Markus Jooste’s former coastal estate expected to top $5.8 million
A Hermanus coastal estate once owned by Markus Jooste is drawing top bids, expected to exceed $5.8 million.
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Dangote to expand refinery to 1.4 million barrels a day, eyes $55 billion in annual revenue
Aliko Dangote plans to double the capacity of his Lagos refinery to 1.4 million barrels a day, aiming to make it a global refining leader. The billionaire also reaffirmed plans to list shares on the NGX and promised steady fuel supply during the festive season.
Aradel, led by Adegbite Falade, eyes majority stake in ND Western in expansion push
Aradel Holdings boosts its ND Western stake to 81.67%, strengthening its control in Nigeria’s oil and gas sector.
Nigerian tycoons Ladi Jadesimi and Adegbite Falade gain $25.7 million as Aradel stock rallies 25 percent
A one-week surge in Aradel’s share price added $25.7 million to the fortunes of founder Ladi Jadesimi and CEO Adegbite Falade. Rising output, fresh deals and a steadier oil market helped drive the rally.
Nigeria commits $1 billion to Lagos port upgrade after Gilbert Chagoury's firm win
Nigeria approves $1 billion to modernize Lagos seaports after Gilbert Chagoury’s ITB Nigeria wins upgrade contract.
Madagascar business magnate Mamy Ravamatoga arrested in Mauritius
Mauritius detains Madagascar business magnate Mamy Ravatomanga over suspected money laundering and Boeing jet transfer to Iran.
Zimbabwean billionaire Strive Masiyiwa’s Cassava wins NVIDIA’s investment
Cassava Technologies, backed by billionaire Strive Masiyiwa, secures investment from NVIDIA to boost Africa’s digital and AI growth.
South African tycoon Barry Swartzberg’s Discovery stake rebounds above $330 million
South African businessman Barry Swartzberg’s stake in Discovery rebounds above $330 million as the insurer’s shares surge by 5.27 percent.
Rihanna’s $34.8 million fashion loss highlights the high cost of luxury bets
Rihanna lost $34.8 million from her Fenty fashion line with LVMH, which also lost $34.9 million before shutting down the label.
Bloomberg pegs Dangote’s net worth at over $30 billion; Forbes says not yet
Bloomberg values Aliko Dangote at $30.5 billion, while Forbes says he remains $3.9 billion short of reaching the $30 billion milestone.
Sanlam, backed by Motsepe, expands private market investments in South Africa
Sanlam, backed by billionaire Patrice Motsepe, boosts private market investments to strengthen returns in South Africa.
Gabonese oil tycoon Samuel Dossou-Aworet set for big payout from ND Western
Gabonese oil magnate Samuel Dossou-Aworet eyes a major payout as Petrolin plans to sell its 40 percent ND Western stake to Aradel Energy.
South African tycoon Christopher Seabrooke gains $8.5 million from Sabvest stake
South African tycoon Christopher Seabrooke’s stake surges by $8 million as Sabvest Capital shares rally on the JSE, lifting his stake above $100 million.
Indian billionaire Sunil Bharti Mittal’s Airtel Africa eyes AI, data centers to drive growth
Sunil Bharti Mittal’s Airtel Africa targets partnerships, AI, and data centers to strengthen the continent’s digital economy.
Nigerian tycoon Rasheed Sarumi-led Presco sees profit doubles as revenue surge to $187 million
Rasheed Sarumi-led Presco sees profit surge to N110.79 billion and revenue climb to N274.5 billion on higher palm oil prices.
CRDB Bank, led by Abdulmajid Nsekela, secures $120 million to support East Africa’s entrepreneurs
Led by Abdulmajid Nsekela, CRDB Bank raises $120 million from FinDev Canada, DEG, and Shelter Afrique to boost women, youth, and small businesses.