Nigerian billionaire Abdul Samad Rabiu gifts $4.9-million share bonus to employees
Rabiu is donating the shares from his own stake to acknowledge workers who kept BUA Cement profitable in 2020.
Latest
Tycoon philanthropist Tony Elumelu looks to build Nigeria’s first nuclear power plants
The move aligns with the plans of his company, Transcorp, to boost its integrated energy strategy.
Multichoice loses $578.69 million after acquiring additional stake in Adekunle Adeniji’s BetKing
Multichoice Group offered $281.5 million for the stake in BetKing.
South African billionaire Johann Rupert loses $440 million in June
The decline followed a drop in the value of his stakes in Reinet Investment and Remgro Limited.
Jim Ovia’s Zenith Bank retains spot as Nigeria’s top tier-1 capital bank
Zenith topped the list of Nigerian banks in a global ranking published by The Banker Magazine.
Douglas Stevenson-led Cell C seeks bailout from RMB and Investec
Cell C is South Africa’s fourth-largest mobile phone operator.
Namibia’s Tromp family to earn $467,194 in dividends from Nictus Holdings
The diversified investment holding operates the General Motors franchise in Namibia.
Rio Tinto CEO Jakob Stausholm pauses South Africa operations due to safety concerns
Last month, an employee at the company’s mine in South Africa was shot dead on his way to work.
Ukrainian tech investor Anton Volyansky’s classifieds marketplace, Jiji, acquires Cars45
The move will grant the company entry into transactional marketplaces.
Stake of Kenyan advertising mogul Bharat Thakrar in WPP Scangroup loses $342,170 in 61 days
The decline comes on the back of a sell-down in the marketing and communications company’s shares.
Vincent Rague steps in as chairman of UAP Old Mutual Group
Rague’s appointment comes after the board announced the retirement of its outgoing chairman, Joseph Barrage Wanjui.
Stake of Tanzania’s Rajabali brothers in CRDB Bank gains $1.88 million in 61 days
CRDB Bank is the largest wholly-owned private financial services group in Tanzania.
Orascom founder, billionaire patriarch of Egypt’s Sawiris family dies at 91
Onsi Sawiris passed away on June 29 at the age of 91.
Greek-Nigerian mogul John Coumantaros to pocket $10.43 million in dividends from Flour Mills of Nigeria
The company is Nigeria’s market leader in flour marketing and production.
Samih Sawiris’ Orascom seeks to build rail line linking Egypt and Sudanese capital of Khartoum
The Egyptian Transport Ministry has unveiled a plan to introduce a rail line linking Alexandria and Khartoum.
BUA Group Chairman Abdul Samad Rabiu made first president of France-Nigeria Business Council
French President Emmanuel Macron inaugurated the council on the sidelines of the Choose France Summit in Versailles.