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Good morning from Billionaires.Africa.
Here is a brief on what we published yesterday.
BUA Foods is proposing one of the largest dividend payouts in Nigerian corporate history — N504 billion to shareholders after profit nearly doubled in 2025. Founder Abdul Samad Rabiu stands to pocket approximately $323 million from the distribution alone. Across the continent in Kenya, a record bank profit year is delivering Sh5.75 billion in dividends to the country's richest investors, including James Mwangi at Equity Group and the Ndegwa and Kenyatta families at NCBA.
In Madagascar, AXIAN Group's Hassanein Hiridjee has backed a new stablecoin venture, and in Nairobi, Kenya honoured 97-year-old industrialist Manu Chandaria with the National Heroes Award for a lifetime of philanthropy. Meanwhile, Sea Petroleum founder Stella Oduah walked out of an Abuja courtroom without a conviction after a plea bargain removed her from a N2.5 billion fraud case.
Top Stories
BUA Foods proposes record N504 billion dividend — Rabiu to pocket $323 million BUA Foods will pay N28 per share for 2025, more than double the N13 distributed a year earlier. Profit nearly doubled on the back of surging demand across the food and consumer sectors.
Kenya's record bank profits deliver Sh5.75 billion in dividends to elite investors James Mwangi, the Ndegwa family, the Kenyatta family, and other top shareholders are collecting record payouts after stronger earnings pushed Kenya's largest lenders to raise distributions sharply.
Deals & Tech
AXIAN's Hiridjee backs USDh stablecoin in Africa push Madagascar-based AXIAN Group, which reported $2.75 billion in turnover in 2024, has backed Egyptian fintech Hamilton Labs and its USDh stablecoin — betting that digital dollars can solve real savings and payments problems across the continent.
Balmer Healthcare and Apollo Hospitals plan Sh26 billion tertiary hospital in Eldoret Kenyan businessman David Langat's Balmer Healthcare and India's Apollo Hospitals are investing $200 million in a facility covering more than 20 specialties, aimed at keeping patients from seeking treatment abroad.
Legal
Stella Oduah discharged in N2.5 billion aviation fraud case The Sea Petroleum founder and former aviation minister walked free after a plea bargain removed her personally from the case. Two linked firms were convicted.
Zak Calisto's Cartrack fined R5 million after consumer settlement The vehicle tracking company founded by the Nasdaq-listed Karooooo billionaire must also refund over R5.1 million to customers after a National Consumer Tribunal settlement.
Philanthropy
Kenya honours Manu Chandaria, 97, with National Heroes Award The Comcraft Group patriarch was recognised for decades of giving that has placed his name on hospitals, schools and community projects across East Africa.
Amos Nzeyi donates Shs150 million to rebuild his former primary school The Ugandan businessman and PepsiCo bottler funded two classroom blocks, 12 staff housing rooms and two kitchens at Rwere Primary School in Rubanda.
This week's Investor Memo is available for Elite subscribers:
→ Investor Memo: South Africa's Fuel Reckoning — Two Weeks of Reserves and a Record Price Shock
