African Wealth Briefing — Wed., June 3, 2026
Jim Ovia's Zenith Bank stake climbs to $643 million as the naira firms. Ghana's Kasapreko closes its GH¢700 million IPO ahead of a June 17 listing.
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LeBron James is about to hit free agency and his $1.4 billion empire is what's really at stake
LeBron James has entered free agency and wherever he lands next, the bigger story is what happens to the $1.3 billion empire built around him.
Ghana sues Jospong founder Siaw Agyepong over $2 million claimed gap in a $178 million road contract
Ghana's Attorney-General has filed a lawsuit against Jospong founder Joseph Siaw Agyepong and his firm J.A. Plant Pool over a $2 million gap in a $178 million road contract.
Ghanaian Civil society backs tycoon Ibrahim Mahama's Damang mine takeover as legal and governance questions mount
A Ghanaian civil society group has backed Ibrahim Mahama's Engineers and Planners over the Damang Mine takeover as governance questions and a legal battle continue to escalate.
Stellenbosch FC fans ask billionaire owner Johann Rupert to spend more money on the club
Stellenbosch FC's birthday tribute to billionaire owner Johann Rupert prompted an immediate wave of fan debate over his level of investment in the club.
King Mswati III raised €12.8 million in a single day to rescue the 79-nation OACPS from financial collapse
King Mswati III raised €12.8 million in a single day at the OACPS Summit in Malabo, rescuing the 79-nation organisation from a financial crisis that threatened its existence.
Nigerian lawmakers reject move to break up Tompolo's Tantita pipeline contract
Nigerian lawmakers and Niger Delta stakeholders have formally rejected calls to decentralise Tompolo's Tantita pipeline surveillance contract, backing a long-term extension instead.
James Mwangi's Equity Group signs landmark ITC deal to unlock trade finance for East Africa's coffee, leather and creative sectors
Equity Group and the International Trade Centre have signed a partnership to unlock trade finance for East African small businesses in coffee, leather and creative industries.
Tycoon Tony Elumelu's Heirs Insurance hits two million customers, ranks among Africa's fastest-growing companies in 5 years
Tony Elumelu's Heirs Insurance Group has reached two million customers and ranked seventh on the Financial Times Africa fastest-growing companies list for 2026.
Nigerian cement billionaires win big as Dangote, BUA and Lafarge post $554 million in combined Q1 profits
Nigeria's three biggest cement producers posted a combined N762.97 billion in first-quarter profits in 2026, a 57 percent jump driven by elevated cement prices.
Billionaire Sandile Zungu just won South Africa's lottery and a Madagascar nickel mine in the same year
Sandile Zungu started 2026 by acquiring a Madagascar nickel mine and ended it by taking over South Africa's national lottery in a remarkable double play.
Billionaire Jay-Z may be buying Uncle Nearest whiskey after his $20 million secret loan surfaces in court
Uncle Nearest's court-appointed receiver has filed to sell the whiskey brand to an anonymous Black investor, and a hidden Jay-Z loan is driving intense speculation.
Harrods goes to court to replace executors of Mohamed Al Fayed's estate over solvency fears
Harrods has launched legal action to replace the executors of Mohamed Al Fayed's estate, citing solvency concerns and fears that abuse victims will not be compensated.
Africa's richest man Aliko Dangote is now the world's biggest jet fuel exporter
Aliko Dangote's 650,000 barrel-per-day refinery became the world's single largest jet fuel exporter in April, capitalising on Middle East supply disruptions to reshape global energy trade.
The Richest Black women in America 2026
Oprah Winfrey, Rihanna, Beyoncé and Sheila Johnson lead a powerful group of Black women who have built some of America's most impressive fortunes.
50 Cent built a $100 million empire from rap royalties, Vitaminwater and a TV production machine
Curtis "50 Cent" Jackson has built an estimated $100 million empire spanning television production, premium spirits, real estate and a landmark Louisiana studio deal.