Africa’s richest 5 percent control $4 trillion, twice the rest of the continent
That staggering imbalance is at the heart of a new Oxfam report that lays bare the depth of inequality spreading across the continent.
Accelerate Property Fund, partly owned by Michael Georgiou, launches $5.57 million rights offer
Accelerate Property Fund launches $5.57 million rights offer as it seeks to stabilize finances and renegotiate Fourways Mall deal.
Mozambique, Aiteo launch 240,000 bpd refinery to position nation as regional energy hub
Aiteo signs EPC deal to build 240,000 bpd Mozambique refinery, boosting energy security and cutting fuel imports in Southern Africa.
Nigerian billionaire Femi Otedola’s Geregu Power sees $57 million in 2025 half-year revenue
Geregu Power, led by Femi Otedola, posts steady $57.4 million revenue in H1 2025, showing strength in a tough energy market.
Rihanna faces billionaire exit as Fenty valuation falters
Rihanna’s fortune slips from $1.4 billion to $1 billion as Fenty brands face slowing sales, cost pressures, and global beauty market fatigue.
Cobus Stofberg: The South African businessman with $114 million stake in media giant Naspers
Cobus Stofberg’s $114 million stake in Naspers highlights his role in building Africa’s top media and tech companies.
Egyptian billionaire brothers, Ahmed and Sadek, gain $80 million from Elsewedy Electric stake
El-Sewedy brothers’ stake in Elsewedy Electric jumps over $80 million in under three weeks as investors rally behind Egypt’s industrial growth.
Ivorian tycoon Koné Dossongui plans $18 million cocoa plant expansion in Cameroon
Dossongui’s Atlantic Cocoa to raise Kribi plant output to 64,000 tons as part of $18M upgrade backed by Swiss machinery firm Bühler.
Tanzanian billionaire Said Bakhresa opens $100 million soya plant in Malawi
$100 million plant to process 500 tons of soya daily, boost Malawi’s agriculture, and reduce reliance on imported cooking oil.
French billionaire Pierre Castel’s beverage empire takes control of Guinness Ghana in $100 million deal
French billionaire Pierre Castel’s beverage empire takes control of Guinness Ghana in $100 million deal
Ghanaian businessman Kevin Okyere’s Springfield denies fraud allegations in $100 million dispute
Kevin Okyere’s Springfield rejects fraud claims, citing due diligence and unresolved funding terms with Petraco.
Africa’s richest man Aliko Dangote outlines expansion plans for $3 billion fertilizer plant
Dangote eyes expansion of $3 billion fertilizer plant to reduce Africa’s imports and boost local food production in 40 months.
Egypt's Naguib Sawiris to invest $100 million in electric motorbike project in Morocco
Naguib Sawiris backs $100 million plan to electrify Morocco’s motorbike transport through affordable battery leasing with BluEV.
Ghanaian businessman Ibrahim Mahama seals $100 million gold financing deal
Ibrahim Mahama’s $100 million deal backs Ghana’s first large-scale, locally owned gold mine, shifting control from foreign to local hands.
South African billionaire Michiel Le Roux’s Capitec stake rises to $2.6 billion
Michiel Le Roux’s Capitec stake climbs to $2.64 billion after a strong share rally, adding $105 million in two weeks.
The world’s 23 Black billionaires in July 2025
Black billionaires near $100 billionaire net worth as AI, energy, and finance drive gains; Dangote and Karp lead the July 2025 ranking.