Mysterious Nigerian buyer pays $20 million to acquire Abo FPSO from BW Offshore
There is no information available whatsoever about the ownership of STAC or its existence prior to the deal with BW Offshore..
African Billionaires
Nigerian energy tycoon Wale Tinubu gains $40 million from Oando stake
Tinubu, a towering figure in the Nigerian energy industry, who owns 66.67 percent of Ocean and Oil Development Partners (OODP), has an indirect stake in Oando.
5 businesses owned by Floyd ‘Money’ Mayweather
Over the course of his undefeated career, Floyd “Money” Mayweather has pulled in approximately $2.7 billion from global pay-per-view sales.
South African businessman Mfundo Nkuhlu earns $1.6-million salary from Nedbank in 2022
Nkuhlu has been the COO and executive director of Nedbank Group since January 2015, when he was appointed by the group’s board of directors.
Nigeria’s second-richest man Abdul Samad Rabiu rejoins world’s 500 richest billionaires
This surge in wealth has firmly positioned Rabiu as the 500th richest individual globally, just behind the 499th-ranked Charles Dolan.
Aga Khan IV gains $4.5 million from Nairobi-based insurer Jubilee Holdings
This remarkable increase in the market value of his share further solidifies Aga Khan IV’s position as the richest investor on the Nairobi Securities Exchange.
Bank led by Kenyan tycoon James Mwangi partners with MasterCard to expand cross-border payments
Under the visionary leadership of Mwangi, Equity Group has emerged as a dominant force in East and Central Africa.
Firm led by America’s richest Black man set to reap billions from Stats Perform sale
Under Smith, Vista Equity has realized remarkable gains, totaling a substantial $14.3 billion through monetization activities since 2021.
Burna Boy to earn up to $1 million as headliner for Uganda’s new stadium opening
Burna Boy, known for his electrifying performances, has become a sought-after international act, commanding fees ranging from $700,000 to $1 million.
Nigerian billionaire Abdul Samad Rabiu plans to crash cement prices
Rabiu said that his company, BUA Cement, is building two new plants that will increase output capacity to 17 million metric tonnes.
10 companies owned by Tanzanian multimillionaire Said Bakhresa
Bakhresa, one of East Africa’s richest men, started his billion-dollar empire with a humble restaurant selling baked goods.
5 businesses owned by Nigerian multimillionaire Michael J. Prest
The narrative of African commodity trading is incomplete without mentioning the influence of Prest.
7 businesses owned by Rick Ross
Ross, the Clarksdale, Mississippi-born hip-hop icon, is a successful businessman in his own right with numerous businesses in his kitty.
Egypt’s richest man Nassef Sawiris’ stake in Aston Villa slumps below $125 million
Despite the recent dip in his Aston Villa ownership, Sawiris has had a lucrative year, with wealth gains exceeding $640 million.
South African-born tycoon Barry Stuhler takes $20-million hit from Lighthouse stake
Stuhler owns a 9.72-percent stake in Lighthouse Properties. His stake amounts to 172,699,222 shares.
Nigerian business mogul Ernest Azudialu-Obiejesi orders $76-million luxury jet
Azudialu-Obiejesi’s decision to procure the G-700 aircraft underscores his commitment to building a world-class energy conglomerate.