Black billionaire Robert F. Smith’s Vista targets $200 million savings through loan market pivot
Robert F. Smith’s Vista Equity pursues $200 million savings by swapping costly private debt for syndicated loans.
Billionaires Africa
British executive David Bird named CEO of Aliko Dangote’s $20 billion refinery
David Bird takes over $20 billion Dangote refinery as output rises and plans for public listing take shape in Nigeria.
Nigerian business executive Adegbite Falade steers Aradel to $240 million in H1 revenue
Aradel reports $240.5 million revenue, $95.7 million profit in H1 2025, fueled by strong crude output and asset expansion.
Nigerian billionaire Abdul Samad Rabiu’s BUA Foods posts nearly $600 million in half-year revenue
BUA Foods posts $596 million revenue, $169.8 million profit in H1 2025 as sugar, flour, and pasta drive strong gains.
Karl Toriola-led MTN Nigeria posts $1.57 billion in half-year revenue
MTN Nigeria posts $1.55 billion H1 revenue, swings to $271 million profit on soaring data, fintech growth, and improved forex environment.
Luxury Cape Town home once owned by Markus Jooste goes on sale for $5.8 million
A luxury estate once owned by Markus Jooste, the late CEO at the center of South Africa’s biggest corporate fraud, is up for sale in Hermanus for $5.8 million.
Palantir, led by Black billionaire Alex Karp, lands $10 billion U.S. Army contract
Palantir lands $10 billion U.S. Army contract as CEO Alex Karp drives AI-powered defense modernization.
Moroccan businessman Alami Lazraq loses $33 million as ADI shares fall
Alami Lazraq’s stake in ADI drops $33 million as shares slide, reversing a sharp rally in Morocco’s real estate market.
South Africa’s richest man Johann Rupert’s Remgro to unbundle shares in eMedia Holdings
Rupert’s Remgro to unbundle eMedia Holdings shares in a move aimed at streamlining media holdings and boosting shareholder value through direct exposure.
South African billionaire Jannie Mouton gains $52 million from Capitec stake
Capitec Bank's stock rally boosts Mouton's fortune, reinforces bank’s status as Africa’s leading retail bank.
Nigerian oil mogul Wale Tinubu’s Oando reports $1.12 billion in half-year revenue
The company also posted a net profit of $41.3 million, boosted by a tax credit and a recovery from earlier losses tied to asset impairments.
Seplat, co-founded by Austin Avuru, reports nearly $1.4 billion in half-year revenue
Seplat Energy posts $1.4 billion H1 2025 revenue, up 231%, as oil sales soar; profit falls 45% on tax bill and rising admin costs.
South African billionaire Zak Calisto’s Karooooo to pay $38.6 million dividend to shareholders
Karooooo, led by Zak Calisto, approves $38.6 million dividend as revenue surges, fueled by Cartrack subscriptions and logistics growth in early FY 2026.
ArcelorMittal South Africa, linked to Noluthando Gosa, reports $52 million loss
ArcelorMittal SA posts $52 million H1 2025 loss as weak demand, lower prices, and rising debt weigh on margins despite IDC support and cost cuts.
Africa’s richest man, Aliko Dangote, nears $29 billion fortune as refinery listing looms
Dangote nears $29 billion net worth with refinery listing plans and strong gains in cement, sugar, and energy.
Nigerian oil mogul Wale Tinubu’s Oando plans $1.2 billion solar power project
Oando to build $1.2 billion solar panel factory with Africa’s first recycling line, expand drilling, and raise $327.5 million for clean energy growth.