Femi Otedola’s net worth hits $1.6 billion on gains from Geregu Power, First HoldCo
Nigerian billionaire businessman and philanthropist Femi Otedola’s fortune climbs to $1.6 billion on strong gains from Geregu Power and First HoldCo.
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Nduka Obaigbena’s General Hydrocarbons placed in receivership by AMCON amid First Bank loan dispute
AMCON has taken control of Nduka Obaigbena’s General Hydrocarbons, deepening financial troubles that could spill over into his Arise TV and ThisDay holdings.
Vodacom settles with ‘Please Call Me’ inventor Nkosana Makate after $1.5-billion standoff
Vodacom confirmed that its board approved the agreement on Nov. 4 and said the financial impact will be reflected in its half-year results due Nov. 10.
Senegal’s richest man Yerim Sow to list Bridge Bank on BRVM
Senegalese investor Yérim Sow is preparing an IPO of Côte d’Ivoire’s Bridge Bank Group on the BRVM to fund West African expansion.
Kola Aina's Ventures Platform raises $64 million to back Africa’s next tech giants
Ventures Platform has raised $64 million for its second fund, aiming to back Africa’s next generation of tech startups and drive regional expansion.
Sim Tshabalala-led Standard Bank expands into Egypt with new office
Standard Bank is launching a Cairo office on Nov. 12, strengthening Africa’s link to global capital markets.
Nigerian businessman Temitope Lawani's Helios weighs full Axxela exit
Helios is preparing to sell its remaining stake in Axxela, marking a major shift in Temitope Lawani’s investment focus.
Ghana’s top investor, Daniel Ofori, gains $13.2 million on bank holdings
Ofori’s Société Générale Ghana stake climbs to $18 million after $13.2 million gain from share surge and cedi strength.
Axian’s Hassanein Hiridjee seals $63 million deal for Kenya’s Wananchi
Axian Telecom agreed to acquire Wananchi Group for $63 million, adding enterprise fibre and connectivity assets in Kenya, Tanzania and Uganda.
The Nigerian prince who quietly built Africa’s biggest private oil empire
Prince Arthur Eze parlayed state TV contracts, military friendships and a royal name into Atlas Oranto, a sprawling African oil empire now under scrutiny from reform-minded governments.
South African tycoon Khudusela Pitje’s GX Capital lands $43 million from Standard Bank
New GX Capital secures $43 million from Standard Bank to scale renewable power, storage, water and gas projects.
Kenyan lawyer Desterio Oyatsi gains $6.7 million from NCBA stake surge
Oyatsi, who serves as the deputy group chairman of NCBA, owns 21.7 million units of the bank’s shares, representing a 1.32 percent stake in the lender.
Sergio Tati’s Anda gets $3.5 million to transform Angola’s motorcycle transport
Angolan startup Anda, co-founded by entrepreneur Sergio Tati, raised €3 million ($3.5 million) to formalize and finance the country’s motorcycle taxis.
Nigerian entrepreneur Olanrewaju Olaniyan’s Siatech Africa builds Liberia’s first solar city
Olanrewaju Olaniyan’s Siatech Africa launches Liberia’s first solar city, merging clean energy with digital growth across West Africa.
Ama Amo-Agyei’s Plantmade once raced to £11m sales — now the founder exits after administration
Plantmade, the viral hair-care brand founded by Ama Amo-Agyei, entered administration owing about £1.8 million and was sold for £30,000 in a pre-pack to Crown Holdings, which has invested to clear back orders and retain jobs. UK coverage previously put the brand on track for £11 million in revenue.
Aliko Dangote may sell stake as NNPC seeks larger share in $20 billion refinery
NNPC aims for a 20 percent stake in Aliko Dangote’s $20 billion refinery to strengthen Nigeria’s refining capacity.