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Billionaire Femi Otedola spends $160 million again on First HoldCo shares, lifting stake to $1.07 billion
Femi Otedola has spent another $160 million, on 1.78 billion additional First HoldCo shares, lifting his stake to $1.08 billion.
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Pepkor's CEO Pieter Erasmus will hold a $169 million stake in the fintech he oversees
Pepkor CEO Pieter Erasmus will hold an indirect 13.2% of the $1.28 billion fintech his company is creating, a stake worth about $169 million.
Billionaires Tony Elumelu, Samuel Dossou-Aworet and Austin Avuru to pocket $30 million Seplat dividend
Seplat's 12-cent dividend delivers $14.4 million to Tony Elumelu's Heirs, $9.7 million to Petrolin and $6 million to Austin Avuru. GHOST
Billionaire Femi Otedola spends $160 million again on First HoldCo shares, lifting stake to $1.07 billion
Femi Otedola has spent another $160 million, on 1.78 billion additional First HoldCo shares, lifting his stake to $1.08 billion.
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In the early 1990s a French engineer bought an ageing Gabonese oil field that Amoco had written off. That single unwanted reservoir became the model for an $11.4 billion fortune built almost entirely on the barrels the majors abandoned across Africa.
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Two Kenyan businessmen spent six years and a maze of holding companies fighting to control SportPesa. This week, filings showed an untraceable firm in the United Arab Emirates now holds 54% of the operator.
Wealth Intelligence: The Molecule and the Map
Merck handed Aspen the right to make a once-monthly HIV pill across 129 countries. It is the second pharma prize Africa's largest drugmaker has landed this month.
Egyptian tycoon Hend El Sherbini takes majority control of IDH despite board rejection
Hend El Sherbini's offer for Integrated Diagnostics has gone unconditional at 56.6%, days after independent directors told shareholders the price undervalued the company.
Turkish billionaire Fuat Tosyalı's Algerian cold rolling mill produces its first steel
Fuat Tosyalı's Algerian subsidiary has rolled its first cold-rolled steel at Béthioua, completing the largest Turkish industrial investment outside Turkey.
Tunisian tycoon Rached Horchani's conglomerate spans tuna fleets, Sahara hotels and banks
Rached Horchani's group runs tuna fleets, date farms, olive oil mills, three Sahara hotels, quarries and stakes across Tunisia's banks.
Egyptian healthcare tycoon Hend El Sherbini's $291 million take-private draws zero acceptances
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Morocco's prime minister is worth $1.6 billion and sells a third of its fuel
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Egypt's billionaire El Sewedy family deepens education push with eight new German-model tech schools
Egypt's billionaire El Sewedy family is partnering with the government to launch eight Egyptian-German technical schools built on a German training model.
Billionaire Nassef Sawiris' Aston Villa banks record $157 million from Chelsea sale of Morgan Rogers
Aston Villa, chaired by Egypt's richest man Nassef Sawiris, has agreed a record $157 million sale of Morgan Rogers to Chelsea.
Algerian billionaire Abderrahmane Benhamadi's Condor signs German pipe manufacturing deal in Berlin
Abderrahmane Benhamadi's Condor agreed with Germany's Maincor to make pipes in Algeria, among more than 30 deals signed in Berlin.
Billionaires Tony Elumelu, Samuel Dossou-Aworet and Austin Avuru to pocket $30 million Seplat dividend
Seplat's 12-cent dividend delivers $14.4 million to Tony Elumelu's Heirs, $9.7 million to Petrolin and $6 million to Austin Avuru. GHOST
Billionaire Femi Otedola spends $160 million again on First HoldCo shares, lifting stake to $1.07 billion
Femi Otedola has spent another $160 million, on 1.78 billion additional First HoldCo shares, lifting his stake to $1.08 billion.
Congolese billionaire Paul Obambi wins tin permit as Congo's extractive output declines
Paul Obambi has won a cassiterite prospecting licence over 253 square kilometres in Kouilou, diversifying beyond the iron ore project he runs at Mayoko.
