Featured
Africa’s richest man, Aliko Dangote’s net worth grows by $201 million in 24 hours
With this latest boost, his year-to-date loss has narrowed to $461 million.
Editors' Picks
How a tailor’s son became a multimillionaire: The rise of Nigerian industrialist Razaq Okoya
Okoya’s legacy is about people. His companies employ over 5,000 Nigerians and support the livelihoods of more than 25,000 others who sell Eleganza products.
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.
Exclusive Content For Paid Supporters
South African tycoon Adrian Gore makes $41 million from Discovery stake in just 8 days
The rebound follows a $22.6 million decline in his stake between January 7 and 19.
South African tycoon, Terrence Moolman, rakes in $4 million from Caxton shares
In just six days, the market value of his stake has climbed by $4.06 million, bringing his total holdings to $124.26 million.
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.
Two years after Funke Opeke’s MainOne deal, Equinix unveils $1 billion data center in Saudi Arabia
The announcement was made at the LEAP 2025 tech conference in Riyadh, which brought together participants from 18 countries.
Egyptian multimillionaire Ghabbour family’s stake in GB Corp falls by $19.65 million
The Ghabbour family holds a 63.4 percent controlling stake in GB Corp., equivalent to 688.2 million shares.
Egyptian tycoon Mohamed Morshedy’s firm buys iconic Fouda Tower for $49.7 million
Morshedy Group is set to redevelop the 50-story Fouda Tower into a luxury mixed-use development featuring high-end residences and a premium hotel.
Abdallah Sallam’s Madinet Masr backs Disney on Ice grand finale in Cairo
The event, celebrating 100 years of Disney magic, reflects Madinet Masr’s commitment to enriching Egypt’s cultural and entertainment scene.
Egypt’s second-richest man, Naguib Sawiris’ net worth soars past $7 billion
With his net worth now at $7.27 billion, Sawiris remains Egypt’s second-richest man, trailing his younger brother, Nassef Sawiris, who is worth $8.99 billion.
Egyptian billionaire Hisham Talaat Moustafa unveils $27 billion plan to rebuild Gaza
His plan focuses on housing, infrastructure, and international cooperation to address the crisis.
Egyptian tycoon Hassan Allam’s group expands agri-portfolio with Jinet Agriculture
As part of this move, Jinet Agriculture has acquired 14,100 feddans in West Minya from the Egyptian Countryside Development Company.
Egyptian tycoon Hani Berzi faces $6.9 million loss as Edita Food stake plunges
Wary investors have been pulling back from the company as part of a broader shift on the EGX, increasing selling pressure on Edita Food’s stock.
Two years after Funke Opeke’s MainOne deal, Equinix unveils $1 billion data center in Saudi Arabia
The announcement was made at the LEAP 2025 tech conference in Riyadh, which brought together participants from 18 countries.
Africa’s richest man, Aliko Dangote’s net worth grows by $201 million in 24 hours
With this latest boost, his year-to-date loss has narrowed to $461 million.
Sanlam, backed by Patrice Motsepe, partners with Fedhealth to expand affordable healthcare in South Africa
Sanlam partners with Fedhealth to provide integrated healthcare, insurance, and investment solutions, expanding affordable healthcare access to South Africans.
Nigerian tech entrepreneur Victor Alade’s Raenest secures $11 million to expand cross-border payment solutions
This latest funding follows a $700,000 pre-seed round in 2022 and a $2.6 million seed round in 2023, bringing Raenest’s total funding to $14.3 million.
Nigerian banker Adaora Umeoji-led Zenith Bank lists 9.67 billion shares on NGX after hybrid offer
Zenith Bank adds 9.67 billion shares on NGX, capital boost meets CBN requirement.
Sayyu Dantata’s MRS Oil cuts petrol price after Dangote Refinery’s reduction
This follows Dangote Oil Refinery’s recent move to lower its ex-depot price by 6.3 percent, from N950 ($0.64) to N890 ($0.60), after a drop in global crude oil prices.
Refinery owned by Africa’s richest man set to hit full capacity in 30 days
The refinery last month announced plans to construct eight new crude storage tanks to secure a stable supply of imported oil.
How a tailor’s son became a multimillionaire: The rise of Nigerian industrialist Razaq Okoya
Okoya’s legacy is about people. His companies employ over 5,000 Nigerians and support the livelihoods of more than 25,000 others who sell Eleganza products.
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.
Gus Attridge’s stake in Africa’s largest pharma company drops by $12 million
His 19,188,850 shares are now valued at R3.24 billion ($175.82 million), reflecting the latest decline in Aspen’s stock price.
