Femi Otedola-linked FBNH posts triple-digit earnings growth as profit exceeds $200 million
Otedola owns a substantial 5.57 percent of First Bank of Nigeria Holdings.
African Billionaires
Africa’s richest man Aliko Dangote’s net worth slumps by $200 million in October
Aliko Dangote is the world’s richest Black person.
Nigerian energy magnates Bryant Orjiako, Austin Avuru to pocket $2.15 million in Seplat dividends
Orjiako and Avuru own a 6.43-percent and 8.2-percent stake in Seplat Energy, respectively.
Tunisian businessman Abdelwaheb Ben Ayed has now lost $4.6 million since start of 2022
Ben Ayed owns a beneficial 3.4 percent stake in the conglomerate.
Nigerian banking magnate Jim Ovia’s Zenith Bank posts $399 million in profit in 9M 2022
Ovia owns 16.2 percent of Zenith Bank.
Egyptian billionaire Nassef Sawiris loses $110 million in single day as Adidas cuts ties with Ye
Sawiris is Egypt’s richest man and one of Africa’s wealthiest billionaires.
American-Nigerian telecom tycoon Sam Darwish’s IHS Holding to spend $214 million to cut carbon footprint
Darwish owns 3.5 percent of the telecom infrastructure company.
Energy mogul Bryant Orjiako’s Seplat posts more than $70 million in profit amid surge in oil prices
Orjiako owns a 6.43 percent stake in Seplat Energy.
Ethiopian billionaire Mohammed Al-Amoudi gains $130 million in 30 days
Al-Amoudi derives the majority of his fortune from Preem and Svenska Petroleum Exploration.
The ‘family’ in family business
Simply put, one of the keys to the success of a big business and the most integral part of the business is the family.
Nigerian banker Herbert Wigwe’s Access Holdings to acquire stake in Sigma Pensions
Wigwe owns a significant 4.27-percent stake in Access Holdings.
Mauritian tycoon Arnaud Mayer’s Evaco rebounds from losses, profit soars above $2 million in 2022
Mayer founded Evaco in 2001 as a real estate development company.
Kenyan tech tycoon Julius Mwale meets President Julius Bio to discuss interest in Sierra Leone
Mwale is the primary investor in Mwale Medical and Technology City.
Kanye West no longer a billionaire as Adidas cuts ties with Yeezy brand
The majority of West’s fortune was based on a multiple of annual earnings from Adidas.
Egyptian mogul Medhat Khalil’s Raya Holdings becomes full owner of Haier-Raya Electric
Khalil owns 58.1 percent of Raya Holding for Financial Investments.
Segun Agbaje-led GTCO reports slight rise in earnings as profit nears $300 million in 9M 2022
Earnings during the first nine months of 2022 were significantly impacted by rising operating costs and tax obligations.