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Kenyan tycoon Peter Munga partners with Nairobi expressway developer
Kenyan tycoon Peter Munga teams up with U.S.-based Everstrong Capital in $3.62-billion toll road project, marking a new chapter in his business empire.
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Family of Kenya's longest-serving spy chief wins $77 million land battle
Kenyan court restores $77 million estate to Kanyotu family, voids fraudulent sale of 500-acre land in Ruiru after forged documents exposed.
Nigerian billionaire Femi Otedola details rise to success in upcoming autobiography
Femi Otedola reveals lessons, risks, and defining moments in business in his long-awaited autobiography.
Central bank cracks down on son of Algeria’s richest man
Omar Rebrab barred from business roles as Algeria’s central bank enforces freeze amid misconduct probe.
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Legal dispute threatens Tanzanian billionaire Rostam Aziz’s Mombasa LPG project
Rostam Aziz’s Mombasa LPG project faces court challenge over alleged environmental harm, coral disruption, and lack of community consultation.
U.S.-Nigerian telecom executive Sam Darwish’s stake in IHS gains nearly $6 million
The recent rally has driven Sam Darwish’s stake to nearly $50 million.
Ghabbour family, one of Egypt’s wealthiest, gains $21.5 million from GB Corp.
The recent rally in GB Corp.’s shares has pushed the Ghabbour family’s stake to nearly $234 million.
Central bank cracks down on son of Algeria’s richest man
Omar Rebrab barred from business roles as Algeria’s central bank enforces freeze amid misconduct probe.
Algerian-born French beauty mogul Sue Nabi’s Coty stake swells by $13 million
Coty CEO Sue Nabi’s stake rose to nearly $160 million after a nearly 9% stock increase, signaling growing investor confidence in the beauty giant’s direction.
Egyptian billionaire Samih Sawiris’ Mamula Island enters new era with Banyan Group
Egyptian billionaire Samih Sawiris’ Mamula Island hotel begins a Banyan Tree rebrand after a seven-year restoration of the historic fortress.
Egyptian billionaire Hisham Talaat Moustafa’s TMG shares top $1 billion again
Hisham Talaat Moustafa's stake in TMG rebounds above $1 billion after a 10% share rally, adding $95 million in 22 days.
Egyptian billionaire brothers, Ahmed and Sadek, gain $80 million from Elsewedy Electric stake
El-Sewedy brothers’ stake in Elsewedy Electric jumps over $80 million in under three weeks as investors rally behind Egypt’s industrial growth.
Egypt's Naguib Sawiris to invest $100 million in electric motorbike project in Morocco
Naguib Sawiris backs $100 million plan to electrify Morocco’s motorbike transport through affordable battery leasing with BluEV.
Hisham Talaat Moustafa leads TMG to record $4.3 billion sales in H1 2025
TMG posts $4.3 billion in H1 2025 sales, driven by high demand for Egypt’s coastal projects and expansion into Oman, Iraq.
Dalia Khorshid-led Beltone unveils AI unit to target MENA growth
Robin’s offerings include real-time market monitoring tools, intelligent dashboards, predictive analytics, and automated strategic reporting.
Zenith Bank stake held by Nigeria’s richest bank founder Jim Ovia nears $250 million
Jim Ovia’s Zenith Bank stake nears $250 million as investor confidence boosts shares 32% in under a month.
Nigerian businessman Oba Otudeko exits First HoldCo in multimillion-dollar deal
Oba Otudeko exits First Holdco in a $211 million deal, clearing the path for Femi Otedola to tighten control of Nigeria’s oldest banking group.
Femi Otedola’s quiet power move spurs $211 million block trade on NGX
Rare $211.7 million block trade on NGX signals changing control at First HoldCo as longtime shareholders quietly exit.
Nigerian billionaire Femi Otedola details rise to success in upcoming autobiography
Femi Otedola reveals lessons, risks, and defining moments in business in his long-awaited autobiography.
Nigeria’s Sijuwade royal family, one of Africa’s richest, grows fortune to $240 million over decade
Royal heirs grow Sijuwade family fortune to $240 million through energy, real estate, and construction investments across Nigeria and beyond.
Oil mogul Gabriel Ogbechie’s Rainoil unveils 10 new fuel stations across Nigeria
The expansion supports Rainoil’s “Road to 400” push to scale its nationwide fuel retail network and boost petroleum access in urban and underserved markets.
Billionaire Mike Adenuga’s Globacom to launch public Wi-Fi in Lagos under new deal
Globacom teams up with Wave5 to deploy public Wi-Fi in Lagos, aiming to ease congestion and expand digital access.
