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Subscribe nowInvestor Memo: The American Bet — How Washington's $100 Million Loan to Ziad Dalloul's Africell Makes One Telecom the Front Line Against Huawei in Africa
Washington is lending nearly $100 million to Ziad Dalloul's Africell — Africa's only American-owned telecom — to buy US kit instead of Huawei's. A deal that turns one operator into the front line of the US-China contest for Africa's networks. The memo on what it means.
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Investor Memo: Seven Times Earnings — What the Dangote Refinery's Nine-Month Numbers Say About the ₦525 Share Price
Nine months, $4.73 billion of net profit and a $650 million net cash pile. At ₦525 a share the Dangote refinery is priced at roughly seven and a half times its annualised earnings. Why the multiple is so low, what could justify it, and what to check before October 27.
Investor Memo: The State as Shareholder — Why Aliko Dangote Is Offering East African Governments 30% of His Lamu Refinery
Aliko Dangote is offering East African governments 30% of his Lamu refinery, with Kenya weighing about $500 million for 10%. Why Africa's richest man wants states as co-owners of a $16 billion asset, what that protects, what it costs, and what building in Lagos taught him.
Investor Memo: The Key Man — Wicknell Chivayo's Death Leaves State Contracts in Three Countries Resting on a Company Built Around One Person
Wicknell Chivayo died three weeks after Gwanda got its notice to proceed. Solar in Zimbabwe and Eswatini, a stake in Kenya's airport: a pipeline worth hundreds of millions, resting on one man. What happens to it, and the lesson for anyone backing a founder-led contractor.
Investor Memo: The Doubling — Dangote Group Is on Course to Take Revenue From $18 Billion to $36 Billion in a Single Year, and the Cement Arm Is Funding Its Own Expansion
Dangote Group says revenue hit about $17 billion in the first half and is on track to double to $36 billion for the year, from $18 billion in 2025. What the number is made of, why funding 25 million tonnes of cement from cash flow matters more, and what would tell you it holds.
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How Nigerian billionaire Tunde Folawiyo's firm got into Paystack and Flutterwave early
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Nigerian pipeline billionaire Emeka Okwuosa says Africa can’t run on renewables alone
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Nigerian telecoms billionaire Mike Adenuga praised by Onitsha King as “a true man of culture”
The Obi of Onitsha has hailed Nigerian billionaire Mike Adenuga as "a true man of culture," crediting him with helping preserve Nigerian heritage.