Nigerian billionaire Femi Otedola warns depot owners as Dangote Refinery reshapes fuel supply
Nigerian billionaire Femi Otedola backs Dangote Refinery, urges depot owners to adapt as $20 billion project transforms Nigeria’s fuel supply chain.
Billionaires.Africa
South Africa’s second-richest man, Nicky Oppenheimer, is $1.75 billion richer so far in 2025
South African billionaire Nicky Oppenheimer grows his fortune to $13.3 billion after a $1.75 billion gain in 2025.
Shoprite Nigeria’s big-store model no longer sustainable under Tayo Amusan’s Ketron
Shoprite Nigeria, under Ketron, is revamping operations, focusing on smaller stores and local supply chains to better serve Nigeria’s market.
British-Nigerian entrepreneur Ladi Delano leads Moove on path to $2 billion
Moove, led by Ladi Delano, targets $2 billion valuation, expanding mobility financing across Africa, the U.S., and Latin America.
South African tycoon Giovanni Ravazzotti loses $67 million from Italtile stake
South African businessman Giovanni Ravazzotti’s Italtile stake drops $67 million amid weaker consumer demand and JSE pressures.
Africa’s richest man, Aliko Dangote, plans electric trucks for fuel distribution
Dangote said the next phase of the company’s plan is the adoption of electric trucks, beginning early next year.
Malawi billionaire Hitesh Anadkat’s FMB stake tops $1.2 billion
Malawian billionaire Hitesh Anadkat’s FMB stake climbs to $1.22 billion amid regional banking growth.
Franco-Lebanese businessman Hayssam El Jammal invests $150 million in Cameroon
Franco-Lebanese businessman Hayssam El Jammal is investing $150 million to boost aluminum and steel output in Cameroon and cut reliance on imports.
South African exec. Gary Nagle-led Glencore targets Chevron’s Singapore refinery stake
Glencore and Vitol prepare bids for Chevron’s $1 billion Singapore refinery stake as U.S. oil giant trims Asian assets.
Aliko Dangote’s $20 billion refinery suspends self-collection sales
Aliko Dangote’s $20 billion refinery halts self-collection sales, shifts marketers to free delivery scheme to streamline fuel supply.
Tony Elumelu now owns over 16 percent of UBA
Tony Elumelu raises UBA holdings to 16.38 percent worth $211 million, reinforcing his influence as one of Nigeria’s richest businessmen.
South African exec. Fani Titi-led Investec expands advisory business into Switzerland
The move folds the Zurich-based team into Investec’s broader European advisory arm, expanding the firm’s footprint in a market where it has operated since 1978.
Nigerian banker Jim Ovia’s Zenith Bank sees $355 million profit in first half
Zenith Bank’s H1 profit falls to $355 million as impairments rise, while total assets reach $20.7 billion.
Anglo American, led by South Africa's Duncan Wanblad, to cut jobs in Australia’s Bowen Basin mines
The Isaac Regional Council, which covers the coal-rich Bowen Basin, said about 200 jobs will be affected.
Mellody Hobson’s Ariel Alternatives expands with industrial services acquisition
Mellody Hobson’s Ariel Alternatives expands into industrial services with its $1.45B Project Black fund, acquiring Groome Industrial Service Group.
Egyptian billionaire Mohamed Mansour points to AI as Africa’s development lever
Egyptian billionaire Mohamed Mansour sees artificial intelligence as a key lever for Africa’s growth.