African Wealth Daily Briefing — Fri., March 20, 2026

Good morning from Billionaires.Africa.

Here is a brief on what we published yesterday.

Three South African founders became instant billionaires after selling their stablecoin startup BVNK to Mastercard for up to $1.8 billion — the biggest fintech exit in the country's history and a landmark moment for the continent's tech ecosystem. In Nigeria, Dangote's refinery powered the country to a $4.23 billion balance of payments surplus in 2025, flipping the oil trade script entirely. And Jim Ovia's Zenith Bank reclaimed its throne as Nigeria's most valuable lender after announcing plans for a London Stock Exchange listing.

Elsewhere, Chevron is selling its stakes in two offshore Angola blocks for $260 million, the Sawiris family's Orascom signed a deal to study a Kampala light rail system, and Turkish billionaire Fuat Tosyalı is pushing his Algeria steel complex toward 8 million tons of capacity with a new cold rolling mill.

TOP STORIES

BVNK founders become billionaires in $1.8 billion Mastercard deal South African co-founders Jesse Hemson-Struthers, Donald Jackson and Chris Harmse sold their stablecoin payments platform to Mastercard, making all three instant billionaires in the biggest SA fintech exit ever.

Dangote Refinery fuels Nigeria's $4.23 billion balance of payments surplus Nigeria swung to surplus in 2025, powered by Dangote Refinery exports and surging diaspora remittances — flipping the country's oil trade script entirely.

Jim Ovia's Zenith Bank reclaims Nigeria's most valued lender Shares surged to an all-time high after the bank announced plans for a full London Stock Exchange listing by 2027, pushing market cap past Guaranty Trust.

DEALS & MOVES

Chevron sells stakes in two offshore Angola oil blocks to Energean for $260 million The U.S. major's latest portfolio trim as it continues reshaping its African exposure.

Saltzman brothers sell R642 million in Dis-Chem shares Mark and Dan Saltzman offloaded $37.9 million in shares just months after inheriting a R6.8 billion stake from their parents.

Amethis backs Egypt's Tiba for Starch & Glucose in minority stake deal Hesham El Ghoroury's company secured private equity backing to scale production capacity and expand into global export markets.

INFRASTRUCTURE & INDUSTRY

Uganda taps Sawiris family's Orascom to study Kampala light rail system An 18-month feasibility study on a proposed rail-based mass transit system for the Greater Kampala Metropolitan Area.

Fuat Tosyalı's Algeria steel complex gets 1.4-million-ton cold rolling mill Tosyalı Algérie will launch the plant in Béthioua between August and September 2026, pushing total output toward 8 million tons.

Hisham Talaat Moustafa meets Egypt's prime minister to discuss TMG expansion Plans include a major new mixed-use project in East Cairo as TMG builds on its Forbes Middle East top developer ranking.

EARNINGS

Juhayna profit drops 20% to EGP 1.9 billion in 2025 Safwan Thabet's dairy and juice company saw margins squeezed even as net sales climbed 23% to nearly EGP 30 billion.

Coris Bank International files to enter Cameroon The West African lender is seeking a foothold in the CEMAC region's largest and most profitable banking market.

Ariel Investments pushes Project Level toward $1 billion for women's sports The fund closed $250 million as it targets a billion-dollar vehicle backing women's professional sports.

This week's Investor Memo and Wealth Intelligence brief are available for Elite subscribers:

→ Investor Memo: $126.7 Billion at the Peak — What Forbes Doesn't Tell You

→ Wealth Intelligence: Motsepe and the Gold War Windfall