Table of Contents
Good morning from Billionaires.Africa.
Here is a brief on what we published yesterday.
Aliko Dangote has offered to build a refinery in Tanzania matching the scale of his Lagos plant. Kenya and Uganda are backing the proposal, which was announced at a Nairobi infrastructure summit. If it moves forward, it would represent the single largest industrial investment in East African history and extend Dangote's refining footprint from West Africa to the Indian Ocean coast — a move that makes strategic sense with the Strait of Hormuz still effectively closed and East Africa's fuel supply chain under severe stress.
In Egypt, Yasseen Mansour's Palm Hills is bringing a city-scale luxury development to the country's most coveted coastline. And in Morocco, Othman Benjelloun has opened the country's tallest building — a $700 million rocket-shaped skyscraper in Salé that took eight years to build. Two billionaires, two North African megaprojects, and a shared bet that real estate at scale is still the most durable store of value on the continent.
Meanwhile, Christo Wiese's stake in Premier Group — the owner of Blue Ribbon bread — has been diluted after the company's nearly R6 billion acquisition of RFG Holdings. And in Kenya, Kipchimchim Group is in talks to buy tea assets from tycoon David Langat, a Ruto ally struggling under debt.
Top Stories
Dangote offers to build East Africa a refinery as big as Lagos The offer came at a Nairobi infrastructure summit with Kenyan and Ugandan backing. A 650,000 bpd East African refinery would transform the region's fuel economics and give Dangote a second continental refining hub at a moment when the Hormuz crisis has made domestic refining capacity a national security priority across the continent.
Yasseen Mansour's Palm Hills brings city-scale luxury project to Egypt's coastline Palm Hills is expanding into Egypt's most sought-after coastal corridor with a development that signals the scale of ambition now driving Egyptian luxury real estate.
Benjelloun opens Morocco's tallest tower in Salé after 8 years of construction The $700 million rocket-shaped skyscraper is Morocco's tallest building. Eight years from groundbreaking to opening — a timeline that reflects the complexity of supertall construction in North Africa and Benjelloun's willingness to spend whatever it takes to finish.
Southern Africa
Christo Wiese's stake in Blue Ribbon owner diluted after R6 billion RFG deal Premier Group's nearly R6 billion acquisition of RFG Holdings has diluted Wiese's position. The deal consolidates two of South Africa's largest food producers under one roof — a scale play that trades Wiese's percentage for a larger overall enterprise.
East Africa
Kipchimchim Group in talks to buy David Langat's tea assets as Ruto ally struggles under debt Political connections are no substitute for balance sheet discipline. Langat, a Ruto ally, is under pressure to sell tea assets as debt mounts — a cautionary tale about leverage in Kenya's agricultural sector.
Global
Jude Bellingham buys 1.2 percent stake in Birmingham Phoenix cricket franchise The Real Madrid and England midfielder is investing in his hometown cricket franchise — joining the growing trend of footballers diversifying into sports ownership.
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