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Good morning from Billionaires.Africa. With Tuesday's brief held over, here's the catch-up — everything we've published since Monday's edition.
After Monday's louder split between expansion and accountability, the midweek stories turned to arithmetic: results posted, deals revived, and one tycoon vindicated by a collapse. Less drama, more balance sheet.
East Africa — vindication. Kenyan tycoon Ngugi Kiuna's BOC Kenya stake has soared: the shares have more than doubled since the Carbacid buyout he opposed as too low collapsed — a rare case of resisting a deal and being proved right by the market. (He was in Monday's brief losing a separate $1.5 million legal-fee fight; the ledger evens out.)
North Africa — deals revived, hotels doubled, control confirmed. In Morocco, Chakib Alj's stalled Forafric takeover was revived after a deal between the tycoon, Yariv Elbaz and Crédit Agricole du Maroc. In Egypt, Hisham Talaat Moustafa's TMG said it will nearly double its hotel portfolio to as many as 40 properties over the next decade. And the week's biggest corporate move firmed up: Nassef Sawiris took majority control of OCI Global, lifting his stake above 55% as his take-private advances — the subject of this week's Deep-Dive Report.
West & Central Africa — results season. Côte d'Ivoire's Jean Kacou Diagou saw NSIA Banque lift 2025 profit 7% to about $72 million as its balance sheet topped $5 billion. In Nigeria, Aderemi Makanjuola's Caverton Offshore narrowed its pre-tax loss 74% to about $10 million even as revenue slid 40%. And Femi Otedola says he is writing a sequel to his memoir — Making It Bigger, following the award-winning Making It Big.
Southern Africa — trimming at the top. A trust linked to South Africa's Halamandaris family, founders of Famous Brands, sold shares — about $129,000 worth this month, at prices roughly 5% above where the stock now trades. A small, well-timed trim.
Beyond the continent. Elon Musk's fortune slipped below $900 billion as SpaceX shares drift toward their IPO price — down more than $500 billion since June — even as SpaceX prepared to test Starlink laser links with ground stations in South Africa, the one African market where it still cannot legally sell. And Jay-Z broke his own Yankee Stadium ticket record two nights running.
The takeaway. A quieter, arithmetic-driven stretch — results, revivals and a vindication — after Monday's expansion-versus-accountability split. When the noise fades, the numbers do the talking; this week they mostly rewarded patience.
On the site
- Moroccan tycoon Chakib Alj's Forafric takeover revived after deal with Elbaz and Crédit Agricole
- Tycoon Ngugi Kiuna's BOC Kenya stake soars after the buyout he fought collapsed
- Egyptian billionaire Hisham Talaat Moustafa plans to nearly double TMG's hotel portfolio to 40 properties
- Egyptian billionaire Nassef Sawiris takes majority control of chemical company OCI Global
- Ivorian tycoon Jean Kacou Diagou's NSIA Banque lifts profit 7% as balance sheet tops $5 billion
- Nigerian tycoon Aderemi Makanjuola's Caverton narrows loss to $10 million as revenue slides 40%
- Billionaire Femi Otedola is writing a sequel to his award-winning memoir Making It Big
- South Africa's Halamandaris family sells Famous Brands shares near the stock's recent high
- Elon Musk is a billionaire like everyone else again as fortune drops below $900 billion
- Elon Musk's SpaceX to test Starlink links with South Africa ground stations
- Billionaire Jay-Z breaks Yankee Stadium ticket record two nights running with Blueprint anniversary show
Behind the paywall — for paid members
This week's premium briefings are live:
- Elite · Wealth Intelligence — The Refinery Network. How Aliko Dangote's $17 billion Lamu bet turns a single plant into a continental system — and what it signals about the Lagos IPO.
- Executive · Deep-Dive Report — Taking It Private. Nassef Sawiris, OCI Global and the €4.10 endgame — the take-private newly confirmed by his move above 55%.
- Insider · The Inside Story — The Comeback and the Ruin. The paradox of Mohammed Al-Amoudi — worth close to $9 billion, absent from Forbes, a ruined refinery in Morocco and a revival in Addis.
→ Executive ($25/mo): Daily newsletter + Deep-Dive Reports · → Elite ($75/mo): Everything above + Investor Memos + Wealth Intelligence + Quarterly Analyst Briefings. Subscribe
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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. Company valuations, revenues and family fortunes are not measures of an individual's personal net worth. Allegations and legal matters are reported as matters of public record; individuals are presumed innocent unless and until proven otherwise, and denials are noted where made. Editorial analysis, not investment, legal or tax advice. © 2026 Billionaires.Africa Inc.
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