Wealth has a way of finding the parts of the world where money and opportunity are moving fastest.

South Africa is projected to record one of the world’s fastest-growing billionaire populations over the next five years, reinforcing its position as Africa’s biggest private wealth hub despite ongoing economic challenges. Over the past decade, we have seen more global wealth created outside traditional Western centres, especially across emerging markets in the Middle East, Asia and parts of Africa..

Whether this growing concentration of wealth eventually translates into broader economic progress at home, however, remains a familiar question for many South Africans.

According to Knight Frank’s Wealth Report 2026, South Africa ranks 13th globally among countries projected to record the fastest billionaire growth over the next five years.

The nation’s billionaire population is expected to rise by 40%, increasing from 10 in 2026 to 14 by 2031. This growth cements its position as Africa’s largest private wealth hub, currently hosting about 41,100 dollar millionaires, the highest concentration on the continent.

Globally, wealth creation is shifting outside traditional Western hubs, with Saudi Arabia projected to lead global billionaire growth through 2031 due to massive investment programmes and industrial expansion. Read more…

🇹🇿 Tanzania weighs takeover of billionaire Mohammed Dewji’s over 2,000-hectare idle tea estates

The Tanzanian government is negotiating with MeTL over more than 2,000 hectares of dormant tea estates in Mbeya. Authorities are considering repossessing the land and redistributing it to cooperatives and smallholder farmers.

Although MeTL secured a $24.6 million loan to rehabilitate the estates, the government remains unsatisfied with the progress on reviving production. Read more…

🇪🇹 Ethiopia warns Egypt cannot block its push for Red Sea access as Strait of Hormuz energy supply disruptions hit economy

Ethiopia has accused Egypt of attempting to block its efforts to secure Red Sea access, worsening long-standing tensions over the Nile River.

The push for maritime access has become urgent as Strait of Hormuz disruptions stranded 180,000 metric tonnes of fuel bound for landlocked Ethiopia, forcing authorities to buy expensive emergency spot market supplies. Read more…

🇿🇦 Qatari and U.S. oil giants turn to Africa’s second-largest gas producer to ship Cyprus offshore gas to Europe

QatarEnergy and ExxonMobil signed an agreement with Egypt to liquefy and export Cypriot offshore gas discoveries to Europe. Because Cyprus lacks its own LNG infrastructure, the gas will travel via subsea pipelines to Egyptian terminals.

This deal solidifies Egypt's strategic role as a primary energy gateway connecting the Mediterranean to European markets. Read more…

Five African countries feature in global top 10 World Bank borrowers, collectively owing $67.8bn in concessional debt

New data from the World Bank's International Development Association (IDA) reveals that five African nations are among the world's top 10 borrowers. Together, they owe $67.8 billion in concessional debt, reflecting their growth potential and reliance on development finance.

Source: World Bank

🇬🇭 Ghana rules out automatic lease renewal for South Africa's Gold Fields Tarkwa mine as 2027 expiry nears

Ghana will not automatically renew the mining lease for South Africa's Gold Fields Tarkwa mine ahead of its 2027 expiry.

To secure an extension, the company must submit detailed development plans for technical and ministerial review, proving a strong commitment to local value creation and technology transfer. This stricter approach follows the rejection of Gold Fields' Damang lease in 2025. Read more…

🇨🇮 Italian oil giant Eni pushes to fast-track $4 billion offshore expansion in Ivory Coast

Italian oil giant Eni is pushing to fast-track a $4 billion offshore expansion project in Ivory Coast.

The massive infrastructure acceleration is aimed at rapidly boosting production capacity in the West African nation. This multi-billion dollar investment positions Ivory Coast to significantly scale up its domestic oil and gas output, reshaping its role in the global energy market. Read more…

ECOWAS stands for the Economic Community of West African States. Established in 1975 by the Treaty of Lagos, this regional political and economic union was created to promote economic integration, free movement, and collective self-sufficiency across its West African member nations.