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Nigeria’s 10 richest businessmen in 2025
From cement and construction to telecoms and finance, Nigeria’s richest businessmen have built empires that extend far beyond the country’s borders.
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Africa’s richest man, Aliko Dangote’s refinery exports jet fuel to Saudi Arabia
Dangote said the refinery, which began operations in early 2024, is steadily ramping up production, now reaching 550,000 barrels per day (bpd).

One of America’s richest Black executives leads Eaton to $24.9 billion sales in 2024
This was driven by robust organic sales, particularly within the company’s Electrical Americas, Electrical Global and Aerospace segments.

British-Nigerian entrepreneur Ladi Delano’s startup acquires Brazil’s mobility provider Kovi
Deal strengthens global mobility fintech’s presence in Latin America, expands AI-driven fleet management.
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Egyptian billionaire Hisham Talaat Moustafa’s TMG stake dips below $1 billion
Even with this decline, Moustafa remains one of Egypt’s wealthiest individuals, backed by his significant holdings in TMG.

South African businessman Giovanni Ravazzotti’s stake in Italtile slumps below $500 million
This adds to an earlier loss of $46.83 million between Jan. 1 and 13, when his stake in Italtile dropped from $551.82 million to $504.99 million.

South African tech mogul Zak Calisto sees $71 million boost from Karooooo shares
This gain comes after a late-January decline that had reduced his stake to $874 million.

Egyptian businessman Ahmed El-Sewedy’s electric firm launches telecom cables factory
The facility marks a major step in expanding Egypt’s telecom infrastructure and solidifying the country’s position as a regional manufacturing hub.

VC firm backed by Egyptian billionaire Mohamed Mansour closes $50 million fund for African startups
The funding marks a significant step in expanding tech investment across Africa, with a particular focus on Francophone regions and major startup hubs.

Egyptian billionaire Hisham Talaat Moustafa’s TMG stake dips below $1 billion
Even with this decline, Moustafa remains one of Egypt’s wealthiest individuals, backed by his significant holdings in TMG.

Egypt’s 10 richest businessmen in 2025
Their influence extends far beyond their home country, driving investment, policy shifts, and innovation.

Alami Lazraq’s fortune soars as Moroccan real estate stake tops $600 million
This secures Lazraq’s standing among Morocco’s wealthiest individuals, reinforcing his influence as a top investor on the Casablanca Bourse.

Egypt’s richest man loses $220 million in one week
Despite recent setback, Sawiris' wealth is up by $261 million YTD, driven by early 2025 gains and strong performance in his diverse portfolio.

Egyptian business executive Dalia Khorshid drives Beltone to record $143 million revenue in 2024
The strong results reinforced its position as one of the fastest-growing financial institutions in the Middle East and North Africa (MENA) region.

Egypt's wealthy Khamis family’s stake in Oriental Weavers rises $13.5 million
This turnaround comes after a strong rally in the company’s shares in recent weeks.

Billionaire Mike Adenuga’s Globacom makes retail expansion in north-eastern Nigeria
The expansion aligns with Globacom’s long-term strategy of deepening its presence across the country.

Nigeria’s 10 richest businessmen in 2025
From cement and construction to telecoms and finance, Nigeria’s richest businessmen have built empires that extend far beyond the country’s borders.

Egyptian businessman Ahmed El-Sewedy’s stake in Elsewedy Electric surges past $870 million
This recent surge adds to an impressive $304 million gain in 2024.

Emmanuel Okeleji’s SeamlessHR targets $720 million opportunity in Nigeria’s public sector
With over 720,000 civil servants, the Nigerian government represents a lucrative growth opportunity.

Africa’s richest man, Aliko Dangote’s refinery exports jet fuel to Saudi Arabia
Dangote said the refinery, which began operations in early 2024, is steadily ramping up production, now reaching 550,000 barrels per day (bpd).

Meet Adegbite Falade: Nigerian energy boss steering a $1.6 billion powerhouse
Since his appointment, Falade has led Aradel through a period of substantial transformation, positioning the company as a powerful force in Nigeria’s energy industry.

Flutterwave to delay IPO until profitable, Nigerian tech entrepreneur Olugbenga Agboola confirms
Agboola emphasized that the IPO’s timing isn’t just about being ready from an operational standpoint, but about delivering real, long-term value to its stakeholders.

