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Nigerian billionaire Abdulsamad Rabiu tops stock gains in 2025, beats Dangote
Abdul Samad Rabiu emerged as Nigeria’s biggest stock market winner in 2025, overtaking Aliko Dangote as soaring share prices lifted billionaire fortunes.
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Nigerian billionaire Folorunsho Alakija awards $215,000 in grants to women entrepreneurs
Folorunsho Alakija’s Flourish Africa chose 100 women for 3 million naira grants after training, business plans and competitive pitches.
Nigerian businessman Matthew Tonlagha signs $720,000 U.S. lobbying deal as Abuja courts Washington
Matthew Tonlagha, a Tantita Security Services executive, signed a six month $720,000 lobbying deal in Washington to boost U.S. Nigeria ties.
Senegalese multimillionaire Kabirou Mbodje jailed in Paris as rape allegations case deepens
A Paris court kept Wari founder Kabirou Mbodje in custody, rejecting release as prosecutors cite witness pressure fears and flight risk.
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South African tycoon Barry Swartzberg’s Discovery stake rises above $320 million
South African billionaire Barry Swartzberg’s Discovery stake rises above $320 million as shares recover on the JSE.
Palantir CEO Alex Karp unloads $110 million in stock within 100 days
Alex Karp has sold more than $110 million in Palantir shares within 100 days amid stock volatility and tax obligations.
South African billionaire Jannie Mouton’s Capitec stake tops $1.2 billion
Jannie Mouton’s Capitec stake tops $1.2 billion as an 18-day share rally adds $67.58 million in value, cementing his position among South Africa’s financial elite.
Egypt's Hassan Allam Properties targets $297.4 million in 2026 projects, prepares new hospitality brand
Developer Hassan Allam Properties targets 14 billion pounds in 2026 work and will launch a hospitality brand to manage hotels opening in 2028-29.
Billionaire Hisham Talaat Moustafa says real estate prices in Egypt are unlikely to fall soon
Egypt’s top developer says housing prices follow land and building costs, and demand remains strong despite higher expenses.
EBRD approves $25 million loan to Hassan Allam to modernize equipment in Egypt
The EBRD approved a $25 million loan to Hassan Allam Holding to upgrade equipment and support lower emission construction operations in Egypt.
Mauritius-based businessman Antoine Delaporte's Adenia buys majority stake in Egypt’s Parkville
Adenia Partners buys controlling stake in Egypt’s Parkville, expanding into health, personal care, and Middle East-Africa markets.
Orascom Construction, led by Egypt’s richest family, gains backing for OCI deal
Orascom Construction shareholders approved an OCI unit acquisition and a 97 million capital raise, expanding assets and boosting issued shares.
Moroccan tycoon Mohamed Hassan Bensalah sells biscuit manufacturer Biscoland sold to Spain’s Adam Foods
Adam Foods has bought Biscoland, the 2023 Holmarcom biscuit and chocolate venture, taking over a modern Casablanca area factory and its local brands.
Egyptian billionaire Ahmed Ezz’s steel firm plans $1.1 billion production expansion
Ahmed Ezz’s Ezz Steel invests $1.16 billion to expand production amid falling exports and rising local demand.
Moroccan multimillionaire Chakib Alj looks to acquire struggling flour miller Forafric
Cap Holding boss Chakib Alj is in talks to seize control of debt-laden Forafric, raising prospects of a shake-up in Moroccan milling.
Nigerian businessman Aderemi Makanjuola’s Caverton posts sharp Q4 revenue drop as quarterly loss narrows slightly
Caverton Offshore Support Group reported a steep Q4 revenue slide to 3.74 billion naira as its net loss eased.
Vitafoam Nigeria, partly owned by Samuel Bolarinde, sees revenue jump to $20.8 million
Vitafoam Nigeria, partly owned by Samuel Bolarinde, posts $22.8 million revenue with net profit rising to $3.3 million.
FCMB, led by Nigerian banker Ladi Balogun, doubles profit to $127.5 million in 2025
FCMB posts $127.5 million profit in 2025 as higher interest income lifts earnings despite rising costs and credit losses.
Abdul Samad Rabiu’s BUA Foods posts $366 million profit as Nigeria staples drive sales
BUA Foods reported a $366 million profit as strong demand for staples like sugar, flour, pasta and rice lifted sales and assets despite inflation pressures.
Aradel, led by Adegbite Falade, secures $250 million to expand Nigerian oil and gas operations
Aradel, led by Adegbite Falade, secures $250 million to expand oil and gas operations and increase stake in ND Western.
