Nigerian billionaire Muhammadu Indimi joins court fight against his twin daughters over $43.5 million
Muhammadu Indimi has applied to be joined personally in the appeal against a $43.51 million judgment his twin daughters won from Oriental Energy.
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.
Egyptian billionaire Hisham Talaat Moustafa wins final approval for $27 billion Cairo city
Egypt's cabinet has approved the country's first private investment zone with its own customs system for Hisham Talaat Moustafa's LE1.4 trillion Spine project.
Nigerian tycoon Samuel Bolarinde's Vitafoam stake hits $25.3 million after 747% share surge
Samuel Bolarinde's 12.03% stake in Vitafoam Nigeria is worth ₦35.16 billion, or $25.3 million, after a 747% share price surge since 2025.
Nigerian billionaire Rasheed Sarumi's Presco sees profit falls 20% to $23.8 million in second quarter
Presco's second-quarter profit fell 20% to ₦33 billion as revenue declined, with earnings per share dropping to ₦28 from ₦41 a year earlier.
Nigerian billionaire Aliko Dangote's cement sales rose 22% last quarter, profit just 4%
Dangote Cement lifted half-year profit 24% to ₦640.2 billion, but second-quarter profit growth slowed to 4.4% even as revenue rose 22.2%.
Turkish billionaire Fuat Tosyalı's Algerian cold rolling mill produces its first steel
Fuat Tosyalı's Algerian subsidiary has rolled its first cold-rolled steel at Béthioua, completing the largest Turkish industrial investment outside Turkey.
Billionaire Femi Otedola's First HoldCo becomes Nigeria's most valuable bank at $4.22 billion
Billionaire Femi Otedola's First HoldCo closed at ₦5.78 trillion, or $4.22 billion, passing Zenith and GTCO to become Nigeria's most valuable bank.
Mohan Vaswani's Tolaram turned Diageo's $70 million Guinness Nigeria exit into $355 million
Tolaram takes ₦8.9 billion from Guinness Nigeria's dividend on a stake it bought for ₦103.7 billion and which is now worth ₦486.8 billion.
Cameroonian oil magnate Antoine Ndzengue loses Central African fuel monopoly after IMF-requested audit
Central African lawmakers have voted to end the ten-year fuel import monopoly held by Cameroonian businessman Antoine Ndzengue's Neptune Oil.
Kenyan tycoons Ronald Karauri and Robert Macharia lose SportPesa control to anonymous UAE firm
A UAE-registered firm with no traceable owner holds 54% of SportPesa's Kenyan operator, cutting Ronald Karauri and Robert Macharia below 4%.
Swiss billionaire Thomas Flohr's VistaJet takes eighth Global 8000 as Africa to Asia flying surges
Thomas Flohr's Vista Global has converted an eighth Global 7500 into a Global 8000, adding range as Africa to Asia flying surges.
Stephen Saad's Aspen secures royalty-free rights to Merck's once-monthly HIV pill
Stephen Saad's Aspen Pharmacare is one of seven drugmakers licensed to make Merck's once-monthly HIV prevention pill in 129 countries.
Byron Allen cuts HuffPost jobs weeks after buying a $91 million Aspen estate
Byron Allen is cutting more than a dozen jobs at HuffPost, weeks after buying a $91 million Aspen estate and months after taking control of BuzzFeed.
Ghanaian food entrepreneur Catherine Krobo Edusei sells control of Eden Tree after 29 years
Catherine Krobo Edusei has sold majority control of Eden Tree, the Ghanaian fresh produce brand she founded in 1997 and built over 29 years.
Black-owned staffing firm Epitec acquires TalentBurst's IT and government businesses
Epitec, one of the largest Black-owned firms in the United States, has acquired the IT and government staffing divisions of Boston-based TalentBurst.
Africa's richest man Aliko Dangote's refinery runs at half capacity as exports fall
Aliko Dangote's refinery is operating at roughly half throughput after an equipment fault, pushing product exports to their lowest level in three months.