Aliko Dangote's sugar business swings from loss to $30 million H1 profit
Dangote Sugar Refinery posted a ₦41.51 billion half-year profit against a ₦24.27 billion loss a year earlier, as gross margin doubled to 24%.
Billionaire Femi Otedola's First HoldCo to pay out 60% of profit as dividends
First HoldCo will pay out at least 60% of profit as dividends, a policy worth roughly ₦83 billion to chairman Femi Otedola on half-year earnings.
Tanzanian billionaire Rostam Aziz to reopen Ugandan outlets shut by Museveni's son
Museveni has cleared Nation Media Group to resume operations in Uganda, a month after his son shut its outlets down over press freedom.
Tanzania's Mittal brothers buy their third Vivo Energy business in three months
Mount Meru Group, owned by Tanzanian-raised brothers Atul and Arvind Mittal, is buying Vivo Energy's Rwanda and Malawi fuel businesses.
Africa's millionaire population grew 4.1% on gold prices as global wealth hit $98.3 trillion
Africa's millionaire population grew 4.1% in 2025 on higher precious metal prices, with Morocco the fastest-growing market at 16.8%.
Nigerian billionaire Femi Otedola's fortune has grown $400 million this year on a single bank stock
Femi Otedola is worth about $1.7 billion, up $400 million since March, with just over half of that now sitting in a single bank stock.
France's billionaire Perrodo family built an $11.4 billion fortune on Africa's abandoned oil wells
The Perrodo family built an $11.4 billion fortune buying the African oil fields the majors abandoned, and now face a French trial over Congo pollution.
Billionaire Patrice Motsepe's ARM bets $912 million on platinum, reopening the mine it shut
Patrice Motsepe's African Rainbow Minerals will spend $912 million redeveloping the Bokoni platinum mine it closed last year, betting on a supply shortage.
Nigerian tycoon Rasheed Sarumi's Presco stake hits $1 billion after Belgian buyout
Rasheed Sarumi's Presco stake is worth $1.03 billion after buying SIAT from a Belgian family in court restructuring, but his debt position is unknown.
Tony Elumelu's Transcorp H1 profit falls 17% to $39 million as power revenue slides
Tony Elumelu's Transcorp posted a 16.6 percent drop in first-half profit to $39.4 million as gas shortages cut output at its power plants.
Nigerian businessman Kola Karim's Shoreline Power lands $200m Afreximbank facility
Afreximbank has approved a $200 million facility for Kola Karim's Shoreline to fund its share of a $980 million Algerian oil field development.
Nigerian billionaire Femi Otedola spends $56 million on First HoldCo shares in his largest single purchase
Femi Otedola spent about $56 million on 706 million First HoldCo shares, his largest single purchase since taking the bank's chairmanship.
Kenya's wealthy Muguku family nears $70 million sale of Waterfront Karen mall
The heirs of Kenyan poultry billionaire Nelson Muguku are near a deal to sell their Karen mall for about $70 million, half the 2021 asking price.
South African billionaire Koos Bekker opens $14,000-a-night lodge in second English village
The Newt, owned by South African billionaire Koos Bekker, has opened a 16-bedroom private estate in Somerset costing from $14,100 a night.
Billionaire Femi Otedola's First HoldCo H1 profit jumps 83% to $474 million, shares hit record high
Femi Otedola's First HoldCo posted a pre-tax profit of $474 million in the first half of 2026 as its shares hit a record high.
Museveni meets billionaire Rostam Aziz as Uganda media shutdown enters political phase
President Museveni has met billionaire Rostam Aziz, the incoming owner of Nation Media Group, over Uganda's shutdown of the Daily Monitor and NTV Uganda.