Nigerian business icon Adekunle Ojora passes away at 93
Adekunle Ojora, 93, renowned Nigerian business leader and investor, passes away, leaving decades of corporate impact.
OPEC’s first female president spent $2.75 million at Harrods, London court hears
Diezani Alison-Madueke, OPEC’s first female president and Nigeria’s ex-oil minister spent $2.75 million at Harrods, facing UK bribery scrutiny.
Africa’s richest man, Aliko Dangote's refinery lifts petrol prices 14 percent
Africa’s richest man Aliko Dangote raises petrol prices by 14 percent as global crude oil prices climb after U.S. supply disruptions.
Kenyan billionaire Narendra Raval's Devki Group wins local approval to start Kishushe mining in Taita Taveta county
Shareholders at Kishushe Ranch in Kenya’s Taita Taveta county unanimously approved Devki Group’s mining plans, with officials promising jobs and road upgrades.
Kenya clears Tanzanian billionaire Edha Nahdi’s bid for NSSF stake in East African Portland Cement, but orders 18 months of job protection
Kenya’s competition watchdog cleared Amsons executive Edha Nahdi’s firm to buy NSSF’s Portland Cement stake, with an 18 month job lock.
Tanzanian billionaire Bakhresa tells young entrepreneurs to stay patient as he reflects on journey
Billionaire industrialist Said Salim Bakhresa tells young founders to be patient and persistent, describing a path from street food sales to a regional group.
Hassanein Hiridjee pushes Axian deeper into finance with VIA Assurance launch in Madagascar
Axian chief Hassanein Hiridjee has launched VIA Assurance in Madagascar, betting that simpler products and faster service can grow a thin insurance market.
UK court orders SportPesa co founder Paul Ndung’u to pay $2.9 million in costs as ownership fight drags on
A London judge ordered Paul Ndung’u to pay Sh374 million in interim costs after rejecting key claims in his SportPesa ownership dispute.
Kenyan businesswoman Mary Wambui fights hotel auction as bank looks to recover $62 million
Mary Wambui Mungai is fighting a planned auction of her Nairobi luxury hotel as Equity Bank pursues a disputed Sh8 billion debt.
Luxury hotel operator controlled by Mauritian Lagesse family posts $127 million half-year revenue
LUX Island Resorts posts $127 million half-year revenue as tourist arrivals boost occupancy and profits across Indian Ocean resorts.
Tanzanian billionaire Edha Nahdi's Amsons Group to inject $201.7 million into East Africa Portland Cement in bid to quadruple output
Amsons Group will inject Sh25.8bn ($201.7m) into East Africa Portland Cement, aiming to lift output to 4 million tonnes within three years.
South African billionaire Michiel Le Roux’s Capitec to grow branches and ATM network as rivals scale back
Capitec plans to expand branches and ATMs in 2026, betting that physical access still matters as rivals cut networks and push deeper into digital banking.
South African billionaire Johann Rupert’s Richemont to sell Baume & Mercier to Italy’s Damiani
Richemont agreed to sell Baume & Mercier to Italy’s Damiani, handing control of one of Switzerland’s oldest watch brands to a family owned jeweler.
South African businesswoman Bridgette Motsepe-Radebe demands $630,000 legal costs from Botswana after 'Butterfly Case'
Cleared in a money laundering saga, Bridgette Motsepe-Radebe is pressing Botswana to settle costs and finish still-overdue court-ordered public apologies.
South African businessman Saki Macozoma says $723 million Exxaro deal proves BEE can build lasting mining value
Saki Macozoma says a R11.67bn manganese sale to Exxaro shows black economic empowerment can create lasting value despite years of public criticism.
Botswana retailer Sefalana reports half-year profit slip under Chandra Chauhan
Sales climbed to 5.82 billion pula, but profit fell, as Chandra Chauhan’s Sefalana keeps building its retail footprint across southern Africa.
South Africa's Datatec acquires Slovenia cybersecurity distributor Real Security to expand Balkans reach
Datatec says it has bought Slovenia based Real Security, giving Westcon Comstor a Balkans foothold as cybersecurity spending and channel demand grow.
Strive Masiyiwa’s Cassava faces renewed debt scrutiny as Econet Zimbabwe plans to delist
Bondholders can’t touch Econet Zimbabwe’s cash, and now the telecom wants to leave the stock market, raising new questions about Cassava’s debts.
Accelerate continues major sales following South African mogul Michael Georgiou’s exit
Michael Georgiou continues major property sales, raising R88 million as it trims debt post-Michael Georgiou departure.
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.
