Table of Contents
Good morning from Billionaires.Africa.
Here is a brief on what we published yesterday.
Macron has picked Tony Elumelu to lead France's new Africa Impact Coalition ahead of the Nairobi summit in May — a signal that Paris is betting on Nigeria's most visible private-sector figure to anchor its reengagement with the continent. In Tanzania, Rostam Aziz-backed Lake Victoria Gold confirmed up to 97% gold recovery at its Imwelo project, adding another data point to the African gold story we've been tracking. And Indian billionaire Ravi Jaipuria is making his first move into South African dairy with a ZAR 238 million acquisition.
Elsewhere, the Masiyiwa family published a book on three decades of philanthropy through the Higherlife Foundation, Yasseen Mansour's Palm Hills posted a 30% profit jump, and Warner Music Group is facing a Nigerian lawsuit risk over the Burna Boy catalogue.
TOP STORIES
Macron picks Tony Elumelu to lead France's new Africa Impact Coalition The French president has appointed Nigerian billionaire Tony Elumelu to chair the coalition ahead of the Nairobi summit in May, positioning him at the center of France-Africa economic diplomacy.
Lake Victoria Gold, backed by Rostam Aziz, confirms up to 97% gold recovery at Imwelo project The Tanzanian billionaire's gold bet continues to develop as metallurgical results from the Imwelo project come in strong.
DEALS & MOVES
Indian billionaire Ravi Jaipuria's Varun Beverages acquires South Africa's Crickley Dairy for ZAR 238 million Varun Beverages' first move into dairy, marking a $14.3 million bet on South Africa's consumer market.
Warner Music Group faces Nigerian lawsuit risk over disputed Burna Boy catalogue A legal challenge in Nigeria could complicate one of African music's most valuable catalogue deals.
EARNINGS
Yasseen Mansour's Palm Hills posts 29.55% profit jump to EGP 4.22 billion in 2025 Another strong set of numbers from Egypt's real estate sector, following TMG's Forbes ranking earlier this week.
PHILANTHROPY
Zimbabwe's richest family publishes book on three decades of African philanthropy Tsitsi and Tanya Masiyiwa have released a book documenting 30 years of the Higherlife Foundation's work across the continent.
ALSO NOTED
Fawn Weaver's Uncle Nearest bankruptcy bid thrown out as receivership fight deepens The whiskey brand's legal troubles continue as the court rejects the bankruptcy filing.
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
