Nigerian billionaire Abdul Samad Rabiu’s BUA Foods doubles nine-month profit to $283 million
BUA Foods, led by billionaire Abdul Samad Rabiu, doubles nine-month profit to $283 million on rising sales and cost control.
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Nigerian tycoon Solomon Onafowokan opens Africa’s largest fibre-optic cable plant
Coleman Technical Industries chairman Asiwaju Solomon Onafowokan has launched a massive fibre-optic cable factory in Sagamu, boosting Nigeria’s digital-economy capacity and reducing dependence on imported network infrastructure.
6 businesses owned by Nigerian multimillionaire Kashim Shettima Bukar
From banking to aviation and oil logistics, Nigerian businessman Kashim Shettima Bukar has built the Barbedos Group into a multi-sector empire.
Nigerian magnate Aderemi Makanjuola’s Caverton Offshore trims losses to $3.13 million, turns cash positive
After a sharp drop in revenue, Caverton Offshore Support Group Plc delivered a markedly reduced loss in its Q3 2025 interim results, under the leadership of founder-chairman Aderemi Makanjuola.
South African tycoon Stephen Saad’s Aspen stake loses $18 million
Stephen Saad’s Aspen stake drops $18 million as shares fall 5.45% in 16 days, deepening losses for South Africa’s largest drugmaker.
Nigerian billionaire Femi Otedola’s First HoldCo posts $1.7 billion in gross earnings
Femi Otedola’s First HoldCo posts $1.7 billion gross earnings in nine months, with strong asset and equity growth.
Kenyan real estate giant Lloyd Masika, Stanbic probed over suspicious valuation
Kenyan real-estate tycoon David Masika finds his firm Lloyd Masika Limited in legal limbo after a recent case exposed major valuation discrepancies and raises questions about due-diligence practices.
United Bank for Africa posts $363.5 million Q3 profit, deepens capital base
United Bank for Africa reported N538bn profit after tax for Q3 2025, with assets climbing to N32.5trn and shareholders’ funds up 26%, reflecting strong performance and robust capitalisation.
South African tycoon Stephen Saad’s Aspen wins $29 million settlement
Stephen Saad’s Aspen wins $29 million settlement in mRNA production dispute, boosting investor confidence after a tough fiscal year.
American-Burkinabè banker Simon Tiemtoré's Vista Bank eyes controlling stake in ACEP Cameroon
Vista Bank, led by Simon Tiemtoré, is in advanced talks to acquire a controlling stake in ACEP Cameroon to expand across Central Africa.
Oando links $450 million revenue loss to Aliko Dangote’s $20 billion refinery
Oando blames a $450 million revenue fall on Dangote’s $20 billion refinery as it shifts focus to crude and gas trading.
Fairvest, co-founded by Darren Wilder, acquires two South African malls for $39 million
Fairvest buys Jozini and Tugela Ferry malls for $39 million, boosting its South African retail portfolio.
Kenyan tycoon TK Muya’s Family Bank secures nod to list in 2026
Family Bank, founded by Kenyan tycoon TK Muya, has secured shareholder approval to list on the Nairobi Securities Exchange in 2026.
Nigerian billionaire Kola Karim says Nigeria should chase 5 million barrels of oil a day by 2030
Shoreline Group chairman Kola Karim has urged government to lift its oil ambition to 5 million barrels a day by 2030, arguing that security, financing and contract fixes can unlock brownfield and deepwater barrels far above today’s output.
Datatec CEO Jens Montanana to pocket $4.3 million dividend
JSE-listed Datatec lifted its interim dividend to R1.75 a share after headline earnings more than doubled, with Westcon and Logicalis driving margin gains and a swing to net cash.
South African billionaire Mark Shuttleworth rules out Canonical IPO
Open-source infrastructure house Canonical has the financial base for a public listing, but founder and CEO Mark Shuttleworth says the timing is wrong.