Nigerian cable tycoon George Onafowokan expects rate cuts within two CBN meetings
George Onafowokan says the CBN could start cutting from 26.5% within two meetings, after Coleman spent $20 million generating its own electricity.
South African tycoon Sandile Zungu cleared to challenge Danny Jordaan for SAFA presidency
SAFA's governance committee cleared Sandile Zungu to run against Danny Jordaan on Sept. 12, settling a dispute that had run since May.
Angolan billionaire Alberto Almeida de Sousa's Etu Energias to acquire Chevron's blocks for $260 million
Etu Energias, half owned by Alberto Almeida de Sousa, is buying Chevron's stakes in Blocks 14 and 14K for $260 million, displacing Energean.
Billionaire Naguib Sawiris wants to run some of Egypt's airports
Orascom Investment is forming a consortium with a global airport operator to bid for some of the 11 Egyptian airports going to private hands.
Mauritius says Malagasy billionaire Mamy Ravatomanga plotted a sea escape in $156 million case
Mauritius says Mamy Ravatomanga planned to leave by sea and made illicit calls from prison. His lawyer calls it conjecture with no evidence behind it.
Dutch-Nigerian billionaire Cornelis Vink owns the tower Burna Boy craned a Ferrari into
Cornelis Vink sold Chivita to Coca-Cola for $1 billion and bought Union Bank. His Kaizen Properties is building Burna Boy's Bourdillon tower.
Angolan tycoon Carlos São Vicente, jailed for embezzlement, says he could lose a kidney
Carlos São Vicente, jailed since 2020 over Angola's $900 million insurance case, says he faces kidney failure and sepsis without urgent surgery.
South African mining mogul Bridgette Motsepe-Radebe controls just one of her mines
Bridgette Motsepe-Radebe controls 51% of one colliery. Everything else her company Mmakau Mining holds is a minority stake in somebody else's operation.
South African mining tycoon Daphne Mashile-Nkosi could lose her mine over a $375 million debt
A court cleared the IDC to put Kalagadi Manganese into business rescue over $375 million. The lender was Daphne Mashile-Nkosi's first backer.
Blu Label, controlled by South Africa's Levy brothers, swings to a $306 million loss
Blu Label Unlimited posted a R4.9 billion loss after writing down Cell C, but paid a dividend for the first time in eight years.
Ventures Platform closes $84 million fund after backing Moniepoint and Paystack
Ventures Platform closed its second fund at $84 million, above a $75 million target, with EBRD and Norfund joining as new investors.
Nigerian billionaire Femi Otedola spends $9 million more on First HoldCo shares
Femi Otedola bought 95.7 million more First HoldCo shares at N131.48 on Monday, paying 6.1% less than he did ten days ago as the stock retreated.
South African billionaire Johann Rupert's daughter Hanneli now runs his Venice craft biennial
Hanneli Rupert, daughter of Richemont chairman Johann Rupert, runs the Homo Faber craft biennial in Venice, which opens for a month on Sept. 1.
Billionaire Ray Dalio says put 10% to 15% of your portfolio into gold
Ray Dalio has told investors to underweight bonds and hold 10% to 15% in gold, warning a US debt crisis could arrive within five years.
Burkinabè billionaire Idrissa Nassa's Coris Bank commits $712 million to hospitals and schools
Idrissa Nassa's Coris Bank has committed to mobilise $712 million for four university hospitals and 27 schools under a memorandum signed in Ouagadougou.
Billionaire Robert F. Smith's Vista is exploring a $3 billion sale of Allvue Systems
Vista Equity Partners, founded by Robert F. Smith, has hired Evercore and Barclays to explore a sale of Allvue Systems at up to $3 billion.