Ethiopian billionaire Mohammed Al-Amoudi signals return with new mega projects
Ethiopian-born Saudi billionaire Mohammed Al-Amoudi signals a return with new mega projects under MIDROC, pledging jobs and investment as Ethiopia eyes middle-income status.
Preem, linked to Ethiopian billionaire Mohammed Al-Amoudi, posts $2.7 billion in Q2 sales
Preem reports Q2 revenue below $3 billion and swings to a $93.6 million loss as refinery downtime and weaker margins weigh.
Ethiopia’s richest man Mohammed Al-Amoudi gains $2.2 billion; wealth nears $8 billion
Mohammed Al-Amoudi’s fortune rises $2.2 billion after Svenska sale, pushing his net worth toward $8 billion.
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Banker Aig-Imoukhuede urges Nigeria to embrace agriculture as engine for jobs
Nigeria’s agriculture is unfinished, not failed. Leaders urge youth to see it as a modern, tech-driven sector with vast career paths
Citygate Homes Chairman Duru Mike Ejiogu honored as Entrepreneur of the Year by Sun Newspapers
Citygate Homes chairman Duru Mike Ejiogu received Sun Newspapers’ Entrepreneur of the Year award at a ceremony attended by Nigeria’s business and political elite.
Nigerian businessman Orji Uzor Kalu sponsors UTME registration for 2,000 Abia North students
Senator Uzor Kalu sponsors UTME registration for 2,000 Abia North students, access to education
UTM Offshore CEO Julius Rone sets 2026 start date for Nigeria's first Floating LNG project
UTM Offshore CEO Julius Rone announced that Nigeria first floating LNG facility will begin construction in 2026, marking a major step for the gas sector.
Elon Musk Calls for Sanctions Against Julius Malema as Political Tensions Flare Subheadline
Elon Musk renewed his criticism of Julius Malema, urging sanctions and international action after resurfaced remarks fueled debate over race and land reform.
Late Nigerian billionaire Pascal Dozie honoured as NGX celebrates his legacy
NGX and Nigeria’s business leaders honour billionaire banker Pascal Dozie, celebrating his lasting impact on the capital market, corporate governance and nation-building
Access Bank appoints Ifeyinwa Osime as new Board Chair
Her combined exposure to banking, insurance, trust services, and legal practice positions her as a multifaceted leader capable of navigating complex regulatory and market environments
Nigerian billionaire Abdulsamad Rabiu drives FX loss cut as BUA Foods profit hits N507.73bn
BUA Foods sharply reduced FX losses in 2025 as disciplined operations and energy diversification lifted profit to N507.73 billion.
Senegalese comedian Khaby Lame’s leap into billionaire territory sparks global buzz
Following the announcement, Rich Sparkle’s shares exploded, climbing more than 650% within days
Nigerian billionaire Folorunsho Alakija awards $215,000 in grants to women entrepreneurs
Folorunsho Alakija’s Flourish Africa chose 100 women for 3 million naira grants after training, business plans and competitive pitches.
Nigerian billionaire Abdulsamad Rabiu tops stock gains in 2025, beats Dangote
Abdul Samad Rabiu emerged as Nigeria’s biggest stock market winner in 2025, overtaking Aliko Dangote as soaring share prices lifted billionaire fortunes.
Nigerian businessman Matthew Tonlagha signs $720,000 U.S. lobbying deal as Abuja courts Washington
Matthew Tonlagha, a Tantita Security Services executive, signed a six month $720,000 lobbying deal in Washington to boost U.S. Nigeria ties.
Senegalese multimillionaire Kabirou Mbodje jailed in Paris as rape allegations case deepens
A Paris court kept Wari founder Kabirou Mbodje in custody, rejecting release as prosecutors cite witness pressure fears and flight risk.
Kenyan billionaire Narendra Raval's Devki Group wins local approval to start Kishushe mining in Taita Taveta county
Shareholders at Kishushe Ranch in Kenya’s Taita Taveta county unanimously approved Devki Group’s mining plans, with officials promising jobs and road upgrades.
Malagasy billionaire Hassanein Hiridjee's AXIAN Foundation renovates clinics in Antsirabe
AXIAN chief Hassanein Hiridjee backs renovation of four Antsirabe clinics, targeting better primary care for 185,000 residents.
Kenya clears Tanzanian billionaire Edha Nahdi’s bid for NSSF stake in East African Portland Cement, but orders 18 months of job protection
Kenya’s competition watchdog cleared Amsons executive Edha Nahdi’s firm to buy NSSF’s Portland Cement stake, with an 18 month job lock.
