African Wealth Briefing — Mon., June 1, 2026
James Mwangi's Equity Group plans two DRC insurers as its Congo bank's profit jumps 58%. Wale Tinubu's Oando finally sets a June 12 date for its delayed 2025 audit.
Latest
Ghanaian multimillionaire Richard Nii Armah Quaye's ex-wife demands $2.5 million in divorce battle
Joana Quaye rejected RNAQ's GH¢2 million ($129,032) divorce offer as condescending and demanded GH¢40 million ($2.58 million), Accra mansions and shares in his companies.
SpaceX proxy fund investors want out before the June 12 IPO but may be trapped
Investors who rushed into SpaceX proxy funds want out as the June 12 IPO nears, but many face liquidity constraints that could leave them stuck until SPCX begins trading.
South African billionaire Michiel Le Roux donated $3.5 million to the DA in 12 months
IEC data shows Michiel Le Roux donated R58 million ($3.57 million) to the DA in 12 months, the biggest individual political donation in South African history.
Aspen Pharmacare's $1.6 billion APAC sale adds $33 million to Stephen Saad's net worth
Aspen Pharmacare shares surged 7% after completing its R27bn APAC sale, adding approximately R550 million ($33.5 million) to Stephen Saad's fortune in a single trading session.
Elon Musk's SpaceX cuts its IPO target to $1.8 trillion after a $4.28 billion Q1 loss
SpaceX lowered its IPO target to $1.8 trillion after a $4.28 billion Q1 loss, but retail investors have poured $14 billion into proxy funds since December.
Nedbank's NCBA offer window opens and billionaire Muhoho Kenyatta stands to book a 20% gain on his $154 million stake
Nedbank's NCBA buyout offer opened May 29 at Sh105, offering shareholders a 20.3% gain above NSE prices. Muhoho Kenyatta stands to be the biggest individual winner.
Jay-Z breaks concert silence with freestyle dissing Drake and Kanye
Jay-Z broke six years of solo concert silence at Roots Picnic on May 30 with a freestyle apparently aimed at Drake, Kanye West and Nicki Minaj.
Ghanaian Tycoon Paa Kwesi Nduom says GN Savings will reopen first in Elmina
Nduom says GN Savings will reopen first in Elmina, pressing ahead with the Court of Appeal's reinstatement order despite Bank of Ghana's Supreme Court challenge.
Kanye West breaks the record for largest stadium concert attendance with 118,000 fans in Istanbul
Kanye West performed to 118,000 fans in Istanbul on May 30, his first European show since 2014, claiming the record for the largest ticketed stadium concert.
Who is Chris Obure, the Nairobi tycoon seeking $59 million over eviction
Nairobi tycoon Chris Obure is suing for Sh7.6 billion after auctioneers evicted his firm from Senteu Plaza and gold bars vanished during a May 2025 raid.
Who is Ze Nxumalo, the South African businessman who paid $215,000 for a city manager's private jet trip to London
Ze Nxumalo paid R3.35 million for a private jet used by Ekurhuleni city manager Imogen Mashazi in 2022. He says he chartered it for another businessman.
Australian mining tycoon Tony Poli holds a $120 million stake in a Burkina Faso gold miner facing a government takeover demand
Anthony Poli holds 4.49% of West African Resources worth over $120 million as Burkina Faso demands a 40% stake in the company's Kiaka gold mine.
Heineken fights Kenyan beer tycoon Ngugi Kiuna over interest on $11.4 million award
Heineken is fighting Sh230 million in interest charges on Ngugi Kiuna's Sh1.47 billion distributorship award, arguing the amount was never part of original court proceedings.
Namibia's 33-year-old Miguel Hamutenya just became owner of 52 fuel stations and the country's third-largest energy retailer
Miguel Hamutenya's Nasan Energies completed its takeover of 52 Engen and Shell stations from Vivo Energy, making the 33-year-old entrepreneur Namibia's third-largest fuel retailer.
African Wealth Briefing — Sun., May 31, 2026
James Mwangi's Equity Group plans two DRC insurers as its Congo bank's profit jumps 58%. Wale Tinubu's Oando finally sets a June 12 date for its delayed 2025 audit.