Egyptian businessman Naguib Sawiris nears $10 billion fortune
Naguib Sawiris nears a $10 billion fortune as gold and real estate investments fuel his rise.
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Nigerian logistics mogul Taiwo Afolabi opens new projects to boost community life
Taiwo Afolabi commissions ICT hub, market stalls, and a recreational park in Ogun State to uplift local communities.
South African billionaire Jannie Mouton's Capitec stake rebounds to $1.2 billion
South African billionaire Jannie Mouton’s Capitec stake rises to $1.2 billion as shares gain on renewed investor confidence.
Africa’s richest man leads record fuel exports from Dangote refinery
Dangote made the announcement at a conference, saying the plant has helped ease a problem that has dogged Nigeria for decades.
Kenyan tycoon John Kimani-linked Kakuzi teams up with government to boost agribusiness
Kakuzi, partly owned by tycoon John Kimani, partners with Siaya County to boost avocado and macadamia farming, aiming to lift rural incomes.
South African billionaire Johann Rupert’s Richemont watch brand sets up first U.S. boutique
The store marks Watchfinder’s first permanent boutique in the American market, offering customers an opportunity to experience its inventory in person.
Africa’s richest man sees $163 million wiped from wealth on cement slump
Africa’s richest man Aliko Dangote loses $163 million on cement slump, trimming fortune to $28.8 billion.
Egyptian billionaire Yasseen Mansour loses $6.5 million on Palm Hills stake
Chairman Yasseen Mansour’s Palm Hills stake falls $6.55 million amid continued share pressure on the Egyptian Exchange.
Aliko Dangote's refinery to begin direct petrol supply in Nigeria
Dangote Refinery will start direct petrol supply to 11 Nigerian states from Sept. 15, setting pump prices at N841 to N851 per liter.
Equity Group, led by Kenyan banker James Mwangi, seizes Nairobi’s Eastland Hotel
Equity Bank has seized Nairobi’s Eastland Hotel over loan default, underscoring mounting pressure on Kenya’s hospitality sector and rising bad debt
Wema Bank, partly owned by gambling magnate Adebutu, wins nod for $100 million capital raise
The capital raise, which opened on April 14 and closed on May 21, was part of the lender’s plan to meet the CBN’s recapitalization directive for commercial banks.
Kenya’s richest banker James Mwangi adds $12.6 million from Equity Group stake
Kenyan banker and leading businessman James Mwangi adds $12.6 million from his Equity Group stake as shares rally.
Kenyan tycoon Narendra Raval targets 7,610 acres to mine iron ore for steel plant
The application covers 30.8 square kilometers, or about 7,610 acres. Iron ore, which is mainly used to make pig iron, is a key raw material in steel production.
Egyptian tycoons Sawiris, Allam launch $6.5 million social project
Egyptian tycoons Naguib Sawiris and Hassan Allam sealed a $6.5 million social impact deal to boost education, farming, and fight poverty.
Malagasy businessman Hassanein Hiridjee’s Axian backs Paris AI cybersecurity startup
Malagasy businessman Hassanein Hiridjee’s Axian joined a $3.5 million round for Paris-based Nucleon Security to scale AI-driven cyber defense.
OpenAI seals $300 billion cloud computing deal, months after Ogunlesi joins board
OpenAI signs $300 billion Oracle deal after Adebayo Ogunlesi joins board, fueling AI growth and valuation push.