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Egypt's MNT-Halan will list only its Egyptian arm, at up to $1 billion, keeping its Turkish, Pakistani and Gulf businesses private. And Julius Rone is targeting September for the go-ahead on Nigeria's first floating LNG plant — built to capture gas the country has spent decades burning off.
For a generation, Kate Fotso ran Cameroon's cocoa trade in partnership with Cargill. In January 2025 she walked away from it. The next season was the worst in her company's history. This one, she took the export lead back.
Julius Rone is targeting September for the go-ahead on Nigeria's first floating LNG plant — a locally-led project designed to capture offshore gas the country has spent decades burning off. The prize is real: turning a wasted resource into export revenue. But so is the risk.
Mounir Nakhla plans to float only MNT-Halan's Egyptian arm in Cairo, at up to $1 billion — and keep its faster-growing Turkish, Pakistani and Gulf businesses in private hands, inside a group valued at $1.4 billion in June. The interesting part of the IPO is what he is holding back.
A Lagos court has placed Bode Akindele's estate under the state Administrator-General while his first son challenges the validity of the will.
Aliko Dangote says groundbreaking on the 700,000 barrel-a-day Lamu refinery will take place by October, at a cost revised down to about $16 billion.
Nicky Oppenheimer sold De Beers for $5.1 billion in 2011; the whole company is now being sold for about $1 billion — one of the best-timed exits in business history. And Femi Otedola's bank rally rolls on, his First HoldCo stake crossing $1.2 billion at a record N140.
Ladi Delano built a premium vodka brand in China and got rich. He announced a $1 billion Nigerian investment venture that produced nothing anyone can point to. This week his third act, the mobility company Moove, raised $250 million at a $2.1 billion valuation.
Globacom turns 23 this month, and Mike Adenuga still owns every single share of it. While MTN Nigeria and Airtel Africa listed and raised billions, and 9mobile changed hands twice, Glo stayed wholly private — and slipped from a genuine challenger to a distant third.
In 2011 Nicky Oppenheimer sold his family's 40% of De Beers to Anglo American for $5.1 billion, valuing the whole diamond company at $12.75 billion. This month Anglo agreed to sell 85% of the same company for about $1 billion.
Aliko Dangote has met Canadian Prime Minister Mark Carney to discuss investment partnerships between Canada and Africa. No figures or agreements were disclosed.
Coke Florida, one of the largest Black-owned businesses in America, has renewed a $350 million credit facility that banks oversubscribed.
Energy Exchange of Southern Africa, created by Johann Rupert's Remgro, is building the trading platform for a fully liberalised South African electricity market.
Dangote's refinery aims to raise $5 billion in an October listing, with exchanges in Kenya, South Africa, Egypt, Ghana and Rwanda seeking a role.
David Olurin's Cardinal Torch is building a $4.5 million cashew plant at Sagamu, chasing the processing income Nigeria currently exports to Vietnam and India.
UBS has admitted willfully violating US anti-money laundering law after failing to check the source of wealth of high-risk clients it served.
