Nigerian oil trader Abdulrahman Bashar hit with worldwide asset freeze in $40 million default
A London court has frozen the worldwide assets of Nigerian oil trader Abdulrahman Musa Bashar after a $40 million judgment to Petrichor Energy went unpaid.
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Zenith Bank's founder Jim Ovia has retired as chairman after 36 years of building Nigeria's most profitable lender
Jim Ovia has retired as Zenith Bank chairman after completing the mandatory 12-year tenure under CBN governance guidelines, with Mustafa Bello approved to take over the chairmanship.
Nigerian oil tycoon Muhammadu Indimi receives honorary business doctorate from Delta State University
Delta State University has conferred an honorary business doctorate on oil tycoon Muhammadu Indimi, chairman of Oriental Energy Resources, at its 18th convocation in Abraka.
Media mogul Byron Allen closes $171 million deal and lands CBS late-night slot in same week
Byron Allen's Allen Media Group closed a $171 million broadcast station sale to Gray Media and locked in a new YouTube TV carriage deal in a single week.
Billionaire Othman Benjelloun's shipping company AML plans a Morocco-to-Canary Islands ferry route as it grows its fleet to 7 ships and adds France and Algeria crossings
Africa Morocco Link, co-owned by Othman Benjelloun's O Capital Group, plans a Morocco to Canary Islands route within 3 years as it expands its 2-ship fleet to 7 vessels.
King Mohammed VI gives Crown Prince Moulay Hassan his first real military job in a move that mirrors the king's own path to the throne 40 years ago
King Mohammed VI has appointed Crown Prince Moulay El Hassan as coordinator of Morocco's military general staff, giving the 22-year-old his first substantive role in the Royal Armed Forces.
African Wealth Briefing — Tues., May 5, 2026
The Sentry's leaked-records investigation into Tagwirei's Sakunda partially supports Chiwenga's claim that Zanu PF held a hidden 45 percent stake, James Mwangi's Equity Bank sweeps Kenya's banking awards, and Talaat Moustafa warns Egypt's new property fees could push costs up 15 percent.
Billionaire Rostam Aziz calls on Kenya and Tanzania to build a single commercial system to compete for global capital
Tanzanian billionaire Rostam Aziz urged Kenya and Tanzania to move beyond trade to a single commercial system to draw the capital both economies need.
Billionaire Robert F. Smith says Agentic AI Is creating a massive profitability unlock inside his $100 billion portfolio
Vista Equity CEO Robert F. Smith told CNBC that 30 of his portfolio companies are already generating revenue from agentic AI, with more converting soon.
Egyptian tycoon Hassan Allam meets Syria's President al-Sharaa in Damascus to discuss infrastructure and real estate investment
Egyptian construction billionaire Hassan Allam met Syrian President al-Sharaa in Damascus to explore real estate and infrastructure investment in post-war Syria.
Billionaire Mohammed Al-Amoudi's MIDROC signs deal to build 10 Marriott hotels across Ethiopia
Mohammed Al-Amoudi's MIDROC Investment Group has signed a deal to develop 10 Marriott-branded hotels across Ethiopia with 1,140 keys opening by 2031.
Nigerian tycoon Tunde Ayeni remanded at Kuje Prison as EFCC files 17-count $11.3 million fraud charge
Former Skye Bank chairman Tunde Ayeni was remanded at Kuje Prison on Monday after the EFCC arraigned him on a 17-count N15.6 billion fraud charge.
Zimbabwean billionaire Strive Masiyiwa's Cassava plans 20MW Joburg AI factory as Cape Town goes live
Strive Masiyiwa's Cassava Technologies is planning a 20MW AI factory in Johannesburg with 12,000 to 13,000 GPUs targeted across Africa as its Cape Town facility prepares to go live.
Billionaire Femi Otedola says he did not invest a single kobo in Dangote's refinery and calls the viral claim that he contributed $300 million "calculated mischief"
Femi Otedola has flatly denied investing in the Dangote Petroleum Refinery, calling a viral claim that he contributed $300 million "completely and utterly false" and "calculated mischief."
James Makamba's Telecel Zimbabwe stake is every buyer's biggest headache
Buying Telecel Zimbabwe means inheriting a tangle of ownership claims, including James Makamba's Kestrel Corporation stake and other unresolved competing interests.
Idrissa Nassa's Coris Bank Posts 22% First-Quarter Profit Jump in West Africa Banking Expansion
Coris Bank, founded by Idrissa Nassa, posted a 22% rise in first-quarter profit in 2026, continuing its strong run across West Africa.