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Nigerian billionaire Aliko Dangote could get $10 billion from Afreximbank, bank chief says
Afreximbank President George Elombi said the lender would readily put $10 billion behind Aliko Dangote's projects, calling him a client who always repays.
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Chinese billionaire Yahui Zhou's OPay halted its $304 million IPO over Beijing inquiry
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Kenyan tycoon Baloobhai Patel's Carbacid lifts profit 12% to $8.7 million
Carbacid Investments, 49.9% owned by Kenyan investor Baloobhai Patel, raised annual profit 12.2% to Sh1.13 billion and held its dividend at Sh2 a share.
Nigerian-Greek star Giannis Antetokounmpo is the NBA's second-highest earner at $108.5 million
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Deep-Dive Report: The November Rich List — How Dangote Pulled $24 Billion Ahead, Why Rupert Fell, and What Moves Africa's Ten Largest Fortunes
Africa's ten richest are worth $142.5 billion, up $21.2 billion since September, and Aliko Dangote accounts for 39% of it. The other nine together lost ground. A name-by-name deep-dive on what drives each fortune, why the estimates differ, and what could move the list next.
The Inside Story: The Banker of the Sahel — How Idrissa Nassa Turned a Struggling Ouagadougou Lender Into a $9 Billion Group, and What His Push Into Central Africa Will Test
Idrissa Nassa started out trading bicycle parts in 1984. In 2001 he bought a struggling Burkinabe lender, and today Coris has about $9 billion in assets and a share price up 196% this year. How the trader built the bank, and what his move into Central Africa will test.
Wealth Intelligence: The Heirs — How the Rupert, Oppenheimer and Le Roux Families Are Passing On $30 Billion, and What Succession Means for Richemont, Capitec and South African Capital
Johann Rupert is 76, Nicky Oppenheimer 81 and Michiel le Roux 77. Between them they control about $30 billion, and each family is handing over in a different way. How the structures work, what the heirs have done, and what succession means for Richemont, Capitec and their investors.
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.
Egyptian billionaire Nassef Sawiris' Aston Villa commits to Unai Emery beyond 2029
Egyptian billionaire Nassef Sawiris's Aston Villa says it has a clear commitment from manager Unai Emery beyond 2029, after interest from Manchester United.
Egyptian billionaire Mohamed Mansour's $150 million electric car plant to open in 2027
Egyptian billionaire Mohamed Mansour's group expects to finish its electric-vehicle plant near Cairo by early 2027, as his Right to Dream academy partners with Egypt.
Egyptian billionaire Nassef Sawiris wins shareholder approval to merge OCI with Orascom Construction
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Egyptian billionaire Ahmed Elsewedy's Elsewedy Electric moves into elevators
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Egyptian billionaire Nassef Sawiris wins apology from TV pundit Jamie Carragher
TV pundit Jamie Carragher apologized to Aston Villa, its owners and fans less than 24 hours after Egyptian billionaire Nassef Sawiris threatened legal action.
Egyptian pharma tycoon Ahmed Abu Al-Naga sells half of ATCO for $50 million
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Nigerian-Greek star Giannis Antetokounmpo is the NBA's second-highest earner at $108.5 million
Giannis Antetokounmpo, the Nigerian-Greek forward now with the Miami Heat, is projected to earn $108.5 million this NBA season, second only to Stephen Curry.
Nigerian billionaire Aliko Dangote could get $10 billion from Afreximbank, bank chief says
Afreximbank President George Elombi said the lender would readily put $10 billion behind Aliko Dangote's projects, calling him a client who always repays.
Aliko Dangote raises Africa investment target to $60 billion as he breaks ground on $2.5 billion Namibia fuel hub
Aliko Dangote raised his Africa investment target to $60 billion by 2030 and broke ground on a $2.5 billion fuel project in Namibia.
Nigerian billionaire Abdul Samad Rabiu donates $183,000 building to Sokoto university
ASR Africa, the foundation of Nigerian billionaire Abdul Samad Rabiu, has handed over a ₦250 million administrative building to a medical college in Sokoto.
Nigerian businessman Atedo Peterside says President Tinubu's reforms make the rich richer
Atedo Peterside, the founder of Stanbic IBTC, says President Bola Tinubu's reforms are making wealthy Nigerians richer while the country's poor fall further behind.
Nigerian billionaires Dangote and Rabiu's cement firms spend $584 million on energy
Dangote Cement and BUA Cement spent ₦797.1 billion on energy in nine months, as BUA Cement secures a permit to generate its own electricity.
