African Wealth Briefing — Fri., Nov. 13, 2026

Good morning from Billionaires.Africa. Here's the catch-up since Monday's brief.

Egypt's big deals. Egypt's military reportedly wants a share of the proceeds from four projects worth about $199 billion that Hisham Talaat Moustafa's TMG agreed with the government in October, according to Africa Intelligence, and the state's revenue share has yet to be settled. TMG was also named the world's best golf hospitality developer at the World Golf Awards, held at Madinaty for the first time in Africa. Mounir Nakhla's MNT-Halan more than doubled quarterly profit to about $16 million in its first results since its Cairo IPO, though profit was 31% lower than a year earlier, and Samih Sawiris's Orascom Development lifted nine-month profit 24% to about $85 million. Today's Investor Memo examines the TMG deals, and today's Inside Story tells how Nakhla built MNT-Halan.

North Africa. Orascom Construction's board approved 97.2 million new shares for the OCI merger, worth about $1.41 billion at Sunday's close, with listing due on 24 November; the Sawiris family's existing 43.39% is diluted to about 23% before counting the new shares its OCI holdings will bring. Medhat Khalil's Raya signed three cloud and cybersecurity agreements, including one with Nutanix, and approved up to $60 million for a data centre purchase. In Morocco, Anas Sefrioui's Addoha was approved as a partner developer by Saudi Arabia's National Housing Company, though no project has been awarded. Rita Zniber faces a forgery complaint from her stepson over $1.5 million of debt acknowledgments, which she denies, saying the debts were her late husband's.

West and Central Africa. Cameroon's Supreme Court restored a freeze of about $239 million linked to MTN Cameroon's mobile money funds in Baba Danpullo's long-running dispute, after moving the case out of Douala to courts in the South region; MTN denies owing anything and declined to comment, and today's Deep-Dive sets out the whole saga. In Nigeria, Aliko Dangote raised his Africa investment target to $70 billion as he weighs a 10,000-megawatt power programme, and warned that about $7 billion of unpaid oil-sector loans could slow Nigeria's push to raise crude output. His refinery also cut the number of firms cleared to sell its petrol to 25 from 37 and moved to a benchmark-linked price. Okey Enelamah's African Capital Alliance is raising up to $750 million for its fifth fund, Razaq Okoya's Eleganza plans to reopen an idle Lagos factory, and Champion Breweries, controlled by an investor group backed by Kunle Soname, plans a new listed parent after nine-month pre-tax profit fell 71% despite revenue up 140%.

South Africa. Johann Rupert's Richemont reports half-year results today, with its jewellery houses expected to lead after first-quarter sales rose 20% at constant currency. Michiel le Roux's Capitec stake neared $4 billion, and his Fynbos companies gave the Democratic Alliance R78 million in the first half. Nicky and Jonathan Oppenheimer's Tswalu has grown into a 118,000-hectare Kalahari reserve, South Africa's largest privately owned, while a Johannesburg court postponed ARM's bid to liquidate two mining firms over a R55 million claim. Tshepo Mahloele's Harith won union praise for its FlySafair jobs pledge, Charles Savage's Purple Group lifted pre-tax profit 36% to R150 million, Rob Hersov was named as a lender to the company behind Betmatch by an amaBhungane investigation, a new betting exchange whose prediction-market plans regulators are questioning, and Roc Nation brought a youth rugby clinic to Cape Town.

East Africa and beyond. In Kenya, Absa completed its exit from two insurers, leaving Musalia Mudavadi's First Assurance Investments in full control. In Zimbabwe, Strive Masiyiwa's Econet launched Shona 2.0, an AI model that it says can answer 80% of customer queries in Shona. Jack Ma's Africa's Business Heroes competition heads to its Kigali finale on 1 and 2 December, with $1.5 million in grants for ten finalists. Further afield, Jensen Huang resigned as Nvidia's chief executive after a board investigation, with Colette Kress as interim chief, and James Murdoch's Bodhi Tree agreed to pay $180 million for a majority of an Indian vegetarian restaurant chain.

The takeaway. This week's common thread was the gap between headline value and money in hand. TMG's four projects are worth almost 60 times the company, but their terms are unsettled and the military now wants a seat at the table. In Cameroon, $239 million of mobile money is frozen four years into a dispute that began over a R520 million loan in South Africa. And MNT-Halan's listing drew huge demand, while its first results show a profit still below last year's; in each case, the details will decide what the headline numbers are worth.

On the site

Behind the paywall — for paid members

Today's premium briefings:

Elite · Investor Memo — The $200 Billion Question. Talaat Moustafa Group has agreed four projects with Egypt's government worth about $200 billion, nearly 60 times its market value. Now the military reportedly wants a share. How the deals compare with Ras El Hekma, what TMG earns today and what shareholders should watch. In Investor Memo.
Executive · Deep-Dive Report — The Long Freeze. A South African bank sold Baba Danpullo's property empire over a R520 million loan. He responded by freezing MTN Cameroon's money. This week the Supreme Court restored a $239 million freeze on mobile money funds. A deep-dive on how the case began, where it stands and what it means. In Deep-Dive Report.
Insider · The Inside Story — The Tuk-Tuk Banker. Mounir Nakhla started with loans for motorbikes and tuk-tuks, launched a ride-hailing app, then turned it into a lender. Last month MNT-Halan listed in Cairo with retail demand 43.6 times the shares on offer. The story of the tuk-tuk banker, and what its first results show. In The Inside Story.

Recently published:

→ Executive ($25/mo): Daily newsletter + Deep-Dive Reports · → Elite ($75/mo): Everything above + Investor Memos + Wealth Intelligence + Quarterly Analyst Briefings + the complete 20-volume library, free on request. Subscribe

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; a stake's value is not a measure of net or liquid wealth, and figures change with markets and currencies. Company valuations, revenues and share stakes are not measures of an individual's personal net worth, and where wealth is undisclosed or cannot be verified no figure is asserted. Legal matters are reported as matters of public record and attributed to their sources; allegations are contested and untested, individuals and companies are presumed to act lawfully absent a ruling, and those not accused of wrongdoing are noted as such. Editorial analysis, not investment, legal or tax advice.

African Wealth Briefing — Fri., Nov. 13, 2026

Table of Contents

Related

Latest