Nigerian businessman Tony Elumelu’s Transcorp grows profit 20% to $62 million in nine months
Transcorp, chaired by Nigerian businessman Tony Elumelu, reports a 20% profit rise to $62 million, boosted by power and hospitality growth.
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Access Holdings, led by Aig-Imoukhuede, posts profit drop on lower forex gains
Access Holdings, led by Aigboje Aig-Imoukhuede, reports a profit decline as lower forex gains and rising costs weigh on results.
South African billionaire Koos Bekker-led Prosus to back India's early-stage startups
Koos Bekker’s Prosus partners with Accel to back India’s early-stage startups in AI, energy, and advanced manufacturing.
Aliko Dangote’s cement company profit nearly triples to $508 million
Aliko Dangote’s Dangote Cement profit jumps to $508 million, marking a milestone for Nigeria’s largest cement producer.
Abdul Samad Rabiu set to become Nigeria’s next $10 billion man
Nigerian billionaire Abdul Samad Rabiu’s fortune hits $9.2 billion, fueled by strong gains in BUA Foods and BUA Cement shares.
Nigeria's NIPCO, controlled by Indian billionaire Ramesh Kansagra, acquires 19% of Savannah Energy
NIPCO Plc, controlled by the wealthy Kansagra family via Purebond, is acquiring about 19% of London-listed Savannah Energy.
LeBron James expands $37 million Beverly Hills estate with two mansions
LeBron James expands his $37 million Beverly Hills estate with two luxury mansions, each designed to his vision.
Absa, led by Kenny Fihla, to acquire Standard Chartered Uganda’s retail, wealth business
Absa Bank Uganda, an arm of the banking group led by Kenny Fihla, will acquire Standard Chartered’s retail and wealth units to boost its footprint and retail reach in East Africa.
Harmony Gold, backed by Patrice Motsepe, completes $1.01 billion copper deal in Australia
Harmony Gold, backed by Patrice Motsepe, has completed its $1.01 billion acquisition of Australia’s MAC Copper, expanding into the copper market.
Markus Jooste’s former coastal estate expected to top $5.8 million
A Hermanus coastal estate once owned by Markus Jooste is drawing top bids, expected to exceed $5.8 million.
Dangote to expand refinery to 1.4 million barrels a day, eyes $55 billion in annual revenue
Aliko Dangote plans to double the capacity of his Lagos refinery to 1.4 million barrels a day, aiming to make it a global refining leader. The billionaire also reaffirmed plans to list shares on the NGX and promised steady fuel supply during the festive season.
Aradel, led by Adegbite Falade, eyes majority stake in ND Western in expansion push
Aradel Holdings boosts its ND Western stake to 81.67%, strengthening its control in Nigeria’s oil and gas sector.
Nigerian tycoons Ladi Jadesimi and Adegbite Falade gain $25.7 million as Aradel stock rallies 25 percent
A one-week surge in Aradel’s share price added $25.7 million to the fortunes of founder Ladi Jadesimi and CEO Adegbite Falade. Rising output, fresh deals and a steadier oil market helped drive the rally.
Nigeria commits $1 billion to Lagos port upgrade after Gilbert Chagoury's firm win
Nigeria approves $1 billion to modernize Lagos seaports after Gilbert Chagoury’s ITB Nigeria wins upgrade contract.
Madagascar business magnate Mamy Ravamatoga arrested in Mauritius
Mauritius detains Madagascar business magnate Mamy Ravatomanga over suspected money laundering and Boeing jet transfer to Iran.
Zimbabwean billionaire Strive Masiyiwa’s Cassava wins NVIDIA’s investment
Cassava Technologies, backed by billionaire Strive Masiyiwa, secures investment from NVIDIA to boost Africa’s digital and AI growth.