Daily News on African Billionaires and UHNWIs

The sale of Morocco's second-largest flour miller to Chakib Alj is back on after the buyer, the seller and the bank that had won a court judgment against the company reached an agreement, according to Africa Intelligence.

The deal had stalled since May, when the Casablanca commercial court ruled in favour of Crédit Agricole du Maroc against three companies inside Yariv ...

Shares in BOC Kenya have more than doubled since a takeover bid by Carbacid Investments was abandoned, delivering a substantial gain to businessman Ngugi Kiuna, who opposed the offer on the grounds that it undervalued the company.

The industrial and medical gases maker closed at an average of $1.35 (174.5 shillings) on Sunday and touched $1.35 (175 shillings) during the...

A trust connected to the founding family of Famous Brands sold 34,067 shares in the restaurant group this month, in three separate transactions worth a combined $129,000 (2.1 million rand).

The Panis Trust made the disposals between July 2 and July 6, according to filings with the Johannesburg Stock Exchange. Nicolaos Halamandaris, a non-executive director of Famous Bra...

Elon Musk has lost more than half a trillion dollars in under a month.

The South African-born billionaire's net worth fell below $900 billion on Monday, landing at $879.3 billion after another slide in SpaceX shares stripped $37.9 billion from his fortune in a single session. On June 16 he was worth $1.45 trillion. He is no longer a trillionaire.

SpaceX did the da...

Femi Otedola is writing a second book, a follow-up to the memoir that has collected two international prizes since its release last year.

The Nigerian billionaire disclosed the project on X on Monday, posting from Geneva. "This sunny afternoon today in Geneva, taking a ride after a busy morning writing a few pages of my next book, Making It Bigger," he wrote, alongside ...