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Nigerian tycoon Wale Babalakin writes off a N132 billion airport debt and hands back MMA1 to the government in a deal that finally ends a 20-year fight over Lagos's private terminal
Wale Babalakin's Bi-Courtney has written off a N132 billion judgment debt and returned MMA1 to the government, ending a 20-year dispute over Lagos's MMA2 private airport terminal.
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Residents of Jamestown, the old community hemmed in by Stellenbosch's billionaire estates, march against a mayor who didn't show up to collect their petition
Residents of Jamestown, a historic community inside South Africa's wealthiest municipality, marched on May 1 against gentrification and municipal neglect as the mayor failed to show up for their petition.
Discovery founder Adrian Gore joins Business Leadership South Africa board
Discovery founder and CEO Adrian Gore has been appointed to the new Business Leadership South Africa board as the organisation enters a fresh three-year cycle with new members.
Ghanaian billionaire Ibrahim Mahama's Damang Mine delivers its first 110 kilograms of gold directly to Ghana's central bank
Ibrahim Mahama's Damang Gold Mine has sold its first 110 kilograms of output to Ghana's Gold Board for the central bank's reserves, weeks after taking over the mine from Gold Fields.
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Wealth Intelligence: Mike Adenuga — The Most Opaque Continuity Plan in African Wealth
Mike Adenuga turned 73. He has positioned Bella Disu as his successor — but the rest of his empire remains the most opaque continuity plan among Africa's top fortunes. We map the holdings and what the market still does not know.
The Sawiris Exit: What Africa’s Richest Man Leaving London Tells Us About Where Billionaire Wealth Is Moving
Nassef Sawiris has closed his London family office, completing a two-year exit triggered by the end of the non-dom tax status. We map the full timeline, what it means for every African UHNWI with London structures, and where billionaire wealth is moving.
Exclusive Briefing: Where Does $17 Billion Go? The Kirsh Repatriation Question and What It Means for Southern African Capital Markets
Nathan Kirsh is about to become the most liquid billionaire Africa has ever produced. The $29.1 billion Sysco deal will generate approximately $17 billion in personal proceeds — and the question every private bank in southern Africa is asking is where it goes.
Egyptian billionaire Sawiris family-linked HOF Capital buys Porsche's Bugatti stake in a deal valuing the brand above $1 billion
HOF Capital, co-founded by Onsi Sawiris of Egypt's billionaire Sawiris dynasty, has led a consortium to buy Porsche's full 45% stake in Bugatti Rimac.
Moroccan tycoon Yariv Elbaz's Forafric is selling its flour business to billionaire Chakib Alj while announcing it wants to pivot to drones and AI
Nasdaq-listed Forafric is selling control of its Moroccan flour business to billionaire Chakib Alj while announcing a drone and AI pivot, one year after a formal going concern warning.
Algeria's richest man Issad Rebrab's Cevital is being sued in France over Brandt's liquidation
About 60 former Brandt employees plan to sue Cevital in 2 French courts in May, calling their dismissals abusive and seeking civil damages from Algeria's biggest private company.
How Algerian billionaire Issad Rebrab's $400 million steelworks gamble in Italy collapsed and took his Brazil iron ore dream down with it
Issad Rebrab bought a struggling Italian steelworks in 2015 and planned a $400 million revival. Three years later, he sold it and his Brazil iron ore plan collapsed with it.
Billionaire Naguib Sawiris pours another $400 million into gold as geopolitical tensions push him to cut Egypt real estate
Naguib Sawiris has added $400 million to his gold investments since the start of the current geopolitical tensions, while cutting Egypt real estate and expanding in the UAE.
Egyptian billionaire Nassef Sawiris formally closes his London family office, completing a UK exit triggered by the end of the non-dom tax status
Nassef Sawiris has formally closed his London family office NNS Advisers, completing a multi-step UK departure triggered by the end of the non-dom tax regime.
Moroccan billionaire Othman Benjelloun opens Morocco's tallest tower in Sale after 8 years of construction
Morocco's tallest building, a $700 million rocket-shaped skyscraper backed by billionaire Othman Benjelloun, has opened in Sale after 8 years of construction.
