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South African insurance mogul Antonio Iozzo will sue the state after fraud charges are dropped
Prosecutors withdrew fraud charges against Antonio Iozzo over a R800 million family trust dispute. He now plans a damages claim against the state.
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South African insurance mogul Antonio Iozzo will sue the state after fraud charges are dropped
Prosecutors withdrew fraud charges against Antonio Iozzo over a R800 million family trust dispute. He now plans a damages claim against the state.
South Africa's Brimstone Investment Corporation lifted dividends 76% despite US aid cuts
Brimstone's cash dividends rose 76.5% to R161.4 million and net asset value 11.7%, even as US health funding cuts hit its Obsidian business.
Why Africans with $1 billion in shares are missing from the Bloomberg and Forbes rich lists
Forbes and Bloomberg subtract debt, discount illiquid stakes and refuse to count assets they cannot verify. A billion-dollar holding is not enough.
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The Inside Story: The Missing Ingredient — How Stella Okoli Went From a ₦5,000 Chemist's Shop to Chasing Sub-Saharan Africa's First Drug-Ingredient Plant
In 1977, Stella Okoli opened a small chemist's shop in Lagos with 5,000 naira and her father's house as collateral. She built it into one of Nigeria's largest drugmakers.
Deep-Dive Report: The Clinker Race — How Narendra Raval and Two Rival Billionaires Are Betting $600 Million on Making East Africa's Cement Locally
For two decades East Africa imported the clinker that makes cement. Now three billionaires, led by former temple assistant Narendra Raval, are pouring $600 million into making it locally as the multinationals retreat and tariffs bite. Inside the bet on self-sufficiency.
Investor Memo: The Pre-Emption — How Angola's Etu Energias Used a Right of First Refusal to Take Chevron's Oil Blocks From a London Bidder
Chevron agreed to sell two Angolan oil blocks to London-listed Energean for $260 million. Then Etu Energias, already a partner, used a right of first refusal to take the deal itself. A masterclass in how insiders win — and a signpost to who owns Africa's oil next.
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.
Swvl raises $13m from Naguib Sawiris-backed Coefficient for US push
Four years after a $1.5bn SPAC listing that unravelled, Egypt's Swvl has raised $13 million led by Coefficient LP, the Houston firm backed by the Sawiris family — funding a US push and a new lending product for transport operators.
Moroccan canned fish billionaire Saïd Alj holds a $114 million stake in insurer Sanlam Maroc
Said Alj, the Moroccan behind Titus sardines, owns 7.206% of Sanlam Maroc, a stake worth $114 million after the Allianz Maroc merger.
Morocco has a new billionaire, Mohammed Bouzoubaa, with a $1.6 billion stake in TGCC
Morocco has another new billionaire in TGCC founder Mohammed Bouzoubaa, whose 19.3 million shares in the construction group are worth $1.62 billion.
Morocco has a new billionaire, construction tycoon M'hammed Kabbaj, worth $1.7 billion
Morocco has a new billionaire in SGTM chairman M'hammed Kabbaj, whose 22.2 million shares in the construction group are worth $1.72 billion.
Kylian Mbappé-backed Alan buys Senegal's Tanel in first Africa deal
Alan, the French health insurance unicorn whose backers include Kylian Mbappé, has bought Dakar's Tanel its first move into Africa. The target is a million African customers by 2030, starting in Senegal and Côte d'Ivoire.
Nigerian tycoon John Alamu is 34 and already runs the country's largest cocoa processor
John Alamu started with ₦100,000 lending to market women in 2014. At 34 he runs Nigeria's largest cocoa processor and a bank in two countries.
Aliko Dangote's stake in Nigeria's only Islamic bank is worth $18.2 million
Dangote Industries holds 3.05 billion Jaiz Bank shares, 6.85% of Nigeria's pioneer non-interest lender, worth N25.34 billion at current prices.
Nigerian tycoon Ernest Azudialu-Obiejesi invests $28 million in drilling rigs
Nestoil invests $28m in rigs to lift OML 42 production
Singapore's wealthy Aswani family is still buying Guinness Nigeria shares after a $343 million gain
N-Seven Nigeria, a Tolaram subsidiary, bought 550,092 more Guinness Nigeria shares on Aug. 28, lifting the Aswani family holding above 70.86%.
Nigerian tycoon Gliffeth Wonuigwe's Gasgroup targets NGX listing, expands into refining, power, gas infrastructure, AI data centers
Gliffeth Wonuigwe, the Nigerian oil and gas executive who runs Gasgroup, is taking the company to the Nigerian Exchange main board and repositioning it from oilfield services into refining, LNG and power for artificial intelligence data centres.
Cameroonian cosmetics mogul Francis Nana Djomou is losing ground as imports surge 66%
Cameroon imported $99 million of cosmetics in 2025, up 66% in three years, in the market Francis Nana Djomou built with affordable local brands.
Nigerian billionaire Femi Otedola's First HoldCo stake now worth $1.4 billion at record high
First HoldCo hit an all-time high of N159.90 on Tuesday, lifting Femi Otedola's holding to about N1.97 trillion, roughly $1.42 billion.
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
South African insurance mogul Antonio Iozzo will sue the state after fraud charges are dropped
Prosecutors withdrew fraud charges against Antonio Iozzo over a R800 million family trust dispute. He now plans a damages claim against the state.
South Africa's Brimstone Investment Corporation lifted dividends 76% despite US aid cuts
Brimstone's cash dividends rose 76.5% to R161.4 million and net asset value 11.7%, even as US health funding cuts hit its Obsidian business.
