobile operator in Africa, to buy US equipment.
Bamanga Tukur, who ran Nigeria's ports then built a shipping business, dies at 90
Bamanga Tukur ran the Nigerian Ports Authority from 1975 to 1982 and registered a shipping agency while in office. He died on Saturday at 90.
The $100 Million Investor Club on the Nigerian Exchange: All 17 Members and What They Own
Seventeen investors held Nigerian Stock Exchange shares worth at least $100 million at Friday's close. Here is every stake they own and what each is worth.
Nigerian tycoon Uche Ogah quit banking to build an empire selling petrol, noodles and tricycles
Uche Ogah registered Masters Energy while still a Zenith Bank manager. It now runs 50 filling stations, two depots and a 198-hectare estate.
Billionaire Aliko Dangote goes to China to build a shipping fleet from scratch
Dangote Group will order vessels from Chinese shipyards, with first deliveries as early as 2029, as refinery expansion drives cargo demand.
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.
Esther Koimett becomes Middle East Bank Kenya's largest shareholder after inheriting Nicholas Biwott's stake
Esther Koimett, daughter of the late Kenyan billionaire and cabinet minister Nicholas Biwott, has emerged as Middle East Bank Kenya's largest individual shareholder with a 17.48% stake.
Aliko Dangote plans $17 billion refinery on Kenya's Lamu Island to end East Africa's fuel imports
Africa's richest man Aliko Dangote has selected Kenya's Lamu Island as the site for a $17 billion refinery that would transform East Africa's fuel supply.
High Court clears the way to distribute Simeon Nyachae's estate
A Kenyan court has dismissed a challenge by Simeon Nyachae's son, clearing the way to distribute the late politician's sprawling estate and business empire
Billionaire Patrice Motsepe's Kropz to cut staff at $160m phosphate mine
Patrice Motsepe has put about $160 million into a phosphate mine outside Cape Town since 2018. It never reliably produced. Now Kropz is cutting its own staff, letting the mining contract lapse, and mothballing most of the plant.
South African tycoon Sello Moloko went from teaching maths to a multi-million-dollar investment group
Sello Moloko taught school on R180 a month before building Thesele Group into an investment company spanning finance, cars, water and power.
South African billionaire Sandile Zungu loses the SAFA presidency by 157 votes to 82
Sandile Zungu lost the South African Football Association presidency to Danny Jordaan at the elective congress in Midrand on Saturday.
South African tycoon Don Ncube was Anglo's first black director and now drills for gas
Don Ncube holds 16.35% of Kinetiko Energy, a stake worth about $6.9 million, built from licences the South African state had no form to issue.
South African billionaire Johann Rupert's Remgro expects earnings to rise as much as 47%
Remgro, chaired by South Africa's Johann Rupert, expects headline earnings per share to rise between 37% and 47% for the year to June.
Zambia presses Indian billionaire Anil Agarwal's Vedanta to fund power for its copper mine
Zambia's president has urged Anil Agarwal's Vedanta to accelerate power investment to support its copper expansion at Konkola Copper Mines.
Mary Vilakazi takes FirstRand out of Britain after £548 million hit
FirstRand has classified its entire UK business as held for sale and taken a £547.8 million charge for motor finance redress. Group profit fell for the first time in six years, though the South African operations that remain grew earnings 13 percent.
South African tycoon Stephen Saad's Aspen pulls out of making the HIV prevention shot
Aspen has withdrawn from South Africa's plan to make Gilead's HIV prevention injection locally, with Stephen Saad citing the absence of purchase guarantees.
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.
Morocco rejects plan to nationalise Ethiopian billionaire Mohammed Al-Amoudi's collapsed SAMIR refinery
Morocco's upper house has rejected a bid to nationalise the SAMIR refinery, the shuttered facility once owned by billionaire Mohammed Al-Amoudi that collapsed under $4 billion in debt.
Saudi-Ethiopian billionaire Mohammed Al Amoudi's MIDROC secures $80 million for Sheraton Addis upgrade
Mohammed Al-Amoudi's MIDROC Ethiopia has signed an $80 million IFC loan to refurbish the Sheraton Addis and build a second Sheraton hotel in Addis Ababa.
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.