Egyptian billionaire Samih Sawiris teams up with Emirati investors to deploy $235 million into a coastal tourism megaproject in Morocco's Essaouira
Egyptian billionaire Samih Sawiris has joined UAE-based Al Nowais Investments and Egypt's Sunrise Group to deploy $235 million into a coastal tourism project in Essaouira, Morocco.
Ghanaian billionaire Ibrahim Mahama's Damang Mine delivers its first 110 kilograms of gold directly to Ghana's central bank
Ibrahim Mahama's Damang Gold Mine has sold its first 110 kilograms of output to Ghana's Gold Board for the central bank's reserves, weeks after taking over the mine from Gold Fields.
Nigerian tycoon Wale Babalakin writes off a N132 billion airport debt and hands back MMA1 to the government in a deal that finally ends a 20-year fight over Lagos's private terminal
Wale Babalakin's Bi-Courtney has written off a N132 billion judgment debt and returned MMA1 to the government, ending a 20-year dispute over Lagos's MMA2 private airport terminal.
Access Holdings posts record N743bn profit in FY2025
Access Holdings posted a record N743 billion profit in 2025, up 16% from the prior year, with FX gains and pan-African acquisitions driving a result that made it an outlier among Nigeria's biggest banks.
Senegalese billionaire Yérim Sow's Bridge Bank targets Guinea Conakry with a 2027 subsidiary as his Teyliom Group pushes deeper into West Africa's mining corridor
Yérim Sow's Bridge Bank Group Côte d'Ivoire plans to launch a subsidiary in Guinea Conakry by 2027, extending the Teyliom Group lender's West African footprint into one of Africa's richest mining economies.
Nigeria's 2nd richest man Abdul Samad Rabiu gains N2.7 trillion this week from BUA Cement shares
BUA Cement shares surged 24.8% in 4 trading days, adding N2.7 trillion ($1.95 billion) to Abdul Samad Rabiu's stake value after Q1 profit more than doubled to N176 billion.
Nigerian billionaire Arthur Eze loses another license as South Sudan strips Oranto Petroleum of Block B3 for failing to drill or pay
South Sudan has declined to renew Oranto Petroleum's Block B3 licence after Arthur Eze's company failed to conduct seismic surveys, drill a single well or meet financial obligations since 2017.
Billionaire Abdul Samad Rabiu's BUA Foods grows profit to $103 million in Q1 2026 even as revenue falls 11%
BUA Foods posted $103 million profit in Q1 2026, up from $99 million a year earlier, even as revenue fell 11%, with cost control doing the heavy lifting.
Nigerian billionaire Aliko Dangote’s Dangote Cement posts $233 million profit in Q1 2026
Dangote Cement posted $234 million profit in Q1 2026, up 53% from a year earlier, as volumes rose to 7.47 million tonnes and pan-African losses shrank dramatically.
Patrick Bitature's "hotels are just a laundry business" comment backfires as Ugandans remind him of his unresolved $10 million debt dispute
Patrick Bitature called hotels a "laundry business" in a viral video and was immediately met with scepticism from Ugandans who pointed to his unresolved $10 million debt dispute over hotel assets.
Nigerian businesswoman Kofo Akinkugbe's SecureID opens East Africa's first smart card factory, commits $20 million to expansion
SecureID Kenya founder Kofo Akinkugbe has opened East Africa's first smart card factory in Nairobi, pledging $20 million and 400 jobs as operations scale.
Tanzanian billionaire Edha Nahdi commits $35 million to build 10 mother-and-child hospitals across Kenya in the largest private-sector health grant in the country's history
Tanzanian billionaire Edha Nahdi has pledged $35 million to build 10 Level 4 mother-and-child hospitals across Kenya in the largest private health grant in the country's history.
Court freezes David Langat's land in Kericho, Eldoret and Nandi over Sh87 million vehicle loan debt that the Ruto ally has been dodging since 2016
A Kenyan court has frozen 3 land parcels belonging to David Langat and his spouse after a creditor sued to recover Sh87 million in vehicle loans that have gone unpaid since 2016.
Hassanein Hiridjee's Axian Group buys five Letshego units in pan-African banking push
Madagascar billionaire Hassanein Hiridjee's Axian Group is buying five Letshego banking subsidiaries in Ghana, Tanzania, Nigeria, Rwanda and Uganda, deepening its pan-African banking footprint.
