Nigerian lawmaker who sought to extort billionaire Femi Otedola bags seven years in prison
Farouk Lawan sought and obtained a bribe from Otedola during a probe into an alleged fuel subsidies scam.
Editorial Team
Trella completes $42-million Series-A funding round for MENAP expansion: CEO Omar Hagrass
The latest round involves $30 million in equity and $12 million in debt facilities.
Stake of Moroccan real estate tycoon Anas Sefrioui in Groupe Addoha gains $94.69 million in 21 days
The gains can be linked to a 41-percent rise in the group’s share price on the Casablanca Stock Exchange.
Abdulsamad Rabiu donates $24.3 million to support healthcare across Nigeria
The states to benefit from the latest disbursement include Ogun, Sokoto, Kwara and Edo.
Ghanaian magnate Daniel Ofori suffers losses of $370,047 from stake in CAL Bank since April 30
The decline can be attributed to the profit-taking activities of retail investors who exited the bank.
Stake of Nigeria’s second richest man Mike Adenuga in Conoil gains $2.26 million in 21 days
The gains follow a surge in the oil marketing company’s share price.
DRC moves to revoke oil exploration licenses issued to controversial Israeli billionaire Dan Gertler
The licenses allow his companies to manage two oil blocks bordering Uganda to the east.
Kenyan industrialist Manu Chandaria loses reins of Kaluworks steel and plastics producer
The company defaulted in the repayment of a $40-million debt.
Stake of Ugandan pharma tycoon Emmanuel Katongole in CiplaQCIL rises by $200,000 since April 13
The growth in his stake follows a rise in the shares of CiplaQCIL on the Uganda Stock Exchange.
Botswana real estate tycoon Gulaam Abdoola’s stake in Turnstar declines by $3.67 million
The massive drop can be linked to the decline of the company’s share price on the Botswana Stock Exchange.
Moroccan politician Adil Douiri to earn $529,545 in dividends from stake in Mutandis SCA
Mutandis is an industrial and commercial group focused on consumer goods in Morocco and Africa.
Egyptian billionaire Naguib Sawiris’ Orascom invests $12.7 million in Giza pyramids
Sawiris said Orascom has long been interested in participating in developing the area.
Kenyan businessman Benson Wairegi’s stake in Britam Holding gains $545,000
Wairegi is Kenya’s longest-serving CEO of a listed company.
Egyptian billionaire Nassef Sawiris loses $160 million in 10 days
The drop is due to a single-digit slump in the market value of his shares in Adidas and OCI N.V.
Nigerian retail tycoon Francis Atuche sentenced to jail for fraud after 10-year legal battle
His trial at the Ikeja High Court ran for 12 hours.
Malagasy mogul Hassanein Hiridjee’s Axion embarks on solar plant mega-expansion project
The move will see Axion boost the plant’s capacity to 40 MWp.