Kenyan billionaire Narendra Raval starts building $386 million cement plant in Kitui
Narendra Raval's Devki Group has begun building a 50 billion shilling cement factory at Ngaaie in Mwingi North, due to open in mid-2027.
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Nigerian tycoon AbdulWasiu Sowami's Ardova is buying Africa's largest CNG producer
A consortium led by AbdulWasiu Sowami's Ardova will buy 100% of Powergas, one of Africa's largest producers of compressed natural gas.
Nigerian billionaire Aliko Dangote shows William Ruto the refinery Kenya wants to copy
William Ruto toured Aliko Dangote's Lekki refinery on Sept. 25, five days before breaking ground on a $17 billion Kenyan refinery at Lamu.
Billionaire David Rubenstein's two biggest mistakes: dumping Amazon and laughing off Facebook
Billionaire David Rubenstein says his gravest investing errors were selling an early Amazon stake and ignoring a $30,000 Facebook pitch, as he explains buying the Orioles.
Nigerian tycoon Orji Uzor Kalu and family hold $20 million of US property, report says
A new report says 61 Nigerian officials hold 284 US properties worth $271 million, including more than $20 million linked to Orji Uzor Kalu.
African Wealth Briefing — Fri., Sept. 25, 2026
Nigeria earned $750 million from petrol exports in the first half of the year, a sixfold rise analysts credit to Dangote's refinery. And Mark Shuttleworth's foundation promised the people of Príncipe up to $3.20 a day to protect their forest.
The Inside Story: Twelve Years on Robben Island, Then a Gold Empire — How Mzi Khumalo Turned $15.5 Million Into Zimbabwe's Largest Gold Producer, and Then Lost It
In 2002 Mzi Khumalo paid $15.5 million for the Zimbabwean gold mines Lonmin no longer wanted. Within a decade they produced about 100,000 ounces a year and Metallon was the country's largest gold miner. By 2019 the group owed roughly $200 million. The full arc of a contested career.
Deep-Dive Report: The $1.2 Billion Handover — How Chappal Energies Bought Equinor Out of Nigeria, Ran Out of Money, and Ended Up Owned by the Shareholder Who Reported Its Founder
In December 2024 Chappal Energies paid up to $1.2 billion for Equinor's entire Nigerian business. Less than two years later its founder is in custody, a minority shareholder holds 86 per cent after a $100 million rescue, and the lesson for every Nigerian independent is about financing, not ambition.
Wealth Intelligence: The Cost of Being Right — Strive Masiyiwa Escaped a Market That Undervalued Him, and the New One Marked Him Down 31% in Four Months
Strive Masiyiwa left an exchange that priced Econet at $239 million against $779 million of revenue, and listed its towers, power and property at $1 billion instead. Four months later InfraCo had lost a third. What the $309 million says about his holdings, and about being right too early.
South African billionaire Mark Shuttleworth promised islanders $3.20 a day and paid 46 cents
Mark Shuttleworth's foundation offers Príncipe residents up to $290 a quarter to protect nature. One recipient's first payment was about $42.
Aliko Dangote's refinery lifts Nigeria's petrol exports sixfold to $750 million
Nigeria earned $750 million from petrol exports in the first half of 2026, a sixfold rise that analysts credit to Dangote's refinery and the Iran war.
Mark Zuckerberg passes Sergey Brin to become world's fifth richest at $256.8 billion
Four days ago Mark Zuckerberg was sixth, $14.5 billion behind Sergey Brin. He is now fifth. He gained about $3 billion over that stretch. Brin lost roughly $12.7 billion and that, not Meta's rally, is what closed the gap.
Swedish billionaire Stefan Persson's family nears the 90% needed to take H&M private
The Persson family bought 36.8 million H&M shares this year, lifting its stake above 68% from 49.5% in 2021 and fuelling take-private talk.
Canadian billionaire Eric Sprott faces a Delaware suit over a $1.2 billion silver windfall
A Hycroft shareholder says the board hid a silver discovery while handing Eric Sprott a 42% stake that rose from $112 million to $1.28 billion.
South African tycoon Mzi Khumalo turned $15.5 million into Zimbabwe's largest gold miner
Mzi Khumalo bought Lonmin's Zimbabwean gold mines for $15.5 million in 2002 and built Metallon into the country's biggest gold producer.
Elon Musk's Tesla starts delivering the Semi truck nine years after he unveiled it
Tesla has begun delivering its Semi electric truck to first customers this week, nine years after Elon Musk unveiled it and days after a record 2,500-truck order.