Featured
Zimbabwean billionaire Strive Masiyiwa eyes South Africa and Kenya for AI data centre expansion with Vodacom
Zimbabwean billionaire Strive Masiyiwa's Cassava Technologies is partnering with Vodacom on Egypt's $1 billion AI data centre project, with further expansion possible across Africa.
Editors' Picks
Georgian billionaire Bidzina Ivanishvili tied to centuries-old baobabs seized in South Africa
Five protected baobabs seized in Durban before export to Georgia have been linked to billionaire Bidzina Ivanishvili, as a criminal case against a landscaper proceeds.
Cameroonian billionaire Baba Danpullo's MTN fight moved out of Douala by Supreme Court
Cameroon's Supreme Court has stripped two Douala courts of the long-running cases between MTN Cameroon and Baba Danpullo's Bestinver group.
Moroccan billionaire Anas Sefrioui's Addoha cleared to join Saudi housing projects
Anas Sefrioui's Addoha has won approval from Saudi Arabia's National Housing Co. to act as a partner developer in Riyadh residential projects.
Exclusive Content For Paid Supporters
The Inside Story: The Planter — How Jean-Louis Billon Took Over His Father's SIFCA, Ran for President and Is Turning Palm Waste Into Power
Jean-Louis Billon took over the agribusiness group his father founded in 1964, served as trade minister and finished second in last year's presidential race. This week SIFCA opened a $256 million biomass plant. The story of the planter, his family's business and its tests.
Deep-Dive Report: After the Record IPO — Dangote's Refinery at 84%, the Crude It Needs, the Cost of Capital and What Happens When Trading Starts
Dangote's refinery IPO drew ₦6.4 trillion of orders for ₦2.15 trillion of shares, and his stake will fall to about 84%. Only about 3% of the company will trade. A deep-dive on the allotment, the crude supply, the cost of capital and what to expect when trading starts in December.
Wealth Intelligence: Who Owns Africa's Banks — Founders, Families and the New Shareholders Reshaping the Continent's Lenders, From Capitec to Afriland
Michiel le Roux's Capitec stake is worth $3.9 billion. The Kenyattas now own part of Nedbank, Paul Fokam has doubled Afriland's capital and Nigeria's bank chairmen have been buying. A guide to who owns Africa's banks, how ownership is changing, and what it means for investors.
Moroccan billionaire Anas Sefrioui's Addoha cleared to join Saudi housing projects
Anas Sefrioui's Addoha has won approval from Saudi Arabia's National Housing Co. to act as a partner developer in Riyadh residential projects.
Egyptian fintech tycoon Mounir Nakhla’s MNT-Halan more than doubles quarterly profit to $16 million in first results since IPO
Mounir Nakhla’s MNT-Halan more than doubled quarterly profit to EGP 836 million ($16 million) in its first results since listing on the Egyptian Exchange.
Moroccan wine tycoon Rita Zniber faces stepson's forgery complaint over $1.5 million debt
A decade after Brahim Zniber's death, a son from his first marriage is pressing a forgery complaint over debt notes his widow Rita relies on.
Egyptian billionaire Hisham Talaat Moustafa's TMG named world's best golf hospitality developer
Hisham Talaat Moustafa's TMG took a top World Golf Awards prize at its own Madinaty club, which was also named Africa's best golf course.
Egyptian billionaire Nassef Sawiris's Orascom clears $1.3 billion share issue for OCI merger
Orascom Construction will issue 97.2 million new shares to OCI N.V., nearly doubling its share count as Nassef Sawiris folds the two companies together.
Egyptian tycoon Medhat Khalil's Raya signs three cloud and cybersecurity deals
Raya Holding, the Egyptian group founded by tycoon Medhat Khalil, signed three cloud and cybersecurity agreements with Nutanix, EgyHosting and Egex Consultant.
Morocco's royal holding Al Mada leads $12 million round in AI startup Journify
Al Mada Ventures, backed by the investment holding of Morocco's royal family, led a $12 million Series A in advertising data startup Journify.
Egypt’s richest man Nassef Sawiris wins 99.85% vote to merge OCI and Orascom
Egypt’s richest man won near-unanimous approval to fold OCI into Orascom Construction, creating an Abu Dhabi investment group he will chair.
Cameroonian billionaire Baba Danpullo's MTN fight moved out of Douala by Supreme Court
Cameroon's Supreme Court has stripped two Douala courts of the long-running cases between MTN Cameroon and Baba Danpullo's Bestinver group.
Nigerian tycoon Aigboje Aig-Imoukhuede's Access to sell up to 25% of African units
Access Holdings, chaired by Aigboje Aig-Imoukhuede, plans to sell stakes of up to 25% in its African banks to meet a regulatory cap.