Latest Posts
Nigerian billionaire Aliko Dangote crosses $50 billion on the Forbes list
Forbes has revalued Aliko Dangote above $50 billion, adding about $20 billion, after the July private placement repriced his refinery.
Billionaire Patrice Motsepe's Kropz to cut staff at $160m phosphate mine
Patrice Motsepe has put about $160 million into a phosphate mine outside Cape Town since 2018. It never reliably produced. Now Kropz is cutting its own staff, letting the mining contract lapse, and mothballing most of the plant.
Indonesia's billionaire Hartono family moves $1.4 billion offshore
Nine entities in Singapore and London tied to the Hartono family have invested at least $1.4 billion abroad since late 2023, Bloomberg reports.
Billionaire Aliko Dangote says refinery could pursue U.S. secondary listing
Billionaire Aliko Dangote says his refinery could pursue a U.S. secondary listing in about three to four years after establishing a public trading record in Nigeria.
Michael Dell's family office buys Baldwin Insurance for $7.7bn
Michael Dell made $107 billion this year on AI servers. He is now spending some of it on an insurance broker, bought alongside an AI holding company, at an 88 per cent premium, and taken off the public market entirely.
Billionaire Bernard Arnault has lost $65bn this year, more than anyone
Bernard Arnault's fortune has fallen by $65 billion since January, the steepest decline among the world's 500 wealthiest. LVMH shares trade at less than half their 2023 level, and for the first time since 2012 every one of the ten richest people is American.
France asks the EU to lift sanctions on Russian billionaire Alisher Usmanov
France has joined Slovakia in asking the EU to remove Alisher Usmanov from its sanctions list, days before the measures expire on Sept. 15.
Second crypto billionaire donates $49 million to Reform UK
Thailand-based investor Christopher Harborne gave Reform UK $48.7 million, matching a donation from fellow billionaire Ben Delo a day earlier.
Billionaire Masayoshi Son borrows $11.87 billion more for his OpenAI bet
SoftBank secured an $11.87 billion two-year loan from about 20 banks, exceeding its $10 billion target, to fund its OpenAI investment.
South African tycoon Sello Moloko went from teaching maths to a multi-million-dollar investment group
Sello Moloko taught school on R180 a month before building Thesele Group into an investment company spanning finance, cars, water and power.
Nigerian billionaire Aliko Dangote opens Africa's biggest share sale at a $49 billion valuation
The Dangote refinery IPO opened on Sept. 14, offering 4.1 billion shares at N525 to raise $1.63 billion. Trading begins on the NGX in November.
African Wealth Briefing — Mon., Sept. 14, 2026
Africa's largest-ever IPO opens today: Dangote's refinery begins selling ₦2.15 trillion of shares to a target of 10 million Nigerians.
The Inside Story: Petrol, Noodles and Tricycles — How Uche Ogah Quit a Zenith Bank Corner Office to Build a Sell-Everything Nigerian Empire
Uche Ogah registered his own oil company while still an assistant general manager at Zenith Bank, then quit to build Masters Energy — fuel, noodles, tricycles, gas, plastics. The story of a banker who bet on selling everything to everyone, and then ran for office.
Deep-Dive Report: The $100 Million Club — The 17 Investors Who Own $37.7 Billion of the Nigerian Exchange, and Why Two Men Hold Three-Quarters of It
Just 17 investors hold $37.7 billion of Nigerian-listed shares — and two men, Abdulsamad Rabiu and Aliko Dangote, own three-quarters of it. Inside the NGX's $100 Million Club, the concentration behind it, and why the biggest paper fortunes are also the most fragile.
Investor Memo: The American Bet — How Washington's $100 Million Loan to Ziad Dalloul's Africell Makes One Telecom the Front Line Against Huawei in Africa
Washington is lending nearly $100 million to Ziad Dalloul's Africell — Africa's only American-owned telecom — to buy US kit instead of Huawei's. A deal that turns one operator into the front line of the US-China contest for Africa's networks. The memo on what it means.
Tanzanian billionaire Edha Nahdi gives $35 million to build 10 hospitals in Kenya
Amsons Group broke ground on the first of 10 mother and baby hospitals it is funding across Kenya with a $35 million grant, Ruto announced.
