South Africa's Absa Group launches $238.6 million bid to raise its stake in Absa Bank Kenya to 85 percent
South Africa's Absa Group has launched a $238.6 million tender offer to raise its stake in Absa Bank Kenya from 68.5 percent to 85 percent.
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Kenyan-Mexican star Lupita Nyong'o built a $10 million fortune from one Oscar
Lupita Nyong'o won an Academy Award in her first major film and parlayed it into a beauty, book and blockbuster empire worth millions.
Deshaun Watson is worth $230 million and has played in just 19 NFL games
Deshaun Watson signed the largest guaranteed contract in NFL history at $230 million, played 19 games across four years, and left the Cleveland Browns with a debt they cannot escape.
Shonda Rhimes earned $350 million from television and ABC never once paid her fairly
Shonda Rhimes generated $2 billion for ABC, signed a $300 million Netflix deal and built a $240 million fortune. She had to fight ABC for a fair salary through all of it.
The Inside Story: The Petrol Premier
Morocco’s billionaire prime minister is fighting bills to cap fuel prices in a market his own company dominates — reviving the oldest question about him.
Deep-Dive Report: Mohammed Dewji — The Turnaround Machine
East Africa’s only billionaire built a roughly $2.1 billion fortune buying what others had given up on — and fixing it. Inside the METL playbook, the man, and the ordeal that tested both.
Wealth Intelligence: Mike Adenuga — The Quiet Colossus
Nigeria’s most private billionaire built a fortune of roughly $6.5 billion on telecoms and oil — and tells almost no one how. A full read of an empire that hides in plain sight.
Billionaire Femi Otedola owns more of FirstHoldCo than fellow bank chairmen Elumelu, Aig-Imoukhede or Ovia ever did
Femi Otedola now owns 20.42 percent of FirstHoldCo, more than any sitting Nigerian banking chairman, and the comparison with Elumelu, Aig-Imoukhede and Ovia tells a compelling story.
A brief history of time: the life of Robert Gumede, the South African billionaire rescuing Tongaat Hulett
Robert Gumede went from caddying golf courses to building South Africa's biggest black-owned IT company. Now he is staking his reputation on rescuing Tongaat Hulett.
Angolan billionaire Agostinho Kapaia announces plans to bring OPAIA Group into Mozambique
Angola's Agostinho Kapaia says OPAIA Group is moving into Mozambique after meeting President Daniel Chapo in Luanda
John W. Rogers Jr. is leaving Nike's board after eight years and will stay on as a strategic advisor
Ariel Investments founder John W. Rogers Jr. will retire from Nike's board at the September 2026 annual meeting after eight years of service.
African Wealth Briefing — Fri., June 19, 2026
Femi Otedola's First HoldCo completes a $32.8 million raise as he tightens his grip. Manu Chandaria plans a center to honor the late Raila Odinga.
Elon Musk's SpaceX shares have dropped 20 percent from their peak and analysts say the stock is worth far less
SpaceX shares have fallen more than 20 percent from their post-IPO high and credible analysts say the stock is still significantly overvalued at current levels.
MTN Nigeria CFO Modupe Kadri spends $760,000 to buy more shares in a vote of confidence in the telecom giant
MTN Nigeria CFO Modupe Kadri has acquired 1.3 million shares worth N1.03 billion in a personal bet on the telecom giant's long-term growth.
Kenya's government denies Wicknell Chivayo has any role in the $2.9 billion airport expansion deal
Kenya's Transport minister has formally denied that Wicknell Chivayo's company had any role in the KSh375 billion JKIA airport expansion contract awarded this month.