Wealth Intelligence: The Refinery Network
How Aliko Dangote's $17 billion Lamu bet turns a single plant into a continental system — and what it signals about the IPO to come.
South African billionaire Zak Calisto's Karooooo posts record results as Cartrack accelerates
Billionaire Zak Calisto's Karooooo posted record full-year results as Cartrack subscription revenue rose 19%, and it raised its dividend 20% to $1.50.
South Africa's richest man received a $140 million fee from Reinet's big sale
A Rupert family entity was paid a 2.3 billion rand performance fee after Johann Rupert's Reinet sold its largest asset for about 62 billion rand.
DR Congo opens corruption probe into billionaire Rawji family, owners of Rawbank
DRC prosecutors have opened a corruption inquiry touching the Rawji family, owners of the country's biggest bank, then lifted a travel ban on them.
Billionaire Ibrahim Mahama's company defies court order over $100 million Ghana gold mine
A company owned by Ibrahim Mahama, brother of Ghana's president, has refused to leave a disputed $100 million gold mine despite two court rulings.
African Wealth Briefing — Thurs., July 9, 2026
Aliko Dangote picks Lamu for a $17 billion Kenyan refinery — his second continental-scale bet in a fortnight. Michiel le Roux borrows $402 million against his Capitec shares.
Tyler Perry accusers' lawyer alleges billionaire abused 'many other' aspiring male actors
A lawyer suing Tyler Perry on behalf of two accusers now alleges in a court filing that the billionaire abused "many other" aspiring male actors.
Senegalese billionaire Yerim Sow's Bridge Bank opens $118 million share sale on the BRVM
Yerim Sow's Bridge Bank has opened a $118 million offer for 20% of its shares, ahead of a listing on West Africa's BRVM exchange.
African Wealth Briefing — Wed., July 8, 2026
Dangote's refinery overtakes the United States as Europe's top jet fuel supplier. Tony Elumelu will step down as UBA chairman after 12 years.
African Wealth Briefing — Mon., July 6, 2026
Angola prepares to sell shares in Unitel — the telecom empire it seized from Isabel dos Santos. Robert Gumede wants to turn Tongaat's sugarcane into power and fuel.
Nigerian businessman Tony Elumelu to retire as UBA chairman, Nnorom to take over
Tony Elumelu will step down as UBA Group chairman on August 21 after 12 years, with veteran banker Emmanuel Nnorom named as his successor.
African Wealth Briefing — Fri., July 3, 2026
South Africa rejects a wealth tax in a win for its billionaire class. Johann Rupert's Richemont parts with a 196-year-old watchmaker.
Ivorian billionaire Jean-Louis Billon's Sucrivoire is the BRVM's best-performing stock in 2026
Jean-Louis Billon's Sucrivoire has surged 190 percent on West Africa's BRVM exchange in 2026, making it the region's best-performing stock despite losing $11 million last year.
South Africa rejects wealth tax in win for billionaires
South Africa's Finance Minister Enoch Godongwana has rejected a wealth tax, delivering a direct win to the country's billionaire class led by Johann Rupert and Patrice Motsepe.
Nigerian billionaire Oba Otudeko's Honeywell Group acquires 14% of Ikeja Hotel
Oba Otudeko's Honeywell Group has acquired a 14 percent stake in Ikeja Hotel Plc, valued at approximately N13.2 billion at current market prices.
African Wealth Briefing — Thurs., July 2, 2026
Johann Rupert's Remgro takes full control of Mediclinic in a $947 million deal. OCI's board backs Nassef Sawiris' bid to take the company private.