Johann Rupert's Richemont defies tariffs and record gold prices to post double-digit growth
Johann Rupert's Richemont grew annual sales 11% to €22.4 billion ($24.2 billion) and lifted profit 27%, shrugging off US tariffs and record gold prices.
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Executive Insight: Othman Benjelloun and the Moroccan Banking Complex
Othman Benjelloun has surfaced in Billionaires.Africa coverage five times in two weeks. A 93-year-old engineer from Fez built one of Africa's most geographically distributed banking networks. What the May visibility represents.
African Wealth Briefing — Mon., May 25, 2026
Aliko Dangote's refinery exports gain momentum as regional demand surges; James Mwangi accelerates Equity Group's expansion into Central Africa; Strive Masiyiwa invests in African satellite and connectivity infrastructure.
S&P upgrades Nigeria's credit rating and names Dangote Refinery as a key reason why
S&P upgraded Nigeria's sovereign credit rating to B from B-, specifically naming the Dangote Refinery's ramp-up to near full capacity as a key driver of the country's improving economic outlook.
South African tycoon Tokyo Sexwale says the ANC presidency is dangerous and he does not want the job
South African mining billionaire Tokyo Sexwale says running for ANC president is dangerous and he does not want the role, backing Paul Mashatile to succeed Cyril Ramaphosa instead.
African Wealth Briefing — Sun., May 24, 2026
Aliko Dangote says Africa's next industrial revolution must be powered by local capital; James Mwangi targets Francophone Africa in Equity Group's next expansion phase; Strive Masiyiwa backs major African data-center expansion.
Tanzania eyes takeover of billionaire Mohammed Dewji's idle Mbeya tea estates
Tanzania's government told parliament it is negotiating a takeover of over 2,000 idle hectares of Mo Dewji's MeTL tea estates in Mbeya to restart production and protect farmers.
SpaceX IPO will make Elon Musk a trillionaire and mint at least four new billionaires from his inner circle
SpaceX filed for a $2 trillion IPO that will make Elon Musk the world's first trillionaire and turn at least four of his close allies into billionaires.
Moroccan billionaire Moulay Hafid Elalamy acquires majority stake in Sweden's Arktika Capital, a debt portfolio specialist
Moroccan billionaire Moulay Hafid Elalamy has acquired a majority stake in Arktika Capital AB, a Swedish licensed credit institution that buys and manages non-performing loan portfolios across Europe.
Kenyan billionaire Joshua Kulei surfaces as beneficiary in $3.5 billion government contracts
Company records show Joshua Kulei is a beneficial owner of Liaison Capital, the firm behind Kenya's Sh42 billion Talanta Sports City and Sh415 billion military housing programme.
African Wealth Briefing — Sat., May 23, 2026
Aliko Dangote's $20 billion refinery nears full capacity as fuel exports begin; Peter Munga increases his financial services stake as banking competition intensifies; Strive Masiyiwa backs new African AI and digital infrastructure fund.
Ugandan tycoon and MTN's largest individual shareholder Charles Mbire says the telecom giant is open to partnering with Starlink
MTN Uganda chairman Charles Mbire said the company is open to a Starlink partnership after Uganda formally licensed the satellite internet provider on May 15.
Moroccan billionaire Anas Sefrioui discusses $46 million CIMAF cement expansion plan with Gabon's president
Anas Sefrioui's CIMAF presented a CFA26 billion expansion plan to Gabon's president on May 20, targeting a third cement line and expanded clinker production at the Owendo factory.
Billionaire Abdul Samad Rabiu says BUA Cement prices will fall as naira stability eases costs
BUA Cement chairman Abdul Samad Rabiu told shareholders cement prices will fall as naira stability eases costs, after the company posted a record 2025 profit.
Elon Musk lost his $134 billion case against OpenAI in under two hours. He says he is going to appeal
A California jury dismissed Elon Musk's $134 billion lawsuit against OpenAI and Sam Altman in under two hours on May 18, finding his claims barred by the statute of limitations, clearing the way for OpenAI's planned IPO.
Sue Nabi studied water engineering in Algeria and ended up running a $6 billion global beauty empire
Sue Nabi studied water engineering in Algeria, joined L'Oréal as a sales rep and spent three decades building one of global beauty's most remarkable careers