Nigerian billionaire Aliko Dangote's refinery IPO draws $4.3 billion in bids
Aliko Dangote's refinery drew ₦5.85 trillion in share applications from nearly 3.8 million investors, close to three times what the IPO sought.
Nigerian billionaire Aliko Dangote's refinery cuts diesel price by 6.5%
Aliko Dangote's refinery cut diesel by ₦120 a litre as falling crude prices pushed down petrol import costs and Nigeria's competition regulator warned fuel sellers.
Indian tycoon Sanjeev Mansotra's Planet One strikes gas in Ghana's Tano Basin
Planet One, controlled by Indian tycoon Sanjeev Mansotra, has made a gas and condensate discovery off Ghana, President John Mahama announced on Tuesday.
Nigerian billionaire Aliko Dangote's Dangote Cement scraps $1 billion London listing
Nigerian billionaire Aliko Dangote has shelved Dangote Cement’s planned $1 billion London listing, citing market conditions, in a setback for the London Stock Exchange.
Nigerian oil tycoon Austin Avuru's Seplat stake climbs to $586 million
Seplat Energy co-founder Augustine Avuru's 8.3% stake has climbed to ₦800.31 billion after the Nigerian oil producer's shares rose 175% this year.
Nigerian billionaire Aliko Dangote's $2.5 billion Namibia project is a gamechanger, PM says
Namibia's prime minister called Aliko Dangote's $2.5 billion Walvis Bay fuel project a gamechanger as the Nigerian billionaire lifted his Africa plan to $65 billion.
Absa exits Kenyan insurance as wealthy politician Musalia Mudavadi’s firm takes full control of two insurers
Absa has completed its exit from Kenyan insurance, handing two insurers to a firm majority owned by wealthy politician Musalia Mudavadi, which will rebrand them.
Kenya's wealthy Kinuthia family sees Quickmart IPO oversubscribed with $142 million in bids
Investors bid Sh18.4 billion for Quickmart's Sh15 billion share sale, securing a $37 million payout for the Kinuthia family that founded the chain.
Kenyan billionaire Narendra Raval’s $539 million Kitui cement plant to create 4,000 jobs
Kenyan President William Ruto valued Narendra Raval’s Kitui cement plant at Sh70 billion ($539 million) and said it will create 4,000 jobs.
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.
Zimbabwean billionaire Strive Masiyiwa eyes South Africa and Kenya for AI data centre expansion with Vodacom
Zimbabwean billionaire Strive Masiyiwa's Cassava Technologies is partnering with Vodacom on Egypt's $1 billion AI data centre project, with further expansion possible across Africa.
Late Zimbabwean businessman Wicknell Chivayo’s ex-wife and sister named co-executors of his estate as $25 million claim hangs over it
Zimbabwean tycoon Wicknell Chivayo’s sister and former wife were appointed co-executors of his estate, with six months to account and a $25 million claim pending.
How South African tycoon Adrian Gore's bath-time idea built insurance giant Discovery
Discovery founder Adrian Gore says the rewards-for-health idea behind Vitality came to him in the bath. It now reaches 50 million members.
South African billionaire Christo Wiese pushes through $10.2 million Shoprite CEO incentive despite pension fund revolt
South African billionaire Christo Wiese’s deferred shares carried a $10.2 million Shoprite CEO incentive plan that nearly half of ordinary shareholders opposed.
South African fintech Yoco, co-founded by tycoon Katlego Maphai, secures $100 million credit line
South African fintech Yoco, co-founded by Katlego Maphai, has secured a $100 million credit facility from Victory Park to fund cash advances to small businesses.
South African tycoon Stephen Saad's Aspen stake climbs to $599 million
Aspen Pharmacare co-founder Stephen Saad's 13% stake has climbed to R9.94 billion as analysts lift their average price target on the drugmaker to R175.
South African billionaire Christo Wiese's Virgin Active buys German gyms for $151 million
Virgin Active, the gym chain controlled by Christo Wiese's Brait, is paying €135 million for Holmes Place Germany and its 84,100 members.
South African billionaire Patrice Motsepe's ARM stake rises to $858 million
A 4.8% jump in African Rainbow Minerals on Monday lifted Patrice Motsepe's stake in the diversified miner to about R14.2 billion ($858 million).
Billionaire Mohammed Al-Amoudi to build stadium for Ethiopia's most successful football club
MIDROC, owned by Saudi-Ethiopian billionaire Mohammed Al-Amoudi, will fund a new stadium for Saint George, as sponsors pledge more than $3.1 million a season.
Ethiopian billionaire Mohammed Al-Amoudi's Nyala Insurance tops $6 million in profit
Nyala Insurance, the Ethiopian insurer co-founded by billionaire Mohammed Al-Amoudi, says annual profit passed 1 billion birr as paid-up capital topped 2 billion birr.
