Africa’s richest royal family gains $432 million from Attijariwafa Bank stake
Morocco’s royal family gains $430 million as Attijariwafa Bank shares surge, boosting stake to over $7 billion amid rising investor confidence.
Billionaires Africa
Egyptian billionaire Hisham Talaat Moustafa’s TMG stake rebounds above $1 billion
Hisham Talaat Moustafa’s TMG stake rebounds above $1 billion amid strong EGX rally and plans for $4.7 billion Oman expansion.
Egyptian businesswoman Hend El-Sherbini leads IDH to $31 million in Q1 revenue
IDH Q1 revenue jumped 35% to $31.8M; Egypt, Jordan led growth. Nigeria turned profitable; Saudi expansion plans signal future gains.
Emmanuel Katongole’s QCIL gets $36 million for new pharma plant in Uganda
Uganda’s QCIL gets $36 million Stanbic loan for second pharma plant, aims to scale drug output and locally manufacture TB treatments for regional markets.
Aliko Dangote's mega refinery ends Nigeria’s era as Africa’s top fuel importer
The $20 billion refinery, the largest in Africa and the world’s biggest single-train facility, has reduced Nigeria’s need for imported petrol.
From Boom to Bust: Malawi’s richest man loses $270 million in 3 months
FMB Capital’s stock dips 30%, slashing Hitesh Anadkat’s stake by $274 million. Yet, investors stay confident in the regional banking powerhouse.
Sam Darwish’s IHS to sell Rwandan tower assets for $274 million
IHS Holding divests its 1,465 Rwandan towers to Paradigm Tower Ventures for $274.5 million, refocusing on core markets amid global portfolio reshuffle.
Egyptian billionaire Yasseen Mansour’s Palm Hills signs deal for real estate project in UAE
Palm Hills expands beyond Egypt with a major Abu Dhabi project near Saadiyat Island, boosting Gulf presence amid record-breaking Q1 2025 sales.
South African tycoon Stephen Saad's Aspen opens regional headquarters in Saudi Arabia
Aspen’s investment comes amid a broader push to localize manufacturing, enhance drug supply chains, and develop regional talent.
Legal dispute threatens Tanzanian billionaire Rostam Aziz’s Mombasa LPG project
Rostam Aziz’s Mombasa LPG project faces court challenge over alleged environmental harm, coral disruption, and lack of community consultation.
Egyptian businessman Ahmed El-Sewedy gains $36 million from company shares
Elsewedy Electric’s shares rise 4.12% in 2025, boosting Ahmed El-Sewedy’s stake amid Egypt’s energy infrastructure and green projects growth.
Barloworld, led by Dominic Sewela, extends probe into Russian operations
Barloworld prolongs Russia probe through Sept. 2025 amid sanctions pressure, falling revenue, and possible delisting via Zahid Group-backed buyout.
Moroccan billionaire Anas Sefrioui’s stake in Addoha falls below $1 billion
Sefrioui, founder and majority shareholder of Addoha, holds a 64.78 percent stake—equivalent to 260.8 million shares in the Casablanca-based real estate group.
Neal Froneman-led Sibanye rescues 260 workers trapped in South Africa mine
The miners were stranded Thursday after a skip door on a rock winder opened unexpectedly at Level 39, disrupting access to lower levels.
Pick n Pay, backed by Ackerman family, posts $6.8 billion revenue in 2025
Pick n Pay, partly owned by the Ackerman family, posted $6.8 billion revenue in 2025 as Boxer growth and recapitalization drove a sharp cut in losses.
Egyptian billionaire Hassan Allam signs deal to revive Alexandria Tram Line
The contract, awarded by the National Authority for Tunnels (NAT), marks a pivotal push to modernize urban transport in Egypt’s second-largest city.