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Mohammed Al-Amoudi's MIDROC has signed a master agreement with Dubai-based First Group Hospitality to develop 10 Marriott-branded hotels across Ethiopia between 2026 and 2031.
Nestoil's $2 billion bad debt has triggered a CBN dividend suspension at UBA, Access, and FCMB, signaling the end of post-2014 forbearance in Nigerian banking under Governor Cardoso.
Aliko Dangote revealed plans for a 20,000MW power project, a $20 billion dividend promise to African investors and confirmed his refinery has been tested beyond its 650,000 barrel nameplate capacity.
Nestoil's $2 billion bad debt forces the CBN to suspend dividends at UBA, Access, and FCMB; MTN Nigeria Q1 profit jumps 166 percent; GTCO's Segun Agbaje pivots toward payments, wealth, and ecosystem businesses; Al-Amoudi's MIDROC signs a 10-hotel Ethiopia deal with First Group Hospitality.
Tanzanian billionaire Rostam Aziz says his Sh16 billion Taifa Gas LPG terminal in Mombasa's Dongo Kundu SEZ will open in coming months, breaking a duopoly that controls 98% of Kenya's cooking gas imports.
Prima TV, co-owned by Naguib Sawiris and Tarak Ben Ammar, has sold its Italian digital terrestrial TV multiplex for €2.5 million after losing €29.5 million over 2 consecutive years.
Celebrity Net Worth says LeBron James is worth $800 million, not the $1.2 billion Forbes claims, arguing the collapse of SpringHill and flawed wealth math have created a false billionaire narrative.
Warren Buffett's Susan Thompson Buffett Foundation is giving Kenya Sh3.8 billion ($29.2 million) for a second consecutive year as Trump's USAID cuts leave a Sh24.9 billion hole in the health budget.
Hassan Allam met Syrian President al-Sharaa at the People's Palace on May 4, putting Egypt's 90-year-old construction giant at the front of a pan-Arab push into a $400 billion reconstruction market that Saudi, Qatari, Emirati, and Turkish firms have been positioning around for two years.
ATAF released continental HNWI tax guidelines on April 27 as African revenue authorities scale up dedicated wealth-tax enforcement. Oxfam estimates the policy could raise $66 billion annually.
Africa Morocco Link, co-owned by Othman Benjelloun's O Capital Group, plans a Morocco to Canary Islands route within 3 years as it expands its 2-ship fleet to 7 vessels.
The Sentry's leaked-records investigation into Tagwirei's Sakunda partially supports Chiwenga's claim that Zanu PF held a hidden 45 percent stake, James Mwangi's Equity Bank sweeps Kenya's banking awards, and Talaat Moustafa warns Egypt's new property fees could push costs up 15 percent.
Tanzanian billionaire Rostam Aziz urged Kenya and Tanzania to move beyond trade to a single commercial system to draw the capital both economies need.
Mohammed Al-Amoudi's MIDROC Investment Group has signed a deal to develop 10 Marriott-branded hotels across Ethiopia with 1,140 keys opening by 2031.
The Dangote Refinery IPO is on track to open subscription in May, with a Nigerian Exchange listing targeted between June and July. Today's Investor Memo lays out the structural questions Elite subscribers should be asking before the prospectus drops.
The UAE has formally exited OPEC effective May 1, removing the cartel's third-largest producer with 4.8 million bpd capacity from the framework that has structured global oil markets for nearly six decades. The implications for Africa's six remaining OPEC members are not favorable.
