Nigerian billionaire Abdul Samad Rabiu overtakes telecom mogul Mike Adenuga in Forbes ranking
Rabiu is now Africa’s fifth-richest man.
Featured
Nigerian billionaire Mike Adenuga’s net worth slumps by $200 million since start of 2022
Adenuga derives the majority of his wealth from his telecom company and his investments in the Nigerian oil industry.
Shell to receive final bids from Nigerian mogul Tony Elumelu’s oil firm, others for $2.3-billion oil assets
The move comes nearly a year after the British energy giant announced plans to divest its interests in Nigeria.
Queen’s bank honors Somali tycoon Abdirashid Duale for contribution to financial sector
His company Dahabshiil has grown into a leading African money transfer business.
Controversial South African tycoon Hamilton Ndlovu banned from doing business with state
Ndlovu made a fortune through controversial PPE contracts.
LSE lauds Nigerian energy mogul Bryant Orjiako’s achievements at Seplat Energy
The LSE’s statement comes just a few weeks after Orjiako retired as chairman.
Africa’s wealthiest man, billionaire Aliko Dangote loses $700 million in 10 days
But with his fortune of $20.3 billion, he remains Africa’s richest man.
Nigerian billionaire Femi Otedola dumps shares in FBHN worth $17.8 million
The transaction is expected to have an impact on Otedola’s dividend earnings.
South African mogul Adrian Gore’s Discovery Limited launches private firefighting service
Gore owns a sizable 7.48-percent stake in the Sandton-based company.
Wealthy South African Ackerman family receives $15 million in Pick n Pay dividends
The $15.04-million dividend was drawn from the group’s retained earnings of $306.5 million.
Nigerian tech tycoon Mitchell Elegbe’s Interswitch to start paying allowances to employee spouses
Interswitch did not specify how much it will pay or the range of pay.
Led by Egyptian exec Karim Awad, EFG Hermes issues $26.8-million bond
The bond has a credit rating of “A-” from Middle East Ratings and Investor Services.
Nigerian billionaire Mike Adenuga earns over $3.6 million in single day from Conoil
So far this year, the company’s share price has increased by 45.4 percent.
Wealthy Kenyan Ndegwa family gains $3.1 million from stake in NCBA Group
The Ndegwa family owns 12.52 percent of NCBA Group, which is worth more than $45 million.
Egyptian mogul Ahmed Ezz’s steel company records more than $65 million in profit in Q1 2022
Ezz owns a majority 60.7-percent stake in Ezz Steel.
Nigerian billionaire Abdul Samad Rabiu gains half a billion dollars off back of stake in BUA Cement
The total value of Rabiu’s shares in publicly traded companies is now more than $8.6 billion.