Africa's richest man picks Lamu for $17 billion Kenya refinery as engineering work begins
Aliko Dangote has selected Lamu for a $17 billion, 700,000-barrel-a-day refinery, with soil tests and engineering work already under way.
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Zimbabwean tycoon Wicknell Chivayo's private-jet celebration of Mnangagwa's 2030 term draws mixed reaction
A video of Zimbabwean businessman Wicknell Chivayo celebrating Mnangagwa's term extension aboard a private jet has sparked a lively online debate.
Michael Jordan extends Upper Deck deal as the card maker's first Legacy Partner
Michael Jordan has extended his 35-year Upper Deck partnership, becoming the card maker's first Legacy Partner in a deal of undisclosed value.
Indian billionaire Ravi Jaipuria's Varun Beverages enters Kenya with $32 million dairy deal
Ravi Jaipuria's Varun Beverages is entering Kenya with a $32 million deal for the dairy, juice and water business of a family-owned company.
Billionaire John Arnold funds $2.6 million study into the health risks of sports betting
Billionaire John Arnold's foundation has awarded $2.6 million to 12 universities and think tanks studying how online sports betting harms users.
Billionaire Nassef Sawiris' Aston Villa puts nearly its entire academy up for sale over spending rules
Nassef Sawiris and Wes Edens have made almost all of Aston Villa's academy players available for sale to comply with new spending rules.
Kiwi billionaire Stephen Jennings faces new Mauritius fight over Kenya's Tatu City
Kenyan investors want Mauritius' top court to let them arbitrate against Stephen Jennings' Rendeavour over dilution of their Tatu City stakes.
Tycoon Julius Rone's UTM FLNG signs 15-year gas deal for Nigeria's first floating LNG plant
Julius Rone's UTM FLNG signed a 15-year deal with NNPC and Seplat for feed gas, clearing a hurdle to Nigeria's first floating LNG.
Haitian-born billionaire Herriot Tabuteau's Axsome begins Phase 3 ADHD trial in children
Axsome Therapeutics, led by Haitian-born billionaire Herriot Tabuteau, has dosed the first child in a Phase 3 trial of solriamfetol for ADHD.
South African billionaire Michiel le Roux borrows $402 million against his Capitec shares
Capitec co-founder Michiel le Roux has raised about $402 million by refinancing a loan secured against 1.37 million shares in his own bank.
Senegalese billionaire Yerim Sow's Bridge Bank opens $118 million share sale on the BRVM
Yerim Sow's Bridge Bank has opened a $118 million offer for 20% of its shares, ahead of a listing on West Africa's BRVM exchange.
Allam family's Hassan Allam wins contract for Montage hotel and villas at Ras El-Hekma
Hassan Allam Construction has won the contract to build a 200-key Montage hotel and 96 branded villas at Egypt's Ras El-Hekma megaproject.
Olugbenga Agboola's Flutterwave takes Circle investment to expand USDC settlement in Africa
Flutterwave secured a strategic investment from Circle Ventures to embed USDC settlement into its payments network across 34 African markets.
African Wealth Briefing — Wed., July 8, 2026
Dangote's refinery overtakes the United States as Europe's top jet fuel supplier. Tony Elumelu will step down as UBA chairman after 12 years.
Nigerian-American billionaire Adebayo Ogunlesi meets Uzbekistan's president to expand BlackRock's investments
Nigerian banker Adebayo Ogunlesi met the president of Uzbekistan to discuss growing BlackRock's energy and finance investments in the country.
Tiger Woods-backed Full Swing sold to Golf Channel owner Versant for $530 million
Full Swing, the golf simulator company Tiger Woods has backed since 2015, is being sold to Golf Channel owner Versant for about $530 million.