South African billionaire Koos Bekker to retire as Naspers chair by 2028
Koos Bekker will retire as chair of Naspers and Prosus in the year to March 2028, ending three decades at the company he built around Tencent.
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Africa's richest man says fuel import licences are squeezing his Nigerian refinery
Dangote Refinery says imported petrol took 43% of Nigeria's market in July and that licences are still being issued despite ample local capacity.
Blu Label, controlled by South Africa's Levy brothers, swings to a $306 million loss
Blu Label Unlimited posted a R4.9 billion loss after writing down Cell C, but paid a dividend for the first time in eight years.
Ventures Platform closes $84 million fund after backing Moniepoint and Paystack
Ventures Platform closed its second fund at $84 million, above a $75 million target, with EBRD and Norfund joining as new investors.
Ugandan steel magnate Sikander Lalani opens a $125 million mill
Museveni opened Roofings Group's $125 million cold rolling complex at Namanve as the company moves to mine and process Ugandan iron ore for itself.
Ugandan billionaire Sudhir Ruparelia collects a $603,000 dividend from Bank of Baroda Uganda
Sudhir Ruparelia received a Shs2.25 billion dividend from Bank of Baroda Uganda. His stakes in two listed lenders are worth about $15.3 million.
Elon Musk receives the Order of Freedom, one of Ukraine's highest honours
Zelenskyy awarded Elon Musk the Order of Freedom for Starlink's role in the war, while pressing him to allow its use over Russian territory.
Late German billionaire Klaus-Michael Kuehne leaves $49 billion fortune to his foundation
Klaus-Michael Kuehne died at 89 with no children. His $49 billion portfolio, built on Kuehne+Nagel and Hapag-Lloyd, passes to a Swiss foundation.
Swvl raises $13m from Naguib Sawiris-backed Coefficient for US push
Four years after a $1.5bn SPAC listing that unravelled, Egypt's Swvl has raised $13 million led by Coefficient LP, the Houston firm backed by the Sawiris family — funding a US push and a new lending product for transport operators.
LeBron James borrowed $300M from Guggenheim-linked insurers
Months before he signed with the Lakers in 2018, LeBron James' LLC sold nearly $300 million in bonds to two life insurers advised by Mark Walter's Guggenheim — backed by his Nike deal and not due until 2049.
Aliko Dangote to buy ships as Nigeria vessel shortage bites
Dangote plans to acquire its own ships after failing to find a vessel to move 1,000 tonnes of cement to Ghana, exposing Nigeria's export shipping shortage.
South African wine magnate Wendy Appelbaum exports 75% of her output as volumes fall
South Africa's wine exports fell 13.8% by volume last year. Wendy Appelbaum's De Morgenzon ships three-quarters of its output to premium markets.
Aliko Dangote's refinery turned Nigeria from a fuel importer into an exporter to Europe
The US Energy Information Administration says Nigeria's seaborne petroleum product exports have grown seven-fold since 2023, driven entirely by output from Aliko Dangote's Lagos refinery.
South African tycoon Jens Montanana's Datatec to return $432 million dividend to shareholders
Datatec will return about R7 billion ($432 million) to shareholders through a special dividend, after refinancing its Westcon unit with General Atlantic.
How Johann Rupert and Koos Bekker cut a secret deal with Cyril Ramaphosa to save Vodacom and MTN in the 1990s
Johann Rupert and Koos Bekker struck a secret deal with Cyril Ramaphosa in the early 1990s, giving trade unions a 5% stake in Vodacom and MTN to prevent the ANC from canceling the networks' operating licenses after apartheid ended.
President Paul Kagame says Rwanda wants a stake in Dangote's $16 billion Kenyan refinery
Rwanda's President Paul Kagame has confirmed his country is in early talks about taking a stake in Aliko Dangote's planned $16 billion Lamu oil refinery, saying Rwanda would be "very happy" to participate.