South African multimillionaire Nkululeko Sowazi named as new Investec Bank chair
South African investment veteran Nkululeko Sowazi has been appointed to Investec's board and will become chair of Investec Bank Limited from August 6, 2026.
Latest
Nigerian oil billionaire Igho Sanomi turns 51 with a standout philanthropy record
Nigerian oil billionaire Igho Sanomi turns 51 with a philanthropy record spanning hospital wards, flood zones and cancer research labs on two continents.
Nigerian energy tycoon Olakunle Williams’ Tetracore signs UK tech deal for 5,000 BPD gas-to-liquids plant in Ogun
Tetracore GTL has signed a technology agreement with UK-based Velocys to develop a 5,000 BPD gas-to-liquids plant in Atakabo, Ogun State, Nigeria.
Billionaire Femi Otedola says he sold his Geregu Power stake to buy $100 million worth of Dangote Refinery shares
Femi Otedola confirmed he sold his Geregu Power stake to fund a $100 million investment in the Dangote Petroleum Refinery IPO as demand for the offering approaches $2 billion.
Ghanaian tycoon Papa Kwesi Nduom triumphs as Court of Appeal restores GN Savings licence
Ghana's Court of Appeal unanimously restored Papa Kwesi Nduom's GN Savings and Loans licence on May 21, ruling the Bank of Ghana's 2019 revocation was unfair and unreasonable.
South Africa's billionaire Levy brothers wrote down $33 million on Cell C and are now selling down their stake
Blue Label co-CEOs Brett and Mark Levy revealed what went wrong with their R5.5 billion Cell C bet and confirmed Blu Label is now looking to reduce its controlling stake in the mobile operator.
Egypt's Oriental Weavers posts $130 million Q1 revenue as profits begin recovering
Oriental Weavers posted Q1 2026 revenue of EGP 6.9 billion ($130.3 million) and net profit of EGP 614 million ($11.6 million) as the world's largest machine-woven carpet maker finds its footing.
Zambian tycoon Rajan Mahtani built a bank and sued Bob Diamond. He says he still has not been paid what he is owed.
Rajan Mahtani built Zambia's first indigenous private bank, fought a decade-long cement war with an Italian family, sold his bank to Bob Diamond and lost the payout in a London courtroom.
Congo-Brazzaville raises $850 million in landmark bond market return
The Republic of Congo raised $850 million in a 10-year international bond at 9.5% coupon, with demand exceeding $1.6 billion from nearly 80 international investors.
Abderrahmane Benhamadi heard a Simon and Garfunkel song and named the company that became Algeria's largest private corporation after it
Abderrahmane Benhamadi named his company after a Simon and Garfunkel song. That company is now Algeria's largest private corporation, with over $1 billion in annual revenue.
South African billionaire Johann Rupert's Richemont just pushed Walmart out of the number two spot in North America's jewelry market
Johann Rupert's Richemont has displaced Walmart to rank second among North America's largest jewelry retailers, posting $3.62 billion in watch and jewelry sales from just 105 locations in 2025.
Aliko Dangote sets September IPO launch for $50 billion refinery as pre-orders near $2 billion
Aliko Dangote told reporters at the Lekki refinery the IPO will launch in September with private placement requests already approaching $2 billion.
Nigerian Logistics mogul Taiwo Afolabi urges African firms to build global-scale corporations that outlast their founders
SIFAX chairman Taiwo Afolabi told the Africa CEO Forum in Kigali that the continent must build large corporations strong enough to outlast their founders.
Aigboje Aig-Imoukhuede calls Africa's risk premium a 'tax on development'
Access Holdings chairman Aigboje Aig-Imoukhuede told the Africa Forward Summit in Nairobi the continent's growth now depends on cutting its punitive cost of capital.
Nassef Sawiris bought Aston Villa for £30 million. It is now worth over £1 billion and has a European trophy.
Nassef Sawiris bought Aston Villa for £30 million in 2018 when the club was near collapse. Seven years later it has a European trophy and a valuation above £1 billion.
African Wealth Briefing — Thurs., May 21, 2026
Aliko Dangote says Africa's industrial future depends on fixing electricity first; Patrice Motsepe calls for more local mineral processing; Strive Masiyiwa says Africa must build global companies from home.