James Mwangi named CEO of the Year as Equity Bank sweeps 2026 Kenya banking awards
Equity Bank's James Mwangi has been crowned Overall CEO of the Year, with the lender sweeping 10 categories at Kenya's 2026 Think Business Banking Awards.
Indian billionaire Gautam Adani is building an African port empire but a US bribery indictment has already cost him Kenya's biggest airport and $2.5 billion in deals
Adani Group controls Tanzania's biggest container terminal and is eyeing South Africa's ports, but a US bribery indictment already derailed $2.5 billion in Kenya deals.
Kenya's Co-op Bank, controlled by Gideon Muriuki, restructures into holding company for expansion
Co-operative Bank of Kenya plans to restructure into a holding company called Co-opbank Group PLC, separating its banking operations from group activities as it eyes regional expansion.
Residents of Jamestown, the old community hemmed in by Stellenbosch's billionaire estates, march against a mayor who didn't show up to collect their petition
Residents of Jamestown, a historic community inside South Africa's wealthiest municipality, marched on May 1 against gentrification and municipal neglect as the mayor failed to show up for their petition.
Discovery founder Adrian Gore joins Business Leadership South Africa board
Discovery founder and CEO Adrian Gore has been appointed to the new Business Leadership South Africa board as the organisation enters a fresh three-year cycle with new members.
South African billionaire Sandile Zungu, ex-Glencore trader Jason Kluk to take over Sumitomo's failed Madagascar nickel mine
Former Glencore nickel trader Jason Kluk and South African billionaire Sandile Zungu are acquiring Sumitomo's 54% stake in Madagascar's Ambatovy nickel mine, which has cost the Japanese company $2.6 billion in cumulative losses.
UAE-based African Rail is raising $170 million to run freight trains on South Africa's broken rail network
UAE-based African Rail Co. is raising $170 million to buy locomotives and wagons for South Africa's newly privatized freight rail network, targeting the Durban and Mozambique corridors.
South African tycoon Tshepo Mahloele will collect $22 million from Capitec's record dividend
Tshepo Mahloele will collect $22 million from Capitec's record R9.27 billion dividend, despite recently selling $840 million worth of shares and cutting his stake to 3.85%.
Gauteng's ultra-wealthy are keeping their Johannesburg mansions and buying R60 million Cape Town retreats rather than choosing between the two cities
Gauteng's ultra-wealthy are not choosing between Johannesburg and Cape Town. They are keeping R20-R40 million Joburg primary homes and buying R60 million coastal retreats alongside them.
South African billionaire Koos Bekker loses $500 million as Naspers and Prosus slide 24% this year
Koos Bekker has lost nearly $500 million in 2026 as Naspers and Prosus shares fell more than 24%, erasing a January peak.
South African banking giant Absa Group's Kenny Fihla earns $7.6 million in first year as CEO
Absa Group CEO Kenny Fihla received R128 million ($7.6 million) in total remuneration in 2025, with buyout awards replacing forfeited Standard Bank incentives making up the bulk of the package.
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.
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.
Ethiopia’s richest man Mohammed Al-Amoudi sees wealth rebound past $8.1 billion
Mohammed Al-Amoudi’s net worth rebounds to more than $8.1 billion after a $2.42 billion gain tied to his stake in Preem.
Somali e-visa controversy: Ismail Ahmed points to Premier Bank involvement
Ismail Ahmed claims Premier Bank helped design Somalia’s e-visa system and benefits from visa fees through Empire Tech Solutions.
Ahmed Osman Guelleh, one of Djibouti's richest men, recalibrates for a tougher market
Ahmed Osman Guelleh built a logistics and beverage empire around Djibouti’s ports and Somaliland’s Coca-Cola plant. Now competition is testing his hold.
Somali businessman Abdiweli Hassan to invest $503 million in Kenya’s Tatu City
Somali businessman Abdiweli Hassan plans a $503 million mixed-use project at Kenya’s Tatu City, expanding his footprint from retail into urban development.
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African Wealth Briefing — Sat., May 2, 2026
Yérim Sow's Bridge Bank moves into Guinea Conakry, Ralph Mupita takes home a record R99 million as MTN credits Nigeria for its strongest year in decades, and Ibrahim Mahama pays the first $2 million of his $5 million Black Stars pledge.
