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Tony Elumelu's UBA posts N405 billion profit in 2025 but earnings drop 47% as FX trading gains disappear
UBA posted N405 billion profit in 2025, down 47% from N767 billion in 2024, as the FX trading gains that padded last year's earnings reversed sharply.
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Tony Elumelu's UBA posts N405 billion profit in 2025 but earnings drop 47% as FX trading gains disappear
UBA posted N405 billion profit in 2025, down 47% from N767 billion in 2024, as the FX trading gains that padded last year's earnings reversed sharply.
Nigerian businessman Tunde Ayeni arrested by EFCC over alleged diversion of N36.5 billion and $30 million from Polaris Bank
The EFCC has arrested former Skye Bank chairman Tunde Ayeni in Abuja over the alleged diversion of N36.5 billion and $30 million from Polaris Bank through companies linked to him.
Nigerian billionaire Dahiru Mangal's cement company earns 3 ISO certifications less than 2 years after its $1.5 billion plant in Kogi State began operations
Mangal Industries has earned 3 ISO certifications for quality, environment and worker safety less than 2 years after its $1.5 billion cement plant in Kogi State began production.
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Exclusive Briefing: Where Does $17 Billion Go? The Kirsh Repatriation Question and What It Means for Southern African Capital Markets
Nathan Kirsh is about to become the most liquid billionaire Africa has ever produced. The $29.1 billion Sysco deal will generate approximately $17 billion in personal proceeds — and the question every private bank in southern Africa is asking is where it goes.
Deep-Dive Report: The Capital Markets Moment — How Nigeria’s FTSE Upgrade, the Dangote IPO, and Seplat’s N10,000 Are Reshaping African Equity Markets
The FTSE upgrade, the Dangote IPO, Seplat's N10,000 milestone, and a $4.61 trillion banking recapitalization all landed in the same month — we map how the infrastructure being built now will outlast any single listing.
Investor Memo: The Hormuz Dividend — How the Iran War Is Repricing Every African Upstream Asset in Real Time
Four major African upstream transactions in two weeks — Oando raising $750 million, NNPC doubling Dangote's crude supply, Seplat making NGX history at N10,000, and Petrobras entering the Gulf of Guinea through Arthur Eze's Oranto — all driven by a single cause: the Iran war has repriced African oil.
Billionaire Naguib Sawiris pours another $400 million into gold as geopolitical tensions push him to cut Egypt real estate
Naguib Sawiris has added $400 million to his gold investments since the start of the current geopolitical tensions, while cutting Egypt real estate and expanding in the UAE.
Egyptian billionaire Nassef Sawiris formally closes his London family office, completing a UK exit triggered by the end of the non-dom tax status
Nassef Sawiris has formally closed his London family office NNS Advisers, completing a multi-step UK departure triggered by the end of the non-dom tax regime.
Moroccan billionaire Othman Benjelloun opens Morocco's tallest tower in Sale after 8 years of construction
Morocco's tallest building, a $700 million rocket-shaped skyscraper backed by billionaire Othman Benjelloun, has opened in Sale after 8 years of construction.
Egyptian billionaire Samih Sawiris teams up with Emirati investors to deploy $235 million into a coastal tourism megaproject in Morocco's Essaouira
Egyptian billionaire Samih Sawiris has joined UAE-based Al Nowais Investments and Egypt's Sunrise Group to deploy $235 million into a coastal tourism project in Essaouira, Morocco.
Egyptian billionaire Hisham Talaat Moustafa's TMG unveils a $27 billion AI-powered city in east Cairo with underground roads and 165 towers
Egypt's Talaat Moustafa Group has unveiled The Spine, a $27 billion mixed-use city east of Cairo billed as the first AI-powered cognitive city in the Middle East.
Egypt's richest man Nassef Sawiris lifts Orascom Construction stake to 43.39%
Nassef Sawiris has increased his total stake in Orascom Construction to 43.39% after his NNS City family office acquired approximately 1.13 million additional shares in the company.
Algerian tycoon Mahieddine Tahkout faces fresh corruption allegations over billions in diverted funds and international money laundering
Algerian businessman Mahieddine Tahkout faces fresh corruption allegations over diverted funds and international money laundering in a widening legal case.
Hassan Allam acquires MetiPro from Metito to build a scaled water infrastructure platform across the Middle East and Africa
Hassan Allam Holding has agreed to acquire MetiPro, the engineering and construction arm of water management group Metito, in an undisclosed deal.
