Table of Contents
Good morning from Billionaires.Africa.
Here is a brief on what we published yesterday.
Dangote's refinery has now shipped 456,000 tonnes of refined fuel to five African countries — the first major export push since it hit full capacity in February, and a concrete sign that the war is redrawing intra-African energy trade in real time. Dangote himself met President Tinubu in Lagos and warned that the Middle East crisis could force African countries into COVID-era work-from-home measures if it does not de-escalate. Meanwhile, the refinery hiked petrol prices again — to ₦1,245 per litre — even as it threatened to export all output if Nigerian regulators keep issuing import licences.
Elsewhere, Abdulsamad Rabiu has added $4 billion to his net worth this year as BUA Group's industrial expansion accelerates. OnlyFans billionaire Leonid Radvinsky died at 43 after a long battle with cancer. And in Zimbabwe, sanctioned tycoon Kudakwashe Tagwirei pledged $350,000 to rehabilitate the country's main psychiatric hospital.
Top Stories
Dangote Refinery ships 456,000 tonnes of fuel to five African markets Twelve cargoes of Euro 5-grade petrol and diesel sold on FOB basis to traders supplying Côte d'Ivoire, Cameroon, Tanzania, Ghana and Togo — the refinery's first significant export run since reaching 650,000 bpd capacity.
Dangote warns Middle East crisis could trigger severe oil shock for Africa Speaking after meeting Tinubu in Lagos, Dangote said rising energy costs will hit every sector and warned Africa's debt burden could worsen — while praising the UK-Nigeria trade agreements reached during Tinubu's recent state visit.
Fresh import licences trigger Dangote export threat The refinery is reportedly considering exporting all output after alleging that NMDPRA is still issuing petrol import licences. A senior refinery official asked why Nigeria isn't protecting its local industry the way Trump is fighting for America's.
Wealth Moves
Rabiu adds $4 billion to net worth amid industrial expansion The BUA Group founder's fortune has climbed to $14.6 billion on Bloomberg, making him the world's 197th richest person. New deals with Chinese, Turkish and Italian manufacturers will push BUA Cement toward 20 million tons of annual output.
Levy brothers lose R1.46 billion as Blu Label shares slide Mark and Brett Levy have watched Blu Label Unlimited's market cap fall from R15.56 billion to R7.80 billion since August 2025 — a R7.76 billion destruction of value in seven months.
PSG Financial Services signals up to 39% earnings jump Jannie Mouton's PSG expects attributable earnings per share to rise as much as 39% for the year ended February 28, 2026. Results due April 16.
Billionaire Deaths
OnlyFans owner Leonid Radvinsky dies at 43 The Ukrainian-American billionaire who transformed the subscription platform into a cultural and commercial giant passed away after a long battle with cancer. He was worth $4.7 billion at the time of his death. OnlyFans had grown to 4.6 million content creators and $1.4 billion in annual revenue under his ownership.
Southern Africa
Tagwirei pledges $350,000 to rehabilitate Zimbabwe's main psychiatric hospital The U.S.-sanctioned Zimbabwean tycoon was among the largest private donors at a Bulawayo fundraiser that raised $2 million for Ingutsheni Central Hospital. President Mnangagwa pledged $1 million.
Karen Roos builds Babylonstoren into a top South African luxury e-commerce brand The Cape Dutch farm estate that Roos and billionaire husband Koos Bekker bought in 2007 is now ranked among South Africa's top online shops, competing with established national retailers.
Brenthurst's Magnus Heystek says his offshore money is not coming back to South Africa Despite a 54% rally in the JSE All Share Index since March 2024, Heystek argues the gains are concentrated in a handful of resource stocks and not reflective of broader economic recovery.
This week's Investor Memo and Wealth Intelligence brief are available for Elite subscribers:
→ Investor Memo: Fuel-Starved Nations Flock to Dangote
→ Wealth Intelligence: Tony Elumelu — The Dealmaker Who Won't Stop Building
