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CSOs petition Nigerian President Tinubu over businessman Jimoh Ibrahim's UN posting
A 117-group civil society coalition has petitioned President Tinubu and the UN Secretary-General to review Jimoh Ibrahim's appointment as Nigeria's UN permanent representative.
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CSOs petition Nigerian President Tinubu over businessman Jimoh Ibrahim's UN posting
A 117-group civil society coalition has petitioned President Tinubu and the UN Secretary-General to review Jimoh Ibrahim's appointment as Nigeria's UN permanent representative.
7 businesses owned by Serena Williams, tennis icon turned VC
Serena Williams controls seven major businesses spanning venture capital, sports ownership, fashion and wellness. Here is what she owns beyond tennis.
Mike Smith built Walmart's $5 billion e-commerce division, took Stitch Fix public, then raised $400 million for his own venture fund
Mike Smith went from scaling Walmart's e-commerce division to taking Stitch Fix public before launching Footwork, a $400 million venture fund.
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Investor Memo: South Africa’s Fuel Reckoning: Two Weeks of Reserves, a Record Price Shock, and No Quick Fix
South Africa faces the largest fuel price adjustment in its history on April 1 — with two weeks of reserves, 75 percent diesel import dependence, and farmers at 20 percent allocations, we break down who is exposed and what comes next.
Deep-Dive Report: Africa's Refining Revolution — How the Hormuz Crisis Is Rewriting the Map
Africa spends $60 billion a year importing fuel it could refine at home — the Hormuz crisis just proved why that model is broken, and Dangote's 456,000-tonne export run shows the fix is already under way.
Exclusive Briefing: What We're Hearing — Africa's Energy Repricing in Real Time
Diesel and jet fuel are the real squeeze, Dangote has more inbound demand than it can service, Rabiu is building a parallel industrial empire, and South Africa is scrambling — here is what we are hearing as the war enters its fourth week.
King Mohammed VI's Managem invests $750 million to double gold production to 500k oz
Morocco's Managem Group plans to invest $750 million to raise gold production by 134% to 500,000 ounces by the end of the decade after net profit surged 384% to $322 million in 2025.
Nassef Sawiris's Orascom Construction posts record $9 billion backlog and a 65% profit jump
Orascom Construction posted a record $9 billion backlog and a 65% profit jump in 2025 as the United States became a major growth driver for the group.
Moroccan billionaire Othman Benjelloun’s Bank of Africa makes Forbes MENA top 100
Othman Benjelloun's Bank of Africa ranked 88th in the Forbes Middle East 2026 list of the region's 100 most valuable companies.
Mohamed Mansour's San Diego FC emerges as frontrunner to sign Mohamed Salah after Liverpool exit
Mohamed Mansour's San Diego FC is among the clubs most prominently linked to signing Mohamed Salah after the Egyptian superstar confirmed his Liverpool exit.
Morocco's royal family-controlled Attijariwafa Bank is eyeing a stake in European AI startup Mistral
Morocco's biggest bank Attijariwafa is studying an investment in French AI startup Mistral AI after it launched a model targeting financial institutions.
Billionaire Yasseen Mansour's Palm Hills posts 29.55 percent profit jump to EGP 4.22 billion in 2025
Yasseen Mansour's Palm Hills Development posted a 29.55 percent rise in consolidated net profit to EGP 4.22 billion for full-year 2025.
Hesham El Ghoroury's Tiba wins Amethis backing to scale Egypt's rice-based food ingredients export push
Hesham El Ghoroury's Tiba for Starch & Glucose has secured a minority stake from Amethis to scale production capacity and expand into global export markets.
Turkish billionaire Fuat Tosyali pushes Algeria steel complex to 8 million tons with new cold rolling mill
Tosyalı Algérie will launch a 1.4-million-ton cold rolling steel mill in Béthioua between August and September 2026, targeting high-value flat steel products.
CSOs petition Nigerian President Tinubu over businessman Jimoh Ibrahim's UN posting
A 117-group civil society coalition has petitioned President Tinubu and the UN Secretary-General to review Jimoh Ibrahim's appointment as Nigeria's UN permanent representative.
Billionaire Abdul Samad Rabiu reinstates 400 sacked BUA Cement drivers and pays their three months' salary arrears
BUA Cement has reinstated 400 sacked truck drivers and agreed to pay their January to March salary arrears after an Edo monarch brokered a settlement with Abdul Samad Rabiu.
GTCO CEO Segun Agbaje will pocket N410 million from a record dividend but owns just 0.088% of the bank he spent 15 years building
GTCO posted record profit before tax of N1.23 trillion and declared N12.76 per share dividend under Segun Agbaje, but his 32 million shares raise questions about his stake in the bank.
