Billionaire Femi Otedola's First HoldCo to pay out 60% of profit as dividends
First HoldCo will pay out at least 60% of profit as dividends, a policy worth roughly ₦83 billion to chairman Femi Otedola on half-year earnings.
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Nigerian billionaire Mike Adenuga's Conoil lifts half-year profit 472% as margins widen
Conoil lifted half-year profit 472% to ₦5.15 billion, yet paid ₦8.29 billion in finance costs, more than the company earned before tax.
Nigerian billionaire Abdul Samad Rabiu's BUA Foods lifts half-year profit 12% to $210 million
BUA Foods lifted half-year profit 12.4% to ₦292.27 billion as gross margins widened sharply, taking Abdul Samad Rabiu's stake to $11.26 billion.
Nigerian billionaire Victor Odili to pocket $19.9 million MTN interim dividend
Victor Odili's 5.08% stake in MTN Nigeria will earn ₦27.69 billion from the ₦26 interim dividend, on a holding now worth about $657 million.
Pepkor's CEO Pieter Erasmus will hold a $169 million stake in the fintech he oversees
Pepkor CEO Pieter Erasmus will hold an indirect 13.2% of the $1.28 billion fintech his company is creating, a stake worth about $169 million.
Billionaires Tony Elumelu, Samuel Dossou-Aworet and Austin Avuru to pocket $30 million Seplat dividend
Seplat's 12-cent dividend delivers $14.4 million to Tony Elumelu's Heirs, $9.7 million to Petrolin and $6 million to Austin Avuru. GHOST
Billionaire Femi Otedola spends $160 million again on First HoldCo shares, lifting stake to $1.07 billion
Femi Otedola has spent another $160 million, on 1.78 billion additional First HoldCo shares, lifting his stake to $1.08 billion.
Oprah Winfrey is handing her $40 million South African school back to the government
Oprah Winfrey will wind down her Leadership Academy for Girls at the end of 2027 and hand the campus to South Africa's Gauteng education department.
Patrice Motsepe's ARM has lost 21% this year as analysts question his platinum bet
ARM has fallen 21% this year while Anglo American and BHP gained, as analysts question the R15.2 billion revival of the Bokoni platinum mine.
Congolese billionaire Paul Obambi wins tin permit as Congo's extractive output declines
Paul Obambi has won a cassiterite prospecting licence over 253 square kilometres in Kouilou, diversifying beyond the iron ore project he runs at Mayoko.
Egyptian tycoon Hend El Sherbini takes majority control of IDH despite board rejection
Hend El Sherbini's offer for Integrated Diagnostics has gone unconditional at 56.6%, days after independent directors told shareholders the price undervalued the company.
Nigerian billionaire Rasheed Sarumi's Presco sees profit falls 20% to $23.8 million in second quarter
Presco's second-quarter profit fell 20% to ₦33 billion as revenue declined, with earnings per share dropping to ₦28 from ₦41 a year earlier.
Nigerian billionaire Aliko Dangote's cement sales rose 22% last quarter, profit just 4%
Dangote Cement lifted half-year profit 24% to ₦640.2 billion, but second-quarter profit growth slowed to 4.4% even as revenue rose 22.2%.
Turkish billionaire Fuat Tosyalı's Algerian cold rolling mill produces its first steel
Fuat Tosyalı's Algerian subsidiary has rolled its first cold-rolled steel at Béthioua, completing the largest Turkish industrial investment outside Turkey.
Ugandan tycoon Sikander Lalani fled genocide in 1994 and built a $255 million steelmaker
Sikander Lalani abandoned his Kigali roofing factory when genocide broke out in 1994, rebuilt in Uganda, and now pays the state $51 million in tax.
Billionaire Beyoncé takes full ownership of SirDavis whisky as LVMH sells out of the brand
Moët Hennessy has sold its stake in SirDavis American Whisky to Beyoncé, handing her full ownership two years after they launched it together.