Sibanye, led by Neal Froneman, plans to shut loss-making assets
The company warned that its South African PGM operations may no longer be viable if prices don’t recover soon.
Billionaires Africa
Malawi’s richest man loses $183 million from FMB Capital stake
A recent dip in FMB Capital’s share price on the Malawi Stock Exchange has shaved $183 million off Hitesh Anadkat’s investment.
Burkina Faso's richest man to complete $370 million Gabon airport before 2030
This latest disclosure comes just weeks after President Brice Clotaire Oligui Nguema broke ground on the project in March 2024.
Kevin Hart could become a billionaire by 2028
Hart’s fortune could cross the billion-dollar threshold soon, climbing from just over $500 million in 2022.
Seplat, co-founded by Austin Avuru, posts $809 million revenue in Q1 2025
Seplat Energy posts $809.3 million Q1 revenue, up 350%, driven by higher crude and gas production.
Arthur Eze to pay $10 million to regain oil blocks in Equatorial Guinea
Authorities there are demanding a $10 million bonus from him if he wants a chance to recover his oil blocks in the small but oil-rich nation on Africa’s west coast.
Egyptian billionaire unveils coastal city in UAE
Naguib Sawiris' Ora Developers launches Bayn, a coastal city in Ghantoot, blending vibrant urban living with serene Arabian Gulf waterfront.
Nigerian-Lebanese billionaire Bassim Haidar backs Reform UK with $1.3 million
A longtime supporter of the Tories, Haidar is now backing Nigel Farage, whom he believes can restore the UK to its former glory.
Mike Adenuga, before the billions, was Africa’s leading car stereo importer
Before building his empire, Adenuga spotted an early opportunity in an unexpected place: car stereos.
Heirs of Peter Mukuha Kago in fresh feud over Naivas
Heirs of the late Naivas founder, Peter Mukuha Kago, are at odds once again, questioning the fairness of the judiciary in their ongoing dispute over the multi-billion-shilling estate.
Aliko Dangote’s Dangote Cement posts $130 million profit in Q1 2025
Despite challenges, Dangote Cement's revenue grew 21.7%, reaching N994.7 billion ($618.3 million), up from N817.35 billion ($508.4 million).
Absa Bank led by Sello Moloko faces fresh sanctions
This development comes after an inspection in 2022 that revealed lapses in Absa's adherence to critical regulatory requirements.
Femi Otedola, before the billions, was Nigeria’s largest private shipowner
In the early 2000s, before the headlines, Otedola focused on building Nigeria’s largest privately owned shipping fleet.
Stephen Saad loses $130 million as Aspen shares fall amid contract dispute
This follows a $148.7 million contract dispute tied to mRNA technology.
Edha Nahdi's Bamburi Cement launches concrete plant in Mombasa
Bamburi Cement, now owned by Edha Nahdi’s Amsons Group, has launched a new concrete plant in Mombasa to meet rising demand and fuel its recovery.
Johann Rupert’s Richemont finalizes YNAP divestment to Mytheresa
Richemont finalizes $609.7 million YNAP divestment to Mytheresa, marking a major shift in luxury e-commerce and boosting Mytheresa’s global market position.