Power & Wealth

Governments want capital, skills and global networks. Diaspora communities want something in return: citizenship, political voice, investment protection and institutions they can trust. African governments have spent years asking their diasporas to stay connected. Increasingly, they are asking for something more specific. In August, Nigeria told citizens abroad that remittances should become the “floor” of.

The South African billionaire’s family controls more than half of Richemont’s voting rights, while his wealth extends across luxury, healthcare and investments. Johann Rupert crossed the $20 billion mark on the Bloomberg Billionaires Index in June 2026, becoming the second African after Aliko Dangote to reach that level on the ranking. The figure has moved.

Forbes counted 23 African billionaires in its 2026 annual ranking, with combined wealth of $126.7 billion. Ten of them accounted for $100.2 billion. That puts 79% of the billionaire wealth measured by Forbes in the hands of the top 10. All 10 come from three countries: Nigeria, South Africa and Egypt. Nigeria’s three members of.

Satellite internet in Africa has become the most contested technology market on earth, and in 2026, there is a new player on the market. Amazon has secured an operating licence in Nigeria for Amazon Leo, its low-Earth orbit broadband service, placing it in direct competition with Elon Musk’s Starlink. At the same time, Meta and.

The Alliance of Sahel States, a defense pact and confederation formed by Burkina Faso, Mali, and Niger, recently sent one of its most direct messages yet to the President Donald Trump administration – we are open to doing business with you, but on our terms. Mali’s ambassador to the United States, Sékou Berthe, on March.

Zimbabwe lithium processing has reached a turning point. The government has banned raw ore exports, forced mining companies to refine the mineral on home soil, and positioned the country as one of the most important lithium producers outside Australia and Latin America. On paper, that is exactly the kind of industrial policy Africa has needed.

Canada’s Lucara Diamond has recovered a 36.92-carat blue diamond from stockpiled ore at its Karowe mine in Botswana, one of the rarest gemstone discoveries on the continent in years. Classified as a Type IIb diamond, the stone gets its blue colour from traces of boron, placing it among the most valuable gems on earth. What.

Nigeria and the UK have agreed to a £746 million ($990 million) export finance deal to redevelop the Lagos Port Complex and TinCan Island Port Complex, two ports that together handle more than 70 per cent of Nigeria’s cargo trade, Reuters reports. The deal was signed during President Bola Tinubu‘s state visit to Britain, and.

Rich Sparkle said it bought Lame’s company in January. A later SEC filing still described the acquisition as conditional, while the buyer’s stock lost more than 90% from its peak. In January, headlines said Khaby Lame had sold his company for $975 million. That description left out two important details. Lame was not receiving $975.

BUA Foods Plc, the consumer staples giant controlled by billionaire Abdul Samad Rabiu, posted a sharp rise in earnings for the year ended Dec. 31, 2025, as Nigerians’ demand for everyday food items pushed revenue higher despite inflationary pressure. The company’s unaudited financial statements show profit after tax of ₦507.7 billion (about $366.6 million), nearly.