Mozambique, Aiteo launch 240,000 bpd refinery to position nation as regional energy hub
Aiteo signs EPC deal to build 240,000 bpd Mozambique refinery, boosting energy security and cutting fuel imports in Southern Africa.
Billionaires Africa
Egyptian billionaire Samih Sawiris’ Mamula Island enters new era with Banyan Group
Egyptian billionaire Samih Sawiris’ Mamula Island hotel begins a Banyan Tree rebrand after a seven-year restoration of the historic fortress.
Nigerian billionaire Femi Otedola’s Geregu Power sees $57 million in 2025 half-year revenue
Geregu Power, led by Femi Otedola, posts steady $57.4 million revenue in H1 2025, showing strength in a tough energy market.
Burna Boy Inc.: From Afrobeats icon to multimillion-dollar mogul
Being Burna is big business. Over the past half decade, Nigeria's most popular cultural export has racked up tens of millions of dollars in everything from international tours and private gigs to endorsements and his own cannabis brand.
Egyptian billionaire Hisham Talaat Moustafa’s TMG shares top $1 billion again
Hisham Talaat Moustafa's stake in TMG rebounds above $1 billion after a 10% share rally, adding $95 million in 22 days.
Prosus, led by South African billionaire Koos Bekker, backs Brazil’s Ursula AI in $3.6 million round
The $3.6 million (R$20 million) seed round was led by Village Global, with participation from Prosus Ventures and Worldbuild.
South African billionaire Christo Wiese’s Brait reports $1.1 billion revenue in 2025
Brait posts 7% revenue growth to $1.1 billion in 2025, reversing losses and strengthening NAV per share following recap, Virgin Active and Premier gains.
Cobus Stofberg: The South African businessman with $114 million stake in media giant Naspers
Cobus Stofberg’s $114 million stake in Naspers highlights his role in building Africa’s top media and tech companies.
Under Nigerian banker Segun Agbaje, GTCO becomes first West African lender to list in London
GTCO lists in London under Segun Agbaje, marking a first for West African banks and raising $105 million to meet capital goals.
Nigerian businessman Temitope Lawani's Helios gets $50 million to support African sports, entertainment
Helios secures $50 million from IFC and Proparco to scale Africa’s sports and entertainment sector through investments in events, media rights, and infrastructure.
Egyptian billionaire brothers, Ahmed and Sadek, gain $80 million from Elsewedy Electric stake
El-Sewedy brothers’ stake in Elsewedy Electric jumps over $80 million in under three weeks as investors rally behind Egypt’s industrial growth.
Johann Rupert’s Remgro, Vodacom get nod for $741.7 million Maziv fiber deal
South Africa’s regulator drops opposition to Vodacom’s $741.7 million deal for Maziv, moving Johann Rupert’s Remgro closer to sealing the landmark fiber acquisition.
Ivorian tycoon Koné Dossongui plans $18 million cocoa plant expansion in Cameroon
Dossongui’s Atlantic Cocoa to raise Kribi plant output to 64,000 tons as part of $18M upgrade backed by Swiss machinery firm Bühler.
Tanzanian billionaire Said Bakhresa opens $100 million soya plant in Malawi
$100 million plant to process 500 tons of soya daily, boost Malawi’s agriculture, and reduce reliance on imported cooking oil.
Aliko Dangote's $20 billion refinery to process all Nigerian crude by year-end
Africa’s largest refinery eyes 100% local sourcing, boosts fuel self-sufficiency and cuts costly imports.
South African businessman Barry Swartzberg’s Discovery stake rises by $12 million
Barry Swartzberg's Discovery stake gains $12.4 million in 15 days as shares rally 4% on the JSE.