Nigerian billionaire and investor Tony Elumelu, through his energy company Heirs Energies, has acquired a 20 percent equity stake in Seplat Energy, Nigeria’s largest independent oil and gas explorer, in a transaction valued at approximately $500 million. The stake was…

South Africa’s billionaires recorded a remarkable financial windfall in 2025, collectively earning an estimated R382 million every day, even as millions of citizens battled rising living costs and economic pressure. According to Forbes billionaire tracking, seven of the country’s wealthiest…

Chinese industrial expansion into Africa’s cement sector is gathering pace, with West China Cement moving to acquire South Africa’s major cement producer, AfriSam, in a proposed deal that signals deepening Chinese interest in the continent’s infrastructure value chain. Details of…

The African Export-Import Bank (Afreximbank) has deepened its support for Nigeria’s energy sector with a landmark US$750 million financing facility for Heirs Energies Limited, a move set to significantly boost the country’s domestic oil and gas capacity amid rising energy…