Daily News on African Billionaires and UHNWIs

The numbers were already extraordinary. A 650,000-barrel-per-day refinery built from scratch by a private citizen in West Africa, surpassing Saudi Aramco's Abqaiq complex to become the world's largest single-train petroleum refinery. Exports of jet fuel to Europe, petrol to America, aviation fuel to Saudi Arabia. A facility that became the world's single largest jet fuel expo...

Hosken Consolidated Investments has had a good 12 months. Its share price is up roughly 25 percent over the past year, driven by a combination of a higher average crude oil price and improving fundamentals across its portfolio of subsidiaries. The discount at which its shares trade against its net asset value has narrowed from 55 percent to 48 percent. That is still a wide ga...

French billionaire Pierre-Edouard Sterin appeared before France's Senate on Thursday and made an argument that most parents would find astonishing: he wants to disinherit his five children, he wants to give all of his money to charity, and he wants French lawmakers to change the law so he can actually do it.

"I would like to give my entire estate to philanthropic causes...

Professor Anna Mokgokong's Tamasa Energy Group has signed a landmark 25-year terminal operator agreement with Transnet National Ports Authority to develop a $1.35 billion liquefied natural gas regasification facility at the Port of Ngqura in South Africa's Eastern Cape, in one of the most significant energy infrastructure deals concluded by a Black South African businesswoman...