Nigerian oil tycoon Uju Ifejika says she put $400 million into a field Chevron let go
Catherine Uju Ifejika says Brittania-U spent $400 million on the Ajapa field it bought from Chevron, as Nigeria targets 2.5 million barrels a day.
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Nigerian cable tycoon George Onafowokan expects rate cuts within two CBN meetings
George Onafowokan says the CBN could start cutting from 26.5% within two meetings, after Coleman spent $20 million generating its own electricity.
Nigerian billionaire Kunle Soname is being pushed to run the NFF, and he keeps saying no
The National Sports Commission favours Kunle Soname for the NFF presidency after the entire executive resigned. He has said he is not interested.
Shoprite grew sales by $1 billion while cutting prices at its cheapest stores
Shoprite added R18.1 billion in sales while running price deflation at Shoprite and Usave, and is buying coffee chain Vida e Caffè and R&A Cellular.
South African billionaires Stephen Saad and Mike Teke are backing a $99 million township fibre push
The DNI consortium paid R1.6 billion for 34.8% of Frogfoot and Vox, a business that lost R256 million and has negative net asset value of R665m.
South Africa's wealthy Wapnick family holds $108 million stake in Octodec as a rival circles
The Wapnick family holds $108 million in Octodec. Emira spent R892 million buying 23.5%, and Octodec's board says the offer undervalued the company.
Aliko Dangote could add $20 billion to his fortune in a single day in October
Bloomberg carries Dangote's refinery at construction cost. Pricing it at what investors paid in July adds $18.5 billion to his fortune overnight.
African Wealth Briefing — Mon., Aug. 31, 2026
An Angolan independent used a legal right of first refusal to snatch two of Chevron's oil blocks from a London-listed bidder — the clearest sign yet that as the majors retreat, African oil is passing into African hands.
The Inside Story: The Missing Ingredient — How Stella Okoli Went From a ₦5,000 Chemist's Shop to Chasing Sub-Saharan Africa's First Drug-Ingredient Plant
In 1977, Stella Okoli opened a small chemist's shop in Lagos with 5,000 naira and her father's house as collateral. She built it into one of Nigeria's largest drugmakers.
Deep-Dive Report: The Clinker Race — How Narendra Raval and Two Rival Billionaires Are Betting $600 Million on Making East Africa's Cement Locally
For two decades East Africa imported the clinker that makes cement. Now three billionaires, led by former temple assistant Narendra Raval, are pouring $600 million into making it locally as the multinationals retreat and tariffs bite. Inside the bet on self-sufficiency.
Investor Memo: The Pre-Emption — How Angola's Etu Energias Used a Right of First Refusal to Take Chevron's Oil Blocks From a London Bidder
Chevron agreed to sell two Angolan oil blocks to London-listed Energean for $260 million. Then Etu Energias, already a partner, used a right of first refusal to take the deal itself. A masterclass in how insiders win — and a signpost to who owns Africa's oil next.
South African tycoon Sandile Zungu cleared to challenge Danny Jordaan for SAFA presidency
SAFA's governance committee cleared Sandile Zungu to run against Danny Jordaan on Sept. 12, settling a dispute that had run since May.
Billionaire Lionel Messi retires from international football after 203 games and 124 goals
Lionel Messi announced his Argentina retirement on Instagram, in a note he wrote on July 21 and revised after his father Jorge died on Aug. 8.
Nigerian billionaire Femi Otedola's 'Making It Big' turns one, 8 lessons from the bestseller
Making It Big turned one on Aug. 18. It won Axiom gold in the US, placed second in London, and Otedola is writing the sequel.
South Africa's Bidvest has stopped buying companies and started generating cash instead
Brian Joffe's Bidvest has closed three acquisitions totaling $102 million (R1.67 billion) in its 2026 financial year, headlined by the $92 million purchase of environmental testing specialist Aquatico Group, as the South African services giant posted $8 billion in revenue.
Nigerian billionaire Phillip Ihenacho is selling most of Azura Power to an Abu Dhabi buyer
ePointZero is buying 90% of Azura Power, the 752MW producer Phillip Ihenacho's Amaya Capital founded in 2010. Amaya keeps a 10% minority stake.