Nigerian billionaire Femi Otedola's fortune has grown $400 million this year on a single bank stock
Femi Otedola is worth about $1.7 billion, up $400 million since March, with just over half of that now sitting in a single bank stock.
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France's billionaire Perrodo family built an $11.4 billion fortune on Africa's abandoned oil wells
The Perrodo family built an $11.4 billion fortune buying the African oil fields the majors abandoned, and now face a French trial over Congo pollution.
Africa's richest man Aliko Dangote raises $2.5 billion in record private placement
Aliko Dangote's refinery has raised $2.5 billion in Africa's largest private equity placement, valuing it near $40 billion ahead of a planned listing.
Africa's richest man Aliko Dangote turns to exports as Nigeria's petrol imports triple
Nigeria's gasoline imports tripled in June as Aliko Dangote's refinery cut domestic supply to sell abroad and earn the dollars it needs to buy crude.
Billionaire Patrice Motsepe's ARM bets $912 million on platinum, reopening the mine it shut
Patrice Motsepe's African Rainbow Minerals will spend $912 million redeveloping the Bokoni platinum mine it closed last year, betting on a supply shortage.
Senegalese billionaire Yerim Sow's Bridge Bank sells out $118 million offer in a day
Bridge Bank, controlled by Senegalese billionaire Yerim Sow, raised its full $118 million target within 24 hours of opening its share offer on the BRVM.
Madagascar tycoon Mamy Ravatomanga has spent seven months in jail without formal charge
Malagasy tycoon Mamy Ravatomanga has spent seven months in a Mauritian prison on provisional charges, with prosecutors yet to file any formal accusation.
Nigerian tycoon Rasheed Sarumi's Presco stake hits $1 billion after Belgian buyout
Rasheed Sarumi's Presco stake is worth $1.03 billion after buying SIAT from a Belgian family in court restructuring, but his debt position is unknown.
Africa's richest man Aliko Dangote's refinery runs at half capacity as exports fall
Aliko Dangote's refinery is operating at roughly half throughput after an equipment fault, pushing product exports to their lowest level in three months.
Tony Elumelu's Transcorp H1 profit falls 17% to $39 million as power revenue slides
Tony Elumelu's Transcorp posted a 16.6 percent drop in first-half profit to $39.4 million as gas shortages cut output at its power plants.
Morocco's prime minister is worth $1.6 billion and sells a third of its fuel
Aziz Akhannouch is worth $1.6 billion, sells Morocco a third of its fuel, and runs the government that awards his companies contracts.
Johann Rupert's Reinet walks away from major deal and restarts $585 million buyback
Johann Rupert's Reinet has walked away from a major investment it spent months assessing, restarting a $585 million buyback of its own shares instead.
Billionaire Patrice Motsepe rules out South African presidency and FIFA bid in double denial
Billionaire Patrice Motsepe has ruled out running for South Africa's presidency, and separately rejected any interest in leading FIFA after Gianni Infantino.
Aspen, controlled by tycoon Stephen Saad, wins Canadian approval for generic Ozempic
Stephen Saad's Aspen Pharmacare has won Canadian approval for a generic Ozempic, but an ingredient supply failure will keep it off shelves for months.
Nigerian businessman Kola Karim's Shoreline Power lands $200m Afreximbank facility
Afreximbank has approved a $200 million facility for Kola Karim's Shoreline to fund its share of a $980 million Algerian oil field development.
Nigerian billionaire Femi Otedola spends $56 million on First HoldCo shares in his largest single purchase
Femi Otedola spent about $56 million on 706 million First HoldCo shares, his largest single purchase since taking the bank's chairmanship.