Nigerian banking executive Remi Babalola resigns weeks after Femi Otedola increases stake in FBN Holdings
Experts believe Otedola could take over the helm as the bank’s chairman, or exercise some level of control over its administration.
Hot News
Nigerian media mogul Nduka Obaigbena fights ban on running company in UK
A London judge has granted him permission to appeal the decision banning him from trading in the UK.
Egyptian billionaire Naguib Sawiris set to sell his majority stake in ‘struggling’ Euronews
The deal is expected to close in Q1 2022.
Pharma tycoon Stephen Saad gains $38 million as Aspen moves to produce COVID-19 vaccines
The gains came in under 24 hours, as investors positively assessed his pharma company’s deal with J&J.
Egyptian tycoon Hani Berzi gains $21.7 million as Edita shares hit five-month high
Berzi owns a 41.95-percent stake in Edita Food Industries, a leader in the Egyptian packaged snack foods market.
Ecobank, Proparco seize Mumias Sugar after tycoon Julius Mwale reveals plans to hire Dangote-connected firm
Mumias Sugar was once the largest sugar manufacturer in Kenya.
Mauritian businessman Arnaud Dalais loses $2.66 million in 34 days as CIEL Limited shares fall
CIEL is a Mauritian conglomerate with active operations and investments in over 10 emerging and developing economies.
South African billionaire Patrice Motsepe gains $224 million in three weeks as ARM shares soar
ARM is a leading South African diversified minerals company.
Ashish J. Thakkar’s Mara Phones signs export deal with Angolan firm
Mara Phones is a subsidiary of Mara Group and operates in Rwanda and South Africa.
Aisha Cassam Timol’s CIM Finance acquires fellow Mauritius-based Tsusho Capital
CFSL is a non-deposit-taking financial services holding listed on the Stock Exchange of Mauritius.
South Africa-born billionaire Patrick Soon-Shiong set to build COVID-19, cancer vaccine center in Botswana
Soon-Shiong became a billionaire after selling APP Pharmaceuticals and Abraxis BioScience for $4.6 billion and $2.8 billion, respectively.
Nigerian billionaire Femi Otedola not interested in becoming director in Nigeria’s largest bank
Otedola has said that contrary to speculation he has no interest in becoming the chairman of First Bank Nigeria.
Led by Pakistani businessman Syed Basar Shueb, Chimera invests $50 million in Airtel Africa’s mobile money business
Chimera Investment operates as a member of Abu Dhabi’s Royal Group, a diversified conglomerate of companies.
Led by Tokunboh Ishmael, Africa’s first women-focused private equity firm Alitheia IDF raises 100 million
Aitheia IDF identifies, invests in and grows small and medium enterprises led by gender-diverse teams.
South African tycoon Stephen Brookes loses $74.2 million in month as Balwin Properties shares slump by 18 percent
Brookes, who founded the company in 1996, is the largest shareholder with a 36.08-percent stake.
Africa’s richest man Aliko Dangote gains back $200 million after losing $1 billion in day
The $200-million wealth bump can be linked to the rising share price of his cement and sugar businesses.