Somali tycoon Abdirashid Duale's Dahabshiil to sell Chinese carmaker Chery's cars in Somalia
Dahabshiil Motors, the car arm of Abdirashid Duale's Dahabshiil Group, has signed a deal to become an authorized dealer for China's Chery in Somalia.
Billionaire Mohammed Al-Amoudi accused of funding al-Qaeda in secret Pentagon report
A classified 2002 Pentagon report names billionaire Mohammed Al-Amoudi in an alleged money trail to Osama bin Laden, Swedish broadcaster SVT reports. He denies it.
Ethiopian billionaire Mohammed Al-Amoudi's failed refinery cost Morocco $7 billion
Mohammed Al-Amoudi bought Morocco's only refinery for 4 billion dirhams in 1997. It shut in 2015 owing over $4 billion and has never reopened.
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.
Latest Posts
Zimbabwean billionaire Strive Masiyiwa eyes South Africa and Kenya for AI data centre expansion with Vodacom
Zimbabwean billionaire Strive Masiyiwa's Cassava Technologies is partnering with Vodacom on Egypt's $1 billion AI data centre project, with further expansion possible across Africa.
Late Zimbabwean businessman Wicknell Chivayo’s ex-wife and sister named co-executors of his estate as $25 million claim hangs over it
Zimbabwean tycoon Wicknell Chivayo’s sister and former wife were appointed co-executors of his estate, with six months to account and a $25 million claim pending.
Georgian billionaire Bidzina Ivanishvili tied to centuries-old baobabs seized in South Africa
Five protected baobabs seized in Durban before export to Georgia have been linked to billionaire Bidzina Ivanishvili, as a criminal case against a landscaper proceeds.
Cameroonian billionaire Baba Danpullo's MTN fight moved out of Douala by Supreme Court
Cameroon's Supreme Court has stripped two Douala courts of the long-running cases between MTN Cameroon and Baba Danpullo's Bestinver group.
Moroccan billionaire Anas Sefrioui's Addoha cleared to join Saudi housing projects
Anas Sefrioui's Addoha has won approval from Saudi Arabia's National Housing Co. to act as a partner developer in Riyadh residential projects.
Nigerian tycoon Aigboje Aig-Imoukhuede's Access to sell up to 25% of African units
Access Holdings, chaired by Aigboje Aig-Imoukhuede, plans to sell stakes of up to 25% in its African banks to meet a regulatory cap.
How South African tycoon Adrian Gore's bath-time idea built insurance giant Discovery
Discovery founder Adrian Gore says the rewards-for-health idea behind Vitality came to him in the bath. It now reaches 50 million members.
American billionaire Sergey Brin's $100 million fight helps sink California wealth tax
California voters rejected a one-time 5% tax on billionaires after Google co-founder Sergey Brin spent more than $100 million fighting the measure.
American billionaires Dario and Daniela Amodei set for $18 billion each in IPO
Anthropic co-founders Dario and Daniela Amodei would each be worth about $18 billion at the IPO price, with the company targeting up to $1.4 trillion.
Indian billionaire Gautam Adani's group plans $120 billion investment over five years
Indian billionaire Gautam Adani's group plans to spend more than $120 billion over five years, mostly on energy, days after a $2.9 billion European deal.
Japanese billionaire Masayoshi Son's SoftBank posts $7 billion second-quarter loss
Japanese billionaire Masayoshi Son's SoftBank lost $7 billion in its fiscal second quarter after writing off advances on power equipment for US data centers.
French billionaires Vincent Bolloré and Xavier Niel oppose Rubis's $504 million share award
French billionaires Vincent Bolloré and Xavier Niel are opposing a €450 million share award to the managing partners of fuel distributor Rubis.
American billionaire Jay-Z remains world's richest musician as Paul McCartney joins billionaire ranks
American billionaire Jay-Z remains the world's richest musician with $2.8 billion, as former Beatle Paul McCartney joins the billionaire club with $1.4 billion.
Nigerian billionaire Aliko Dangote's refinery IPO draws $4.3 billion in bids
Aliko Dangote's refinery drew ₦5.85 trillion in share applications from nearly 3.8 million investors, close to three times what the IPO sought.
Nigerian billionaire Aliko Dangote's refinery cuts diesel price by 6.5%
Aliko Dangote's refinery cut diesel by ₦120 a litre as falling crude prices pushed down petrol import costs and Nigeria's competition regulator warned fuel sellers.
Indian tycoon Sanjeev Mansotra's Planet One strikes gas in Ghana's Tano Basin
Planet One, controlled by Indian tycoon Sanjeev Mansotra, has made a gas and condensate discovery off Ghana, President John Mahama announced on Tuesday.
