Wale Tinubu's Oando restates 2024 profit at $139 million
Oando's 2024 profit hit $139 million, up 267%, fueled by the NAOC deal, rising production, and improved upstream performance.
Billionaires Africa
South African billionaire Johann Rupert’s net worth drops below $17 billion
Johann Rupert’s net worth falls $800 million to $16.3 billion amid Richemont’s 6.5% share decline despite strong global jewelry sales.
Media mogul Byron Allen enlists investment bank to sell TV stations
The move comes after Allen’s aggressive expansion, spending over $1 billion acquiring network-affiliated stations in smaller U.S. markets.
Why Tony Elumelu is betting big on UBA with a stake worth over $80 million
In Elumelu’s world, control is currency, and UBA is the crown jewel he’s determined to protect.
Abdul Samad Rabiu’s BUA pours $65 million into port terminal project
This follows public controversy after former Nigerian Ports Authority (NPA) Managing Director Hadiza Bala Usman accused BUA of breaching concession terms.
Ghanaian businessman Joseph Siaw Agyepong signs deal to close dumpsites in Lagos
Joseph Agyepong partners with Lagos to transform waste management, build recycling facilities, create 5,000 jobs, and shift from landfills to resource recovery.
Yasseen Mansour's Palm Hills launches new project with $4 billion sales target
Palm Hills launches Jirian, its first project in Egypt’s New Delta, targeting EGP200 billion ($4 billion) in sales as it redefines urban living with a Nile-front city.
Fidson stake held by Nigerian tycoon Fidelis Ayebae rises by $2.4 million
Over the past 30 days, his stake has surged by N3.8 billion ($2.4 million), propelling the market value of his stake above $13 million.
Madinet Masr, led by Egyptian tycoon Abdallah Sallam, opens new unit in Dubai
The new entity will serve as the hub for managing the group’s real estate projects beyond Egypt.
Bill Gates to direct most of $200 billion pledge toward Africa’s future
His focus: supporting governments that put people’s health and wellbeing at the heart of their agendas.
Nigerian gambling magnate's secret $4.3 million stake in foam manufacturer
Kessington Adebutu’s investment in Vitafoam and Wema Bank highlights his strategic wealth-building beyond Nigeria’s lottery empire, Premier Lotto.
Johann Rupert to receive $20.7 million dividend from Reinet
Johann Rupert will receive a $20.7 million dividend from Reinet Investments after the Luxembourg-based firm reported strong asset growth in its latest fiscal year.
South Africa’s Barry Swartzberg gains $18 million from Discovery stake
Discovery Limited's stock gains lift Barry Swartzberg’s fortune, reinforcing confidence in South Africa’s financial services sector.
Lowe’s, led by Marvin Ellison, declares $672 million quarterly dividend
Lowe’s, led by CEO Marvin Ellison, declares $672 million quarterly dividend, up 4%, underscoring its commitment to shareholder value amid market challenges.
Mike Adenuga’s Globacom expands network to community near Nigeria’s capital
Glo expands mobile network to rural Kura near Abuja, connecting 12,000 residents with LTE, public WiFi for schools, clinics, and businesses.
South Africa’s Saltzman family sees $28.6 million gain from Dis-Chem shares
This increase highlights the family's position as one of South Africa’s wealthiest.