Inside Africa’s billionaire foundations reshaping health and education
Across Africa, billionaire-backed foundations are funding schools, clinics and jobs, reshaping philanthropy into structured platforms that transform lives.
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Bitumen World, backed by Zimbabwe's Rudland family, cuts jobs as cash flow tightens
Bitumen World, backed by Zimbabwe’s Rudlands, cuts jobs as delayed government payments and cash flow pressures strain the construction firm’s operations.
Kenyan tycoon TK Muya’s Family Bank plans $48 million capital raise
Family Bank targets $48 million private placement to fund regional expansion and strengthen capital after strong H1 profits.
South African tycoon Giovanni Ravazzotti to receive $41-million from Italtile dividend
Giovanni Ravazzotti to receive $41.65 million from Italtile’s $73.71 million special dividend for 2025.
Bill Gates’ anti-malaria program halted in Burkina Faso
Burkina Faso suspends Gates Foundation anti-malaria project, raising debate over genetically modified mosquitoes.
Michael Jordan nears $4 billion net worth
Michael Jordan nears $4 billion fortune as his wealth hits $3.8 billion, ranking among the world’s richest Black billionaires.
Egyptian billionaire Sadek El-Sewedy loses nearly $60 million from Elsewedy stake
Egyptian billionaire Sadek El-Sewedy’s stake in Elsewedy Electric drops by $58.6 million as shares decline.
South African billionaire Jannie Mouton’s Capitec stake tops $1.2 billion
Jannie Mouton’s Capitec stake tops $1.2 billion as an 18-day share rally adds $67.58 million in value, cementing his position among South Africa’s financial elite.
Wema Bank, partly owned by gambling magnate Adebutu, raises $103 million in rights issue
Wema Bank, partly owned by Nigerian gambling magnate Kessington Adebutu, tops target with $103.1 million rights issue, boosting capital strength and growth outlook.
Dangote refinery signs deal with Japanese firm for petrochemical production in Nigeria
Dangote’s $20 billion refinery partners with Japan’s Mitsui Chemicals to boost petrochemical output, targeting Africa’s $15 billion import market.
Stella Okoli’s $23 million plant to boost pharma self-sufficiency in Nigeria
Emzor is investing $23 million in Nigeria’s first API plant to cut drug imports, lower costs, and boost medicine security.
Nigerian beverage billionaire Adebola Adegunwa takes on Coca-Cola and plastic waste
Nigerian billionaire Adebola Adegunwa, owner of Rite Foods, challenges Coca-Cola while tackling plastic waste with bold clean-up campaigns and sustainability projects.
5 Nigerian women who own oil blocks
In Nigeria’s upstream oil, long dominated by men, five women now own blocks in exploration, discovery, and production.
He sold Telecel for $200M, owned Hotel Rwanda and a wine estate: Miko Rwayitare’s empire
Miko Rwayitare built Africa’s first mobile network, sold it for $200M, owned Hotel Rwanda and a Cape wine estate. His legacy endures.
Michael Jordan, Kobe Bryant card sells for nearly $13 million
A rare Michael Jordan and Kobe Bryant card sells for nearly $13 million, breaking records in sports collectibles.
Nigerian oil mogul Muazzam Mairawani plans $225 million U.S. IPO after $15 billion oil find
Nigerian tycoon Muazzam Mairawani’s MSM Group plans a $225 million U.S. IPO after discovering $15 billion in oil reserves to expand Nigeria energy ventures.