Oando shares fell 28% since May even as the company returned to profit
Oando shares have fallen 28% since May despite a ₦44.53 billion quarterly profit, with liabilities still exceeding assets by ₦530 billion.
Latest
South African financier Magda Wierzycka's controlling Sygnia stake is worth $177 million
Magda Wierzycka owns 90,235,124 Sygnia shares worth about $177 million, and told a rich-list compiler that Wendy Appelbaum is South Africa's wealthiest woman.
South Africa's richest woman and her daughters have given $6 million to political parties
Mary Oppenheimer Slack and her three daughters have disclosed more than R100 million in donations to South African political parties since disclosure became law.
Nigerian billionaire Aliko Dangote commits $800 million to double his Itori cement plant
Aliko Dangote has signed an $800 million agreement with China's Sinoma to double capacity at his Itori cement plant in Ogun State to 12 million tonnes.
Tanzanian billionaire Rostam Aziz's $130 million terminal threatens Kenya's LPG monopoly
Rostam Aziz's Taifa Gas is finishing a $130 million Mombasa terminal set to break a cooking gas market where two importers control 98% of supply.
Nigerian billionaire Muhammadu Indimi joins court fight against his twin daughters over $43.5 million
Muhammadu Indimi has applied to be joined personally in the appeal against a $43.51 million judgment his twin daughters won from Oriental Energy.
Nigerian billionaire Rasheed Sarumi's Presco commits $200 million to Ondo oil palm project
Presco will invest an initial $200 million in Ondo State to build oil palm plantations, a processing mill and a refinery, its chief executive said.
Zimbabwean tycoon Simon Rudland opens $25 million citrus plant at the South African border
Simon Rudland has commissioned a $25 million citrus processing plant at Beitbridge that will supply juice to Schweppes Zimbabwe and export markets.
Kenyan multimillionaires Robert Kirubi and Mary-Ann Musangi to pocket $1.25 million in Centum dividend
Robert Kirubi and Mary-Ann Musangi will take about $1.25 million from Centum's record dividend through the 31% stake inherited from their father.
Botswana tycoon Ramachandran Ottapathu's Engen takeover faces public competition hearing
Botswana's competition regulator has opened Ramachandran Ottapathu's bid for 70% of Engen Botswana to public submissions before reaching a decision.
Kenyan media mogul SK Macharia held in contempt of court in Directline dispute
Kenya's High Court has held media mogul SK Macharia in contempt for breaching orders in the long-running Directline Assurance ownership dispute.
African Wealth Briefing — Sat., Aug. 1, 2026
Angola turned an asset it seized from Isabel dos Santos into the largest IPO in its history. And Patrice Motsepe's near-billion-dollar platinum bet drew a rare vote of doubt, as the market marked his miner down 21% while its rivals rose.
The Inside Story: Paul Obambi — The Long Line to the Sea
Paul Obambi bought the iron-ore project a South African major had given up on, then spent a decade chasing the one thing that would make it worth anything: a 450-kilometre railway to the ocean.
Deep-Dive Report: Patrice Motsepe's ARM — Against the Cycle
Patrice Motsepe's African Rainbow Minerals is spending about $925 million to reopen a platinum mine it shut two years ago — a bet that the whole sector's retreat went too far. Inside a contrarian wager, and why the timing, not the thesis, is what's on trial.
Wealth Intelligence: Angola — Selling What It Seized
Angola raised $321 million floating 15% of Unitel — the mobile operator it took from Isabel dos Santos four years ago. The largest IPO in the nation's history is really a test of a much bigger question.
Tanzanian tycoon Ghalib Said Mohamed puts $5.7 million into Yanga's transfer spending
Ghalib Said Mohamed's GSM Group has allocated TSh15 billion, about $5.7 million, purely for player recruitment at Tanzanian champions Young Africans.