Zenith Bank to pay Jim Ovia $4.9 million in October
Jim Ovia will receive nearly $5 million from the lender’s $34.5 million interim dividend payout to shareholders.
Billionaires.Africa
Judge delays ruling in $116 million land case involving Mombasa businessman Mohamed Jaffer
Mombasa businessman Mohamed Jaffer faces further delays in the $116 million Mayport Limited land dispute as court sets new judgment date for Oct. 17.
South African billionaire Michiel Le Roux gains $87 million from Capitec stake
Capitec Bank co-founder Michiel Le Roux adds $87 million to his wealth after the bank’s stock surge boosts its market value past $24 billion.
Moroccan physician Rochdi Talib’s Akdital opens $24 million clinic in Khouribga
Akdital opens $24 million clinic in Khouribga, adding 100 beds and the city’s first oncology, cardiology and intensive care units.
Nigerian businesswoman Aisha Achimugu’s Felak Group rejects ties to $7 million Providus Bank deal
Felak Group rejects reports linking Aisha Achimugu and Oceangate Engineering to a $7 million Providus Bank case.
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.
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.