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Strive Masiyiwa left an exchange that priced Econet at $239 million against $779 million of revenue, and listed its towers, power and property at $1 billion instead. Four months later InfraCo had lost a third. What the $309 million says about his holdings, and about being right too early.
Mzi Khumalo bought Lonmin's Zimbabwean gold mines for $15.5 million in 2002 and built Metallon into the country's biggest gold producer.
Five Boeing 777s registered in Madagascar ended up with a sanctioned Iranian airline. The trial of 33 defendants has been put back to Oct. 27.
Fresh from listing his refinery, Aliko Dangote unveiled a $3.5 billion, 2,650-kilometre pipeline to pump fuel across Southern Africa. And in South Africa, Saki Macozoma sold his entire manganese business to Exxaro for R11.7 billion.
In 1977, GT Ferreira and two partners applied for a banking licence in South Africa. They were refused. So, over the next eight years, they simply built the thing the regulator wouldn't hand them — buying their way into control of a merchant bank and turning it into the foundation of FirstRand.
Emeka Okwuosa's Oilserv helped build the AKK pipeline, Nigeria's gas backbone. Two months later it signed to develop two blocks in Gabon — the moment a contractor becomes a developer. Inside Nigeria's indigenous pipeline champion and its move up the value chain, and across borders.
Saki Macozoma just sold his entire manganese business to Exxaro for R11.7 billion — and kept the trucking, gaming, telecoms and copper. A clean, total exit from one capital-hungry commodity, and a lesson in what a diversified owner should hold and what he should let go.
Gerrit Ferreira and two partners were refused a banking licence in 1977. Eight years later they took control of Johann Rupert's Rand Merchant Bank.
Andrew Forrest's Fortescue has bought Penske Autosport's Formula E operation and will race as Fortescue Zero Racing in partnership with Jaguar.
Jim Ratcliffe told the BBC the UK economy is on the slide, blaming high taxes and immigration, and said he would return only if things improve.
Dangote's record refinery IPO is running, its boss defending a $49 billion valuation against US and Turkish refiners worth a quarter as much, as Nigeria's trade minister claims it could add $60 billion to the market.
Ethiopia is one of the hardest markets in Africa for foreign money to enter — the state held telecoms, banking and energy for decades, land cannot be owned, and getting cash out is a struggle. When Japan Tobacco wanted in, it paid $1.4 billion and needed a local partner.
Mofid Karameh arrived in Nigeria three decades ago carrying a toolbox and started repairing generators. Today his Mikano assembles pickup trucks, boats, surgical syringes, brake pads, face masks and chocolate wafers.
Glencore has just taken a $480 million provision — one of the largest trading losses in its history as a public company — on a single counterparty, and now faces a $2 billion lawsuit from that same former partner.
Forbes has revalued Aliko Dangote above $50 billion, adding about $20 billion, after the July private placement repriced his refinery.
Africa's largest-ever IPO opens today: Dangote's refinery begins selling ₦2.15 trillion of shares to a target of 10 million Nigerians.
