Featured
Dangote refinery IPO priced at N525 a share, valuing it at $47 billion
Nigeria's SEC approved the Dangote refinery IPO at 525 naira a share. The 4.1 billion share offer opens Sept. 14 and could raise $1.55 billion.
Editors' Picks
Dangote refinery IPO priced at N525 a share, valuing it at $47 billion
Nigeria's SEC approved the Dangote refinery IPO at 525 naira a share. The 4.1 billion share offer opens Sept. 14 and could raise $1.55 billion.
6 Nigerian billionaires have companies joining the FTSE frontier index this month
Ten Nigerian stocks join FTSE Russell's frontier index on Sept. 21, including companies part-owned by Aliko Dangote, Femi Otedola and Victor Odili.
Zulu royal household demands clarity on billionaire Robert Gumede's Tongaat Hulett deal
Zulu Royal Chancellor Malusi Zondi gave Trade Minister Parks Tau five business days to explain the IDC transaction involving Tongaat Hulett.
Exclusive Content For Paid Supporters
The Inside Story: The Rule-Maker — How Jean Kacou Diagou Co-Wrote Africa's Insurance Rulebook, Then Built NSIA Into a 12-Country Empire in the Market He Regulated
Jean Kacou Diagou helped write the insurance rulebook for 14 African countries — then quit to compete in the market he'd regulated. From a €457,000 start in 1995 he built NSIA into a 12-country bank-insurance group. This week he pruned it, exiting Nigerian life insurance.
Deep-Dive Report: The Last Empire — Inside the €7 Billion Castel Group, Africa's Biggest Brewer, and the Family War Now Headed to a Singapore Court
The Castel Group is Africa's biggest brewer outside South Africa, sells ~€7 billion a year, and almost no one has heard of it. Now the 99-year-old founder's heirs are at war with the CEO he installed — fought inside a Singapore trust, headed for a courtroom this autumn.
Wealth Intelligence: The Index Effect — Why Nigeria's Return to FTSE's Frontier Index Rewards Dangote and First HoldCo but Leaves Out BUA, UBA and Seplat
Nigeria rejoins FTSE's frontier index on Sept 21, sending global passive capital to ten giants — Dangote Cement, First HoldCo, MTN. But BUA, UBA and Seplat were left out on free float, not size. The paradox: the concentration that makes these owners rich keeps their companies out.
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.
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.
Dangote refinery IPO priced at N525 a share, valuing it at $47 billion
Nigeria's SEC approved the Dangote refinery IPO at 525 naira a share. The 4.1 billion share offer opens Sept. 14 and could raise $1.55 billion.
6 Nigerian billionaires have companies joining the FTSE frontier index this month
Ten Nigerian stocks join FTSE Russell's frontier index on Sept. 21, including companies part-owned by Aliko Dangote, Femi Otedola and Victor Odili.
Billionaire Idrissa Nassa's Coris Bank in Burkina Faso hits $1.85 billion market value
Coris Bank International Burkina Faso reached 1,040 billion CFA francs on Sept. 2, up 201% this year, after first-half profit rose 24%.
Aliko Dangote says his $5 billion refinery IPO opens within twelve days
Aliko Dangote told investors in Botswana that the refinery's IPO opens within 12 days, seeking about $5 billion in what would be Africa's largest.
Dangote Cement, Nestlé Nigeria and First HoldCo are joining the FTSE frontier index
FTSE Russell named 10 Nigerian stocks newly eligible for its frontier index series, including Dangote Cement, First HoldCo and MTN Nigeria.
Botswana wants Aliko Dangote to build its cement, and its rail line, and more
President Duma Boko told Aliko Dangote in Gaborone that Botswana wants big-ticket projects, and pointed to a Trans-Kalahari rail line starting soon.
Why billionaire-controlled BUA, UBA, and Seplat missed FTSE’s Nigeria re-entry
FTSE Russell restored Nigeria to its Frontier Market Index, but billionaire-led giants like BUA, UBA, and Seplat were left off the list.
Billionaire Pierre Castel's family cannot remove the man running its African beer empire
Four branches of the Castel family have publicly distanced themselves from Romy Castel as the fight over Grégory Clerc's position drags into a year.
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
Zulu royal household demands clarity on billionaire Robert Gumede's Tongaat Hulett deal
Zulu Royal Chancellor Malusi Zondi gave Trade Minister Parks Tau five business days to explain the IDC transaction involving Tongaat Hulett.
Billionaire Patrice Motsepe to collect $67.7 million in ARM dividends
ARM's 700-cent final dividend takes Patrice Motsepe's payout for the year to about R1.09 billion, on a holding of 91.1 million shares.
Patrice Motsepe's African Rainbow Minerals profit jumped twelve-fold to $248 million
African Rainbow Minerals lifted revenue 25% to R16.3 billion and swung from a gross loss to R4.4 billion profit in the year to June 30.
South African billionaire Adrian Gore's Discovery Bank makes its first profit
Discovery Bank made R370 million against a R68 million loss, and 70% of new customers now come from outside the wider Discovery group.
South African billionaire Michiel le Roux's family doubles its Stormers rugby stake to 71.5%
Fynbos Group bought out Ardagh Glass Packaging Africa's shares in Red Disa Investments, taking the Le Roux family to 71.5% of Stormers Rugby.
