Nigerian businessman Tony Elumelu awards $5-million seed capital to 1,000 African entrepreneurs
Each recipient is set to receive a $5,000 non-refundable seed capital to kickstart their entrepreneurial endeavors.
Nigeria
Greek tycoon John Coumantaros’ stake in Flour Mills of Nigeria tumbles below $70 million
Since Feb. 6, the market value of Coumantaros’ stake in the leading agro-allied group has plunged by $8.7 million, falling from $77.06 million to $68.36 million.
Africa’s richest man Aliko Dangote’s net worth hits $15 billion as naira rebounds to N1,400/$
Dangote’s financial resurgence reflects not only his vast fortune and investment portfolio but also the broader economic dynamics at play within Africa’s biggest economy.
Nigerian gambling magnate Kessington Adebutu makes $2.3 million from Wema Bank stake
This surge not only reaffirms Adebutu’s status as one of the wealthiest investors on the NGX but also underscores Wema Bank’s pivotal role in Nigeria’s financial landscape.
Adaora Umeoji emerges as first female CEO of Nigeria’s most profitable bank
Umeoji will ascend to the helm of the institution, taking over the reins of control from Ebenezer Onyeagwu, whose term as group managing director and CEO expires on May 31.
British-Nigerian entrepreneur Ladi Delano’s startup raises $100 million at $750 million valuation
Established in 2020 by Delano alongside Jide Odunsi, Moove has rapidly emerged as a key player in the mobility fintech sector.
Nigerian gas tycoon Julius Rone seeks investment for revolutionary FLNG project
The appeal for investment was made during a meeting between Rone’s management team at UTM Offshore and Felix Omatsola Ogbe, the executive secretary of NCDMB.
Nigeria’s aviation authority warns private jet owners, including billionaires, on unauthorized usage
To ensure compliance, the NCAA will deploy officials to General Aviation Terminals (GAT) and private airport wings to monitor PNCF holders’ activities closely.
Nigeria’s richest banker Jim Ovia’s Zenith Bank stake rebounds above $120 million
The surge in Ovia’s stake marks a recovery from the impact of the recent devaluation of the Nigerian currency, which saw his fortune dip below $100 million in February
Dangote’s half-brother Sayyu Dantata eyes sale of lavish Banana Island mansion
The leading businessman known for his affinity for luxury and lavish assets, is reportedly contemplating a return to his hometown of Kano State.
Africa’s richest man Aliko Dangote loses $8.7 billion amid Nigeria’s currency woes
This decline is influenced by the recent devaluation of the Nigerian currency — the country’s second devaluation in eight months.
Nigerian tycoon Tony Elumelu launches Heirs Technologies to lead digital transformation in Africa
Heirs Technologies is set to play a pivotal role in shaping Africa’s digital future. The launch signifies a crucial moment in the continent’s technological advancement.
Tony Elumelu’s Heirs Energies expands gas supply operations to boost power generation in Nigeria
The recent success of Heirs Energies is linked to strategic acquisitions.
Elon Musk’s Starlink raises hardware prices by 112 percent in Nigeria
While Starlink has not officially addressed the reasons behind the price increment, the timing of the move coincides with Nigeria’s recent currency devaluation.
Tony Elumelu advocates privatization of Nigeria’s electricity transmission lines
Elumelu urged the government to facilitate the transfer of idle gas assets or fields to capable Nigerian investors, fostering gas-related investments and efficient electricity production.
Nigerian entrepreneur Oluwasoga Oni leads startup to secure $3 million from investors
The pre-Series-A funding round brings MDaaS Global’s total funding since its inception to $6.8 million.