Tony Elumelu's UBA posts N405 billion profit in 2025 but earnings drop 47% as FX trading gains disappear
UBA posted N405 billion profit in 2025, down 47% from N767 billion in 2024, as the FX trading gains that padded last year's earnings reversed sharply.
Nigerian businessman Tunde Ayeni arrested by EFCC over alleged diversion of N36.5 billion and $30 million from Polaris Bank
The EFCC has arrested former Skye Bank chairman Tunde Ayeni in Abuja over the alleged diversion of N36.5 billion and $30 million from Polaris Bank through companies linked to him.
Nigerian billionaire Dahiru Mangal's cement company earns 3 ISO certifications less than 2 years after its $1.5 billion plant in Kogi State began operations
Mangal Industries has earned 3 ISO certifications for quality, environment and worker safety less than 2 years after its $1.5 billion cement plant in Kogi State began production.
Indian billionaire Mukesh Ambani's Africa 5G bet is live in Ghana but retail consumers still cannot access it as regulatory disputes linger
Mukesh Ambani's Reliance unit Radisys is powering Ghana's first 5G backbone, now commercially live but entangled in licensing debt and government scepticism.
Nigerian Billionaire Deji Adeleke donates N500 million to launch Osun Security Trust Fund
Billionaire Deji Adeleke, father of music star Davido, has donated N500 million to the Osun State Security Trust Fund launched by his brother Ademola.
Nigerian oil heirs Ameena and Zara Indimi accuse Stanbic IBTC of foul play in $30 million Oriental Energy judgment fight
Twin sisters Ameena and Zara Indimi are accusing Stanbic IBTC of failing to freeze $30 million in Oriental Energy accounts, raising contempt of court allegations against multiple Nigerian banks.
Pan-African billionaire Benedict Peters sends 3 sensor-equipped aircraft to Madagascar to map the island's untapped mineral wealth under a deal with the country's government
Pan-African billionaire Benedict Peters is deploying 3 sensor-equipped aircraft to map Madagascar's mineral resources for free under a government deal signed in December 2025.
FirstHoldCo storms ahead of rivals, surging 32% in a month to become Nigeria's best-performing tier-one bank stock ahead of Q1 results
FirstHoldCo has rallied 32% in the past month to become the best-performing tier-one bank stock on Nigeria's exchange, outpacing GTCO, Zenith Bank, Access Holdings and UBA.
Equity CEO James Mwangi warns Africa faces a food and economic crisis within 3 years as fuel shocks, fertiliser disruption and debt stress converge
Equity Group CEO James Mwangi warned at the IMF Spring Meetings that Africa faces a serious food and economic crisis within 3 years as converging shocks bite.
Africa's richest man Aliko Dangote offers to build East Africa a refinery as big as Lagos
Aliko Dangote has offered to build a refinery in Tanzania matching his Lagos plant's scale, with Kenya and Uganda backing the plan at a Nairobi infrastructure summit.
Meet Godfrey Kirumira: the boy who sold cigarettes at 12 and built one of Uganda's biggest business empires
Godfrey Kirumira started trading cigarettes at 12 on the streets of Kampala. Today he chairs the club of Uganda's richest tycoons.
Uganda's richest man appoints daughter to council seat of Victoria University following his son's death
Victoria University has appointed Meera Ruparelia to its University Council, replacing her late brother Rajiv Ruparelia who died in a road accident in May 2025.
Kenyan billionaire Mohamed Jaffer allegedly manufactured a national petroleum crisis to pocket millions of dollars
Kenyan Senate investigation has named Mombasa tycoon Mohamed Jaffer and 2 state officials in an alleged scheme to manufacture the country's worst fuel crisis in 3 years.
Malagasy billionaire Hassanein Hiridjee's AXIAN Telecom revenue hits $1.69 billion in 2025 results
AXIAN Telecom posted full-year 2025 revenue of $1.69 billion, up 20.2%, as acquisitions and mobile data growth accelerated across its African markets.
Tanzanian billionaire Rostam Aziz's Taifa Gas takes stake in Songo Songo as Orca Energy exits Tanzania
Rostam Aziz's Taifa Gas Tanzania has agreed to acquire a 49 percent stake in the Songo Songo gas field as Canada's Orca Energy exits for $10.