Nigerian billionaire Rasheed Sarumi's Presco sees profit falls 20% to $23.8 million in second quarter
Presco's second-quarter profit fell 20% to ₦33 billion as revenue declined, with earnings per share dropping to ₦28 from ₦41 a year earlier.
Nigerian billionaire Aliko Dangote's cement sales rose 22% last quarter, profit just 4%
Dangote Cement lifted half-year profit 24% to ₦640.2 billion, but second-quarter profit growth slowed to 4.4% even as revenue rose 22.2%.
Nigerian tycoon Michael J. Prest sues Zambia's central bank for $40 million over Investrust collapse
Michael Prest's Bank of Nevis International is seeking $40 million from Zambia's central bank over the 2024 liquidation of Investrust Bank.
Billionaire Femi Otedola's First HoldCo becomes Nigeria's most valuable bank at $4.22 billion
Billionaire Femi Otedola's First HoldCo closed at ₦5.78 trillion, or $4.22 billion, passing Zenith and GTCO to become Nigeria's most valuable bank.
Mohan Vaswani's Tolaram turned Diageo's $70 million Guinness Nigeria exit into $355 million
Tolaram takes ₦8.9 billion from Guinness Nigeria's dividend on a stake it bought for ₦103.7 billion and which is now worth ₦486.8 billion.
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
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Chirchir stated that no Chivayo-linked company bid for the JKIA contract, naming China Road and Bridge Corporation as the signatory.
Family Bank founder Titus Muya and associates pocket $36.6 million paper gain as Kenyan lender surges 44% on NSE debut
Family Bank founder Titus Muya and his associates pocketed a $36.6 million paper gain as the Kenyan lender surged 44% on its NSE debut Tuesday.
Billionaire Rostam Aziz's Taifa Mining clears key hurdle at Tanzania gold project set for construction
Rostam Aziz's Taifa Mining has cleared a critical pre-construction drilling milestone at Lake Victoria Gold's fully permitted Imwelo gold project in Tanzania.
Tanzanian billionaire Edha Nahdi's cement bets pay off as EAPC profit jumps five-fold
Tanzanian tycoon Edhah Abdallah Munif's investments in Kenya's two biggest cement companies are already paying off handsomely, with both posting sharply improved financial results.
Madagascar tycoon Mamy Ravatomanga's security firm severs ties with France's Amarante International
A security firm formerly linked to Madagascar's Mamy Ravatomanga has broken with France's Amarante International as his Sodiat Group empire faces deepening judicial pressure.
Kenyan tycoon TK Muya's Family Bank wins regulatory approval for its long-awaited NSE listing
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Adil Popat's Simba Corp commits $7.7 million to Kenya electric vehicle assembly line
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Pepkor's CEO Pieter Erasmus will hold a $169 million stake in the fintech he oversees
Pepkor CEO Pieter Erasmus will hold an indirect 13.2% of the $1.28 billion fintech his company is creating, a stake worth about $169 million.
Oprah Winfrey is handing her $40 million South African school back to the government
Oprah Winfrey will wind down her Leadership Academy for Girls at the end of 2027 and hand the campus to South Africa's Gauteng education department.
Patrice Motsepe's ARM has lost 21% this year as analysts question his platinum bet
ARM has fallen 21% this year while Anglo American and BHP gained, as analysts question the R15.2 billion revival of the Bokoni platinum mine.
Angola raises $321 million selling Unitel stake it seized from Isabel dos Santos
Angola raised $321 million selling 15% of Unitel, the telecoms group it nationalised from Isabel dos Santos, in its largest IPO to date.
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South African billionaire Ivan Saltzman quits Dis-Chem board, ending the founding family's 48-year presence
Ivan Saltzman resigned from the Dis-Chem board with immediate effect, barely three weeks after taking the non-executive seat he retired into.
Stephen Saad's Aspen secures royalty-free rights to Merck's once-monthly HIV pill
Stephen Saad's Aspen Pharmacare is one of seven drugmakers licensed to make Merck's once-monthly HIV prevention pill in 129 countries.
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Morocco rejects plan to nationalise Ethiopian billionaire Mohammed Al-Amoudi's collapsed SAMIR refinery
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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.
