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Nigerian billionaire Ladi Jadesimi will pocket $5.5 million from Aradel Holdings as the company posts its most profitable year ever
Ladi Jadesimi's 5.27 percent stake in Aradel Holdings will earn him N7.5 billion in total dividends for 2025 after the company posted record profits.
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Cameroonian banking billionaire Paul Fokam launches Africa Diamond Invest securities firm in Togo
Cameroonian billionaire Paul Kammogne Fokam's Afriland First Holding has launched Africa Diamond Invest, a new securities firm targeting West African financial markets from a Lomé base.
Nigerian energy group Aradel Holdings posts $552 million profit in 2025
Aradel Holdings has posted N757.3 billion profit after tax for FY 2025, up 192%, as landmark acquisitions fundamentally reset the scale of Nigeria's leading indigenous energy group.
Controversial Zimbabwean businessman Wicknell Chivayo receives Eswatini citizenship from King Mswati III
Zimbabwean businessman Wicknell Chivayo has been granted Eswatini citizenship and a diplomatic passport by King Mswati III following a private audience at the Royal Palace.
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Kylian Mbappe earns $100 million a year and is building the empire that survives after football
Kylian Mbappe earns $100 million a year, is chasing the all-time World Cup scoring record and is quietly building a $250 million empire designed to survive long after football ends.
Egyptian billionaire Naguib Sawiris joins the $2 million pre-seed round of UAE fintech Sovra as an early backer
Egyptian billionaire Naguib Sawiris has joined a $2 million pre-seed round in UAE fintech Sovra, a self-custodial global dollar account platform.
Morocco's billionaire prime minister is fighting bills to cap fuel prices in his own industry
Morocco's billionaire Prime Minister Aziz Akhannouch is opposing opposition bills to cap fuel prices and nationalise the Samir refinery in a market he controls through Afriquia.
Hassan Allam commits $400 million to Egypt data centre project
Hassan Allam Digital Infrastructure has signed a $400 million deal with Egypt's telecoms regulator to build a data centre complex serving government, financial and cloud computing clients.
Saudi billionaire Abdulrahman Sharbatly's Golden Pyramids Plaza posts an 89% profit drop in Egypt
Saudi billionaire Abdulrahman Sharbatly's Golden Pyramids Plaza posted an 89% year-on-year profit collapse in Q1 2026 to $4.9 million despite revenues holding near $25.4 million.
Ahmed Abou Hashima bet $1 billion on Egyptian steel at 35 and became one of Egypt's most powerful industrialists
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Egyptian billionaire Naguib Sawiris is opening a 93-room five-star resort in Mykonos after his first hotel shut down
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Egyptian fintech entrepreneur Mounir Nakhla's MNT-Halan hits $1.4 billion valuation
Egypt's MNT-Halan has hit a $1.4 billion valuation after Al Ahly Capital led a new funding round marking the first time a commercial bank has taken an equity stake in the fintech unicorn.
Cameroonian banking billionaire Paul Fokam launches Africa Diamond Invest securities firm in Togo
Cameroonian billionaire Paul Kammogne Fokam's Afriland First Holding has launched Africa Diamond Invest, a new securities firm targeting West African financial markets from a Lomé base.
Nigerian billionaire Ladi Jadesimi will pocket $5.5 million from Aradel Holdings as the company posts its most profitable year ever
Ladi Jadesimi's 5.27 percent stake in Aradel Holdings will earn him N7.5 billion in total dividends for 2025 after the company posted record profits.
Nigerian energy group Aradel Holdings posts $552 million profit in 2025
Aradel Holdings has posted N757.3 billion profit after tax for FY 2025, up 192%, as landmark acquisitions fundamentally reset the scale of Nigeria's leading indigenous energy group.
Ivorian tycoon Jean Kacou Diagou's NSIA Group secures $34.2 million from UK development finance to expand SME lending
Jean Kacou Diagou's NSIA Banque Côte d'Ivoire has signed a €30 million facility with British International Investment to expand SME lending across the country.
Billionaire Femi Otedola owns more of FirstHoldCo than fellow bank chairmen Elumelu, Aig-Imoukhede or Ovia ever did
Femi Otedola now owns 20.42 percent of FirstHoldCo, more than any sitting Nigerian banking chairman, and the comparison with Elumelu, Aig-Imoukhede and Ovia tells a compelling story.