South African billionaire Patrice Motsepe's ARM faces a fresh appeal in $195 million case
A Tanzanian judge struck out Pula's $195 million claim against Patrice Motsepe on Aug. 7 without ruling on the merits. Pula has now appealed.
South African property tycoon Sharon Wapnick resigns from Nutun board after six years
Octodec chairman Sharon Wapnick resigns as a Nutun director and remuneration committee chair, effective Sept. 30, after six years on the board.
Capitec, founded by billionaire Michiel le Roux, lists on a second South African exchange next week
Capitec takes a secondary listing on A2X from Sept. 7, in the same week JPMorgan began trading on the alternative South African exchange.
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
Dangote refinery IPO priced at N525 a share, valuing it at $47 billion
Nigeria's SEC approved the Dangote refinery IPO at 525 naira a share. The 4.1 billion share offer opens Sept. 14 and could raise $1.55 billion.
Billionaires Bezos and Gates join $188 million round for AI drug discovery firm
Family offices made 52 direct investments in August and about a fifth went to biotech. Jeff Bezos and Bill Gates both backed LifeMine Therapeutics, which uses AI to search fungal genomes for new drugs.
African Wealth Briefing — Fri., Sept. 4, 2026
Nigeria rejoins FTSE's frontier index on September 21, handing ten of its giants — Dangote Cement, First HoldCo, MTN — a wave of global passive capital, while BUA, UBA and Seplat are left out. And Aliko Dangote said his refinery's $5 billion IPO, set to be Africa's largest, opens within twelve days.
The Inside Story: The Rule-Maker — How Jean Kacou Diagou Co-Wrote Africa's Insurance Rulebook, Then Built NSIA Into a 12-Country Empire in the Market He Regulated
Jean Kacou Diagou helped write the insurance rulebook for 14 African countries — then quit to compete in the market he'd regulated. From a €457,000 start in 1995 he built NSIA into a 12-country bank-insurance group. This week he pruned it, exiting Nigerian life insurance.
Deep-Dive Report: The Last Empire — Inside the €7 Billion Castel Group, Africa's Biggest Brewer, and the Family War Now Headed to a Singapore Court
The Castel Group is Africa's biggest brewer outside South Africa, sells ~€7 billion a year, and almost no one has heard of it. Now the 99-year-old founder's heirs are at war with the CEO he installed — fought inside a Singapore trust, headed for a courtroom this autumn.
Wealth Intelligence: The Index Effect — Why Nigeria's Return to FTSE's Frontier Index Rewards Dangote and First HoldCo but Leaves Out BUA, UBA and Seplat
Nigeria rejoins FTSE's frontier index on Sept 21, sending global passive capital to ten giants — Dangote Cement, First HoldCo, MTN. But BUA, UBA and Seplat were left out on free float, not size. The paradox: the concentration that makes these owners rich keeps their companies out.
6 Nigerian billionaires have companies joining the FTSE frontier index this month
Ten Nigerian stocks join FTSE Russell's frontier index on Sept. 21, including companies part-owned by Aliko Dangote, Femi Otedola and Victor Odili.
Billionaire Michael Dell's fortune gains $107 billion in 2026 on AI server boom
Michael Dell has added $107 billion to his fortune this year, a gain second only to Elon Musk's, after Dell Technologies posted record quarterly results and its shares tripled on demand for AI servers. He now ranks fifth on the Bloomberg Billionaires Index.
VW, controlled by billionaire Porsche-Piëch family, cuts 50,000 more jobs
Volkswagen's board has approved 50,000 further job cuts, doubling reductions since 2024. About half fall in Germany. The company has not said where the rest land and South Africa's Kariega plant builds every Polo in the world.
Elon Musk's SpaceX regains $2 trillion valuation in tech rally
SpaceX closed 6.4% higher on Thursday, clearing $150 a share and restoring a $2 trillion market value for the first time since early July, as a broad technology rally and an Oppenheimer target increase lifted Elon Musk's rocket and satellite company.
Zulu royal household demands clarity on billionaire Robert Gumede's Tongaat Hulett deal
Zulu Royal Chancellor Malusi Zondi gave Trade Minister Parks Tau five business days to explain the IDC transaction involving Tongaat Hulett.
Billionaire Patrice Motsepe to collect $67.7 million in ARM dividends
ARM's 700-cent final dividend takes Patrice Motsepe's payout for the year to about R1.09 billion, on a holding of 91.1 million shares.
Billionaire Leon Black is suing the House committee investigating Jeffrey Epstein
Leon Black asked a federal court to block House subpoenas seeking documents about his dealings with Jeffrey Epstein, calling them a fishing expedition.
Nepalese billionaire Binod Chaudhary's Wai Wai factory has been ordered to halt production
Billionaire Binod Chaudhary’s Wai Wai business faces regulatory action in India after inspectors found alleged food safety violations at a Rajasthan factory.
Patrice Motsepe's African Rainbow Minerals profit jumped twelve-fold to $248 million
African Rainbow Minerals lifted revenue 25% to R16.3 billion and swung from a gross loss to R4.4 billion profit in the year to June 30.
The Kenyatta and Ndegwa families have gained $166 million since agreeing to sell NCBA
NCBA shareholders selling to Nedbank have gained Sh21.4 billion as the South African bank's shares rose 9.5% since the offer was set in January.
