African Wealth Briefing — Wed., June 17, 2026
Johann Rupert crosses $20 billion on the Bloomberg index, the second African to do so. Hassanein Hiridjee's AXIAN Energy raises $60 million to green Africa's power.
Latest
Ghana's president faced questions in Britain about his billionaire brother Ibrahim Mahama's growing mining empire
A controversy over Ibrahim Mahama's expanding mining interests followed his brother President John Mahama to London where he met King Charles and Prime Minister Keir Starmer.
Morocco's billionaire prime minister is fighting bills to cap fuel prices in his own industry
Morocco's billionaire Prime Minister Aziz Akhannouch is opposing opposition bills to cap fuel prices and nationalise the Samir refinery in a market he controls through Afriquia.
Hassan Allam commits $400 million to Egypt data centre project
Hassan Allam Digital Infrastructure has signed a $400 million deal with Egypt's telecoms regulator to build a data centre complex serving government, financial and cloud computing clients.
Wealthy Nigerian senator Abdulaziz Yari denies any link to seized gold, threatens legal action against accusers
Senator Abdulaziz Yari has denied any connection to N4 billion in gold bars seized at Kano airport and threatened legal action against those making the allegations.
Nigerian billionaire Mike Adenuga's Conoil proposes N2 dividend per share after profits fell 75% in 2025
Mike Adenuga's Conoil Plc has proposed a N2 per share dividend for 2025, down 43% from N3.50 in 2024, after profits fell 75% year-on-year.
Elon Musk's SpaceX just bought AI coding startup Cursor for $60 billion and its stock hit $211 a share
SpaceX has agreed to acquire AI coding startup Cursor for $60 billion in an all-stock deal days after completing the largest IPO in stock market history.
Angolan oil tycoon Alberto Almeida de Sousa is searching for a deepwater partner to seal his Chevron block deal
Alberto Almeida de Sousa's Etu Energias is seeking a deepwater operating partner to satisfy technical requirements after pre-empting Chevron's $260 million Angola block sale to Energean.
Madagascar billionaire Hassanein Hiridjee's AXIAN Energy raises $60 million to expand renewable power across Africa
Hassanein Hiridjee's Axian Energy has secured a $60 million financing facility with Mauritius Commercial Bank to fund renewable energy expansion across six African countries.
Nigerian-American venture capitalist Adeyemi Ajao's Base10 raises $850 million, assets reach $2.6 billion
Adeyemi Ajao's Base10 Partners has closed $850 million in new capital bringing total assets under management to $2.6 billion on an Applied AI thesis.
Saudi-Ethiopian billionaire Mohammed Al Amoudi's MIDROC secures $80 million for Sheraton Addis upgrade
Mohammed Al-Amoudi's MIDROC Ethiopia has signed an $80 million IFC loan to refurbish the Sheraton Addis and build a second Sheraton hotel in Addis Ababa.
Rihanna could soon share Fenty Beauty with Jay-Z as his firm moves to buy out LVMH's $1 billion stake
Jay-Z's MarcyPen Capital Partners is actively pursuing LVMH's 50% stake in Rihanna's Fenty Beauty in a deal that could value the brand at up to $2 billion.
Controversial Zimbabwean tycoon Wicknell Chivayo wins a stake in Kenya's $2.9 billion airport expansion deal
Wicknell Chivayo's IMC Construction Kenya has won a stake in the Sh375 billion ($2.9 billion) JKIA expansion deal alongside Chinese state-owned construction giant CCCC.
Johann Rupert becomes 2nd African to hit $20 billion according to the Bloomberg Billionaires Index
South African luxury tycoon Johann Rupert has crossed the $20 billion milestone, cementing his position over Nigerian billionaire Abdul Samad Rabiu on the global wealth index.
Elon Musk's net worth hits $1.4 trillion and the $2 trillion mark is now in sight
Elon Musk's net worth has hit $1.4 trillion on the Forbes real-time tracker as SpaceX shares continue rising after the largest IPO in history.
Ripple takes equity stake in Flutterwave at $3.3 billion valuation
Ripple has taken an equity stake in Flutterwave as part of a Series E funding round that values the African payments company at $3.3 billion.