Featured
South African tycoon Neil Markovitz sells control of his 26-property hotel group
Banyan Group has acquired a majority stake in Newmark Hotels & Reserves, adding 26 properties across seven African countries to its portfolio.
Editors' Picks
South African tycoon Neil Markovitz sells control of his 26-property hotel group
Banyan Group has acquired a majority stake in Newmark Hotels & Reserves, adding 26 properties across seven African countries to its portfolio.
Billionaire Mohammed Al-Amoudi orders his conglomerate to hire 40,000 more Ethiopians
Mohammed Al-Amoudi has instructed MIDROC's chief executive to lift the workforce from about 80,000 to between 100,000 and 120,000 employees.
Billionaire Femi Otedola's First HoldCo out-earns every major bank in Nigeria and South Africa
First HoldCo posted a 31.63% return on average equity in the first quarter, the highest of any tier-1 bank in Nigeria or South Africa.
Exclusive Content For Paid Supporters
The Inside Story: Petrol, Noodles and Tricycles — How Uche Ogah Quit a Zenith Bank Corner Office to Build a Sell-Everything Nigerian Empire
Uche Ogah registered his own oil company while still an assistant general manager at Zenith Bank, then quit to build Masters Energy — fuel, noodles, tricycles, gas, plastics. The story of a banker who bet on selling everything to everyone, and then ran for office.
Deep-Dive Report: The $100 Million Club — The 17 Investors Who Own $37.7 Billion of the Nigerian Exchange, and Why Two Men Hold Three-Quarters of It
Just 17 investors hold $37.7 billion of Nigerian-listed shares — and two men, Abdulsamad Rabiu and Aliko Dangote, own three-quarters of it. Inside the NGX's $100 Million Club, the concentration behind it, and why the biggest paper fortunes are also the most fragile.
Investor Memo: The American Bet — How Washington's $100 Million Loan to Ziad Dalloul's Africell Makes One Telecom the Front Line Against Huawei in Africa
Washington is lending nearly $100 million to Ziad Dalloul's Africell — Africa's only American-owned telecom — to buy US kit instead of Huawei's. A deal that turns one operator into the front line of the US-China contest for Africa's networks. The memo on what it means.
Egypt's billionaire Elsewedy family opens a Shanghai buying office for its $6 billion group
Elsewedy Electric (Shanghai) began operating on Sept. 15 as the Egyptian group's procurement centre for China, six months after it registered.
Algerian billionaire Issad Rebrab is now barred from running even his smallest companies
Issad Rebrab, 81, has been stripped of the right to manage the small companies he owns outside Cévital, three years after losing the group itself.
Egyptian billionaire Nassef Sawiris opens a €866 million offer to take OCI private
NNS Holding opened its all-cash offer for OCI Global on Sept. 15 at €4.10 a share, valuing the fertiliser group at about €866 million.
Egypt's billionaire Elsewedy family bets $700 million on energy services
Egypt's El Sewedy family has announced about $700 million of investment as Elsewedy Electric pushes from cables into power services.
Moroccan billionaire Moulay Hafid Elalamy now holds 12.5% of Teleperformance
Moulay Hafid Elalamy has closed the €355 million derivative he used to build a stake in Teleperformance, and holds about 12.5% of the CAC 40 group.
Billionaire Naguib Sawiris's son backs $50 million platform to buy Egypt's heritage brands
Onsi Naguib Sawiris has put money behind a new vehicle buying culture-rooted Egyptian brands. Creative Investments Holding has secured $20 million at first close toward a $50 million target, with an Egyptian state SME agency sitting on the same cap table.
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 Femi Otedola's First HoldCo out-earns every major bank in Nigeria and South Africa
First HoldCo posted a 31.63% return on average equity in the first quarter, the highest of any tier-1 bank in Nigeria or South Africa.
Nigerian billionaire heir Osahon Okunbo invests in US cancer AI company
Vetrinox Capital, the Lagos family office of Osahon Okunbo, has invested in Hurone AI, its first commitment to United States healthcare.
Cameroonian billionaire Paul Fokam has not set foot in the country where his bank dominates
Paul Fokam persuaded Paul Biya to waive a law in 1986 so he could found a bank with no state money. It is now Cameroon's largest.
Dangote refinery boss defends $49 billion valuation
A US refiner with more capacity than Dangote's is worth about $16 billion. A Turkish one is worth $12 billion. Aliko Dangote is asking investors for $49 billion and his chief executive says the comparison is the wrong one.
How billionaire Mofid Karameh built the Mikano empire in Nigeria making generators, cars and syringes
Mofid Karameh founded Mikano in 1993 servicing generators. It now has six divisions making cars, boats, syringes, brake pads and wafers.
Ivorian Palm oil billionaire Jean-Louis Billon has been named an IUCN Patron of Nature in China
The IUCN named SIFCA chairman Jean-Louis Billon a Patron of Nature on Sept. 14, the first from West Africa in the programme's 16-year history.
Coleman, owned by Nigeria's wealthy Onafowokan family, is now the biggest cable maker in West Africa
Coleman Technical Industries ranks sixth in Africa and first in West Africa, chairman Solomon Onafowokan said at its new headquarters opening.
Adaora Umeoji's Zenith Bank stake is now worth $27 million
Adaora Umeoji holds 285,096,933 Zenith Bank shares, worth N35.89 billion at Monday's close, the largest stake held by any Nigerian bank chief.
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 tycoon Neil Markovitz sells control of his 26-property hotel group
Banyan Group has acquired a majority stake in Newmark Hotels & Reserves, adding 26 properties across seven African countries to its portfolio.
Angolan investor Zandre Campos buys into Refriango, the country's biggest drinks maker
Zandre Campos has entered the capital of Refriango through his investment firm ABO Capital, in one of Angola's most significant corporate deals.
