Nigerian tycoon Obafoluke Otudeko in distress as Ecobank hunts for assets
Meanwhile, Otudeko has described the lawsuit as an abuse of court processes.
Hot News
James Mwangi’s Equity Group Foundation commits $787,401 to support healthcare workers in Kenya
COVID-19 has caused Kenyan healthcare workers to experience mental stress in the line of duty.
Global lenders team up with Stephen Saad’s Aspen on $711-million COVID-19 vaccine deal
The consortium hopes to help Africa avoid continued hoarding of COVID-19 vaccines by developed countries.
Kevin Okyere’s Springfield triumphs over Italian major ENI in court ruling over disputed oilfield revenues
Okyere welcomed the ruling as a “vindication of Springfield’s position.”
Ugandan tycoon Ham Kiggundu donates $150,000 to COVID-19 fight
Kiggundu presented the funds to Uganda’s newly appointed Prime Minister Robinah Nabbanja on Friday.
Swazi billionaire Nathan Kirsch’s Skyscraper Tower 42 doubles in value
In December 2011, Kirsch Group paid £238 million to acquire the 42-story building and surrounding units.
South African real estate moguls Martin Slabbert and Victor Semionov see stakes gain $21.099 million
The gains can be attributed to the recent surge in the company’s shares back to pre-pandemic levels.
Kenyan tycoon Naushad Merali passes away at age of 70
Merali died at 5:00 AM this morning while undergoing treatment for an undisclosed ailment at the Nairobi Hospital.
Gary Sharp’s crocodile-skin supplier, Padenga Holdings, eyes listing on Victoria Falls Exchange
The new bourse was established in October 2020 and trades solely in U.S. dollars.
Rebecca Mbithi plans to expand Family Bank after corporate bond trading on Nairobi bourse
The move comes after the bank raised $39 million against a $27.8-million target in its issued bond.
Moroccan real estate mogul Alami Lazraq gains $12.969 million from stake in ADI
Founded in 1994 by Lazraq, ADI is one of the largest home and hotel builders in Morocco.
French investor Thierry Deau’s Meridiam signs $179-million hydropower-plant deal with Gabon
Meridiam is a global investment and asset management company founded in 2005.
Egypt’s richest billionaire Nassef Sawiris earns $370 million in 13 days
The serial investor holds stakes in the publicly traded fertilizer group OCI N.V., Adidas and LafargeHolcim.
Laurin Hainy’s fintech startup FairMoney raises $42-million Series-B round
This follows an $11.8-million Series-A round raised in 2019 and a $1.4-million seed fund raised in 2018.
Tony Elumelu’s stake in Transcorp Plc gains $224,993 in 93 days
Elumelu is the chairman of Heirs Holdings, the United Bank for Africa and Transcorp.
Nigerian billionaire Abdul Samad Rabiu gifts $4.9-million share bonus to employees
Rabiu is donating the shares from his own stake to acknowledge workers who kept BUA Cement profitable in 2020.