61-year old South African businessman Adrian Gore ran the Boston Marathon and wrote a new book while leading Discovery
Discovery co-founder and CEO Adrian Gore ran the Boston Marathon in 3:31:16 at age 61 and finished writing his upcoming book The Four Principles.
Elon Musk just told 4 million Tesla owners their cars will never fully drive themselves without a hardware swap
Elon Musk has confirmed that roughly 4 million Tesla vehicles with Hardware 3 cannot achieve unsupervised Full Self-Driving, reversing years of promises that a software update would be enough.
Johann Rupert just completed a six-year exit from South Africa's biggest bank. Here is where he is putting the money
Johann Rupert's Remgro has sold its final FirstRand shares for R3.6 billion, completing a six-year exit from South Africa's biggest bank and redirecting capital toward private assets.
South African tycoon Tokyo Sexwale's name enters the race to succeed Cyril Ramaphosa as ANC president
A KwaZulu-Natal lobby group has entered Tokyo Sexwale's name in the race to succeed Cyril Ramaphosa as ANC president ahead of the party's 2027 elective conference.
South African billionaire Christo Wiese’s stake in Blue Ribbon owner diluted after R6bn RFG deal
South African billionaire Christo Wiese has seen his stake in Premier Group, owner of Blue Ribbon bread, reduced after the company’s nearly R6 billion acquisition of RFG Holdings.
Johann Rupert's Remgro trades at a R38 billion discount and investors are growing impatient
Johann Rupert's Remgro is trading at a nearly 46% discount to its intrinsic net asset value, a R38 billion gap that investors want closed.
Patrice Motsepe's ARM hauls Durban-based African Rainbow Star before tribunal over trademark infringement
Patrice Motsepe's African Rainbow Minerals has hauled a Durban-based company before the Companies Tribunal, accusing it of infringing several of its registered trademarks.
Tycoon Gulaam Abdoola's Turnstar flags 22 percent profit dip on weaker Botswana property values
Gulaam Abdoola's Turnstar Holdings has warned of a 22 percent drop in pretax profit to P146.6 million as weaker Botswana property valuations hit the portfolio.
Saudi-Ethiopian Mohammed Al-Amoudi is worth $9 billion on Bloomberg but missing from the Forbes 2026 billionaires list and here is why
Mohammed Al-Amoudi is worth $9.12 billion on Bloomberg but does not appear on the Forbes 2026 billionaires list. Here is why.
How Djiboutian tycoon Abdourahman Boreh helped Dubai build a port empire in the Horn of Africa, then became its most inconvenient witness
Abdourahman Boreh brokered DP World's entry into Djibouti, collected fees from both sides, then fled into exile as the whole deal unravelled.
Dahabshiil founder Abdirashid Duale pledges $150,000 as drought deepens in northern Somalia
Dahabshiil pledged $150,000 for drought relief in northern Somalia, with founder Abdirashid Duale urging faster action as shortages spread.
Ethiopia’s richest man Mohammed Al-Amoudi brings Carrefour into Ethiopia
Ethiopia’s richest man, Mohammed Al-Amoudi, brings Carrefour to 13 Midroc stores, marking the retailer’s first physical presence in Ethiopia.
Ethiopia’s richest man Mohammed Al-Amoudi sees wealth rebound past $8.1 billion
Mohammed Al-Amoudi’s net worth rebounds to more than $8.1 billion after a $2.42 billion gain tied to his stake in Preem.
Somali e-visa controversy: Ismail Ahmed points to Premier Bank involvement
Ismail Ahmed claims Premier Bank helped design Somalia’s e-visa system and benefits from visa fees through Empire Tech Solutions.
Ahmed Osman Guelleh, one of Djibouti's richest men, recalibrates for a tougher market
Ahmed Osman Guelleh built a logistics and beverage empire around Djibouti’s ports and Somaliland’s Coca-Cola plant. Now competition is testing his hold.
Somali businessman Abdiweli Hassan to invest $503 million in Kenya’s Tatu City
Somali businessman Abdiweli Hassan plans a $503 million mixed-use project at Kenya’s Tatu City, expanding his footprint from retail into urban development.
Latest Posts
African Wealth Briefing — Sat., April 25, 2026
Nassef Sawiris shuts his London family office and completes a UK exit triggered by the end of the non-dom tax status, Tokyo Sexwale enters the ANC succession race, the EFCC arrests Tunde Ayeni over N36.5 billion in alleged diversions, and UBA's profit drops 47% as FX trading gains evaporate.
