Aliko Dangote’s mega refinery commits $467 million to CNG push
The refinery is deploying 4,000 CNG-powered trucks nationwide to deliver petrol, diesel, and aviation fuel directly to filling stations and industrial hubs.
Billionaires Africa
Egyptian billionaire Nassef Sawiris’ OCI finalizes $1.6 billion methanol business sale
OCI sells $1.6 billion methanol unit to Methanex, secures cash, cuts debt, and plans $1 billion shareholder payout by 2026.
Jens Montanana’s Datatec revenue falls to $3.6 billion in FY 2025
Datatec’s revenue dropped nearly 9% to $3.64 billion in FY2025, while net profit rose 36% as the group focused on cost discipline and strategic growth.
Elon Musk’s Starlink reconnects Nigeria after regulatory halt
The expansion comes after significant upgrades to network capacity, aimed at boosting connectivity in Africa’s most populous nation.
Egypt’s Mohammed El-Sewedy sees electric stake rise toward $600 million
Egyptian tycoon gains $31.6 million in eight days as Elsewedy Electric stock surges on EGX.
Billionaire Femi Otedola backs tax reforms, calls them turning point for Nigeria’s economy
The Nigerian businessman and philanthropist hails President Tinubu’s overhaul of Nigeria’s tax laws as a transformative moment for business and inclusive growth.
Equity Group, led by James Mwangi, receives approval to launch UAE office
This marks a significant milestone in the bank’s international expansion strategy as it seeks to deepen global connectivity and access new markets.
Merali family's Sameer Africa closes $7.1 million land sale to slash debt
Sameer Africa finalizes $7.1 million land sale after years of delay, using proceeds to cut debt as profit hits a decade high, driven by forex gains and lower costs.
Neal Froneman’s Sibanye nears decision on restarting $281 million Burnstone gold project
“There’s no question, it’s a good project,” Froneman said, noting that the company had already invested $223.3 million before pausing development in 2021.
Aliko Dangote’s fertilizer plant listing may fetch $3 billion in market value
The fertilizer plant, spread across 500 hectares in Ibeju Lekki, Lagos, is already the largest of its kind in Africa.
Black billionaire Robert F. Smith’s Vista secures $5.6 billion to invest in cloud software
The technology-focused firm raised $2.7 billion in fresh capital, alongside $2.2 billion from existing flagship funds.
Safwan Thabet’s Juhayna starts 2025 strong with $13 million Q1 profit
Safwan Thabet-led Juhayna posted a $13 million Q1 profit in 2025, driven by robust demand, merger gains, and product innovation across core dairy and juice segments.
Ghana’s Agyepong expands waste management operations to Burkina Faso after Lagos deal
Agyepong’s Jospong Group expands into Burkina Faso, launching a youth-led waste management system after sealing a landmark deal in Lagos.
South African billionaire Koos Bekker-led Prosus plans to double revenue by 2028
The company’s CEO, Fabricio Bloisi, announced this ambitious growth plan during Prosus’s Capital Markets Day on Wednesday.
South African billionaire Jannie Mouton gains $37 million from Capitec shares
Capitec’s stock surge boosts Mouton’s fortune and reaffirms investor confidence in South Africa’s leading retail bank.
Sven Thieme expands O&L’s footprint in Namibia’s luxury tourism with Desert and River Lodge acquisitions
The deal is currently subject to approval by the Namibian Competition Commission.