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.
Billionaires Africa
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.
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.
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.