Nigerian tycoon Aderemi Makanjuola's Caverton rebounds 10% after 36% slide
Caverton Offshore Support Group, controlled by Nigerian tycoon Aderemi Makanjuola, bounced 9.84% on Wednesday after a 36% slide that followed its nine-month loss.
Ghanaian waste tycoon Joseph Siaw Agyepong signs deal to clean up Guinea's capital
Ghanaian tycoon Joseph Siaw Agyepong's Zoomlion has signed a deal to modernize waste collection in Conakry, Guinea's capital, a week after a Gambia contract.
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.
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.
Aliko Dangote raises Africa investment target to $60 billion as he breaks ground on $2.5 billion Namibia fuel hub
Aliko Dangote raised his Africa investment target to $60 billion by 2030 and broke ground on a $2.5 billion fuel project in Namibia.
South African tycoon Tshepo Mahloele's Lebashe sees iOCO stake fall to 14.4%
Lebashe Investment Group, chaired by South African tycoon Tshepo Mahloele, now owns 14.36% of tech services firm iOCO, down from 17% a year earlier.
South African billionaire Johann Rupert warns global uncertainty is here to stay
Remgro chairman Johann Rupert says global uncertainty will no longer come in passing waves and that South Africa needs policy certainty and faster decisions.
South African Newmont CEO Natascha Viljoen gives up 25,780 shares worth $2.9 million
Newmont CEO Natascha Viljoen disposed of 25,780 shares worth about $2.9 million as stock awards vested and a sale under her trading plan went through.
South African auto mogul Jebb McIntosh dies at 80, leaving $59 million stake
Jebb McIntosh, co-founder and chief executive of South African car dealer Combined Motor Holdings, has died at 80, leaving a stake worth about $59 million.
South African billionaire Christo Wiese's Shoprite faces revolt over $7 million CEO pay
Shoprite, where billionaire Christo Wiese controls about 41% of the votes, faces a binding pay vote after its CEO's package jumped to R117.8 million.
South Africa's van der Walt brothers' WeBuyCars stake falls to $41 million
South African brothers Faan and Dirk van der Walt's remaining WeBuyCars stake has fallen to about $41.5 million as the shares lost 41% this year.
South African billionaire Patrice Motsepe's GoTyme bank targets 30 million customers by 2036
GoTyme, the digital lender backed by South African billionaire Patrice Motsepe, aims to overtake Capitec as the country's biggest bank by customers by 2036.
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.
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Nigerian billionaire Aliko Dangote could get $10 billion from Afreximbank, bank chief says
Afreximbank President George Elombi said the lender would readily put $10 billion behind Aliko Dangote's projects, calling him a client who always repays.
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Aliko Dangote raises Africa investment target to $60 billion as he breaks ground on $2.5 billion Namibia fuel hub
Aliko Dangote raised his Africa investment target to $60 billion by 2030 and broke ground on a $2.5 billion fuel project in Namibia.
Morocco's royal holding Al Mada leads $12 million round in AI startup Journify
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American billionaire Martine Rothblatt's United Therapeutics posts record $832.5 million third-quarter revenue
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Priscilla Chan, wife of billionaire Mark Zuckerberg, tops $100 million in Hawaii giving
Priscilla Chan marked 10 years of giving on Kauai, where she and Mark Zuckerberg have committed more than $100 million to local groups since 2016.
Australian iron ore billionaire Alexandra Burt gives $84 million to environmental groups
Alexandra and Julian Burt, heirs to one of Australia's oldest iron ore fortunes, are giving more than A$120 million to 10 conservation and environmental groups.
Indian beauty billionaire Falguni Nayar's Nykaa posts 207% jump in second-quarter profit
Nykaa, the Indian beauty and fashion retailer founded by billionaire Falguni Nayar, tripled its second-quarter profit as revenue passed ₹3,000 crore for the first time.
Israeli-American billionaire Miriam Adelson sells Dallas Mavericks stake to daughter and son-in-law, who now control the $3.5 billion team
Miriam Adelson sold her Dallas Mavericks stake to daughter Sivan Ochshorn and son-in-law Patrick Dumont, giving them 69% of a team bought at $3.5 billion.
Elon Musk's SpaceX lenders sell pieces of $40 billion chip deal
Goldman Sachs and Apollo are selling portions of a $40 billion financing that will pay for Nvidia AI chips leased to Elon Musk's SpaceX.