Tony Elumelu's UBA posts N405 billion profit in 2025 but earnings drop 47% as FX trading gains disappear
UBA posted N405 billion profit in 2025, down 47% from N767 billion in 2024, as the FX trading gains that padded last year's earnings reversed sharply.
Nigerian businessman Tunde Ayeni arrested by EFCC over alleged diversion of N36.5 billion and $30 million from Polaris Bank
The EFCC has arrested former Skye Bank chairman Tunde Ayeni in Abuja over the alleged diversion of N36.5 billion and $30 million from Polaris Bank through companies linked to him.
Nigerian billionaire Dahiru Mangal's cement company earns 3 ISO certifications less than 2 years after its $1.5 billion plant in Kogi State began operations
Mangal Industries has earned 3 ISO certifications for quality, environment and worker safety less than 2 years after its $1.5 billion cement plant in Kogi State began production.
Indian billionaire Mukesh Ambani's Africa 5G bet is live in Ghana but retail consumers still cannot access it as regulatory disputes linger
Mukesh Ambani's Reliance unit Radisys is powering Ghana's first 5G backbone, now commercially live but entangled in licensing debt and government scepticism.
Equity CEO James Mwangi warns Africa faces a food and economic crisis within 3 years as fuel shocks, fertiliser disruption and debt stress converge
Equity Group CEO James Mwangi warned at the IMF Spring Meetings that Africa faces a serious food and economic crisis within 3 years as converging shocks bite.
Billionaire Naguib Sawiris pours another $400 million into gold as geopolitical tensions push him to cut Egypt real estate
Naguib Sawiris has added $400 million to his gold investments since the start of the current geopolitical tensions, while cutting Egypt real estate and expanding in the UAE.
61-year old South African businessman Adrian Gore ran the Boston Marathon and wrote a new book while leading Discovery
Discovery co-founder and CEO Adrian Gore ran the Boston Marathon in 3:31:16 at age 61 and finished writing his upcoming book The Four Principles.
Elon Musk just told 4 million Tesla owners their cars will never fully drive themselves without a hardware swap
Elon Musk has confirmed that roughly 4 million Tesla vehicles with Hardware 3 cannot achieve unsupervised Full Self-Driving, reversing years of promises that a software update would be enough.
Johann Rupert just completed a six-year exit from South Africa's biggest bank. Here is where he is putting the money
Johann Rupert's Remgro has sold its final FirstRand shares for R3.6 billion, completing a six-year exit from South Africa's biggest bank and redirecting capital toward private assets.
Nigerian Billionaire Deji Adeleke donates N500 million to launch Osun Security Trust Fund
Billionaire Deji Adeleke, father of music star Davido, has donated N500 million to the Osun State Security Trust Fund launched by his brother Ademola.
South African tycoon Tokyo Sexwale's name enters the race to succeed Cyril Ramaphosa as ANC president
A KwaZulu-Natal lobby group has entered Tokyo Sexwale's name in the race to succeed Cyril Ramaphosa as ANC president ahead of the party's 2027 elective conference.
Egyptian billionaire Nassef Sawiris formally closes his London family office, completing a UK exit triggered by the end of the non-dom tax status
Nassef Sawiris has formally closed his London family office NNS Advisers, completing a multi-step UK departure triggered by the end of the non-dom tax regime.
African Wealth Briefing — Fri., April 24, 2026
Dangote offers to build East Africa a refinery matching his Lagos plant's scale, Mansour's Palm Hills launches a city-scale luxury project on Egypt's coast, Benjelloun opens Morocco's tallest tower after eight years, and Wiese's stake in Blue Ribbon owner is diluted after a R6 billion food deal.
South African billionaire Christo Wiese’s stake in Blue Ribbon owner diluted after R6bn RFG deal
South African billionaire Christo Wiese has seen his stake in Premier Group, owner of Blue Ribbon bread, reduced after the company’s nearly R6 billion acquisition of RFG Holdings.
Moroccan billionaire Othman Benjelloun opens Morocco's tallest tower in Sale after 8 years of construction
Morocco's tallest building, a $700 million rocket-shaped skyscraper backed by billionaire Othman Benjelloun, has opened in Sale after 8 years of construction.