Oil billionaire Indimi addresses $435 million dividend feud, says he bought daughters’ stakes for $10 million
He has also denied their accusations of intimidation, insisting they were not pressured into transferring their shares.

James Mwangi-led Equity Bank secures $20 million facility to boost financial access in Kenya's refugee regions
Equity Bank, in partnership with IFC, completes a $20 million Risk Sharing Facility to improve financial access for underserved communities, including refugees and hosts.

Tewodros Ashenafi: Energy mogul behind one of Ethiopia's leading oil companies
SouthWest Energy (SWE), which Ashenafi founded in 2005, has become Ethiopia’s leading indigenous oil and gas exploration and production company.

Tanzania’s richest man reveals crypto scammers hacked his X account after token collapse
According to Mohammed Dewji, the breach occurred between Feb. 5 at 4:00 PM and Feb. 6 at 2:00 AM.

Aga Khan IV, spiritual leader and business visionary, dies at 88
Aga Khan’s investments shaped East Africa’s media, banking, and hospitality sectors.

Ugandan tycoon Charles Mbire sees $3.65 million loss on MTN Uganda shares
Mbire saw the market value of his holdings drop from $70.57 million on Jan. 15 to $66.92 million at the time of this report.

Sarbjit Singh Rai: Kenyan businessman leading East Africa’s industrial powerhouse
From expanding his family’s business empire to leading a multinational conglomerate, Sarbjit Singh Rai’s journey is one of strategic growth, resilience, and industry dominance.

Ally Edha Awadh: The Tanzanian entrepreneur behind Dar es Salaam-based Lake Group
From flipping burgers in Canada to leading one of East Africa’s largest energy conglomerates, Ally Edha Awadh’s journey is a story of vision, hard work, and adaptability.

Safaricom, led by Peter Ndegwa, seeks approval for Kenya’s first telco-owned submarine cable
The Nairobi-based telco company has applied to the Communications Authority of Kenya (CA) for a Submarine Cable Landing Rights Licence.

South Africa’s second-richest man sees net worth soar to $12 billion
Over the past 17 days, his net worth has risen by $225 million, reaching $12 billion, according to the Bloomberg Billionaires Index.

Nombasa Tsengwa resigns as governance investigation unfolds in Exxaro
Tsengwa’s resignation follows her precautionary suspension in December 2024 amid an independent probe into allegations concerning workplace conduct and governance.

Meet Noel Mkulichi: Malawian banker behind billion-dollar lender, FDH Bank
Mkulichi’s leadership isn’t just about financial performance—he is deeply committed to financial inclusion, gender equality, and youth empowerment.

Lesaka, linked to Africa’s first Black billionaire Patrice Motsepe, posts $36.7 million loss in H1 2024
Lesaka’s H1 2024 revenue rose to $292.36 million from $279.98 million a year earlier, but mounting costs hit profitability.

South African businessman Giovanni Ravazzotti’s stake in Italtile slumps below $500 million
This adds to an earlier loss of $46.83 million between Jan. 1 and 13, when his stake in Italtile dropped from $551.82 million to $504.99 million.

South African tech mogul Zak Calisto sees $71 million boost from Karooooo shares
This gain comes after a late-January decline that had reduced his stake to $874 million.

Africa’s largest asset manager sells $7.9 million stake in Jonathan Jawno-led Transaction Capital
PIC's decision reflects a strategic adjustment in response to rising costs and a slow economy, affecting South African businesses like Transaction Capital.

South Africa’s 10 richest billionaires in 2025
From luxury goods to mining and fintech, they shape economic trends and investment flows across Africa and beyond.

Zepz teams up with dLocal after $267 million raise to boost cross-border payments
The partnership aims to tackle financial access barriers in Africa, Asia, and Latin America, where millions are excluded from traditional banking systems.

Mohammed Al-Amoudi’s wealth falls $1-billion amid asset revaluation, legal disputes
Ethiopia’s wealthiest man, Mohammed Al-Amoudi, lost over $1 billion in recent months, with his net worth dropping to $8.76 billion.

Safaricom reaches 52 million subscribers in Ethiopia
The telecom giant reported this milestone with its half-year results, marking rapid growth in one of Africa’s biggest telecom markets.

