Nigerian tycoon Muazzam Mairawani plans $600 million cement plant to rival Dangote, Rabiu
Nigerian tycoon Muazzam Mairawani plans a $600 million cement plant in Kebbi, challenging Dangote Cement and BUA.
Billionaires.Africa
Black executive Marvin Ellison leads Lowe’s expansion with $8.8 billion FBM purchase
The move reflects Ellison’s push to strengthen Lowe’s footprint and deliver stronger earnings.
Coty posts $381 million loss in 2025 under Algerian-born executive Sue Nabi
Coty, led by Algerian-born executive Sue Nabi, posted a $381 million loss in 2025 as weak demand and currency pressures hit sales of fragrances and cosmetics.
Nigerian energy executive Adegbite Falade leads Aradel in new domestic supply deal with NLNG
Nigerian energy executive Adegbite Falade leads Aradel in a new domestic gas supply deal with NLNG, boosting local energy production.
WPP Scangroup, founded by Kenyan tycoon Bharat Thakrar, set for layoffs amid half-year loss
WPP Scangroup, founded by Bharat Thakrar, is cutting jobs after posting a half-year loss amid weak demand and cash strain.
South African billionaire Johann Rupert’s Richemont to open new Hong Kong store
South African billionaire Johann Rupert’s Richemont brings Vhernier to Asia with a new Hong Kong boutique.
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.
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.
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.
Nigerian tycoon Abdullahi Bashir Haske targeted as EFCC seeks to freeze $15 million account: Report
EFCC seeks to freeze $15 million belonging to Nigerian businessman Abdullahi Bashir Haske amid money laundering and criminal conspiracy claims.