Residents of Jamestown, the old community hemmed in by Stellenbosch's billionaire estates, march against a mayor who didn't show up to collect their petition
Residents of Jamestown, a historic community inside South Africa's wealthiest municipality, marched on May 1 against gentrification and municipal neglect as the mayor failed to show up for their petition.
Discovery founder Adrian Gore joins Business Leadership South Africa board
Discovery founder and CEO Adrian Gore has been appointed to the new Business Leadership South Africa board as the organisation enters a fresh three-year cycle with new members.
Ghanaian billionaire Ibrahim Mahama's Damang Mine delivers its first 110 kilograms of gold directly to Ghana's central bank
Ibrahim Mahama's Damang Gold Mine has sold its first 110 kilograms of output to Ghana's Gold Board for the central bank's reserves, weeks after taking over the mine from Gold Fields.
Nigerian tycoon Wale Babalakin writes off a N132 billion airport debt and hands back MMA1 to the government in a deal that finally ends a 20-year fight over Lagos's private terminal
Wale Babalakin's Bi-Courtney has written off a N132 billion judgment debt and returned MMA1 to the government, ending a 20-year dispute over Lagos's MMA2 private airport terminal.
South African billionaire Sandile Zungu, ex-Glencore trader Jason Kluk to take over Sumitomo's failed Madagascar nickel mine
Former Glencore nickel trader Jason Kluk and South African billionaire Sandile Zungu are acquiring Sumitomo's 54% stake in Madagascar's Ambatovy nickel mine, which has cost the Japanese company $2.6 billion in cumulative losses.
Access Holdings posts record N743bn profit in FY2025
Access Holdings posted a record N743 billion profit in 2025, up 16% from the prior year, with FX gains and pan-African acquisitions driving a result that made it an outlier among Nigeria's biggest banks.
Nigerian energy tycoon Olakunle Williams' Tetracore Energy starts power generation at Atakobo IPP, delivering 20MW to Ogun State industries
Tetracore Energy Group has commenced power generation at its Atakobo IPP in Ogun State, delivering 20MW in Phase I of a 100MW gas-to-power project.
Olakunle Williams just got Tetracore Energy certified across every major international standard
Olakunle Williams's Tetracore Energy Group has achieved simultaneous ISO certification across quality, environment and occupational health and safety at multiple Nigerian sites, verified by Bureau Veritas.
Sentry investigation reveals £17.7 million Dubai property portfolio linked to Sudan's RSF leadership
A new Sentry investigation says people linked to Sudan's RSF leader Mohamed Hamdan Dagalo have amassed more than 20 Dubai properties worth £17.7 million.
Senegalese billionaire Yérim Sow's Bridge Bank targets Guinea Conakry with a 2027 subsidiary as his Teyliom Group pushes deeper into West Africa's mining corridor
Yérim Sow's Bridge Bank Group Côte d'Ivoire plans to launch a subsidiary in Guinea Conakry by 2027, extending the Teyliom Group lender's West African footprint into one of Africa's richest mining economies.
Ralph Mupita earns a record R99 million as MTN credits Nigeria for driving its strongest year in decades
MTN Group CEO Ralph Mupita earned a record R99.3 million in 2025, a 53% increase, as Nigeria's dramatic turnaround powered the group's strongest year in decades.
Ye builds his own 60,000-seat stadium in Albania as European countries block tour stops
Rapper Ye is building a 60,000-seat 'Eagle Stadium' in Albania for a July tour stop after the UK, France, Poland and Switzerland blocked his shows.
UAE-based African Rail is raising $170 million to run freight trains on South Africa's broken rail network
UAE-based African Rail Co. is raising $170 million to buy locomotives and wagons for South Africa's newly privatized freight rail network, targeting the Durban and Mozambique corridors.
Ghanaian billionaire Ibrahim Mahama just paid the first $2 million of his $5 million pledge to get Ghana to the 2026 World Cup
Ibrahim Mahama's Engineers and Planners has disbursed $2 million of its $5 million pledge to Ghana's Black Stars World Cup fundraising campaign, the largest single corporate commitment to the drive.
South African tycoon Tshepo Mahloele will collect $22 million from Capitec's record dividend
Tshepo Mahloele will collect $22 million from Capitec's record R9.27 billion dividend, despite recently selling $840 million worth of shares and cutting his stake to 3.85%.
