South African billionaire Mark Shuttleworth rules out Canonical IPO
Open-source infrastructure house Canonical has the financial base for a public listing, but founder and CEO Mark Shuttleworth says the timing is wrong.
Oppenheimer family is South Africa’s top declared political donor
The Oppenheimer family has become the biggest source of declared private funding in South African politics, steering more than R200 million to six parties since disclosures began in 2021.
Uganda's richest man Sudhir Ruparelia funds 100 scholarships in memory of late son
Ugandan businessman Sudhir Ruparelia and his wife, Jyotsna, launched 100 full scholarships at Victoria University under a bursary named for their late son, Rajiv, marking one of the largest single-year awards in the school’s history.
Nigerian banking and private aviation mogul Atedo Peterside calls for electoral reform
Anap Foundation’s Atedo Peterside says Nigeria’s election manager must face tougher disclosure rules and time-bound audits, arguing courts have “failed woefully” and investor confidence is at risk.
Seplat co-founder ABC Orjiako faces $220 million judgment in BVI court
A British Virgin Islands judge granted Access Bank a US$220 million summary judgment against Seplat co-founder ABC Orjiako, piercing offshore structures tied to historic oil-sector debts.
Nigerian billionaire Arthur Eze faces backlash in Liberian parliament over oil deal
Liberian MPs have urged colleagues to reject production-sharing deals with Arthur Eze’s Atlas Oranto, citing a chequered record and opaque terms. The Boakai administration says the agreements will revive offshore exploration.
Nigerian businessman Ernest Azudialu faces $1 billion debt fight as banks seize Nestoil
A Lagos court has placed Nestoil under receivership in a debt dispute exceeding $1bn, thrusting founder Ernest Azudialu-Obiejesi into the spotlight as banks move to seize assets and police seal the firm’s Victoria Island headquarters.
One of Kenya’s richest men, Jimi Wanjigi, urges end to boarding schools
Businessman and political figure Jimi Wanjigi says Kenya should phase out boarding schools, citing “traumatic” experiences for students and arguing the system must evolve. He backs a day-school approach aligned with ongoing education reforms.
Since 2021, billionaire Patrice Motsepe has bankrolled six SA parties to the tune of $3.5 million
South African billionaire Patrice Motsepe has disclosed R62.5m in donations to six parties since 2021, with the ANC taking the biggest share, filings show.
Nigeria's NIPCO, controlled by Indian billionaire Ramesh Kansagra, acquires 19% of Savannah Energy
NIPCO Plc, controlled by the wealthy Kansagra family via Purebond, is acquiring about 19% of London-listed Savannah Energy.
Dangote to expand refinery to 1.4 million barrels a day, eyes $55 billion in annual revenue
Aliko Dangote plans to double the capacity of his Lagos refinery to 1.4 million barrels a day, aiming to make it a global refining leader. The billionaire also reaffirmed plans to list shares on the NGX and promised steady fuel supply during the festive season.
Nigerian tycoons Ladi Jadesimi and Adegbite Falade gain $25.7 million as Aradel stock rallies 25 percent
A one-week surge in Aradel’s share price added $25.7 million to the fortunes of founder Ladi Jadesimi and CEO Adegbite Falade. Rising output, fresh deals and a steadier oil market helped drive the rally.
Neville Koopowitz, Discovery’s UK boss, earns nearly $5 million, topping CEO’s pay
Neville Koopowitz, head of Discovery Group’s U.K. unit, earned almost $5 million in the last financial year, topping the pay of founder and CEO Adrian Gore.
South Africa's richest black man Patrice Motsepe dismisses ANC presidency rumors
South African billionaire Patrice Motsepe has denied speculation that he plans to run for the ANC presidency. Speaking in Johannesburg, Motsepe said his focus remains on business and philanthropy, not politics, dismissing weeks of mounting rumors about a potential candidacy.
Dangote’s refinery IPO could make him Africa’s first $100 billion man
Nigeria’s richest man is preparing to list a slice of his refinery, and if the market agrees with his valuation, it could send his net worth soaring to levels few in the world have reached.
NBA champion Masai Ujiri partners with Hilton to open first Rwanda hotel
Hilton has signed three new Tapestry Collection hotels across Sub-Saharan Africa, including a Kigali property by Masai Ujiri’s Zaria Group.