MTN Nigeria CFO Modupe Kadri spends $760,000 to buy more shares in a vote of confidence in the telecom giant
MTN Nigeria CFO Modupe Kadri has acquired 1.3 million shares worth N1.03 billion in a personal bet on the telecom giant's long-term growth.
Billionaire Femi Otedola buys 680 million more FirstHoldCo shares and tightens his grip with a 20.42 percent stake
Femi Otedola has acquired approximately 680 million FirstHoldCo shares through its recently completed N45 billion private placement, lifting his total stake to 20.42 percent.
Liberian-American multimillionaire Richelieu Dennis is sued for defamation by the former CEO of his Essence Ventures
Caroline Wanga has filed a defamation lawsuit against Liberian entrepreneur Richelieu Dennis, alleging he let a false narrative destroy her reputation after the 2025 Essence Festival.
Kenyan tycoon TK Muya's Family Bank wins regulatory approval for its long-awaited NSE listing
Family Bank has received Capital Markets Authority approval to list on the Nairobi Securities Exchange on June 23 after raising KES 8 billion ($61.8 million) in 2025.
Adil Popat's Simba Corp commits $7.7 million to Kenya electric vehicle assembly line
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WPP crushes Kenyan entrepreneur Bharat Thakrar's bid to reclaim Scangroup at AGM
WPP Plc used its 56.26% controlling stake to defeat Bharat Thakrar's attempt to oust the entire WPP Scangroup board at Monday's annual general meeting in Nairobi.
Kenyan billionaire Vimal Shah and ex-CBK governor lose $15 million Tatu City battle at Privy Council
Bidco Africa chairman Vimal Shah and former CBK governor Nahashon Nyagah have lost their two-decade fight to retain a stake in Kenya's Sh240 billion Tatu City development.
Jeff Bezos takes on Elon Musk in Kenya with Amazon Kuiper satellite internet bid
Amazon Kuiper Kenya has applied for a satellite internet licence in Kenya, putting Jeff Bezos on a direct collision course with Elon Musk's Starlink in East Africa.
Madagascar multimillionaire Mamy Ravatomanga loses control of his Sodiat empire to courts
Madagascar courts have seized control of Sodiat Group's subsidiaries as founder Mamy Ravatomanga remains jailed in Mauritius facing money laundering and corruption charges.
Kenyan billionaire Gideon Moi used his newspaper to mock Ruto and the president's allies hit back hard
Kenya's Moi family business empire is again at the centre of a fresh political clash after The Standard published a headline mocking President William Ruto.
Merali family's Sasini terminates $61 million Kenyan coffee estate sale after buyer defaults
Sasini Plc, majority owned by Kenya's Merali family, has cancelled the planned Sh7.9 billion sale of its Gulmarg coffee estate after the buyer failed to meet contractual obligations.
Controversial Zimbabwean businessman Wicknell Chivayo receives Eswatini citizenship from King Mswati III
Zimbabwean businessman Wicknell Chivayo has been granted Eswatini citizenship and a diplomatic passport by King Mswati III following a private audience at the Royal Palace.
A brief history of time: the life of Robert Gumede, the South African billionaire rescuing Tongaat Hulett
Robert Gumede went from caddying golf courses to building South Africa's biggest black-owned IT company. Now he is staking his reputation on rescuing Tongaat Hulett.
Angolan billionaire Agostinho Kapaia announces plans to bring OPAIA Group into Mozambique
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Kenya's government denies Wicknell Chivayo has any role in the $2.9 billion airport expansion deal
Kenya's Transport minister has formally denied that Wicknell Chivayo's company had any role in the KSh375 billion JKIA airport expansion contract awarded this month.
Namibian tycoon Quinton van Rooyen's Trustco faces a formal legal demand to replace its entire board
Quinton van Rooyen's Trustco Group has received a formal legal demand from a major shareholder to convene a meeting and replace its entire board.
