Richemont rally boosts South Africa’s richest man by $4.6 billion
Johann Rupert gains $4.6 billion this year as Richemont’s rally lifts his net worth to $18.3 billion, the highest gain among African billionaires.
Latest
Nigerian billionaire Adebayo Ogunlesi-linked OpenAI prepares IPO that could top $1 trillion
OpenAI, backed by Nigerian billionaire Adebayo Ogunlesi, prepares a $1 trillion IPO to fund AI expansion and acquisitions.
South African billionaire Jannie Mouton’s Capitec stake tops $1.3 billion
Jannie Mouton’s stake in Capitec Bank has surged past $1.3 billion following a sharp rally in the bank’s shares, reflecting renewed investor confidence in the JSE.
American-Nigerian mogul Sam Darwish’s IHS slashes diesel consumption by 50 million liters
Sam Darwish’s IHS Nigeria saves 50 million liters of diesel with $750 million investment in hybrid and solar systems.
Moroccan tycoon Alami Lazraq’s stake in real estate company nears $800 million
Alami Lazraq’s stake in ADI nears $800 million as shares surge 23%, lifting investor confidence in Morocco’s booming real estate market.
FirstRand to buy $279 million stake in Nigerian-Lebanese tycoon Bassim Haidar’s Optasia
FirstRand to acquire a $279 million stake in Bassim Haidar’s fintech Optasia ahead of its Johannesburg IPO.
Black executive Calvin Butler pockets $14.7 million salary from Exelon in 2024
Exelon CEO Calvin Butler earned $14.7 million in 2024, a 19.5% rise from the prior year, as he steered the U.S. utility giant’s continued growth.
South African businessman Donovan Chimhandamba lands $75 million AfDB funding for titanium firm
South African businessman Donovan Chimhandamba’s Nyanza Light Metals secures $75 million from AfDB to scale titanium processing and boost Africa’s industrial growth.
Nigerian billionaire Abdul Samad Rabiu’s BUA Cement posts $200 million nine-month profit
Abdul Samad Rabiu’s BUA Cement reports a $200 million profit in nine months, driven by higher sales, strong demand, and efficient cost control.
Nigerian businessman Ernest Azudialu faces $1 billion debt fight as banks seize Nestoil
A Lagos court has placed Nestoil under receivership in a debt dispute exceeding $1bn, thrusting founder Ernest Azudialu-Obiejesi into the spotlight as banks move to seize assets and police seal the firm’s Victoria Island headquarters.
The CAF Returns to Profit Under Patrice Motsepe’s Leadership
Under Patrice Motsepe, CAF posted a $9.48m profit, boosting prize money as African billionaires deepen their investment in football.
Madinet Masr, led by Egyptian tycoon Abdallah Sallam, targets $422 million sales from Park Tree Elm
Madinet Masr, led by Abdallah Sallam, unveils Park Tree Elm targeting $422 million sales and boosting Egypt’s housing market.
One of Kenya’s richest men, Jimi Wanjigi, urges end to boarding schools
Businessman and political figure Jimi Wanjigi says Kenya should phase out boarding schools, citing “traumatic” experiences for students and arguing the system must evolve. He backs a day-school approach aligned with ongoing education reforms.
Africa’s richest man Aliko Dangote seeks $5 billion to expand Lagos refinery
Dangote seeks $5 billion to expand Lagos refinery, aiming to double output and boost Nigeria’s energy independence.
Since 2021, billionaire Patrice Motsepe has bankrolled six SA parties to the tune of $3.5 million
South African billionaire Patrice Motsepe has disclosed R62.5m in donations to six parties since 2021, with the ANC taking the biggest share, filings show.
The Secret Billionaire Powering $5 Trillion in Global Trades Every Month
From coder to market mover, Exness CEO Petr Valov built an algorithm-driven brokerage that scaled from a niche idea to a global platform, emphasizing ethics, speed, and access for everyday traders.