Africa's richest man, Aliko Dangote, plans Nigeria’s biggest seaport
This infrastructure will enhance logistics for Dangote’s fertilizer and oil refinery operations, including planned exports of liquefied natural gas (LNG).
Kenyan tycoon Narendra Raval faces tax blow as cement empire comes under fire
Auditor-General Nancy Gathungu has warned that granting tax waivers without a proper legal basis could open the floodgates to abuse.
Kenyan tycoon Peter Munga partners with Nairobi expressway developer
Kenyan tycoon Peter Munga teams up with U.S.-based Everstrong Capital in $3.62-billion toll road project, marking a new chapter in his business empire.
Family of Kenya's longest-serving spy chief wins $77 million land battle
Kenyan court restores $77 million estate to Kanyotu family, voids fraudulent sale of 500-acre land in Ruiru after forged documents exposed.
Kenyan executive Peter Ndegwa pockets $2.3 million salary from Safaricom
Kenyan CEO Peter Ndegwa received $2.3 million from Safaricom, reflecting growth in share-based awards despite profit declines.
Tanzanian billionaire Said Bakhresa opens $100 million soya plant in Malawi
$100 million plant to process 500 tons of soya daily, boost Malawi’s agriculture, and reduce reliance on imported cooking oil.
Kenyan businessman Narendra Raval’s $85 million plant hits snag over lease conflict
Land dispute stalls Kenyan businessman Narendra Raval’s iron plant in Voi as county disowns lease, citing illegal leadership deal.
Mauritian tycoon Arnaud Lagesse's Phoenix completes $80 million acquisition in Seychelles
Phoenix Beverages buys 54.4% stake in Seychelles Breweries from Diageo to boost growth across East Africa and the Indian Ocean.
From Land to banks: Kenyatta family’s NCBA stake now worth over $100 million
Kenyatta family’s NCBA stake tops $100 million as shares rally 14% on the NSE, boosting wealth and reinforcing influence across East Africa.
South African pharma mogul Stephen Saad’s Aspen stake sinks under $360 million
Aspen Pharmacare CEO Stephen Saad loses $32 million in 13 days as stock slumps; his stake now worth under $360 million amid JSE sell-off.
South African billionaire Johann Rupert’s Richemont posts $6.3 billion in Q1 sales
Richemont’s Q1 sales hit $6.3 billion, fueled by strong jewelry demand in Europe, the Americas, and the Middle East, offsetting weaker watch sales and flat Asia trends.
South Africa’s second-richest man, Nicky Oppenheimer, is $1 billion richer so far in 2025
Nicky Oppenheimer gains $1 billion, lifting his net worth to $12.6 billion through investments in industry, finance, and African conservation.
South African businessman Hendrik du Toit’s Ninety-One hits $187 billion in managed assets
Ninety One, led by Hendrik du Toit, hit $187.9 billion in AUM as of June 2025, reflecting global momentum, strategic acquisitions, and strong client inflows.
Africa’s oldest billionaire backs $1.42 billion bid to take over Australia’s Abacus Storage King
Natie Kirsh-backed consortium ups Abacus Storage King bid to $1.42 billion, intensifying takeover battle.
South Africa’s Ackerman family gains $14.3 million from Pick n Pay stake
Pick n Pay’s recent rally lifts Ackerman family’s stake above $185 million, reversing May losses.
Accelerate Property Fund,partly owned by Michael Georgiou, faces $44.8 million impairment amid fresh deal
Accelerate Property Fund may write down R800m debt tied to Fourways Mall deal as it opens a $5.57 million rights offer amid stalled restructuring talks.
Accelerate Property Fund, partly owned by Michael Georgiou, launches $5.57 million rights offer
Accelerate Property Fund launches $5.57 million rights offer as it seeks to stabilize finances and renegotiate Fourways Mall deal.
Sudan’s richest family, the Elnefeidis, seeks $17 million from the IFC to import wheat
Sudan's richest family, the Elnefeidis, is seeking a $19 million facility from the International Finance Corporation to support wheat imports for its Cameroon business.
Ethiopia’s richest man adds $1 billion, back to Bloomberg list after Preem's deal
The $1 billion rebound not only brought him back onto the list but pushed him up to 455th place.
Preem, formerly owned by Mohammed Al-Amoudi, posts $3.29 billion in Q1 sales
Preem's Q1 2025 sales dropped 8.3% to $3.29 billion, with weaker margins and downtime impacting profits.
Samuel Tafesse: Ethiopian developer behind Africa’s first Marriott hotel
From fixing roofs in Addis Ababa to developing sub-Saharan Africa’s first Marriott hotel, Tafesse has become one of Ethiopia’s top businessmen.