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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
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Dahabshiil founder Abdirashid Duale pledges $150,000 as drought deepens in northern Somalia
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Latest Posts
Pepkor's CEO Pieter Erasmus will hold a $169 million stake in the fintech he oversees
Pepkor CEO Pieter Erasmus will hold an indirect 13.2% of the $1.28 billion fintech his company is creating, a stake worth about $169 million.
Billionaires Tony Elumelu, Samuel Dossou-Aworet and Austin Avuru to pocket $30 million Seplat dividend
Seplat's 12-cent dividend delivers $14.4 million to Tony Elumelu's Heirs, $9.7 million to Petrolin and $6 million to Austin Avuru. GHOST
Billionaire Femi Otedola spends $160 million again on First HoldCo shares, lifting stake to $1.07 billion
Femi Otedola has spent another $160 million, on 1.78 billion additional First HoldCo shares, lifting his stake to $1.08 billion.
Oprah Winfrey is handing her $40 million South African school back to the government
Oprah Winfrey will wind down her Leadership Academy for Girls at the end of 2027 and hand the campus to South Africa's Gauteng education department.
Patrice Motsepe's ARM has lost 21% this year as analysts question his platinum bet
ARM has fallen 21% this year while Anglo American and BHP gained, as analysts question the R15.2 billion revival of the Bokoni platinum mine.
Congolese billionaire Paul Obambi wins tin permit as Congo's extractive output declines
Paul Obambi has won a cassiterite prospecting licence over 253 square kilometres in Kouilou, diversifying beyond the iron ore project he runs at Mayoko.
Egyptian tycoon Hend El Sherbini takes majority control of IDH despite board rejection
Hend El Sherbini's offer for Integrated Diagnostics has gone unconditional at 56.6%, days after independent directors told shareholders the price undervalued the company.
Nigerian billionaire Rasheed Sarumi's Presco sees profit falls 20% to $23.8 million in second quarter
Presco's second-quarter profit fell 20% to ₦33 billion as revenue declined, with earnings per share dropping to ₦28 from ₦41 a year earlier.
Nigerian billionaire Aliko Dangote's cement sales rose 22% last quarter, profit just 4%
Dangote Cement lifted half-year profit 24% to ₦640.2 billion, but second-quarter profit growth slowed to 4.4% even as revenue rose 22.2%.
Turkish billionaire Fuat Tosyalı's Algerian cold rolling mill produces its first steel
Fuat Tosyalı's Algerian subsidiary has rolled its first cold-rolled steel at Béthioua, completing the largest Turkish industrial investment outside Turkey.
Ugandan tycoon Sikander Lalani fled genocide in 1994 and built a $255 million steelmaker
Sikander Lalani abandoned his Kigali roofing factory when genocide broke out in 1994, rebuilt in Uganda, and now pays the state $51 million in tax.
Billionaire Beyoncé takes full ownership of SirDavis whisky as LVMH sells out of the brand
Moët Hennessy has sold its stake in SirDavis American Whisky to Beyoncé, handing her full ownership two years after they launched it together.
Media mogul Byron Allen cuts 180 BuzzFeed jobs to save $32 million a year
Byron Allen is cutting 35% of BuzzFeed's workforce, about 180 roles across BuzzFeed, HuffPost and Tasty, to save up to $32 million annually.
Nigerian tycoon Michael J. Prest sues Zambia's central bank for $40 million over Investrust collapse
Michael Prest's Bank of Nevis International is seeking $40 million from Zambia's central bank over the 2024 liquidation of Investrust Bank.
Billionaire Femi Otedola's First HoldCo becomes Nigeria's most valuable bank at $4.22 billion
Billionaire Femi Otedola's First HoldCo closed at ₦5.78 trillion, or $4.22 billion, passing Zenith and GTCO to become Nigeria's most valuable bank.
Mohan Vaswani's Tolaram turned Diageo's $70 million Guinness Nigeria exit into $355 million
Tolaram takes ₦8.9 billion from Guinness Nigeria's dividend on a stake it bought for ₦103.7 billion and which is now worth ₦486.8 billion.
