Ivorian tycoon Koné Dossongui brings private equity investor into his insurance group
Mediterrania Capital Partners has invested in AFG Assurances, the insurance arm of Koné Dossongui's Atlantic Group, which plans to double to 14 insurers.
Otobong Tommy
Reporter
Otobong Tommy is a business writer and researcher with a background in public administration. She has worked with media and policy-adjacent institutions including Ventures Africa and NAEC, contributing to research and business reporting.
Canadian billionaire Robert Friedland approves $322 million US-backed scandium mine
Robert Friedland’s Sunrise Energy Metals will build the $322 million Syerston scandium mine in Australia, backed by up to $400 million in conditional U.S. debt.
American billionaire Max Levchin, worth $2.3 billion, may quit California over 5% wealth tax
Affirm co-founder Max Levchin says he would probably leave California if voters pass Proposition 40, a one-time 5% tax on billionaires’ net worth.
Cape Town runs short of luxury homes as millionaires move in
Millionaires from Johannesburg and abroad are competing for a shrinking supply of luxury homes in Cape Town, with some houses selling within days of listing.
Billionaire Patrice Motsepe’s GoTyme eyes $15 billion listing as it chases Capitec
Patrice Motsepe-backed GoTyme wants 30 million South African customers by 2036, enough to overtake Capitec, and eyes a listing valued above $15 billion.
Ghanaian billionaire Ibrahim Mahama's promised football pitch takes shape near Damang gold mine
Construction is advancing on the astroturf football pitch Ghanaian billionaire Ibrahim Mahama promised Damang residents when his company took over the gold mine in April.
Kenyan billionaire Narendra Raval has spent $1.5 billion on cement and steel plants
Kenyan tycoon Narendra Raval's Devki Group has committed more than Sh200 billion over five years to new cement and steel capacity across East Africa.
Aradel, backed by five African billionaires, lifts nine-month revenue to $2.9 billion
Aradel Holdings, in which five African billionaires own about a quarter, raised nine-month revenue sevenfold to ₦3.95 trillion after absorbing Shell's former onshore fields.
Egyptian billionaire Ahmed Elsewedy's Elsewedy Electric moves into elevators
Elsewedy Electric, the industrial group run by Egyptian tycoon Ahmed Elsewedy, has launched an elevator brand and wants 1 billion pounds in sales in 2027.
American billionaires Tarek Mansour and Luana Lopes Lara face felony charges in Utah
Utah has charged prediction market Kalshi and its billionaire co-founders Tarek Mansour and Luana Lopes Lara with promoting illegal gambling. Kalshi called it political overreach.
American billionaire Rick Jackson's Georgia governor campaign spends $220 million
Rick Jackson, the founder of Jackson Healthcare, has spent about $220 million chasing the Georgia governor's office, with nearly $165 million going to TV ads.
Nigerian billionaire Aliko Dangote signs deal to supply fuel to Cameroon
Cameroon's state refiner has signed a fuel supply deal with Aliko Dangote's group, as the country, without a working refinery since 2019, seeks steady supplies.
Madagascar billionaire Hassanein Hiridjee's AXIAN secures $34 million for four Benin solar plants
AXIAN, led by Madagascar billionaire Hassanein Hiridjee, has signed €30 million of financing to build four solar plants with 62 megawatts of capacity in Benin.
South African billionaire Ivan Saltzman's Dis-Chem sees half-year earnings fall 13%
Dis-Chem, the South African pharmacy chain founded by billionaire Ivan Saltzman, gained market share with its loyalty programme, but half-year earnings fell 13%.
Australian pubs tycoon Sam Arnaout seals $140 million takeover of Cairns casino
Australian pubs tycoon Sam Arnaout has secured 96.5% of the trust that owns Cairns' only casino, letting him take full ownership and delist it.
Czech arms billionaire Michal Strnad offers $33.6 billion for Ray-Ban family's empire
Czech defense billionaire Michal Strnad has offered €30 billion for Delfin, the Del Vecchio family holding company that controls Ray-Ban maker EssilorLuxottica.