Nigeria's Masai Ujiri joins Serena Williams as a principal owner of WNBA's Toronto Tempo ahead of the franchise's inaugural season
Nigerian basketball executive Masai Ujiri has joined Serena Williams as a principal owner of the WNBA's Toronto Tempo ahead of its inaugural 2026 season.
Wale Tinubu's Oando PLC signs production sharing contract for Angola's Block KON-13
Oando PLC has signed a production sharing contract for Angola's Block KON-13, marking the Nigerian energy group's first move into the Angolan upstream oil market.
Afreximbank underwrites $2.5 billion of a $4 billion loan for Aliko Dangote's refinery
Afreximbank has underwritten $2.5 billion of a $4 billion loan for Dangote's refinery, marking the pan-African lender's biggest single industrial commitment.
BOAD backs Coris Bank with $52.5 million to support credit expansion
The West African Development Bank approved two refinancing lines totaling $52.5 million for Coris Bank International subsidiaries in Burkina Faso and Senegal.
Burkina Faso banker Simon Tiemtoré's Vista Group enters Central Africa with acquisition of Chad's Banque agricole et commerciale
Simon Tiemtoré's Vista Group has won regulatory approval to acquire Chad's BAC bank, marking the group's first entry into Central Africa.
9 companies owned by Ethiopian billionaire Belayneh Kindie
Ethiopian billionaire Belayneh Kindie controls a sprawling empire of companies across agriculture, manufacturing, transport and hospitality.
Kenyan tycoon Mohammed Jaffer's One Petroleum imported fuel at 3x govt rate during Iran crisis
One Petroleum, a subsidiary of Mombasa billionaire Mohammed Jaffer's Mbaraki Bulk Terminal, was cleared to import 60 tonnes of petrol at three times the government rate as Kenya's Iran war crisis drove fuel supply shortages.
James Mwangi, the Ndegwa and Kenyatta families to pocket Sh5.75 billion in Kenya bank dividends
Kenya's record bank profit year will deliver Sh5.75 billion in dividends to the country's richest investors including James Mwangi and the Ndegwa family.
Madagascar tycoon Hassanein Hiridjee backs USDh stablecoin through AXIAN Investment
AXIAN Group CEO Hassanein Hiridjee has backed Hamilton Labs' USDh stablecoin, betting digital dollars can solve Africa's savings and payments problems.
Tosin Eniolorunda's Moniepoint enters Kenya with 78 percent stake in Sumac Microfinance Bank
Tosin Eniolorunda's Moniepoint has acquired a 78 percent majority stake in Kenya's Sumac Microfinance Bank, marking the Nigerian fintech's first major entry into East Africa.
Ugandan multimillionaire and PepsiCO bottler Amos Nzeyi donates Shs150 million to build classrooms
Ugandan businessman Amos Nzeyi has donated Shs150 million to Rwere Primary School in Rubanda, funding two classroom blocks and 12 staff housing rooms.
Kenyan tycoon David Langat plans $200 million tertiary hospital in Eldoret
Balmer Healthcare and India's Apollo Hospitals plan a Sh26 billion tertiary hospital in Eldoret aimed at keeping Kenyans from going abroad for specialist treatment.
Kenya gives 97-year-old industrialist Manu Chandaria a National Heroes Award for a lifetime of philanthropy
Kenya awarded Manu Chandaria the National Heroes Award for philanthropy spanning decades of healthcare and education investment across East Africa.
Strive Masiyiwa's Econet InfraCo lists on Zimbabwe's VFEX at $1 billion in the largest initial listing in the country's capital markets history
Strive Masiyiwa's Econet InfraCo has listed on Zimbabwe's Victoria Falls Stock Exchange at $1 billion, the largest initial listing in the country's capital markets history.
Johann Rupert's Remgro to take full control of Mediclinic Southern Africa in $950 million deal
Johann Rupert's Remgro is taking full control of Mediclinic Southern Africa in a $950 million deal as its partnership with MSC splits along home market lines.
Datatec expects full year gross profit to rise 10% to $998 million as Westcon and Logicalis divisions deliver strong growth
Datatec expects full year gross profit to rise about 10% to $998 million after strong demand across its Westcon and Logicalis divisions in the second half.
Patrice Motsepe's African Rainbow Minerals is buying a stake in Canadian copper explorer Surge Copper Corp
Patrice Motsepe's African Rainbow Minerals is buying a near-20% stake in Canadian copper explorer Surge Copper Corp through a CAD3.98 million private placement.
Tycoon Simon Rudland's Swift Transport expands Zimbabwe fleet with 100 new trucks as his logistics empire continues to grow
Simon Rudland's Swift Transport is expanding its Zimbabwe fleet by 100 new trucks, the latest move in a billion-dollar empire spanning logistics, tobacco and mining.
Sysco agrees to buy Eswatini billionaire Nathan Kirsh's Jetro Restaurant Depot in a $29.1 billion deal that reshapes US food distribution
Sysco has agreed to buy Nathan Kirsh's Jetro Restaurant Depot for $29.1 billion in one of the biggest US food distribution deals in years.
