Decoding the UK's new tax reforms: What high-net-worth Africans need to know
Why the Statutory Residence Test matters: The UK's new tax rules abolish the "non-dom" system, meaning foreign income and gains are now taxable even if kept abroad.
Latest
South African billionaire Patrice Motsepe’s net worth rebounds to $3 billion after $300 million gain
Motsepe’s net worth surged to $3 billion for the first time since August 2024, marking a significant recovery.
Egyptian businessman Hisham Talaat Moustafa gains $54 million as TMG stock rises
The recovery follows a sharp decline between Jan. 1 and Feb. 7, when the market value of his stake dropped by EGP 2.84 billion ($56.48 million).
Elsewedy Electric, led by the Egyptian billionaire El-Sewedy family, reports $4.58 billion revenue
With a strong financial foundation, Elsewedy Electric is positioning itself for further expansion, reinforcing its role as a key player in the global energy and infrastructure market.
South African banker Jason Quinn receives $5.8 million salary from Nedbank
The salary reflects his leadership in driving the bank’s growth, strengthening its market position, and navigating an evolving financial landscape.
Access Holdings, led by Aigboje Aig-Imoukhuede, to finalize National Bank of Kenya acquisition
The deal, which has been in the works for months, is now awaiting final approval from the Central Bank of Kenya (CBK).
Exxaro appoints Zimbabwean mining tycoon as chief executive, declares $165 million dividend
Ben Magara’s appointment follows a fast-tracked selection process after the resignation of former CEO Nombasa Tsengwa.
Power company owned by Nigerian businessman Adedeji Adeleke could be worth $1.4 billion
His power company, Pacific Energy currently operates two gas-fired power plants in Nigeria’s southwest region.
Nigerian oil magnate Tein Jack-Rich puts BelemaOil up for sale
This comes just five months after BelemaOil restarted production at Oil Mining Lease 55 (OML 55).
13 companies owned by Nigerian shipping tycoon Victor Odili
His investments have positioned him as a quiet force in Nigeria’s corporate world, with ownership in some of the country’s most essential industries.
Former chief of Africa’s biggest firm makes $19 million in just over a month—here’s how
Over the past 37 days, Bob van Dijk’s stake has increased by R353.53 million ($19.39 million) amid renewed investor confidence.
Botswana businessman Anthony Gilby’s Tlou Energy posts $3.7 million loss
The company, still in its exploration and evaluation phase, generated no revenue during the period but continued to invest heavily in its gas-to-power project.
Zak Calisto’s Karooooo faces major write-down after political unrest in Mozambique
It expects minimal impact on earnings and cash flow, as Mozambique contributes a small share of profits across 25 countries.
Seplat, co-founded by Nigerian tycoon Austin Avuru, unveils $650 million notes to slash debt costs
As part of the refinancing process, Seplat has also launched a tender offer allowing investors to sell back their 2026 notes before the March 18, 2025, deadline.
Naira slide cuts $500 million from Nigeria’s third-richest man’s wealth in 24 hours
The sharp decline highlights the volatility of Nigeria’s currency and its direct impact on the fortunes of the country’s wealthiest individuals.
Sue Nabi, Algerian-born French beauty mogul, rakes in $6 million from Coty
This follows a sharp drop between Jan. 27 and Feb. 19, when her stake fell by $64.05 million, from $242.51 million to $178.46 million.