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African Wealth Briefing — Fri., May 29, 2026
The Rupert family is set for a record $277 million Richemont dividend. Burkina Faso's Inoussa Kanazoe seizes gold mines as foreign firms exit under Traore. Plus: Cassava backs Kigali AI.
How African billionaires Benedict Peters and Aliko Dangote became the biggest winners of the Hormuz crisis
Satellite images show Nigeria's Dangote refinery and Benedict Peters' Aiteo operation are the biggest beneficiaries of the Hormuz crisis, even as an oil theft mafia costs the country billions annually.
FirstHoldCo shareholders vote today on billionaire Femi Otedola's $725 million capital plan for First Bank
FirstHoldCo shareholders gather today for their 14th AGM to vote on raising N253 billion ($183.4 million) in fresh capital toward a N1 trillion ($724.6 million) paid-up base championed by Femi Otedola.
Ghana sets new terms for Gold Fields' $1 billion Tarkwa mine lease renewal as resource nationalism deepens
Ghana's Minerals Commission confirmed active talks with Gold Fields over the Tarkwa mine lease renewal, setting new conditions covering local value creation, technology transfer and community development.
South Africa's Human Rights Commission opens hate speech probe into Dis-Chem heir Mark Saltzman
South Africa's Human Rights Commission opened a hate speech investigation into Dis-Chem shareholder Mark Saltzman over posts on X containing the k-word and other racially inflammatory language.
How South Africa's private banks handed wealthy clients rope to hang themselves with Steinhoff margin loans
Private banks across South Africa offered margin loans against Steinhoff shares that triggered catastrophic calls when the stock collapsed 98% in December 2017, wiping out entire high-net-worth client portfolios.
South Africa's wealthy Rupert family is set to collect a record $277 million from Richemont's biggest ever dividend
The Rupert family stands to collect approximately $277 million from Richemont's proposed record CHF 4.30 per share dividend, the largest in the luxury group's history, pending September 2026 AGM approval.
Ghana's AG sues business tycoon Joseph Siaw Agyepong over $2 million gap in a $178 million contract
Ghana's AG sued Jospong founder Siaw Agyepong and his firm Plantpool over $2 million in alleged overpayments on a $178 million road contract.
Billionaire Strive Masiyiwa's Cassava Technologies backs new African AI foundation
Strive Masiyiwa's Cassava Technologies has backed a new Kigali foundation to provide compute grants and skills training for African AI builders.
Kevin Hart's VitaHustle raises fresh capital from Black-owned private equity firm Axum Capital
Charlotte-based private equity firm Axum Capital Partners has made a growth equity investment in VitaHustle, the plant-based nutrition brand co-founded by Kevin Hart and his trainer Ron Everline.
Cameroon's richest man says South Africa's FNB liquidated R4 billion in his assets to recover R520 million
Cameroon's richest man Baba Ahmadou Danpullo says FNB seized and liquidated R4 billion in his South African assets to recover a R520 million loan, costing 800 workers their jobs.
Elon Musk was paid $132.3 billion in 2025. The typical S&P 500 CEO got $17.7 million. The gap is breathtaking
Elon Musk received a $132.3 billion Tesla stock award in 2025, dwarfing the next-largest package by a factor of 160, as average S&P 500 CEO compensation rose 6% to $17.7 million while median worker pay reached $89,744.
Kaushik Burman's Spiro buys UK engineering firm Coexlion to anchor its first African R&D hub in Nairobi
Kaushik Burman's Spiro, Africa's largest electric-motorcycle company, has acquired UK engineering firm Coexlion and will open its first African R&D center in Nairobi.
Egyptian dairy tycoon Safwan Thabet at war with Qatari shareholder Baladna over Juhayna stake
Egypt's Juhayna Food Industries has locked out Baladna, its Qatari second-largest shareholder with over 15% of the company, in a fresh ownership dispute at the country's biggest dairy producer.
Burkina Faso billionaire Inoussa Kanazoe acquires key gold mines as foreign firms are pushed out under Traore
Inoussa Kanazoe's Soleil Resources International acquired the BMC and Roxgold gold mines as Burkina Faso's President Ibrahim Traore accelerates the push to replace foreign miners with domestic owners.