Media mogul Byron Allen cuts 180 BuzzFeed jobs to save $32 million a year
Byron Allen is cutting 35% of BuzzFeed's workforce, about 180 roles across BuzzFeed, HuffPost and Tasty, to save up to $32 million annually.
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Nigerian tycoon Michael J. Prest sues Zambia's central bank for $40 million over Investrust collapse
Michael Prest's Bank of Nevis International is seeking $40 million from Zambia's central bank over the 2024 liquidation of Investrust Bank.
Billionaire Femi Otedola's First HoldCo becomes Nigeria's most valuable bank at $4.22 billion
Billionaire Femi Otedola's First HoldCo closed at ₦5.78 trillion, or $4.22 billion, passing Zenith and GTCO to become Nigeria's most valuable bank.
Mohan Vaswani's Tolaram turned Diageo's $70 million Guinness Nigeria exit into $355 million
Tolaram takes ₦8.9 billion from Guinness Nigeria's dividend on a stake it bought for ₦103.7 billion and which is now worth ₦486.8 billion.
Angola raises $321 million selling Unitel stake it seized from Isabel dos Santos
Angola raised $321 million selling 15% of Unitel, the telecoms group it nationalised from Isabel dos Santos, in its largest IPO to date.
Ghanaian tycoon Joseph Siaw Agyepong backs Nasdaq-listed health venture with $1.3 million
Joseph Siaw Agyepong's Jospong Group is providing the cash in a $2.5 million digital health joint venture with Nasdaq-listed MNDR in Ghana.
Tanzanian billionaire Rostam Aziz to reopen Ugandan outlets shut by Museveni's son
Museveni has cleared Nation Media Group to resume operations in Uganda, a month after his son shut its outlets down over press freedom.
Tanzania's Mittal brothers buy their third Vivo Energy business in three months
Mount Meru Group, owned by Tanzanian-raised brothers Atul and Arvind Mittal, is buying Vivo Energy's Rwanda and Malawi fuel businesses.
African Wealth Briefing — Tues., July 28, 2026
Aspen is handed a once-monthly HIV pill for 129 countries, royalty-free. Africa's biggest betting brand vanishes into an untraceable UAE firm. And the family that got rich on the wells the majors abandoned heads for a Paris courtroom.
The Inside Story: The Wells Others Left
In the early 1990s a French engineer bought an ageing Gabonese oil field that Amoco had written off. That single unwanted reservoir became the model for an $11.4 billion fortune built almost entirely on the barrels the majors abandoned across Africa.
Deep-Dive Report: Who Owns the House
Two Kenyan businessmen spent six years and a maze of holding companies fighting to control SportPesa. This week, filings showed an untraceable firm in the United Arab Emirates now holds 54% of the operator.
Wealth Intelligence: The Molecule and the Map
Merck handed Aspen the right to make a once-monthly HIV pill across 129 countries. It is the second pharma prize Africa's largest drugmaker has landed this month.
Tunisian tycoon Rached Horchani's conglomerate spans tuna fleets, Sahara hotels and banks
Rached Horchani's group runs tuna fleets, date farms, olive oil mills, three Sahara hotels, quarries and stakes across Tunisia's banks.
Nigerian billionaire Aliko Dangote will give a third of his fortune to charity - $11.6 billion today
Aliko Dangote will leave a third of his fortune to charity. That is $11.6 billion today, before his refinery reaches the market.
Cameroonian oil magnate Antoine Ndzengue loses Central African fuel monopoly after IMF-requested audit
Central African lawmakers have voted to end the ten-year fuel import monopoly held by Cameroonian businessman Antoine Ndzengue's Neptune Oil.
Egyptian healthcare tycoon Hend El Sherbini's $291 million take-private draws zero acceptances
IDH chief executive Hend El Sherbini's $291 million bid to take the Egyptian diagnostics group private had drawn no acceptances by July 22.