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South Africa is the only African country in the global top 20 for billionaire growth; Hiridjee joins Jumia board; Moulay Elalamy takes 92.3% of Sweden's Arktika bank; and Anthropic pays SpaceX $1.25B/month.
Jailed Algerian automobile tycoon Mahieddine Tahkout appeared before Algeria's financial crimes tribunal over new charges of money laundering and over a billion euros in assets hidden in Switzerland and France.
Egypt's Elsewedy Electric is part of a new Algerian-Egyptian industrial consortium targeting investments in Cameroon's energy and industrial sectors, according to reporting from News du Camer.
Only four in 10 African board members feel confident their CEO succession planning leaves the organisation stronger, according to the 2026 Heidrick and Struggles CEO and Board Confidence Monitor.
Ahmed El Sewedy met Egypt's Prime Minister Madbouly on May 24 to outline Elsewedy Electric's expansion plans, including a new 80,000-vehicle-per-year automotive factory with global partners.
Jumia shareholders formally elected Hassanein Hiridjee to the supervisory board on May 15 with 98% support, cementing Axian's governance role as the NYSE-listed e-commerce group targets 2027 profitability.
Prateek Suri claims a $5 billion acquisition made him Africa's richest Indian. The acquirer changes names depending on which publication you read, and his products are nearly impossible to find in African retail.
Aliko Dangote says the oil mafia tried to kill his refinery; Standard Bank overtakes Capitec and FirstRand at R517 billion; Johann Rupert delivers €22.4 billion in Richemont sales and signals a more relaxed outlook.
Canal Plus will list on the Johannesburg Stock Exchange on June 3 as it battles declining DStv subscribers, with MultiChoice revenue falling 6% in Q1 2026.
Standard Bank closed Friday at a market cap of R517 billion, overtaking both Capitec and FirstRand to become Africa's most valuable bank on the JSE.
Othman Benjelloun has surfaced in Billionaires.Africa coverage five times in two weeks. A 93-year-old engineer from Fez built one of Africa's most geographically distributed banking networks. What the May visibility represents.
Aliko Dangote's refinery exports gain momentum as regional demand surges; James Mwangi accelerates Equity Group's expansion into Central Africa; Strive Masiyiwa invests in African satellite and connectivity infrastructure.
S&P upgraded Nigeria's sovereign credit rating to B from B-, specifically naming the Dangote Refinery's ramp-up to near full capacity as a key driver of the country's improving economic outlook.
Aliko Dangote says Africa's next industrial revolution must be powered by local capital; James Mwangi targets Francophone Africa in Equity Group's next expansion phase; Strive Masiyiwa backs major African data-center expansion.
SpaceX filed for a $2 trillion IPO that will make Elon Musk the world's first trillionaire and turn at least four of his close allies into billionaires.
Moroccan billionaire Moulay Hafid Elalamy has acquired a majority stake in Arktika Capital AB, a Swedish licensed credit institution that buys and manages non-performing loan portfolios across Europe.
