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Washington is lending nearly $100 million to Ziad Dalloul's Africell — Africa's only American-owned telecom — to buy US kit instead of Huawei's. A deal that turns one operator into the front line of the US-China contest for Africa's networks. The memo on what it means.
An 81-year-old Benin-born engineer who ran Gabon's oil for 13 years quietly holds ~$1.4 billion of Nigerian oil shares — Seplat and Aradel — through Petrolin vehicles almost no one tracks. Samuel Dossou-Aworet, and the rare edge of the operator who became an owner.
Chevron agreed to sell two Angolan oil blocks to London-listed Energean for $260 million. Then Etu Energias, already a partner, used a right of first refusal to take the deal itself. A masterclass in how insiders win — and a signpost to who owns Africa's oil next.
Morocco's royal family controls ~$17.5 billion of listed companies — two-thirds of it mining — through a single vehicle, Al Mada. A study of how great fortunes are built to hold and command entire sectors, not to be counted. A look inside the structure, not the person.
A 94-year-old you have probably never heard of just crossed $20 billion. The anatomy of the quietest mega-deal in Africa's wealth history, and the lesson in the value of the unglamorous.
Mounir Nakhla plans to float only MNT-Halan's Egyptian arm in Cairo, at up to $1 billion — and keep its faster-growing Turkish, Pakistani and Gulf businesses in private hands, inside a group valued at $1.4 billion in June. The interesting part of the IPO is what he is holding back.
In 2011 Nicky Oppenheimer sold his family's 40% of De Beers to Anglo American for $5.1 billion, valuing the whole diamond company at $12.75 billion. This month Anglo agreed to sell 85% of the same company for about $1 billion.
Two importers control 98% of Kenya's cooking-gas market. In months, Rostam Aziz's $130 million Mombasa terminal becomes the third door into the country — East Africa's largest LPG store.
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.