Nigerian billionaire Aliko Dangote will break ground on his Kenyan refinery on Sept. 30
Construction of the $17 billion East Africa Refinery at Lamu starts Sept. 30, while Dangote Cement has ruled out a Kenyan plant over limestone.
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Nigeria's four billionaires are running the playbook that built industrial America
Dangote, Adenuga, Rabiu and Otedola are running versions of the playbooks Rockefeller, Ford, Carnegie and Morgan used to build America.
Billionaires Alisher Usmanov and Mikhail Fridman are freed from EU sanctions
The EU preliminarily agreed to lift sanctions on Alisher Usmanov and Mikhail Fridman to renew penalties on nearly 3,000 Russians for three years.
Soccer Legend Thierry Henry lists his New York penthouse for $25 million
Thierry Henry went house-hunting in Manhattan in 2010, the summer he left Barcelona for the New York Red Bulls. Sixteen years and one renovation later, the penthouse he settled on is for sale and he has moved into football ownership instead.
Malaysian billionaire Francis Yeoh bets $10.5 billion on gas power for the AI data center rush
Francis Yeoh's YTL Power is developing 5.2 gigawatts of gas-fired plants across four Southeast Asian countries, a buildout analysts value above $10.5 billion, to power AI.
Elon Musk puts $2 trillion SpaceX on the line with Starship's first orbital flight
Elon Musk says Starship will reach orbit for the first time on Sept. 28, carrying 26 Starlink V3 satellites, the first revenue-generating cargo for the rocket.
Workday's Dave Duffield, 85, builds a third $1 billion company
David Duffield took PeopleSoft public, then Workday. At 85 he has done it a third time, with a company he has funded with $400 million of his own money and whose chief executive he meets for breakfast every week.
Aliko Dangote sets 2028 IPO for fertilizer arm he says will be the world's biggest
Aliko Dangote says his fertilizer business will hold an IPO in 2028, once an expansion to 12 million tons a year makes it the world's largest urea producer.
South African mining boss Neal Froneman wants to build a $410 million Formula One circuit
A consortium chaired by former Sibanye-Stillwater CEO Neal Froneman plans a R6.7 billion motorsport complex in the Swartland to host F1 by 2031.
Nigerian billionaires Dangote and Rabiu face a Chinese-owned rival as cement prices double
HBM Nigeria, formerly Lafarge Africa and now owned by China's Huaxin, wants distributors with N250 million each as cement tops N12,500 a bag.
Ethiopian billionaire Mohammed Al-Amoudi's failed refinery cost Morocco $7 billion
Mohammed Al-Amoudi bought Morocco's only refinery for 4 billion dirhams in 1997. It shut in 2015 owing over $4 billion and has never reopened.
Aliko Dangote picks power over steel with a $10 billion bet on Africa's grid
Aliko Dangote says his group will invest more than $10 billion in electricity across Africa within four years, possibly cancelling its steel ambitions to fund it.
Africa's richest man Aliko Dangote will take his fertiliser company public in 2028
Aliko Dangote says Dangote Fertiliser will list in 2028, when he expects capacity to reach 12 million tonnes a year across Nigeria and Ethiopia.
South African billionaire Patrice Motsepe's Harmony Gold launches $500 million bond sale
Harmony Gold is selling $500 million of convertible bonds due 2031 with a coupon of 1.5% to 2%, convertible into about 2.9% of its shares.
South African defence tycoon Ivor Ichikowitz says Africa must build its own weapons
Paramount founder Ivor Ichikowitz says Africa should build its own defence industry, citing a youth survey his own foundation commissioned.
South African billionaire Lazarus Zim lost everything in 2008 and rebuilt it without borrowing
Lazarus Zim's Afripalm Resources collapsed when banks called in his pledged Northam shares. He returned through a structure that could not be margin-called.