Robert Gumede's Vision Group seals a deal with the IDC that saves Tongaat Hulett from liquidation
Robert Gumede's Vision Group and South Africa's IDC have sealed a rescue deal that averted the liquidation of 134-year-old sugar producer Tongaat Hulett hours before a court hearing.
Angolan oil tycoon Alberto Almeida de Sousa is searching for a deepwater partner to seal his Chevron block deal
Alberto Almeida de Sousa's Etu Energias is seeking a deepwater operating partner to satisfy technical requirements after pre-empting Chevron's $260 million Angola block sale to Energean.
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.
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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.
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African Wealth Briefing — Sat., June 20, 2026
Femi Otedola tightens his grip on FirstHoldCo to 20.42%. The first cracks appear in the Musk trillionaire story as SpaceX slides.
Cameroonian banking billionaire Paul Fokam launches Africa Diamond Invest securities firm in Togo
Cameroonian billionaire Paul Kammogne Fokam's Afriland First Holding has launched Africa Diamond Invest, a new securities firm targeting West African financial markets from a Lomé base.
Nigerian billionaire Ladi Jadesimi will pocket $5.5 million from Aradel Holdings as the company posts its most profitable year ever
Ladi Jadesimi's 5.27 percent stake in Aradel Holdings will earn him N7.5 billion in total dividends for 2025 after the company posted record profits.
Nigerian energy group Aradel Holdings posts $552 million profit in 2025
Aradel Holdings has posted N757.3 billion profit after tax for FY 2025, up 192%, as landmark acquisitions fundamentally reset the scale of Nigeria's leading indigenous energy group.
Controversial Zimbabwean businessman Wicknell Chivayo receives Eswatini citizenship from King Mswati III
Zimbabwean businessman Wicknell Chivayo has been granted Eswatini citizenship and a diplomatic passport by King Mswati III following a private audience at the Royal Palace.
Ivorian tycoon Jean Kacou Diagou's NSIA Group secures $34.2 million from UK development finance to expand SME lending
Jean Kacou Diagou's NSIA Banque Côte d'Ivoire has signed a €30 million facility with British International Investment to expand SME lending across the country.
South Africa's Absa Group launches $238.6 million bid to raise its stake in Absa Bank Kenya to 85 percent
South Africa's Absa Group has launched a $238.6 million tender offer to raise its stake in Absa Bank Kenya from 68.5 percent to 85 percent.
Kenyan-Mexican star Lupita Nyong'o built a $10 million fortune from one Oscar
Lupita Nyong'o won an Academy Award in her first major film and parlayed it into a beauty, book and blockbuster empire worth millions.
Deshaun Watson is worth $230 million and has played in just 19 NFL games
Deshaun Watson signed the largest guaranteed contract in NFL history at $230 million, played 19 games across four years, and left the Cleveland Browns with a debt they cannot escape.
Shonda Rhimes earned $350 million from television and ABC never once paid her fairly
Shonda Rhimes generated $2 billion for ABC, signed a $300 million Netflix deal and built a $240 million fortune. She had to fight ABC for a fair salary through all of it.
The Inside Story: The Petrol Premier
Morocco’s billionaire prime minister is fighting bills to cap fuel prices in a market his own company dominates — reviving the oldest question about him.
Deep-Dive Report: Mohammed Dewji — The Turnaround Machine
East Africa’s only billionaire built a roughly $2.1 billion fortune buying what others had given up on — and fixing it. Inside the METL playbook, the man, and the ordeal that tested both.
Wealth Intelligence: Mike Adenuga — The Quiet Colossus
Nigeria’s most private billionaire built a fortune of roughly $6.5 billion on telecoms and oil — and tells almost no one how. A full read of an empire that hides in plain sight.
Billionaire Femi Otedola owns more of FirstHoldCo than fellow bank chairmen Elumelu, Aig-Imoukhede or Ovia ever did
Femi Otedola now owns 20.42 percent of FirstHoldCo, more than any sitting Nigerian banking chairman, and the comparison with Elumelu, Aig-Imoukhede and Ovia tells a compelling story.
A brief history of time: the life of Robert Gumede, the South African billionaire rescuing Tongaat Hulett
Robert Gumede went from caddying golf courses to building South Africa's biggest black-owned IT company. Now he is staking his reputation on rescuing Tongaat Hulett.
