Table of Contents
Good morning from Billionaires.Africa.
Here is a brief on what we published yesterday.
Strive Masiyiwa's Liquid Intelligent Technologies has retired a $620 million bond early and raised $300 million in fresh notes, trimming leverage across its pan-African digital infrastructure footprint. The refinancing is a statement of balance sheet discipline from a company that operates fiber, satellite, and data center assets across more than 20 African countries — and it arrives just weeks after Masiyiwa unveiled Econet Tech City and the Victoria Falls resort, signaling that the group is clearing debt at the same time it's accelerating investment.
In North Africa, two large-scale industrial bets landed on the same day. Turkish billionaire Fuat Tosyali launched a $2.5 billion program to double his Algeria steel output and push Tosyali Holding into the world's top 20 steelmakers. And Samih Sawiris — the third Sawiris brother, and one of Egypt's most active cross-border developers — joined UAE-based Al Nowais Investments and Egypt's Sunrise Group to deploy $235 million into a coastal tourism megaproject in Essaouira, Morocco.
Meanwhile, Dangote Sugar shareholders approved a N500 billion rights issue — one of the largest in Nigerian corporate history — to fund the backward integration and expansion that Dangote has been signaling for weeks.
Top Stories
Masiyiwa's Liquid retires $620 million bond, raises fresh $300 million Liquid Intelligent Technologies retired the bond early and replaced it with $300 million in new notes at tighter terms. The move trims leverage across a network that now spans fiber, cloud, cybersecurity and satellite infrastructure across more than 20 African markets.
Tosyali rolls out $2.5 billion Algeria steel push Fuat Tosyali is doubling Algeria output with a $2.5 billion capital program aimed at pushing Tosyali Holding into the global top 20 steelmakers. Algeria is already the group's largest production base outside Turkey.
Samih Sawiris deploys $235 million into Morocco coastal tourism with Emirati partners The third Sawiris brother has joined Al Nowais Investments and Sunrise Group on a coastal tourism megaproject in Essaouira. It adds to Samih's existing Orascom Development portfolio, which includes El Gouna in Egypt and projects across Oman, Montenegro, and the UAE.
Dangote Sugar shareholders approve N500 billion rights issue One of the largest rights issues in Nigerian corporate history. The capital will fund a backward integration strategy targeting 600,000 metric tonnes of annual sugar output by 2030, closing a 1.2 million-tonne national import gap.
West Africa
Àrgentil secures blended finance backing for $75 million SME fund in Nigeria and Ghana Àrgentil Capital Management has been selected for a blended finance accelerator program, securing support to launch a $75 million fund targeting small and medium enterprises across Nigeria and Ghana.
Ibrahim Mahama pledges to build Astroturfs across Damang communities after mine takeover Mahama's Engineers and Planners has begun community engagement following its takeover of the Damang gold mine, pledging recreational infrastructure investment in surrounding communities.
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