Zimbabwe’s 10 richest men in 2025
Their influence extends across industries that define the country’s financial pulse: telecommunications, real estate, mining, energy, retail, and finance.
Internet group led by South African billionaire Koos Bekker buys back $196 million in shares
While continuing its buyback program, Prosus is also looking ahead, with plans to invest nearly $20 billion in Europe.
South African tycoon Adrian Gore makes $41 million from Discovery stake in just 8 days
The rebound follows a $22.6 million decline in his stake between January 7 and 19.
UK-based firm opposes Dominic Sewela-Barloworld’s delisting plan
UK-based investor Silchester rejects $1.24-billion offer, arguing it undervalues the company and lacks sufficient shareholder backing.
South African tycoon, Terrence Moolman, rakes in $4 million from Caxton shares
In just six days, the market value of his stake has climbed by $4.06 million, bringing his total holdings to $124.26 million.
South African billionaire Michiel le Roux's Capitec Bank stake rebounds above $2.2 billion
Capitec Bank shares have edged up 1.07 percent since Jan. 1, despite an early dip in January.
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.
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.
Latest Posts
Two years after Funke Opeke’s MainOne deal, Equinix unveils $1 billion data center in Saudi Arabia
The announcement was made at the LEAP 2025 tech conference in Riyadh, which brought together participants from 18 countries.
Egyptian multimillionaire Ghabbour family’s stake in GB Corp falls by $19.65 million
The Ghabbour family holds a 63.4 percent controlling stake in GB Corp., equivalent to 688.2 million shares.
Africa’s richest man, Aliko Dangote’s net worth grows by $201 million in 24 hours
With this latest boost, his year-to-date loss has narrowed to $461 million.
Sanlam, backed by Patrice Motsepe, partners with Fedhealth to expand affordable healthcare in South Africa
Sanlam partners with Fedhealth to provide integrated healthcare, insurance, and investment solutions, expanding affordable healthcare access to South Africans.
Nigerian tech entrepreneur Victor Alade’s Raenest secures $11 million to expand cross-border payment solutions
This latest funding follows a $700,000 pre-seed round in 2022 and a $2.6 million seed round in 2023, bringing Raenest’s total funding to $14.3 million.
Gus Attridge’s stake in Africa’s largest pharma company drops by $12 million
His 19,188,850 shares are now valued at R3.24 billion ($175.82 million), reflecting the latest decline in Aspen’s stock price.
Zimbabwe’s 10 richest men in 2025
Their influence extends across industries that define the country’s financial pulse: telecommunications, real estate, mining, energy, retail, and finance.
Internet group led by South African billionaire Koos Bekker buys back $196 million in shares
While continuing its buyback program, Prosus is also looking ahead, with plans to invest nearly $20 billion in Europe.
South African tycoon Adrian Gore makes $41 million from Discovery stake in just 8 days
The rebound follows a $22.6 million decline in his stake between January 7 and 19.
Egyptian tycoon Mohamed Morshedy’s firm buys iconic Fouda Tower for $49.7 million
Morshedy Group is set to redevelop the 50-story Fouda Tower into a luxury mixed-use development featuring high-end residences and a premium hotel.
Alex Karp joins U.S. Black billionaires worth over $10 billion
His net worth has climbed by $3 billion since the start of the year, rising from $7 billion.
Abdallah Sallam’s Madinet Masr backs Disney on Ice grand finale in Cairo
The event, celebrating 100 years of Disney magic, reflects Madinet Masr’s commitment to enriching Egypt’s cultural and entertainment scene.
Nigerian banker Adaora Umeoji-led Zenith Bank lists 9.67 billion shares on NGX after hybrid offer
Zenith Bank adds 9.67 billion shares on NGX, capital boost meets CBN requirement.
UK-based firm opposes Dominic Sewela-Barloworld’s delisting plan
UK-based investor Silchester rejects $1.24-billion offer, arguing it undervalues the company and lacks sufficient shareholder backing.
Sayyu Dantata’s MRS Oil cuts petrol price after Dangote Refinery’s reduction
This follows Dangote Oil Refinery’s recent move to lower its ex-depot price by 6.3 percent, from N950 ($0.64) to N890 ($0.60), after a drop in global crude oil prices.
Egypt’s second-richest man, Naguib Sawiris’ net worth soars past $7 billion
With his net worth now at $7.27 billion, Sawiris remains Egypt’s second-richest man, trailing his younger brother, Nassef Sawiris, who is worth $8.99 billion.
