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Good morning from Billionaires.Africa.
Here is a brief on what we published yesterday.
Tuesday's coverage redrew the wealth map from two directions — the macro data on where African fortunes are headed, and the company-level moves (succession, manufacturing, a refinery verdict) that show how they're being built.
The lead: the fastest-growing, from a small base
New data named Africa the world's fastest-growing ultra-wealth region in 2025 — yet the continent's roughly 3,440 ultra-wealthy individuals still hold less than 1% of global fortunes. It is the defining tension of African wealth in one statistic: rapid growth off a small base, a region creating new fortunes faster than anywhere on earth while still commanding a sliver of the world's total. The momentum is real; so is the distance left to travel.
Succession and strategy
Nigeria — the next generation steps up. Abdul Samad Rabiu, whose 120% surge made him the biggest gainer on this year's African rich list, relaunched BUA Rice with his son in charge — a move that doubles as both a diversification into food security and a clear signal about succession at one of Nigeria's fastest-rising business empires.
Egypt — building the EV supply chain. Ahmed El Sewedy backed a $500 million deal to manufacture Abu Dhabi-based ROX electric vehicles in Egypt — a bet on turning the country into a regional EV production hub, and on localizing a supply chain that has so far been almost entirely imported.
A refinery verdict
North Africa — the Samir question, answered. Morocco rejected a plan to nationalize the collapsed SAMIR refinery, owned by Ethiopian-born billionaire Mohammed Al-Amoudi — the same dormant facility at the heart of the fuel-policy fight we covered this week. The decision aligns with the government's stated position that taking a bankrupt refinery into state hands would carry too much fiscal risk, and leaves Morocco's import-dependent fuel market — and the distributors who dominate it — undisturbed for now.
Also on the desk
East Africa — cement pays off. Tanzanian businessman Edha Nahdi's bet on cement was rewarded as EAPC's profit jumped roughly five-fold, a reminder that the continent's building boom is still minting fortunes for those positioned in materials.
The takeaway
Tuesday paired the big picture with the building blocks: data confirming Africa as the world's fastest ultra-wealth grower even as it holds under 1% of global money, set against the granular moves — a succession, an EV plant, a refinery decision — that determine who captures the next decade of that growth. Fast from a small base, one company at a time.
On the site
- Africa was the world's fastest-growing ultra-wealth region in 2025, new data shows — https://www.billionaires.africa/2026/06/23/africa-was-the-worlds-fastest-growing-ultra-wealth-region-in-2025-new-data-shows/
- Nigerian billionaire Abdul Samad Rabiu relaunches BUA Rice with son in charge — https://www.billionaires.africa/2026/06/23/nigerian-billionaire-abdul-samad-rabiu-relaunches-bua-rice-with-son-in-charge/
- Egyptian billionaire Ahmed El Sewedy backs $500 million deal to manufacture ROX electric vehicles in Egypt — https://www.billionaires.africa/2026/06/23/egyptian-billionaire-ahmed-el-sewedy-backs-500-million-deal-to-manufacture-abu-dhabi-based-rox-electric-vehicles-in-egypt/
- Morocco rejects plan to nationalize Ethiopian billionaire Mohammed Al-Amoudi's collapsed SAMIR refinery — https://www.billionaires.africa/2026/06/23/morocco-rejects-plan-to-nationalise-ethiopian-billionaire-mohammed-al-amoudis-collapsed-samir-refinery/
- Tanzanian billionaire Edha Nahdi's cement bets pay off as EAPC profit jumps five-fold — https://www.billionaires.africa/2026/06/23/tanzanian-billionaire-edha-nahdis-cement-bets-pay-off-as-eapc-profit-jumps-five-fold/
Billionaires.Africa — the world's premier source of news on Africa's billionaires and UHNWIs. Forward to a colleague.
Figures are point-in-time estimates from public sources including Forbes, Bloomberg, company disclosures and exchange filings, as of reporting; they change with markets and currencies and are not measures of liquid wealth. Editorial analysis, not investment, legal or tax advice. © 2026 Billionaires.Africa Inc.
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