Africa's richest man's refinery ramps up to 700,000 barrels a day
Dangote Petroleum Refinery has exceeded its nameplate capacity for the first time, processing 700,000 barrels per day in an official test by its process licensors.
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South African tycoon Johnny Copelyn's HCI is betting its free cash on Namibian oil and gas
Hosken Consolidated Investments has gained 25 percent in the past year and CEO Johnny Copelyn is directing most of its free cash into oil and gas exploration.
French billionaire wants to disinherit his five children and give everything to charity
French billionaire Pierre-Edouard Sterin told the French Senate he wants to disinherit his five children and give his entire fortune to philanthropic causes instead.
Tycoon Anna Mokgokong's Tamasa signs $1.35 billion LNG deal to transform the Eastern Cape's energy landscape
Professor Anna Mokgokong's Tamasa Energy Group has signed a $1.35 billion LNG terminal agreement with Transnet at the Port of Ngqura in South Africa's Eastern Cape.
Deep-Dive Report: Patrice Motsepe’s Second Act
Fresh speculation surrounds Patrice Motsepe's leadership of the Confederation of African Football, with growing talk that the South African billionaire may leave the CAF presidency before his term ends in 2029.
Wealth Intelligence: Othman Benjelloun — The Succession Question
At 93, Othman Benjelloun still holds both the chairman and chief-executive titles at Bank of Africa, still chairs the strategy committee, and by all accounts intends to keep going.
Standard Bank's new report reveals how Africa's wealthiest think about money and why it differs from the West
A new Standard Bank report released June 4 reveals how Africa's wealthiest think about money, risk and wealth transfer in ways that differ sharply from Western norms.
Fidelis Ayebae asked for $12.9 million to keep building Fidson. Investors sent $15.2 million instead
Fidelis Ayebae's Fidson Healthcare has closed its N21 billion ($12.9 million) rights issue 117% oversubscribed, receiving N24.65 billion in applications against N21 billion available, validating three decades of building Nigeria's leading indigenous pharmaceutical manufacturer.
Samaila Zubairu just raised $2 billion for Africa's infrastructure and half the room was Asian banks
Samaila Zubairu's Africa Finance Corporation has closed a $2 billion syndicated loan, its largest ever, with Asian and European banks each accounting for 35% of participating lenders, reflecting deepening global interest in African infrastructure.
Katlego Maphai's Yoco acquires AI startup Dyner to build smarter tools for 200,000 small businesses
South African payments fintech Yoco has made its first known acquisition, buying AI startup Dyner.ai to build smarter tools for independent businesses.
Billionaire Tyler Perry owns 1,500 acres of Georgia and a private island worth $150 million
Tyler Perry owns a 330-acre film studio in Atlanta, a $100 million Georgia mega-mansion still under construction and a private island in the Bahamas.
Africa's richest man built Nigeria's Peugeot assembly plant from scratch and it now rolls out 120 cars a day
Africa's richest man Aliko Dangote acquired a Peugeot assembly licence in 2017 and built a modern car factory in Kaduna that began production in 2022.
Black billionaire Robert F. Smith launches world's first enterprise AI inference cloud backed by $3.5 billion
Robert F. Smith has launched what is billed as the world's first enterprise AI inference cloud, backed by a $3.5 billion compute commitment to SambaNova.
Kevin Hart's $650 million Hartbeat empire is crumbling under layoffs lawsuits and leadership chaos
Kevin Hart's Hartbeat media company, once valued at $650 million, is fighting multiple lawsuits and has been gutted by layoffs and executive departures since 2024.
Elon Musk is on the brink of becoming the world's first trillionaire as SpaceX targets a $1.8 trillion IPO
SpaceX has filed to sell shares at $135 each targeting a $1.8 trillion valuation in what would be the largest stock market debut in history.
Black billionaire Robert F. Smith's Vista Equity is being sued for selling a company to escape a $270 million insider trading case
A former stockholder is suing Robert F. Smith's Vista Equity in Delaware, claiming it sold Integral Ad Science to escape a $270 million insider trading liability.