Nigerian billionaire Rasheed Sarumi's Presco commits $200 million to Ondo oil palm project
Presco will invest an initial $200 million in Ondo State to build oil palm plantations, a processing mill and a refinery, its chief executive said.
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Zimbabwean tycoon Simon Rudland opens $25 million citrus plant at the South African border
Simon Rudland has commissioned a $25 million citrus processing plant at Beitbridge that will supply juice to Schweppes Zimbabwe and export markets.
Kenyan multimillionaires Robert Kirubi and Mary-Ann Musangi to pocket $1.25 million in Centum dividend
Robert Kirubi and Mary-Ann Musangi will take about $1.25 million from Centum's record dividend through the 31% stake inherited from their father.
Botswana tycoon Ramachandran Ottapathu's Engen takeover faces public competition hearing
Botswana's competition regulator has opened Ramachandran Ottapathu's bid for 70% of Engen Botswana to public submissions before reaching a decision.
Kenyan media mogul SK Macharia held in contempt of court in Directline dispute
Kenya's High Court has held media mogul SK Macharia in contempt for breaching orders in the long-running Directline Assurance ownership dispute.
African Wealth Briefing — Sat., Aug. 1, 2026
Angola turned an asset it seized from Isabel dos Santos into the largest IPO in its history. And Patrice Motsepe's near-billion-dollar platinum bet drew a rare vote of doubt, as the market marked his miner down 21% while its rivals rose.
The Inside Story: Paul Obambi — The Long Line to the Sea
Paul Obambi bought the iron-ore project a South African major had given up on, then spent a decade chasing the one thing that would make it worth anything: a 450-kilometre railway to the ocean.
Deep-Dive Report: Patrice Motsepe's ARM — Against the Cycle
Patrice Motsepe's African Rainbow Minerals is spending about $925 million to reopen a platinum mine it shut two years ago — a bet that the whole sector's retreat went too far. Inside a contrarian wager, and why the timing, not the thesis, is what's on trial.
Wealth Intelligence: Angola — Selling What It Seized
Angola raised $321 million floating 15% of Unitel — the mobile operator it took from Isabel dos Santos four years ago. The largest IPO in the nation's history is really a test of a much bigger question.
Tanzanian tycoon Ghalib Said Mohamed puts $5.7 million into Yanga's transfer spending
Ghalib Said Mohamed's GSM Group has allocated TSh15 billion, about $5.7 million, purely for player recruitment at Tanzanian champions Young Africans.
Nigerian billionaire Abdul Samad Rabiu is building 120 homes for junior soldiers
Nigerian billionaire Abdul Samad Rabiu is privately funding 120 homes for junior Nigerian Army personnel, a ₦2 billion project now 85 percent complete.
Egypt's richest man Nassef Sawiris lifts OCI stake to 57% in $14 million purchase
Nassef Sawiris has bought 3 million more OCI shares for about €12.2 million, lifting his combined holding to 57.1% of the Dutch-listed company.
Burkinabè billionaire Idrissa Nassa pushes Coris Bank into Central African Republic
Coris Bank International, founded by Burkinabè businessman Idrissa Nassa, plans to open in the Central African Republic as it pushes into Central Africa.
Botswana tycoon Chandra Chauhan's Sefalana cuts dividend 60% as diamond slump hits profit
efalana posted record revenue of P12.1 billion but its first profit fall since 2017, cutting the total dividend to 20 thebe from 50 thebe.
Nigerian pipeline security mogul Tompolo accused of abduction as contract tops $200 million
Youths from Warri have accused Government Ekpemupolo of abduction on video, as his pipeline security firm's federal contract passes $200 million since 2022.
Egyptian billionaire Hisham Talaat Moustafa wins final approval for $27 billion Cairo city
Egypt's cabinet has approved the country's first private investment zone with its own customs system for Hisham Talaat Moustafa's LE1.4 trillion Spine project.