African Wealth Briefing — Sun., May 3, 2026
Sandile Zungu and Jason Kluk take over Sumitomo's failed Madagascar nickel mine, Mahama's Damang Mine delivers its first gold to the Bank of Ghana, and Dangote denies an Elumelu rift.
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Dangote Group calls reports of rift with Tony Elumelu false and malicious
The Dangote Group has dismissed reports alleging a rift between Aliko Dangote and Tony Elumelu, threatening legal action against anyone spreading the claims.
South Africa's Mining BEE has created 46 billionaires whose identities the public does not know — Report
South Africa's mining BEE program has created at least 46 billionaires, but their names and accumulated wealth remain hidden from public view.
Billionaire Dr. Dre and Snoop Dogg take their Still G.I.N. brand into Applebee's with two new cocktails
Dr. Dre and Snoop Dogg have partnered with Applebee's to launch two Still G.I.N. cocktails at more than 1,500 locations across the United States.
Nigerian billionaire Dahiru Mangal's son wins APC ticket in Katsina, unseating a two-term sitting rep
Abba Mangal, son of billionaire Dahiru Mangal, has emerged as the APC candidate for Katsina Central, ending a two-term incumbent's return bid.
Stanbic IBTC founder Atedo Peterside says Nigeria could face a crisis if the ADC Is blocked from 2027 elections
Atedo Peterside warned that Nigeria risks a serious legitimacy crisis if the ADC is prevented from contesting the 2027 presidential election.
Rihanna takes Fenty Beauty into India through Ambani family's Reliance Retail
Rihanna has formally launched Fenty Beauty in India through Reliance Retail, staging a cultural pop-up in Mumbai and meeting the Ambani family.
Kenyan businesswoman Mary Wambui sues Google to scrub news articles about her $16.9 million tax fraud case from search results after the charges were dropped in 2023
Kenyan businesswoman Mary Wambui has sued Google in the High Court to remove search results about her Sh2.2 billion ($16.9 million) tax evasion case, which was dropped in January 2023.
Executive Insight: Six Months on the JSE — What the Optasia Insider Sell-Down Reveals About Africa’s First Major Fintech Listing
Optasia debuted on the JSE in November 2025 as Sub-Saharan Africa's first major fintech IPO. Six months later, the operating story has compounded — but the founder is gone, FirstRand owns 26%, and a related-party deal is testing the listing's governance architecture.
The Inside Story: Nigeria’s Palm Oil Duopoly Posts Record Quarter as a Belgian Empire Quietly Becomes Nigerian
Presco's profit jumped 57.4% to N178 billion and Okomu Oil grew Q1 to N34 billion, lifting the combined market cap of Nigeria's protected palm oil duopoly past $2.7 billion — and one of the two has just become Nigerian-controlled after 33 years of Belgian rule.
Palantir CEO Alex Karp builds $75m Miami Beach compound
Palantir CEO Alex Karp has spent nearly $75 million assembling a waterfront compound in Miami Beach, buying a $28.5 million teardown next to the $46 million mansion he already owns on the Venetian Islands.
African Wealth Briefing — Sat., May 2, 2026
Yérim Sow's Bridge Bank moves into Guinea Conakry, Ralph Mupita takes home a record R99 million as MTN credits Nigeria for its strongest year in decades, and Ibrahim Mahama pays the first $2 million of his $5 million Black Stars pledge.
Residents of Jamestown, the old community hemmed in by Stellenbosch's billionaire estates, march against a mayor who didn't show up to collect their petition
Residents of Jamestown, a historic community inside South Africa's wealthiest municipality, marched on May 1 against gentrification and municipal neglect as the mayor failed to show up for their petition.
Discovery founder Adrian Gore joins Business Leadership South Africa board
Discovery founder and CEO Adrian Gore has been appointed to the new Business Leadership South Africa board as the organisation enters a fresh three-year cycle with new members.
Ghanaian billionaire Ibrahim Mahama's Damang Mine delivers its first 110 kilograms of gold directly to Ghana's central bank
Ibrahim Mahama's Damang Gold Mine has sold its first 110 kilograms of output to Ghana's Gold Board for the central bank's reserves, weeks after taking over the mine from Gold Fields.
Nigerian tycoon Wale Babalakin writes off a N132 billion airport debt and hands back MMA1 to the government in a deal that finally ends a 20-year fight over Lagos's private terminal
Wale Babalakin's Bi-Courtney has written off a N132 billion judgment debt and returned MMA1 to the government, ending a 20-year dispute over Lagos's MMA2 private airport terminal.