Nigerian billionaire Femi Otedola’s Geregu Power to pay $14.4 million final dividend to shareholders
The final dividend for the year ended Dec. 31, 2024, amounts to N21.25 billion ($14.4 million), translating to a payout of N8.5 per share.
Hot News
South African tycoon Jens Montanana’s stake in Datatec nears $100 million
This solidifies his standing as one of South Africa’s top investors.
South Africa’s richest man, Johann Rupert, gains $2.67 billion in January—net worth hits $16.3 billion
The $2.67 billion increase in January alone far exceeds the $1.3 billion he added throughout 2024.
JP Morgan takes stake worth $148 million in Bertina Engelbrecht-led Clicks Group
JPMorgan lifts its Clicks Group stake to 6.54%, signaling confidence in the retailer’s resilience as Standard Bank trims holdings amid market shifts.
Ugandan tycoon Charles Mbire sees $3.65 million loss on MTN Uganda shares
Mbire saw the market value of his holdings drop from $70.57 million on Jan. 15 to $66.92 million at the time of this report.
Standard Bank, led by Sim Tshabalala, commits nearly $1 billion to Barloworld acquisition
The bank’s backing is a key part of the broader R22.8 billion ($1.23 billion) bid, reinforcing its role as a dominant corporate financier on the continent.
Malagasy businessman Hassanein Hiridjee’s AXIAN Telecom lands $160 million financing to enhance infrastructure
This will enable AXIAN to modernize its network infrastructure, expand 4G and 5G services, and fuel digital innovation across its operations.
South African pharma tycoon Stephen Saad’s Aspen stake rises above $550 million
With the recent rise in Aspen's stock price, the value of his holdings has crossed $550 million, marking a recovery after a challenging 2024.
Nigerian billionaire Abdul Samad Rabiu’s BUA Foods reports $182.7 million profit in 2024
The company’s profit more than doubled, reaching over $180 million, underscoring its growing influence and market presence in Nigeria’s food sector.
Ex-CEO of Africa’s most valuable company sees stake slump below $100 million
Tencent’s struggles and global tech uncertainty weigh on Africa’s most valuable company, Naspers.
Billionaire Femi Otedola leads FBN Holdings to record gross earnings of more than $2 billion
The group’s gross earnings surged past $2 billion, further solidifying its place among Nigeria’s leading financial institutions.
British-Nigerian entrepreneur Ladi Delano’s startup acquires Brazil’s mobility provider Kovi
Deal strengthens global mobility fintech’s presence in Latin America, expands AI-driven fleet management.
10 assets owned by Nigeria’s richest woman Folorunso Alakija
Alakija’s path to prominence began in 1974, when she took on the role of secretary at Sijuwade Group, a conglomerate owned by the late Oba Okunade Sijuwade.
South African billionaire Jannie Mouton’s Capitec stake falls below $1 billion after $59.5 million drop
This decline comes after a strong 2024 performance that saw Mouton’s stake gain $350 million, soaring from over $650 million to beyond $1 billion.
Nigerian oil mogul Sayyu Dantata’s MRS Oil sees profits exceed $4 million in 2024
MRS Oil’s ability to navigate inflationary headwinds and leverage supply chain efficiencies highlights its resilience in Nigeria’s volatile energy sector.
10 Algerian businessmen you should know
These visionaries are transforming industries like steel, cement, and petrochemicals, while also embracing technological innovations to open new doors for growth.