Gerrie Fourie banks R155 million farewell after a decade leading Capitec
Former Capitec chief executive Gerrie Fourie banked a R155 million farewell package after a decade leading South Africa's largest bank by client base.
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Egyptian billionaire Sawiris family-linked HOF Capital buys Porsche's Bugatti stake in a deal valuing the brand above $1 billion
HOF Capital, co-founded by Onsi Sawiris of Egypt's billionaire Sawiris dynasty, has led a consortium to buy Porsche's full 45% stake in Bugatti Rimac.
Rihanna brought Fenty Beauty to India and the Ambani family welcomed her like she never left
Rihanna has launched Fenty Beauty in India with a Mumbai pop-up and a private visit to the Ambani family at Antilia, deepening the brand's push into one of the world's fastest-growing beauty markets.
Michael Jackson biopic breaks all music biopic records with $217 million global opening despite bad reviews
The Michael Jackson biopic opened to $217.4 million globally in its first weekend, setting an all-time record for music biopics and wildly surpassing studio estimates of $70 million.
Moroccan tycoon Yariv Elbaz's Forafric is selling its flour business to billionaire Chakib Alj while announcing it wants to pivot to drones and AI
Nasdaq-listed Forafric is selling control of its Moroccan flour business to billionaire Chakib Alj while announcing a drone and AI pivot, one year after a formal going concern warning.
UBA shares drop 10% in early morning trading as investors punish the bank for withholding dividends, wiping N34.7 billion off Tony Elumelu's stake
UBA shares fell 10% Monday after the bank declared no final dividend for FY2025, erasing N34.7 billion from Tony Elumelu's stake in a single morning session.
The Sawiris Exit: What Africa’s Richest Man Leaving London Tells Us About Where Billionaire Wealth Is Moving
Nassef Sawiris has closed his London family office, completing a two-year exit triggered by the end of the non-dom tax status. We map the full timeline, what it means for every African UHNWI with London structures, and where billionaire wealth is moving.
Nigerian billionaire Abdul Samad Rabiu's fortune jumps $2.8 billion in weeks as record profits from BUA Foods push his wealth past $14 billion
Abdul Samad Rabiu's net worth has surged from $11.2 billion to over $14 billion in weeks, driven by an 83% rally in BUA Cement shares and record BUA Foods profits.
African Wealth Briefing — Mon., April 27, 2026
Issad Rebrab's $400 million Italian steelworks gamble collapsed and took his Brazil iron ore dream down with it, and Gideon Muriuki's Co-op Bank restructures into a holding company as it positions for regional expansion across East Africa.
Indian billionaire Gautam Adani is building an African port empire but a US bribery indictment has already cost him Kenya's biggest airport and $2.5 billion in deals
Adani Group controls Tanzania's biggest container terminal and is eyeing South Africa's ports, but a US bribery indictment already derailed $2.5 billion in Kenya deals.
Shaquille O'Neal is on track to billionaire status as Big Chicken goes from 40 locations to 350 in development and Reebok gives him a corner office
Shaquille O'Neal earns $95 million a year and is worth $500 million. His Big Chicken has 350 locations in development and he holds a stake in a $20 billion brand empire.
Algeria's richest man Issad Rebrab's Cevital is being sued in France over Brandt's liquidation
About 60 former Brandt employees plan to sue Cevital in 2 French courts in May, calling their dismissals abusive and seeking civil damages from Algeria's biggest private company.
African Wealth Briefing — Sun., April 26, 2026
Michiel Le Roux's Capitec crosses $1 billion in profit for the first time as its client base hits 26 million, and King Mswati III marks 40 years on the eSwatini throne while the sovereign wealth fund meant to benefit the Swazi people operates as his personal family office.
Kenya's Co-op Bank, controlled by Gideon Muriuki, restructures into holding company for expansion
Co-operative Bank of Kenya plans to restructure into a holding company called Co-opbank Group PLC, separating its banking operations from group activities as it eyes regional expansion.
How Algerian billionaire Issad Rebrab's $400 million steelworks gamble in Italy collapsed and took his Brazil iron ore dream down with it
Issad Rebrab bought a struggling Italian steelworks in 2015 and planned a $400 million revival. Three years later, he sold it and his Brazil iron ore plan collapsed with it.
South African billionaire Michiel Le Roux's Capitec posts $1 billion profit as client base crosses 26 million for first time
Michiel Le Roux's Capitec Bank has posted $1.02 billion in full-year profit, a 23% rise, as its active client base surpassed 26 million for the first time.