Transcorp Power to boost Nigeria’s national grid by 150 megawatts
This is part of a broader strategy to combat the ongoing energy shortages that have long plagued the nation.
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Hisham Talaat Moustafa’s stake in TMG Holding declines by $105.5 million
This decline follows a previous gain of $89.6 million recorded between Sept. 16 and 29, when Moustafa’s stake rose from $1.25 billion to $1.33 billion.
MRS Oil Nigeria reports $151.4-million revenue in 9M 2024
Revenue for the first nine months of 2024 climbed to N248.71 billion ($151.42 million), up from N100.88 billion ($61.42 million) in the prior-year period.
Access Bank gains approval to acquire National Bank of Kenya in $100-million deal
This move is designed to enhance Access Bank's footprint in Kenya’s burgeoning financial market, reflecting the institution's commitment to expanding its presence in East Africa.
NCBA and Sanlam join forces to expand Kenya's life insurance with digital funeral and education plans
NCBA Group and Sanlam Life Insurance have launched new digital life insurance plans to improve access to affordable funeral and education coverage in Kenya.
Capitec restricts crypto transfers, pushes pricier Capitec Pay as fraud measure
Capitec Bank has blocked electronic funds transfers to cryptocurrency exchanges, urging clients to use its costlier Capitec Pay service instead, citing fraud prevention.
Airtel Africa extends tower lease agreements with American Tower Corp. for $1.2 billion
Telecom giant aims to stabilize costs and enhance sustainability in key African markets.
Adaora Umeoji, first woman to lead Zenith Bank, holds shares worth $2.2 million
Umeoji holds 91,710,123 shares in Zenith Bank, including 90 million directly and 1,710,123 through Palais Vendome Limited.
Access Bank plans dollar-denominated securities sale to fuel expansion, targets entry into U.S. market by 2026
Bank eyes African dominance and global market growth amid international bank pullbacks.
Glo Mobile loses 43 million subscribers as Nigeria’s telecom market faces a 69-percent subscriber drop
Regulatory actions and stricter SIM identification requirements reshape Nigeria's telecom landscape.
Vodacom faces regulatory setback in $790-million Maziv acquisition
Vodacom's Maziv deal blocked by Competition Tribunal. Regulatory hurdles stifle expansion plans.
Yasseen Mansour’s stake in Palm Hills tops $35 million
Mansour, who serves as chairman of Palm Hills Developments, holds a 10.83 percent stake in the company, representing 318,574,726 shares.
Moniepoint secures $110 million in Series-C round backed by Google
This funding will elevate the company’s digital payment and banking capabilities, reinforcing its commitment to revolutionizing financial services across Africa.
Jim Ovia gains $7.1 million from Zenith Bank stake
Ovia, the founder and chairman of Zenith Bank, holds a controlling stake of 16.2 percent — equivalent to 5,082,800,739 shares.
Femi Otedola leads FBN Holdings to $371.9 million profit in 9M 2024
FBN Holdings posts robust financial results as profit surges 125 percent under Femi Otedola’s leadership.
Pick 'n Pay announces exit from Nigeria amid financial losses
South African retailer offloads stake amid challenging market conditions.