Billionaire Femi Otedola's First HoldCo stake hits $641 million as shares hit record high
Femi Otedola's stake in First HoldCo climbed to about $641 million after the Nigerian bank's shares surged 9.97% to a record N95.95 on Friday.
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Segun Lawson and two Nigerian partners hold close to $60 million in Thor Explorations after the miner posted a $77.3 million second quarter from Segilola.
Egyptian billionaire Samih Sawiris' Orascom Development secures $356 million loan for Cairo mega-project
Orascom Development Egypt, founded by Samih Sawris, has secured a $356 million syndicated loan from three top Egyptian banks to accelerate its O West project.
Court bars expansion at Kenyan billionaire Mohamed Jaffer's Mombasa oil terminal over mangrove damage
A Kenyan court has barred billionaire Mohamed Jaffer's oil company AGOL from new construction at its Mombasa terminal over alleged destruction of a protected mangrove forest.
Billionaire Abdul Samad Rabiu's BUA Foods approves record $363 million dividend and expansion plan
BUA Foods, controlled by billionaire Abdulsamad Rabiu, approved a record $363 million dividend and unveiled an expansion plan to become Nigeria's largest food manufacturer.
Billionaire heiress Mary-Ann Musangi elected vice chair of Kenya manufacturers body
Mary-Ann Musangi, billionaire heiress to Chris Kirubi and managing director of Haco Industries, has been elected vice chairperson of the Kenya Association of Manufacturers.
South African billionaire Zak Calisto's stake in Karooooo crosses $1 billion again after record quarter
Karooooo founder Zak Calisto's direct stake is worth about $1.05 billion after record subscriber additions lifted the vehicle-tracking group's value to $1.81 billion.
Botswana tycoon Chandra Chauhan's Sefalana says government red tape killed his factory plans
Botswana's Sefalana says two food manufacturing projects, a dairy and a cooking-oil plant, collapsed for lack of government support, its managing director said.
Nigerian anti-graft agency re-arraigns tycoon Tunde Ayeni a third time in $11.2 million fraud case
Nigeria's EFCC has re-arraigned former Skye Bank chairman Tunde Ayeni a third time on amended charges of diverting N15.6 billion. He pleaded not guilty.
Billionaire Baba Danpullo's legal battle clouds Tiger Brands' $46 million exit from Cameroon
A long-running legal battle by billionaire Baba Danpullo has frozen part of Chococam's funds, complicating Tiger Brands' exit from the Cameroon cocoa processor.
The Inside Story: Thom Mpinganjira — Built in Grief
A hotel room in South Africa, three months long, where a banker watched his wife die of cancer. Out of it came Malawi's only cancer hospital — and the most revealing chapter in the complicated story of the country's first billionaire, Thom Mpinganjira.
Deep-Dive Report: Abderrahmane Benhamadi — Made in Algeria
A European heatwave, an AfCFTA loophole and a $1 billion family conglomerate: how Abderrahmane Benhamadi's Condor is trying to turn Algeria into an exporter of something other than oil and gas.
Wealth Intelligence: Femi Otedola — The Banker's Bet
Femi Otedola is a Forbes-listed billionaire and the author of one of the boldest bets in Nigerian banking. Yesterday his First HoldCo stake hit a record $530 million. Inside the holdings, the cash flows and the pivot behind the number.
African Wealth Briefing — Thurs., July 16, 2026
Femi Otedola's First HoldCo stake hits a record $530 million as the bank's shares surge. And Dangote's $17 billion Lamu refinery draws its first organised opposition, with Greenpeace demanding a halt.
SpaceX shares fall below $135 IPO price for the first time since debut
SpaceX shares fell below their $135 IPO price for the first time on Wednesday, leaving investors in Elon Musk's rocket company with paper losses.
Billionaire Ibrahim Mahama's E&P accused of espionage in $250 million Ghana gold fight
Engineers and Planners, owned by Ghanaian billionaire Ibrahim Mahama, has been accused of industrial espionage to seize a $250m gold project. It denies wrongdoing.