Tony Elumelu's United Capital acquires 5-percent stake in Nigerian Exchange Group
United Capital, the Pan-African group backed by financier Tony Elumelu, has completed the acquisition of a 5% equity stake in Nigerian Exchange Group.
Latest
Steve Harvey slept in his car for three years and built a $200 million empire from that Ford Tempo
Steve Harvey lived in his 1976 Ford Tempo for three years and built a $200 million media empire that earns him $45 million annually.
Russell Simmons sold Def Jam for $120 million and built a $340 million empire on a broken promise
Russell Simmons turned a Queens street hustle into a $340 million empire that invented the hip-hop economy. What he left behind tells a harder story.
Lionel Richie filed four trademarks on his own voice to stop AI from cloning it without permission
Lionel Richie has filed four trademark applications on his voice to stop AI platforms from cloning it without his permission or compensation.
Nigerian-born Hakeem Olajuwon built a $300 million fortune without ever borrowing a dollar
Hakeem Olajuwon left Lagos as a teenage goalkeeper, became the NBA's best center, then built a $300 million fortune refusing to borrow a cent.
Hakeem Olajuwon built a $300 million real estate empire without borrowing a single dollar
Hakeem Olajuwon built a $300 million real estate empire across Houston and beyond, financing every deal with cash and zero debt, guided entirely by his Islamic faith.
Paul Pogba built a $10 million home portfolio he kept walking away from
From a Manchester mansion with its own football pitch to a $6 million Miami tower beside the Beckhams, Paul Pogba's property run keeps moving on.
Africa Finance Corporation lends Dangote Group $600 million to triple its fertiliser production capacity
Africa Finance Corporation has signed a $600 million loan with Dangote Group to triple fertiliser production capacity in Nigeria and build a new plant in Ethiopia.
Billionaire Christo Wiese's Shoprite just blew past its store opening target
Shoprite has exceeded its full-year store opening target with a month to go, boosting the value of Christo Wiese's $1.2 billion stake in the retailer.
Multimillionaire Gerrie Fourie says South Africa's dysfunction is exactly what makes it worth staying for
Capitec co-founder Gerrie Fourie says South Africa's dysfunction creates opportunities unavailable elsewhere and urged South Africans considering emigration to think carefully before leaving.
NBA champions New York Knicks are paying their roster $211 million and Karl-Anthony Towns leads at $53 million
The NBA champion New York Knicks carry a $211.7 million payroll, second highest in the league, led by Karl-Anthony Towns at $53.1 million this season.
The Inside Story: The $39 Billion Question
A decade in the making and only now running at full capacity, the world’s most ambitious refinery had never carried a market price. In ten days this month, it finally did — and the demand suggests the number is a floor.
Deep-Dive Report: Naguib Sawiris – The Safe-Haven Pivot
The eldest Sawiris turned a telecom windfall into a gold-and-property empire built for turbulent times — and his net worth now depends on which index you read. Inside the holdings, the strategy, and the range.
Wealth Intelligence: Patrice Motsepe – The $700 Million Reversal
A gold correction stripped $700 million from South Africa’s richest Black industrialist in three months. The episode is a window into a fortune built on mining beta — and the quieter machine built to offset it.
African Wealth Briefing — Mon., June 15, 2026
Rob Hersov tells the mines minister to fix the sector or forfeit the country's future. Robert Gumede nears a deal to resolve the Tongaat Hulett crisis.
Nigerian billionaire Femi Otedola completes London Business School programme
Nigerian billionaire Femi Otedola, who dropped out of high school at 17 without completing his A-Levels, has completed an executive programme at London Business School at 63.