Ted Turner, billionaire founder of CNN, dies at 87
Ted Turner, the billionaire media maverick who founded CNN and revolutionised television news with the first 24-hour news channel, has died at 87.
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Ghanaian Liquor tycoon Kwabena Adjei moves to list Kasapreko PLC on the Ghana Stock Exchange with $62 million IPO
Kasapreko PLC, the Ghanaian company behind Alomo Bitters, has launched a GH¢700 million IPO on the Ghana Stock Exchange to fund a new factory, coming off a 55% profit jump in Q1 2026.
Nigerian billionaire Kola Karim's Arkad wins a $1 billion Algeria gas contract alongside Egypt's PETROJET
Kola Karim's Arkad Engineering has won a $1 billion Algeria gas contract alongside Egypt's PETROJET for the Hassi Bir Rkaiz field, the biggest deal yet from his 2024 acquisition of the Italian EPC firm.
Seplat just handed Mohamed Farouk's ADES a $92.7 million contract. The Saudi driller now has more than $843 million staked on Nigeria
Mohamed Farouk's ADES International has secured a $92.7 million offshore drilling contract with Seplat Energy in Nigeria, bringing the company's cumulative Nigerian contract value to over $843 million since entering the market in 2025.
Google is moving to cut AI deals with Blackstone and KKR before OpenAI and Anthropic get there first
Sundar Pichai's Google is in talks with Blackstone, KKR and EQT to give their combined portfolio companies access to its AI models, as OpenAI and Anthropic move to lock up the same customer base first.
The Inside Story: Al-Amoudi’s MIDROC Bets on Ethiopian Tourism — 10 Marriott-Branded Hotels and a Long-Horizon Wager on the Country’s Reopening
Mohammed Al-Amoudi's MIDROC has signed a master agreement with Dubai-based First Group Hospitality to develop 10 Marriott-branded hotels across Ethiopia between 2026 and 2031.
Executive Insight: The Nestoil Loan Crisis and Cardoso’s Reset — What the CBN Dividend Block Tells Foreign Investors About Nigerian Bank Stability
Nestoil's $2 billion bad debt has triggered a CBN dividend suspension at UBA, Access, and FCMB, signaling the end of post-2014 forbearance in Nigerian banking under Governor Cardoso.
Elon Musk closes Twitter SEC case for $1.5 million, keeps $150 million repayment
Elon Musk has settled the SEC's lawsuit over his delayed Twitter disclosure, with a $1.5 million penalty marking the end of a three-year legal battle.
Aliko Dangote reveals a 20,000MW power project and makes a $20 billion dividend promise in a wide-ranging conversation with IFC
Aliko Dangote revealed plans for a 20,000MW power project, a $20 billion dividend promise to African investors and confirmed his refinery has been tested beyond its 650,000 barrel nameplate capacity.
Access Holdings, controlled by Aigboje Aig-Imoukhuede, must sell down foreign subsidiaries within 12 months after new Central Bank rule
Access Holdings will reduce equity stakes in foreign subsidiaries within 12 months after the CBN ordered Nigerian banks to limit overseas equity investments to 10% of shareholders' funds.
African Wealth Briefing — Wed., May 6, 2026
Nestoil's $2 billion bad debt forces the CBN to suspend dividends at UBA, Access, and FCMB; MTN Nigeria Q1 profit jumps 166 percent; GTCO's Segun Agbaje pivots toward payments, wealth, and ecosystem businesses; Al-Amoudi's MIDROC signs a 10-hotel Ethiopia deal with First Group Hospitality.
Tanzanian billionaire Rostam Aziz says his Taifa Gas plant in Mombasa will open in months
Tanzanian billionaire Rostam Aziz says his Sh16 billion Taifa Gas LPG terminal in Mombasa's Dongo Kundu SEZ will open in coming months, breaking a duopoly that controls 98% of Kenya's cooking gas imports.
Egyptian billionaire Naguib Sawiris and Tarak Ben Ammar sell their loss-making Italian DTT multiplex for €2.5 million after bleeding €29 million in 2 years
Prima TV, co-owned by Naguib Sawiris and Tarak Ben Ammar, has sold its Italian digital terrestrial TV multiplex for €2.5 million after losing €29.5 million over 2 consecutive years.
Employees at billionaire Mahamadou Bonkoungou's EBOMAF in Gabon say they have gone a year without pay slips, health insurance
Workers at Ebomaf Group's Gabon construction sites staged a peaceful protest on May 4, alleging unpaid leave, missing pay slips for up to a year, no accident insurance and salary blackmail.
Is LeBron James really a billionaire? Celebrity Net Worth says no
Celebrity Net Worth says LeBron James is worth $800 million, not the $1.2 billion Forbes claims, arguing the collapse of SpringHill and flawed wealth math have created a false billionaire narrative.
Warren Buffett's foundation gives Kenya $29 million for a second straight year
Warren Buffett's Susan Thompson Buffett Foundation is giving Kenya Sh3.8 billion ($29.2 million) for a second consecutive year as Trump's USAID cuts leave a Sh24.9 billion hole in the health budget.