Kenya signs $1.2 billion JKIA deal with China Road and Bridge; government says Chivayo firm did not bid
Chirchir stated that no Chivayo-linked company bid for the JKIA contract, naming China Road and Bridge Corporation as the signatory.
Billionaire Sheila Johnson's Salamander hotel in Washington DC is in talks to rebrand as a Marriott property
Sheila Johnson's Salamander Washington DC, the 373-room luxury hotel she acquired for $139 million in 2022, is in talks to rebrand under the Marriott flag.
Egyptian billionaire Ahmed El Sewedy backs $500 million deal to manufacture Abu Dhabi-based ROX electric vehicles in Egypt
Ahmed El Sewedy's ESI has partnered with Abu Dhabi-headquartered EV company ROX in a $500 million joint venture to manufacture electric vehicles in Egypt for African markets.
Cosmas Maduka dropped out at six and turned a 1977 N300 bet into a $500 million fortune
Cosmas Maduka dropped out of school at six, was dismissed with N200 by his uncle and built a $500 million empire from a single spare parts stall.
Tanzanian billionaire Edha Nahdi's cement bets pay off as EAPC profit jumps five-fold
Tanzanian tycoon Edhah Abdallah Munif's investments in Kenya's two biggest cement companies are already paying off handsomely, with both posting sharply improved financial results.
Othman Benjelloun leads five Moroccan groups onto Forbes' top 100 Arab family businesses list
Othman Benjelloun's O Capital Group ranked 21st on Forbes Middle East's 2026 Arab family business list as Morocco set a new record with five entries.
Africa's richest man says Forbes is underestimating his fortune. His refinery alone, he says, is worth $40 billion.
Aliko Dangote has pushed back on Forbes' estimate of his net worth, saying his oil refinery alone is worth more than $40 billion.
Nigerian billionaire Ladi Jadesimi will pocket $5.5 million from Aradel Holdings as the company posts its most profitable year ever
Ladi Jadesimi's 5.27 percent stake in Aradel Holdings will earn him N7.5 billion in total dividends for 2025 after the company posted record profits.
John W. Rogers Jr. is leaving Nike's board after eight years and will stay on as a strategic advisor
Ariel Investments founder John W. Rogers Jr. will retire from Nike's board at the September 2026 annual meeting after eight years of service.
Elon Musk's SpaceX shares have dropped 20 percent from their peak and analysts say the stock is worth far less
SpaceX shares have fallen more than 20 percent from their post-IPO high and credible analysts say the stock is still significantly overvalued at current levels.
Thasunda Brown Duckett is managing $1.5 trillion at TIAA and she is trying to fix America's broken retirement system
Thasunda Brown Duckett is managing $1.5 trillion at TIAA and leading a push to fix America's $4 trillion retirement savings gap one annuity at a time.
Nigerian billionaire Femi Otedola's First HoldCo completes $32.8 million capital raise
Femi Otedola's First Bank has completed a N45 billion ($32.8 million) private placement tranche as FirstHoldCo moves toward a shareholder approved N1 trillion capital base.
Burkina Faso tycoon Idrissa Nassa's Coris Holding secures $86.7 million from BIDC to boost small business lending
Idrissa Nassa's Coris Holding has secured an €80 million credit line from West Africa's development bank to expand lending to small and medium enterprises across the region.
Ex-Nigerian Oil Minister Alison-Madueke cleared of bribery by London jury
A London jury has cleared Diezani Alison-Madueke of all bribery charges after a five-month trial, closing an eleven-year chapter for Nigeria's former oil minister.
Egyptian billionaire Naguib Sawiris joins the $2 million pre-seed round of UAE fintech Sovra as an early backer
Egyptian billionaire Naguib Sawiris has joined a $2 million pre-seed round in UAE fintech Sovra, a self-custodial global dollar account platform.