US-sanctioned Zimbabwean billionaire Kudakwashe Tagwirei has been sworn in as a senator
Sakunda founder Kudakwashe Tagwirei took his oath on Tuesday, appointed by a president who sits alongside him on the same US sanctions list.
Michiel Le Roux's Capitec blocked $43 million in fraud losses using AI that scores every payment in real time
Capitec has revealed that its AI-powered payment screening system blocked $43 million in potential fraud losses for more than 113,000 clients in the year to June 2026, while flagging more than 394,000 potentially fraudulent payments.
Two South Africans built Tekkie Town from to a $197 million company, then Steinhoff wiped it all out
From $1,230 to $197 million and back to zero: Tekkie Town founders Braam van Huyssteen and Bernard Mostert describe how Steinhoff's accounting scandal destroyed their life's work in 18 months.
South African billionaire Jannie Mouton admits the Capitec mistake that cost PSG $1.4 billion
Jannie Mouton has admitted that unbundling PSG's 58% Capitec stake in 2003 was one of the costliest mistakes in South African investment history, a decision that cost the company $1.4 billion in future returns before a fortunate re-entry partially rescued the position.
Christo Wiese's Shoprite buys into R&A Cellular to compete in South Africa's $61 billion informal economy
Shoprite has completed a 51% acquisition of fintech R&A Cellular, marking the retail giant's entry into South Africa's informal economy estimated at between $46 billion and $61 billion.
Shoprite grew sales by $1 billion while cutting prices at its cheapest stores
Shoprite added R18.1 billion in sales while running price deflation at Shoprite and Usave, and is buying coffee chain Vida e Caffè and R&A Cellular.
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.
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Bill Gates has 60% of his $33 billion foundation portfolio in three stocks and none of them are tech companies
Bill Gates, worth more than $100 billion despite decades of donations, has concentrated 60% of his Gates Foundation's $33 billion investment portfolio in three slow-growing value stocks, none of which are technology companies.
David Tepper cut Micron by 41%, dumped Sandisk entirely and is now betting against Apple with $242 million in put options
David Tepper's Appaloosa Management cut its Micron stake by 41%, sold its entire Sandisk position and placed a $242 million bet against Apple in the second quarter, raising questions about whether the memory chip supercycle is approaching its peak.
South African insurance mogul Antonio Iozzo will sue the state after fraud charges are dropped
Prosecutors withdrew fraud charges against Antonio Iozzo over a R800 million family trust dispute. He now plans a damages claim against the state.
South Africa's Brimstone Investment Corporation lifted dividends 76% despite US aid cuts
Brimstone's cash dividends rose 76.5% to R161.4 million and net asset value 11.7%, even as US health funding cuts hit its Obsidian business.
Why Africans with $1 billion in shares are missing from the Bloomberg and Forbes rich lists
Forbes and Bloomberg subtract debt, discount illiquid stakes and refuse to count assets they cannot verify. A billion-dollar holding is not enough.
US-sanctioned Zimbabwean billionaire Kudakwashe Tagwirei has been sworn in as a senator
Sakunda founder Kudakwashe Tagwirei took his oath on Tuesday, appointed by a president who sits alongside him on the same US sanctions list.
Michiel Le Roux's Capitec blocked $43 million in fraud losses using AI that scores every payment in real time
Capitec has revealed that its AI-powered payment screening system blocked $43 million in potential fraud losses for more than 113,000 clients in the year to June 2026, while flagging more than 394,000 potentially fraudulent payments.
Billionaire Mark Cuban bought a $25 million Dallas mansion sight unseen and paid half price
Mark Cuban paid half price for a $25 million Dallas mansion he had never set foot in, buying it sight unseen during a foreclosure and calling it the best guaranteed return on investment available anywhere.
New Apple CEO John Ternus could earn $58 million
Billionaire Tim Cook has handed Apple to John Ternus and kept a $47m package as executive chairman. Filings show only half of Cook's award is performance-linked. Three-quarters of the new chief executive's is.
Monaco's Mareterra district made $3 billion profit in six months with Kazakh billionaire Bulat Utemuratov among investors
Monaco's Mareterra luxury district, built on reclaimed Mediterranean land at a cost of $2.3 billion over 11 years, generated $3 billion in net profit within six months of completion, with Kazakh billionaire Bulat Utemuratov among the investors who shared in the returns.
Kylian Mbappé-backed Alan buys Senegal's Tanel in first Africa deal
Alan, the French health insurance unicorn whose backers include Kylian Mbappé, has bought Dakar's Tanel its first move into Africa. The target is a million African customers by 2030, starting in Senegal and Côte d'Ivoire.
Nigerian tycoon John Alamu is 34 and already runs the country's largest cocoa processor
John Alamu started with ₦100,000 lending to market women in 2014. At 34 he runs Nigeria's largest cocoa processor and a bank in two countries.
Billionaire Mukesh Ambani is taking on India's ice cream giants at 11 cents a cup
Billionaire Mukesh Ambani is entering India’s crowded ice cream market with Bombay Creamery, using ₹10 starting prices and Reliance’s vast retail network to challenge established brands.
Billionaire Stan Kroenke Agrees to Buy Los Angeles Angels in Reported $4 Billion Deal
Billionaire Stan Kroenke is expanding his sports empire after agreeing to acquire a controlling interest in the Los Angeles Angels in a reported $4 billion deal.
Aliko Dangote's stake in Nigeria's only Islamic bank is worth $18.2 million
Dangote Industries holds 3.05 billion Jaiz Bank shares, 6.85% of Nigeria's pioneer non-interest lender, worth N25.34 billion at current prices.
Nigerian tycoon Ernest Azudialu-Obiejesi invests $28 million in drilling rigs
Nestoil invests $28m in rigs to lift OML 42 production
