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Aliko Dangote has raised about $2.5 billion privately at a ~$40 billion valuation, days before floating the refinery on the Nigerian Exchange. Last week we called the IPO the hinge of his whole network. This is the hinge turning.
AngloGold Ashanti has dethroned Naspers as Africa's most valuable listed company. The first apex change in years requires immediate reframing of how Elite subscribers size African equity allocations.
Aliko Dangote now has three parallel equity vehicles in motion — cement London listing in September, refinery IPO in June-July, and the Kenya vehicle. A position-sizing framework for Elite subscribers.
The Dangote Refinery IPO is on track to open subscription in May, with a Nigerian Exchange listing targeted between June and July. Today's Investor Memo lays out the structural questions Elite subscribers should be asking before the prospectus drops.
Nassef Sawiris has closed his London family office, completing a two-year exit triggered by the end of the non-dom tax status. We map the full timeline, what it means for every African UHNWI with London structures, and where billionaire wealth is moving.
Four major African upstream transactions in two weeks — Oando raising $750 million, NNPC doubling Dangote's crude supply, Seplat making NGX history at N10,000, and Petrobras entering the Gulf of Guinea through Arthur Eze's Oranto — all driven by a single cause: the Iran war has repriced African oil.
The Dangote Refinery IPO is not just Africa's largest equity offering — it is the first serious attempt to prove that a continental capital market can price a $50 billion industrial asset without outsourcing to London or New York, and the test lands in ten weeks.
Nathan Kirsh was invisible to every wealth ranking until Sysco priced his grocery empire at $29.1 billion — now he is Africa's second richest person, and we break down what his emergence reveals about where the continent's real wealth lives.
South Africa faces the largest fuel price adjustment in its history on April 1 — with two weeks of reserves, 75 percent diesel import dependence, and farmers at 20 percent allocations, we break down who is exposed and what comes next.
South Africa, Ghana and Kenya are lining up for fuel from Dangote's refinery as the Hormuz crisis enters its fourth week — we break down what this means for African energy trade, the IPO, and who holds the pricing power.
Forbes says Africa's 23 billionaires are worth a record $126.7 billion — but the list was frozen on March 1, the day before the war began, and sixteen days later, those fortunes are splitting fast.
The Strait of Hormuz is closed, Brent is above $85, and Africa's energy map is splitting into winners and losers — we break down who gains, who bleeds, and what Dangote's stress test reveals.