Nigerian energy magnate Austin Avuru records $23.6 million loss on Seplat stake
Since the start of the year, the market value of this stake has fallen by $23.6 million, driven by a slump in the company’s share price.
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Aliko Dangote’s refinery relies on U.S. crude imports amid Nigeria supply drop
The shift underscores evolving global trade dynamics and Nigeria’s urgent need to stabilize fuel production.
JP Morgan’s stake in July Ndlovu-led Thungela drops below $50 million
JP Morgan’s Thungela stake drops to $47 million despite raising its holding, as coal prices retreat and investor sentiment shifts amid global energy transition.
Ally Awadh’s Lake Gas receives Nigerian cooking gas shipment to cut prices in Kenya
Lake Gas, led by Ally Awadh, lands Nigerian LPG at Kenya’s Vipingo terminal to lower prices and boost East Africa’s clean energy supply.
U.S.-Nigerian telecom executive Sam Darwish records $7.24 million decline on IHS stake
The decline reflects ongoing investor caution and broader market volatility affecting emerging-market telecom stocks.
Moroccan billionaire Alami Lazraq gains $78 million from ADI shares
This is a reversal from early May when ADI came under pressure. Between May 6 and May 22, Lazraq’s stake lost MAD570.53 million ($61.78 million) in market value.
Burkinabe tycoon Idrissa Nassa’s Coris Bank gets $34 million to expand SME lending in Côte d’Ivoire
Coris Bank secures $34.3 million loan from Proparco to expand SME lending in Côte d’Ivoire and grow its $9 billion footprint across West and Central Africa.
Africa’s newest billionaire Zak Calisto gains $115 million from Karooooo’s stake
Zak Calisto’s Karooooo stake rises to $1.17 billion, gaining $115 million as SaaS growth drives revenue and user expansion across 23 countries.
Duncan Wanblad-led Anglo American plans $26 million upgrade at Quellaveco mine
The upgrade aims to enhance production capacity and sustainability efforts amid rising global demand for copper, a critical metal in the clean energy transition.
Lowe’s led by Marvin Ellison completes $1.33 billion acquisition of Artisan Design
Lowe’s finalizes $1.33 billion Artisan Design deal to strengthen Pro services and capture growth in the $50 billion interior finishes market amid a U.S. housing boom.
Discovery co-founder Adrian Gore gains $34 million from stock rally
Over the past 16 days, the market value of his stake has increased by $34.74 million, propelling the market value of his stake above the $600-million mark.
Kenyatta family, Kenya’s largest landowners, gains $10 million from NCBA stake
Kenyatta family gains $10 million as NCBA stock rallies 12%, lifting their 13.2% stake to over $92 million in just 22 days.
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.
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.
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.