Billionaire Koos Bekker's plan to build a futuristic succulent dome at his New Jersey estate is upsetting his neighbors
South African tech billionaire Koos Bekker is proposing a large succulent dome at his New Jersey estate, and the neighborhood is not staying quiet.
South African billionaire Zak Calisto's Cartrack fined R5 million
Cartrack, the vehicle tracking company founded by billionaire Zak Calisto, has agreed to pay a R5 million fine and refund over R5.1 million to customers.
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.
Ahmed Osman Guelleh, one of Djibouti's richest men, recalibrates for a tougher market
Ahmed Osman Guelleh built a logistics and beverage empire around Djibouti’s ports and Somaliland’s Coca-Cola plant. Now competition is testing his hold.
Somali businessman Abdiweli Hassan to invest $503 million in Kenya’s Tatu City
Somali businessman Abdiweli Hassan plans a $503 million mixed-use project at Kenya’s Tatu City, expanding his footprint from retail into urban development.
Latest Posts
CSOs petition Nigerian President Tinubu over businessman Jimoh Ibrahim's UN posting
A 117-group civil society coalition has petitioned President Tinubu and the UN Secretary-General to review Jimoh Ibrahim's appointment as Nigeria's UN permanent representative.
7 businesses owned by Serena Williams, tennis icon turned VC
Serena Williams controls seven major businesses spanning venture capital, sports ownership, fashion and wellness. Here is what she owns beyond tennis.
7 software companies owned by Black billionaire Robert F. Smith
Billionaire Robert F. Smith controls a tech empire through Vista Equity Partners. Here are seven major companies currently under his vast influence.
7 companies and ventures led by Jewel Burks Solomon
Jewel Burks Solomon has built an influential business legacy through startup exits and venture capital. Here are seven entities she leads.
9 companies owned by Ethiopian billionaire Belayneh Kindie
Ethiopian billionaire Belayneh Kindie controls a sprawling empire of companies across agriculture, manufacturing, transport and hospitality.
How Don Cornwell built Dynasty Equity with Liverpool FC, TMRW Sports, and a seat at the NFL table
K. Don Cornwell turned three decades of sports banking into a global investment empire through Dynasty Equity and a growing portfolio of sports assets.
Mike Smith built Walmart's $5 billion e-commerce division, took Stitch Fix public, then raised $400 million for his own venture fund
Mike Smith went from scaling Walmart's e-commerce division to taking Stitch Fix public before launching Footwork, a $400 million venture fund.
How Robert F. Smith built a $107 billion software empire and became the wealthiest Black American
Robert F. Smith built Vista Equity Partners into a $107 billion software powerhouse. He is the wealthiest Black person in the United States.
David Grain is a $2.5 billion telecom billionaire. Here are the 7 companies that got him there.
David Grain's $2.5 billion fortune is built on a growing portfolio of broadband, fiber and spectrum companies spanning the US and Canada.
Billionaire Abdul Samad Rabiu reinstates 400 sacked BUA Cement drivers and pays their three months' salary arrears
BUA Cement has reinstated 400 sacked truck drivers and agreed to pay their January to March salary arrears after an Edo monarch brokered a settlement with Abdul Samad Rabiu.
African Wealth Briefing — Thu., April 2, 2026
GTCO posts record N1.23 trillion profit, Moniepoint enters Kenya with a 78 percent bank acquisition, Innoson denies a Ghana relocation, and BET founder Robert L. Johnson quietly reclaims his billionaire status.
Inside the $10 billion retail empire that made Stefan Kaluzny one of America's newest Black billionaires
Sycamore Partners co-founder Stefan Kaluzny turned distressed retail into a billionaire-making machine. Forbes now pegs his fortune at $1.3 billion.
King Mohammed VI's Managem invests $750 million to double gold production to 500k oz
Morocco's Managem Group plans to invest $750 million to raise gold production by 134% to 500,000 ounces by the end of the decade after net profit surged 384% to $322 million in 2025.
Kenyan tycoon Mohammed Jaffer's One Petroleum imported fuel at 3x govt rate during Iran crisis
One Petroleum, a subsidiary of Mombasa billionaire Mohammed Jaffer's Mbaraki Bulk Terminal, was cleared to import 60 tonnes of petrol at three times the government rate as Kenya's Iran war crisis drove fuel supply shortages.
How Sengal Selassie built a $6 billion private credit empire
Sengal Selassie left Goldman Sachs to found Brightwood Capital, a minority-owned private credit firm now managing more than $6 billion.
How Robert L. Johnson lost his billionaire status after building BET and Quietly won it back
BET founder Robert L. Johnson has reclaimed his place among the world's billionaires after decades of quiet, disciplined reinvention.