VARO Energy to acquire Preem from Ethiopian billionaire Mohammed Al-Amoudi
This acquisition signals the end of Ethiopian billionaire Mohammed Al-Amoudi’s long-standing role in Sweden’s energy sector.
Belayneh Kindie ventures into Ethiopia’s electric mobility space with 100 e-buses
Ethiopian businessman Belayneh Kindie launches 100 locally assembled electric buses in Addis Ababa, advancing Ethiopia’s clean transit and electric mobility goals.
Ethiopia’s richest man Mohammed Al-Amoudi sees Preem stake soar to $4.7 billion
Preem’s newly published 2024 annual report provided fresh insights into its valuation, driving up the value of Mohammed Al-Amoudi’s stake.
Ethiopian billionaire Mohammed Al-Amoudi’s Preem posts $12.8 billion in 2024 revenue
The company reported lower revenue and profit for the second straight year, reflecting weaker refining margins and a challenging market environment.
Latest Posts
Kenyan tycoon Narendra Raval faces tax blow as cement empire comes under fire
Auditor-General Nancy Gathungu has warned that granting tax waivers without a proper legal basis could open the floodgates to abuse.
South African pharma mogul Stephen Saad’s Aspen stake sinks under $360 million
Aspen Pharmacare CEO Stephen Saad loses $32 million in 13 days as stock slumps; his stake now worth under $360 million amid JSE sell-off.
Kenyan tycoon Peter Munga partners with Nairobi expressway developer
Kenyan tycoon Peter Munga teams up with U.S.-based Everstrong Capital in $3.62-billion toll road project, marking a new chapter in his business empire.
Zenith Bank stake held by Nigeria’s richest bank founder Jim Ovia nears $250 million
Jim Ovia’s Zenith Bank stake nears $250 million as investor confidence boosts shares 32% in under a month.
Nigerian businessman Oba Otudeko exits First HoldCo in multimillion-dollar deal
Oba Otudeko exits First Holdco in a $211 million deal, clearing the path for Femi Otedola to tighten control of Nigeria’s oldest banking group.
Femi Otedola’s quiet power move spurs $211 million block trade on NGX
Rare $211.7 million block trade on NGX signals changing control at First HoldCo as longtime shareholders quietly exit.
South African billionaire Johann Rupert’s Richemont posts $6.3 billion in Q1 sales
Richemont’s Q1 sales hit $6.3 billion, fueled by strong jewelry demand in Europe, the Americas, and the Middle East, offsetting weaker watch sales and flat Asia trends.
Family of Kenya's longest-serving spy chief wins $77 million land battle
Kenyan court restores $77 million estate to Kanyotu family, voids fraudulent sale of 500-acre land in Ruiru after forged documents exposed.
Nigerian billionaire Femi Otedola details rise to success in upcoming autobiography
Femi Otedola reveals lessons, risks, and defining moments in business in his long-awaited autobiography.
Central bank cracks down on son of Algeria’s richest man
Omar Rebrab barred from business roles as Algeria’s central bank enforces freeze amid misconduct probe.
South Africa’s second-richest man, Nicky Oppenheimer, is $1 billion richer so far in 2025
Nicky Oppenheimer gains $1 billion, lifting his net worth to $12.6 billion through investments in industry, finance, and African conservation.
Co-op Bank Kenya CEO Gideon Muriuki raises stake with $1.57 million share purchase
Gideon Muriuki, CEO of Co‑operative Bank of Kenya, has boosted his personal stake in the lender by acquiring an additional 12 million shares valued at KSh 202.8 million (approximately US $1.57 million) — raising his stake from 2% to 2.2%.
Nigeria’s Sijuwade royal family, one of Africa’s richest, grows fortune to $240 million over decade
Royal heirs grow Sijuwade family fortune to $240 million through energy, real estate, and construction investments across Nigeria and beyond.
South African businessman Hendrik du Toit’s Ninety-One hits $187 billion in managed assets
Ninety One, led by Hendrik du Toit, hit $187.9 billion in AUM as of June 2025, reflecting global momentum, strategic acquisitions, and strong client inflows.
Oil mogul Gabriel Ogbechie’s Rainoil unveils 10 new fuel stations across Nigeria
The expansion supports Rainoil’s “Road to 400” push to scale its nationwide fuel retail network and boost petroleum access in urban and underserved markets.
Africa’s oldest billionaire backs $1.42 billion bid to take over Australia’s Abacus Storage King
Natie Kirsh-backed consortium ups Abacus Storage King bid to $1.42 billion, intensifying takeover battle.
