Shelf Drilling secures two-year contract extension with Conoil in West Africa
Shelf Drilling renews Nigeria offshore deal with Conoil through 2027, with option to extend to 2028 in OMLs 153 and 59.
Billionaires Africa
Kenyatta family took in up to $22 million in 2022 from Nairobi Expressway build
The Kenyatta family earned up to $22 million in 2022 from land and sand deals during the $682 million Nairobi Expressway construction, records show.
Zimbabwean tycoon Ken Sharpe’s WestProp begins work on $4 billion smart city in Harare
Conoil Producing extends its partnership with Shelf Drilling through 2027 to advance offshore work, following the launch of its Obodo crude grade.
South African tycoon Barry Swartzberg's Discovery stake falls by $13.7 million
Discovery shares dip 4.33% on JSE, wiping $13.7 million from Barry Swartzberg’s stake and pushing market value below $8 billion.
First HoldCo’s half-year earnings top $1 billion under Nigerian billionaire Femi Otedola
First HoldCo’s gross earnings jump to $1.07 billion in H1 2025, while Otedola-led reforms drive asset growth and investor confidence.
Kenyan court dismisses suit against Tanzanian billionaire Rostam Aziz’s $130 million gas plant
Kenyan court clears Tanzanian billionaire Rostam Aziz’s $130.5 million LPG terminal project, opening the way for expanded energy access in East Africa.
Glencore, led by South African executive Gary Nagle, to cut global operating costs by $1 billion
Glencore targets $1 billion in savings, plans coal spinoff and copper mine closure amid weak refining margins.
Nigerian oil tycoon Mohammed Indimi makes $8.3 million from Jaiz Bank shares
Indimi is the largest shareholder in Nigeria’s pioneering non-interest bank, holding a 29.36% stake in Jaiz Bank.
South African executive Gerrie Fourie bags $8.2 million farewell payout from Capitec
Capitec’s longtime CEO Gerrie Fourie exits with $8.2 million payout after growing the bank into a $22.42 billion retail leader.
Prosus, led by South African billionaire Koos Bekker, extends $4.73 billion Just Eat offer to October
Prosus extends $4.73 billion Just Eat Takeaway offer to October 2025, aligning with EU review, eyes $12.5 billion revenue by 2028.
Malawian businessman Thom Mpinganjira’s stake in FDH Bank tops $840 million
FDH Bank stock climbs 255% YTD, boosting Mpinganjira’s stake to $842 million and lifting the bank's market cap past $2 billion.
Nigerian businessman Tony Elumelu’s Transcorp reports $183 million in half-year revenue
Transcorp posts $183 million H1 2025 revenue, with assets rising to $592 million across power, hospitality, and energy sectors.
Accelerate, partly owned by Michael Georgiou, secures $5.57 million capital
Accelerate, part-owned by Michael Georgiou, secures $5.57 million to upgrade Fourways Mall and ease debt burden amid unresolved affiliate claims.
Indian billionaire Sunil Bharti Mittal’s Airtel Africa posts $1.42 billion in first-quarter revenue
Airtel Africa, led by Indian billionaire Sunil Mittal, posted $1.42 billion in Q1 revenue, driven by mobile money, data growth, and user expansion.
Adrian Gore's Discovery Green faces legal challenge from Eskom over trading license
Eskom sues to block trading licenses issued to Discovery Green and others, warning of grid risks and unfair energy market competition.
Christo Wiese-backed Pepkor draws $470 million investment from US-based hedge fund
Silverpoint Capital’s $470 million stake in Christo Wiese-backed Pepkor signals global investor confidence, following PIC’s deeper $874 million commitment.