South African billionaire Patrice Motsepe’s ARC battles US firm in $193 million lawsuit
Patrice Motsepe’s ARC takes a $193.7 million graphite mining dispute with US-linked Pula Group to Johannesburg’s High Court.
Billionaires Africa
Kenyan pharma tycoon Rupen Mulchand Haria wins $3.2 million tax case
Rupen Mulchand Haria secures $3.2 million tax victory, confirming capital gains tax applies on sale date, not registration.
Africa’s richest man Aliko Dangote’s refinery lowers petrol prices across Nigeria
Dangote refinery cuts petrol price to $0.534 per liter, boosting Nigeria’s energy independence and processing 500,000 barrels daily.
Elsewedy Electric, owned by billionaire El-Sewedy family, to develop industrial zone in Egypt
The zone will be built to international standards and host a range of industries, including mining, engineering, chemicals, manufacturing, and food production.
South African businesswoman Phuthi Mahanyele-Dabengwa’s Naspers shares now worth $12.4 million
Phuthi Mahanyele-Dabengwa’s Naspers stake rises to $12.4 million as shares surge, boosting Africa’s most valuable company.
Edita, led by Egyptian tycoon Hani Berzi, posts $190 million revenue in first half of 2025
Egypt’s Edita Food Industries, led by Hani Berzi, posts $190.7 million H1 2025 revenue, with profit up 22.7% despite lower sales volumes.
Thom Mpinganjira becomes Malawi’s first dollar billionaire
Malawian banker Thom Mpinganjira’s FDH Bank shares reach $1.12 billion, making him the country’s first billionaire and richest citizen.
Egyptian billionaire Samih Sawiris’ ODE posts $237.9 million revenue in H1 2025
Orascom Development Egypt’s H1 2025 revenue rose 12.9% to $237.9 million, fueled by strong real estate, hospitality, and commercial asset performance.
Egyptian billionaire Hisham Talaat Moustafa’s TMG stake rises above $1 billion
Hisham Talaat Moustafa’s TMG shares hit $1.04 billion in value as the company’s stock climbs 8.72%, pushing market cap above $2.4 billion.
Ugandan tycoon Charles Mbire-led MTN Uganda posts $483 million half-year revenue
MTN Uganda’s half-year revenue rose 13.1% to $483.3 million, powered by data and fintech gains, despite a tax settlement denting net profit.
Aliko Dangote’s $20 billion refinery deploys 4,000 CNG trucks in Nigeria
The CNG-powered fleet, imported through Lagos’ Apapa Port, will support the refinery’s fuel delivery program set to launch on August 15.
French billionaire’s firm Canal+ hit as Ghana orders MultiChoice shutdown over rates
The regulator has given the company 30 days, until Sept. 8, to respond or risk losing its broadcasting license.
Thom Mpinganjira becomes Malawi’s richest as FDH Bank stake soars to $1.1 billion
Thom Mpinganjira’s FDH Bank stake reaches $1.12 billion, making him Malawi’s richest man as the bank’s value surges to $2 billion in 2024.
Billionaire Abdul Samad Rabiu’s BUA Foods becomes Nigeria’s most valuable company
BUA Foods tops Nigerian Exchange with $6.76 billion valuation; revenue grows 36%, net profit doubles in first half of 2025.
South African pharma tycoon Gus Attridge loses $12 million from Aspen stake
Gus Attridge’s Aspen Pharmacare stake drops over $12 million as shares slide 9.45%, pushing market value below $3 billion.
Bridgette Radebe, South Africa’s first Black mining tycoon, disputes $10 billion money laundering claim
Botswana’s High Court has cleared mining tycoon Bridgette Radebe of $10 billion laundering claims, ordering a government apology for false allegations.