Nigerian billionaire Femi Otedola will invest $100 million in Dangote Refinery
Nigerian billionaire Femi Otedola announced a $100 million investment in the Dangote refinery during a high-profile executive visit to the Lagos facility on Wednesday.
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African Wealth Briefing — Wed., May 20, 2026
James Mwangi eyes Equity Group bank acquisitions along the Lobito Corridor; Japan's Asahi clears regulators for the $2.3 billion EABL takeover with mandatory minority offer exemption; Wale Tinubu and Edha Nahdi call for Africa to fund its own future.
Africa's richest man hosts billionaire Femi Otedola and First HoldCo executives at his Lekki refinery
Aliko Dangote hosted Femi Otedola and First HoldCo executives at the Dangote Petroleum Refinery in Lekki on Wednesday, with both sides framing the visit as a signal of African industrial alignment.
Africa's richest man plans to double his refinery and invest $45 billion more as he targets a $200 billion group valuation
Aliko Dangote told the CEO of Norway's sovereign wealth fund he plans to invest $45 billion more and double his refinery capacity to 1.4 million barrels per day within 30 months.
Mohamed Laid Benamor inherited his father's tomato cannery in 1984 and turned it into Algeria's biggest food empire
Mohamed Laid Benamor inherited a tomato cannery in northeastern Algeria. Two decades later, his group generates over $250 million a year and feeds a nation.
Egypt seized his father's business. Youssef Mansour built it back into a $1.4 billion empire
Youssef Mansour rebuilt his family's seized cotton business into a $1.4 billion empire spanning Caterpillar equipment, Metro supermarkets and GM dealerships across Africa.
Air Peace's Allen Onyema says Nigerian airlines are bleeding $15 million a year to bird strikes
Allen Onyema says Nigerian airlines lose at least N20 billion annually to bird strikes, with Air Peace recording 49 incidents in just nine months last year.
Floyd Mayweather earned over $1 billion as a boxer. A $340 million lawsuit and IRS liens are now shadowing that empire
Floyd Mayweather earned more than $1 billion in boxing. In 2026, IRS liens, a $340 million lawsuit and asset sales are raising serious questions about what remains.
Morocco's Al Mada Ventures leads $8 million Checker round to scale stablecoin infrastructure across Africa
Morocco's Al Mada Ventures has led an $8 million round in Checker to scale stablecoin liquidity infrastructure for African banks and neobanks.
Aliko Dangote activates Olokola Deep Sea Port plan as Vision 2030 push accelerates across Ogun and Ondo
Aliko Dangote's group has begun work on the Olokola Deep Sea Port, a 10,000-hectare export hub across Ogun and Ondo states under Vision 2030.
Qatar's billionaire Al-Khayyat family is bidding to build Africa's largest airport in Ethiopia
Qatar's Al-Khayyat family, through Power International Holding, is bidding to build Ethiopia's planned $12.5 billion Bishoftu airport and a 400-kilometre highway in the DRC.
How Nigerian businessman Arthur Eze's Atlas Oranto lost oil licenses across 4 African countries
Nigerian tycoon Arthur Eze's Atlas Oranto has lost oil blocks in 4 African countries as governments crack down on dormant licenses.
How Malawi billionaire Thom Mpinganjira went from a 9-year sentence for corruption to a presidential pardon
FDH Bank founder Thom Mpinganjira was convicted and jailed for attempting to bribe judges in Malawi's disputed 2019 election, then pardoned by President Chakwera four years later.
Moroccan billionaire Said Alj's Sanam Holding is pivoting from seafood into food processing and beauty ingredients
Morocco's Sanam Holding, chaired by Said Alj, is reshaping its investment portfolio around food processing and beauty ingredients as it moves beyond its seafood roots.
Billionaire TY Danjuma donates $2.2 million at former President Yakubu Gowon's autobiography launch
Retired General TY Danjuma donated N3 billion at the Abuja launch of Yakubu Gowon's autobiography, with Aliko Dangote adding N500 million and AbdulSamad Rabiu purchasing N25 million in copies.
Kevin Hart's Hartbeat is suing two former podcast employees over trade secrets
Kevin Hart's Hartbeat sued two former podcast executives for alleged trade secret theft, but a judge rejected part of the injunction request, calling the claims too vague.