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Stephen Saad said you have to be within six months of the first launch to be part of market formation. This week Africa's largest drugmaker won approval to sell a generic Ozempic in Canada — and then discovered it has no ingredient to make it with.
Aziz Akhannouch is worth $1.6 billion, controls the group that sells roughly a third of Morocco's fuel, and runs the government that sets fuel policy and awards public contracts. Inside the structure of a fortune that sits on both sides of the same market.
Johann Rupert spent months examining a "potentially very significant" investment — and walked away. Reinet is now buying back up to €500 million of its own shares instead, sitting on the largest cash pile in its history.
France is in talks with Nigerian billionaire Mike Adenuga over funding a new Institut Français in Abuja, where Macron will lay the foundation stone.
Aliko Dangote's refinery has raised $2.5 billion in Africa's largest private equity placement, valuing it near $40 billion ahead of a planned listing.
Malagasy tycoon Mamy Ravatomanga has spent seven months in a Mauritian prison on provisional charges, with prosecutors yet to file any formal accusation.
Aziz Akhannouch is worth $1.6 billion, sells Morocco a third of its fuel, and runs the government that awards his companies contracts.
Finance Bank Malawi, linked to Zambian magnate Rajan Mahtani, is battling the government over a $284 million compensation claim after an unlawful licence revocation.
Tanzanian billionaire Rostam Azizi's $124 million Taifa Gas terminal in Mombasa is nearing completion, poised to break Kenya's cooking gas import duopoly.
Global Witness alleges First Quantum secretly funded Zambia's ruling party and won $771 million in tax breaks. The Canadian miner rejects the claims entirely.
Fondation H, created by Franco-Malagasy magnate Hassanein Hiridjee, will close its Paris art space in September to refocus on the African continent.
Femi Otedola's First HoldCo overtakes Zenith and GTCO to become Nigeria's most valuable bank — and his stake tops $700 million. Meanwhile Nassef Sawiris' Aston Villa banks a record $157 million, and the continent's fortunes keep working.
In 1989 a Cameroonian banker submitted a doctoral thesis in Bordeaux arguing that Africa's informal economy was not a failure but a financial revolution waiting for its institution. He then spent 36 years building the institution. Last week it opened in one of the least-banked countries on earth.
A record $363 million dividend, a 95% jump in profit, and a bet to become Nigeria's largest food manufacturer by next year. Inside Abdul Samad Rabiu's plan to win the staple-food market on sheer volume.
Aliko Dangote has raised about $2.5 billion privately at a ~$40 billion valuation, days before floating the refinery on the Nigerian Exchange. Last week we called the IPO the hinge of his whole network. This is the hinge turning.
Palantir chief Alex Karp says AI could make him twenty times richer, pushing his fortune toward $300 billion, while ordinary workers see only modest gains.
