Billionaires.Africa

Narendra Raval’s Devki Steel has applied to mine iron ore across 7,370 acres in Kenya’s Taita Taveta County, seeking to supply its $85 million processing plant near Voi. The licence is awaiting review. billionaires.africa/2026/10/… #NarendraRaval #Kenya

Hassanein Hiridjee’s AXIAN has secured €30m ($33.6m) to develop four solar plants in Benin, with a combined capacity of 62MW. The project is expected to supply electricity to 383,000 people from 2028. billionaires.africa/2026/10/… #AXIAN #Benin

Dangote’s fortune hit $55.4bn, BUA Cement profit rose 60%, and Seplat posted a 174% profit jump. Across Africa, major developments in banking, aviation, manufacturing and energy shaped this week’s business headlines. billionaires.africa/2026/10/… #AfricanBusiness

Ivan Saltzman-founded Dis-Chem reported a 13% drop in half-year headline earnings to R550.1m, despite revenue rising 8% to R23bn. Higher operating costs and technology investments weighed on profitability. billionaires.africa/2026/10/… #DisChem #IvanSaltzman

Wale Babalakin’s Bi-Courtney is preparing Lagos’ MMA2 terminal for regional flights across Africa after a settlement with the Federal Government ended a nearly 20-year dispute. Regulatory approvals are still pending. billionaires.africa/2026/10/… #WaleBabalakin #Aviation

Patrice Motsepe earned R28.53m ($1.72m) for his final 7½ months as ARM executive chairman before stepping down in February 2026. He remains non-executive chairman and holds about 43% of the mining group. billionaires.africa/2026/10/… #PatriceMotsepe #ARM

Idrissa Nassa’s Coris Bank has launched its Baraka Islamic banking service in Chad, offering interest-free savings, financing and investment products. It marks the group’s first Islamic banking operation in Central Africa. billionaires.africa/2026/10/… #CorisBank #IdrissaNassa

Rasheed Sarumi-controlled Presco raised nine-month profit before tax 8.5% to ₦151.5bn ($111m). The palm oil producer also cut borrowings 57% to ₦137.1bn and reduced finance costs 34.5%. billionaires.africa/2026/10/… #Presco #RasheedSarumi

US imports of Nigerian crude fell 57.8% to 14.01 million barrels in January–August 2026 as Dangote’s refinery increased its intake of local oil, receiving a record 565,000 barrels per day in August. billionaires.africa/2026/10/… #DangoteRefinery #Nigeria

Joseph Siaw Agyepong’s Jospong Group has signed a $46 million waste management deal in The Gambia. The project will cover Banjul, Kanifing and Brikama, including waste treatment, recycling and dumpsite closures. billionaires.africa/2026/10/… #JospongGroup #TheGambia

Nonso Okpala’s VFD Group nearly doubled nine-month profit to ₦13bn as gross earnings rose 34.8% to ₦81.88bn. Investment income surged 52.6%, while finance costs climbed 35.7%. billionaires.africa/2026/10/… #VFDGroup #NonsoOkpala

Aliko Dangote’s fortune has hit $55.4 billion as Dangote Cement shares surged 5.8% to ₦1,420, pushing its market value to ₦23.96 trillion and making it Nigeria’s most valuable listed company. billionaires.africa/2026/10/… #AlikoDangote

Patrice Motsepe-backed GoTyme Bank has surpassed 13 million South African customers. Loans rose 126% to R5.08bn, while deposits grew 27%. The bank plans to launch a credit card in 2027. billionaires.africa/2026/10/… #GoTymeBank

Abdul Samad Rabiu’s BUA Cement lifted nine-month profit 60% to ₦463.1 billion ($339 million), as revenue rose 26.5% to ₦1.09 trillion. billionaires.africa/2026/10/… #BUACement #AbdulSamadRabiu

Jaswant Rai’s West Kenya Sugar plans a $32 million (KSh4.2 billion) factory in Nandi County, with an initial capacity to process 1,500 tonnes of sugarcane daily and provision to double output to 3,000 tonnes. billionaires.africa/2026/10/… #JaswantRai #Kenya

Hassanein Hiridjee’s AXIAN Energy has joined Guinea’s 50MW Khoumagueli solar project, with construction targeted for 2027. The project has a 25-year power purchase agreement with the state utility. billionaires.africa/2026/10/… #AXIANEnergy #Guinea

Tshepo Mahloele’s Harith has secured conditional approval to acquire South Africa’s FlySafair in a R7 billion ($420 million) deal. The airline will retain its management and operate independently. billionaires.africa/2026/10/… #FlySafair

Seplat Energy, in which Tony Elumelu’s companies hold 21.07%, reported a 174% rise in nine-month profit to $260.2 million. Revenue climbed 27% to $2.76 billion as net debt fell 65%. billionaires.africa/2026/10/… #SeplatEnergy #TonyElumelu

Fidelis Ayebae’s Fidson Healthcare lifted nine-month profit 47% to ₦11.74 billion ($8.8 million), as revenue grew 21% and foreign exchange losses fell from ₦4.16 billion to ₦104.28 million. billionaires.africa/2026/10/… #FidsonHealthcare #FidelisAyebae

A Kenyan court has reopened the fight over late tycoon Stanley Githunguri’s $14 million estate, overturning an injunction protecting family properties, including Lilian Towers and Ridgeways Mall. The case will be heard afresh. billionaires.africa/2026/10/… #StanleyGithunguri #Kenya