Cameroon's richest man Baba Danpullo launches Douala fund to manage family fortune
Cameroon's richest man Baba Danpullo has launched Danpullo Capital, a Douala joint venture with Kessner Capital, to grow family assets.
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Kenya's wealthy Muguku family nears $70 million sale of Waterfront Karen mall
The heirs of Kenyan poultry billionaire Nelson Muguku are near a deal to sell their Karen mall for about $70 million, half the 2021 asking price.
Zambian tycoon Rajan Mahtani's Finance Bank battles Malawi government over $284 million compensation claim
Finance Bank Malawi, linked to Zambian magnate Rajan Mahtani, is battling the government over a $284 million compensation claim after an unlawful licence revocation.
Nigerian politician Abdulaziz Yari sits on $400 million paper gain at Geregu despite sharp share price slide
Abdulaziz Yari holds a roughly $400 million paper gain on his Geregu Power stake despite a 28 percent share price slide, because he bought at a discount.
Egypt's billionaire El Sewedy family deepens education push with eight new German-model tech schools
Egypt's billionaire El Sewedy family is partnering with the government to launch eight Egyptian-German technical schools built on a German training model.
Billionaire Rostam Aziz's $124 million Mombasa gas terminal nears completion to break Kenya import duopoly
Tanzanian billionaire Rostam Azizi's $124 million Taifa Gas terminal in Mombasa is nearing completion, poised to break Kenya's cooking gas import duopoly.
Nigerian billionaire Arthur Eze's Oranto and Petrobras were the only bidders as São Tomé scraps oil auction
São Tomé scrapped its offshore oil auction after only Arthur Eze's Oranto and Petrobras bid, a sign of waning appetite for frontier exploration.
Global Witness says First Quantum bankrolled Zambia's president as tax breaks topped $771 million
Global Witness alleges First Quantum secretly funded Zambia's ruling party and won $771 million in tax breaks. The Canadian miner rejects the claims entirely.
Bill Gates visits Rwanda to review AI health rollout backed by $50 million pilot
Bill Gates is in Rwanda to review its health and AI progress, months after his foundation and OpenAI made it the launch site for a pilot.
Founding family's grip on Dis-Chem loosens as Ivan Saltzman's son quits the board
Saul Saltzman, son of Dis-Chem's billionaire founder Ivan Saltzman, has resigned from the board, loosening the founding family's grip on the retailer.
Malagasy billionaire Hassanein Hiridjee's Fondation H to close Paris art space in September
Fondation H, created by Franco-Malagasy magnate Hassanein Hiridjee, will close its Paris art space in September to refocus on the African continent.
African Wealth Briefing — Tues., July 21, 2026
Femi Otedola's First HoldCo overtakes Zenith and GTCO to become Nigeria's most valuable bank — and his stake tops $700 million. Meanwhile Nassef Sawiris' Aston Villa banks a record $157 million, and the continent's fortunes keep working.
The Inside Story: Paul Fokam Kammogne — The Thesis
In 1989 a Cameroonian banker submitted a doctoral thesis in Bordeaux arguing that Africa's informal economy was not a failure but a financial revolution waiting for its institution. He then spent 36 years building the institution. Last week it opened in one of the least-banked countries on earth.
Deep-Dive Report: BUA Foods — Scale Matters
A record $363 million dividend, a 95% jump in profit, and a bet to become Nigeria's largest food manufacturer by next year. Inside Abdul Samad Rabiu's plan to win the staple-food market on sheer volume.
Investor Memo: Aliko Dangote — The Down Payment
Aliko Dangote has raised about $2.5 billion privately at a ~$40 billion valuation, days before floating the refinery on the Nigerian Exchange. Last week we called the IPO the hinge of his whole network. This is the hinge turning.
Billionaire Femi Otedola's First HoldCo becomes Nigeria's most valuable bank stock, passing Zenith and GTCO
Femi Otedola's First HoldCo has overtaken Zenith and GTCO to become Nigeria's most valuable banking stock, reaching N4.80 trillion.