Safaricom reports mixed results for H1 2025, faces challenges in Ethiopia, Kenya
East Africa's telecom giant, Safaricom, sees revenue growth but faces profitability hurdles.

Safaricom expands M-PESA platform to Ethiopia, boosting regional financial inclusion
The move aims to strengthen regional financial inclusion and boost economic activity across borders.

Somali tycoon Ismail Ahmed’s Zepz raises $267 million to expand in Africa
The venture capital firm Accel, along with Leapfrog and TCV, led the latest funding round for Zepz.

Ethiopia’s richest man Mohammed Al-Amoudi’s fortune rises $190 million in 19 days
Al-Amoudi’s net worth has jumped from $9.12 billion on April 26 to $9.31 billion as of this report. This translates to an average daily gain of $10 million since April 26.

Ethiopia’s richest man Mohammed Al-Amoudi loses $260 million in two weeks
This follows a $320-million gain in Al-Amoudi’s net worth between March 28 and April 12.
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South Africa’s second-richest man sees net worth soar to $12 billion
Over the past 17 days, his net worth has risen by $225 million, reaching $12 billion, according to the Bloomberg Billionaires Index.

Billionaire Mike Adenuga’s Globacom makes retail expansion in north-eastern Nigeria
The expansion aligns with Globacom’s long-term strategy of deepening its presence across the country.

Egyptian businessman Ahmed El-Sewedy’s electric firm launches telecom cables factory
The facility marks a major step in expanding Egypt’s telecom infrastructure and solidifying the country’s position as a regional manufacturing hub.

Palantir’s soaring stock adds billions to Alex Karp’s net worth, pushing him near $10 billion
The Black billionaire, who owns a 2.63 percent stake in Palantir, added $2.1 billion to his net worth in just a few days, according to Forbes’ estimates.

VC firm backed by Egyptian billionaire Mohamed Mansour closes $50 million fund for African startups
The funding marks a significant step in expanding tech investment across Africa, with a particular focus on Francophone regions and major startup hubs.

Nigeria’s 10 richest businessmen in 2025
From cement and construction to telecoms and finance, Nigeria’s richest businessmen have built empires that extend far beyond the country’s borders.

Egyptian billionaire Hisham Talaat Moustafa’s TMG stake dips below $1 billion
Even with this decline, Moustafa remains one of Egypt’s wealthiest individuals, backed by his significant holdings in TMG.

James Mwangi-led Equity Bank secures $20 million facility to boost financial access in Kenya's refugee regions
Equity Bank, in partnership with IFC, completes a $20 million Risk Sharing Facility to improve financial access for underserved communities, including refugees and hosts.

Nombasa Tsengwa resigns as governance investigation unfolds in Exxaro
Tsengwa’s resignation follows her precautionary suspension in December 2024 amid an independent probe into allegations concerning workplace conduct and governance.

Meet Noel Mkulichi: Malawian banker behind billion-dollar lender, FDH Bank
Mkulichi’s leadership isn’t just about financial performance—he is deeply committed to financial inclusion, gender equality, and youth empowerment.

Lesaka, linked to Africa’s first Black billionaire Patrice Motsepe, posts $36.7 million loss in H1 2024
Lesaka’s H1 2024 revenue rose to $292.36 million from $279.98 million a year earlier, but mounting costs hit profitability.

Egypt’s 10 richest businessmen in 2025
Their influence extends far beyond their home country, driving investment, policy shifts, and innovation.

South African businessman Giovanni Ravazzotti’s stake in Italtile slumps below $500 million
This adds to an earlier loss of $46.83 million between Jan. 1 and 13, when his stake in Italtile dropped from $551.82 million to $504.99 million.

Egyptian businessman Ahmed El-Sewedy’s stake in Elsewedy Electric surges past $870 million
This recent surge adds to an impressive $304 million gain in 2024.

Emmanuel Okeleji’s SeamlessHR targets $720 million opportunity in Nigeria’s public sector
With over 720,000 civil servants, the Nigerian government represents a lucrative growth opportunity.

Tewodros Ashenafi: Energy mogul behind one of Ethiopia's leading oil companies
SouthWest Energy (SWE), which Ashenafi founded in 2005, has become Ethiopia’s leading indigenous oil and gas exploration and production company.