South African tycoon Anna Mokgokong has bought Warmbaths and five other resorts
Benus, an investment company tied to Anna Mokgokong's Community Investment Holdings, has completed its acquisition of Forever Resorts.
South African tycoon Japie van Niekerk buys a mall nobody else wanted in the Kalahari
New Africa Developments has completed its purchase of Kalahari Mall in Upington, its first asset in the Northern Cape, after Tribunal approval.
Glencore's $2 billion Singapore fight hits Glasenberg's 10% stake
Glencore says its former partner sent banks falsified invoices and fabricated emails. That partner is suing for $2 billion. The company has already provisioned $480 million, one of its largest trading losses as a public company and Ivan Glasenberg owns a tenth of it.
South African billionaire Patrice Motsepe's Harmony Gold has lost eight workers this year
A Harmony Gold employee died at Mponeng on Sept. 14 after a seismic event, the eighth on-duty death across the group this year.
Botswana tycoon Ramachandran Ottapathu wins approval to buy Engen but must sell 67 stations
Botswana's competition authority approved Ramachandran Ottapathu's purchase of 70% of Engen Botswana, on condition he sells 67 filling stations.
Shoprite CEO Pieter Engelbrecht gets $2.2m of $7m share pool
Thirteen executives at Africa's largest grocer have been handed R115 million in shares. The chief executive took nearly a third. The finance chief took part of his through his wife, and moved another R11.5 million of stock into a family trust.
Billionaire Mohammed Al-Amoudi orders his conglomerate to hire 40,000 more Ethiopians
Mohammed Al-Amoudi has instructed MIDROC's chief executive to lift the workforce from about 80,000 to between 100,000 and 120,000 employees.
Tewodros Ashenafi is the man foreign companies use to get into Ethiopia
Tewodros Ashenafi was the local partner on Ethiopia's largest privatisation, a $1.4 billion tobacco deal, and co-owns Ambo with Coca-Cola.
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.
Latest Posts
Jeff Bezos' fortune jumps from $137 billion to $378 billion in a year
Jeff Bezos' fortune has jumped $137 billion in a year to $378 billion, keeping him second in America and the richest person in Florida.
Billionaire Bill Ackman bets $4.4 billion on Microsoft and Amazon
Bill Ackman's Pershing Square holds about $4.4 billion of Microsoft and Amazon stock, roughly 22% of its portfolio, after buying more Microsoft and trimming Amazon.
South African tycoon Neil Markovitz sells control of his 26-property hotel group
Banyan Group has acquired a majority stake in Newmark Hotels & Reserves, adding 26 properties across seven African countries to its portfolio.
Billionaire Mohammed Al-Amoudi orders his conglomerate to hire 40,000 more Ethiopians
Mohammed Al-Amoudi has instructed MIDROC's chief executive to lift the workforce from about 80,000 to between 100,000 and 120,000 employees.
Billionaire Femi Otedola's First HoldCo out-earns every major bank in Nigeria and South Africa
First HoldCo posted a 31.63% return on average equity in the first quarter, the highest of any tier-1 bank in Nigeria or South Africa.
Kenyan cement tycoon Benson Ndeta won his fraud case and his old partners are appealing
Savannah Heights and John Gachanga Kaiganaine have gone to the Court of Appeal over a ruling that declared Benson Ndeta's prosecution unlawful.
Angolan investor Zandre Campos buys into Refriango, the country's biggest drinks maker
Zandre Campos has entered the capital of Refriango through his investment firm ABO Capital, in one of Angola's most significant corporate deals.
Billionaire Todd Boehly sells his Chelsea stake and leaves as chairman
Todd Boehly and Mark Walter have sold their Chelsea stakes to Clearlake Capital for close to £1 billion, giving the firm full control.
Sudan's richest family opens 40,000 tonnes of grain storage at Cameroon's main port
Afisa Food Industry, owned by Sudan's Elnefeidi family, has built eight grain silos at Douala port and will run them for 20 years before handover.
Elon Musk, worth $917 billion, is living in a trailer in Memphis
Elon Musk says his new "palace" is an Airstream trailer parked at xAI's Memphis supercomputer site, where he is personally helping the expansion.
Crypto billionaire Justin Sun awards OpenAI $1 million that OpenAI does not want
Justin Sun has launched a prize and handed OpenAI $1 million for cracking one of mathematics' seven Millennium Problems. OpenAI answered two of the four parts, declined the official $1 million prize for it, and the Clay Institute still lists the problem as open.
Revolut founder Nik Storonsky says ChatGPT found his $404 million yacht's ex-owner
Nik Storonsky owns 29 per cent of a company valued at $115 billion, and last month asked investors to let him borrow more against it. He also spent €350 million on a superyacht and is now in court over a €17.5 million commission.
Byron Allen's BuzzFeed spending hits $128 million after third share buy
Byron Allen's family office has committed about $128 million to BuzzFeed shares across three purchases since May, each at a lower price than the last.
Billionaire Tyler Perry is leaving Atlanta for Puerto Rico to slow down
Tyler Perry says he will leave Atlanta for Puerto Rico in early 2027 and scale back his work schedule to focus on his 11-year-old son.
Aliko Dangote's refinery IPO could add $60 billion to Nigeria's stock market
Nigeria's trade minister says Aliko Dangote's refinery IPO could add $60 billion to the Nigerian Exchange, though analysts value the plant closer to $49 billion.
Nigerian billionaire heir Osahon Okunbo invests in US cancer AI company
Vetrinox Capital, the Lagos family office of Osahon Okunbo, has invested in Hurone AI, its first commitment to United States healthcare.
