Skip to content
Femi Otedola is a Forbes-listed billionaire and the author of one of the boldest bets in Nigerian banking. Yesterday his First HoldCo stake hit a record $530 million. Inside the holdings, the cash flows and the pivot behind the number.
Femi Otedola's First HoldCo stake hits a record $530 million as the bank's shares surge. And Dangote's $17 billion Lamu refinery draws its first organised opposition, with Greenpeace demanding a halt.
SpaceX shares fell below their $135 IPO price for the first time on Wednesday, leaving investors in Elon Musk's rocket company with paper losses.
Engineers and Planners, owned by Ghanaian billionaire Ibrahim Mahama, has been accused of industrial espionage to seize a $250m gold project. It denies wrongdoing.
Oilserv, owned by Nigerian billionaire Emeka Okwuosa, has completed construction of the 303-kilometre AKK gas pipeline, a centrepiece of Nigeria's Decade of Gas.
South Africa's sports minister has publicly backed billionaire Patrice Motsepe to succeed Gianni Infantino as FIFA president whenever the Swiss administrator steps down.
Condor, the flagship of Algerian billionaire Abderrahmane Benhamadi's family group, is expanding exports across Africa and into Europe as demand for its air conditioners climbs.
The FDA has accepted a narcolepsy drug from Axsome Therapeutics, the biotech built by Haitian-born billionaire Herriot Tabuteau, with a decision due in May 2027.
South Africa's PIC has suspended its CEO and drawn a regulator's probe over a Lanseria airport deal linked to billionaire Tshepo Mahloele's Harith.
PetroNor has appointed Talanger to sell its stake in Nigeria's Aje oil field, unwinding its partnership with billionaire Tunde Folawiyo's Yinka Folawiyo Petroleum.
Femi Otedola's stake in First HoldCo rose to about $530 million after the Nigerian bank's shares surged 9.98% to a record close of N79.35.
Greenpeace Africa has called for a halt to Aliko Dangote's $17 billion Lamu oil refinery, warning it threatens one of East Africa's fragile ecosystems.
Aston Villa, co-owned by Egyptian billionaire Nassef Sawiris, has signed a record shirt sponsorship with Visit Rwanda worth up to £20m a year.
Egypt's freeze on new fintech lending licences and tighter oversight of consumer credit entrench incumbents, strengthening Mounir Nakhla's MNT-Halan most.
Malawi's first billionaire, Thomson Mpinganjira, says he built the country's only radiotherapy cancer hospital to spare patients costly treatment abroad, not to profit.
A low-ball buyout he fought collapsed — and Ngugi Kiuna's stake soared instead. A stalled Moroccan takeover is revived. And results season quietly rewards the patient.