Companies and ventures linked to the late Nigerian banker Herbert Wigwe
From transforming Access Bank into Access Holdings to visionary ventures like Tengen Holdings, HOW Foundation, and the upcoming Wigwe University.
Nigeria
Nigerian billionaire Femi Otedola to pocket $17.6 million from Geregu Power in March
The dividend solidifies Otedola’s position among Nigeria’s top dividend earners and adds another financial milestone to his already impressive portfolio.
Billionaire Benedict Peters’ Aiteo partners with Atlantic Council to elevate Africa’s critical mineral influence
The groundbreaking collaboration sets the stage for a three-year program aimed at harnessing Africa’s substantial reserves of critical minerals.
Companies owned by Nigerian insurance tycoon Wole Oshin
Oshin is not only the largest shareholder in the Lagos-based investment group but also ranks among Nigeria’s wealthiest investors.
Africa’s richest man to take two companies public, says NGX Chairman Umaru Kwairanga
Kwairanga said the Dangote Oil Refinery and Dangote Fertilizer Company are slated for listing on the exchange imminently.
Nigerian tycoon Taiwo Afolabi’s Sifax Group partners Singaporean firm on aviation development
Afolabi emphasized the consortium’s commitment to leveraging its track record of success in revitalizing enterprises for growth and profitability.
Nigerian tycoon Fidelis Ayebae’s Fidson achieves revenue exceeding $37 million in 2023
The surge in revenue is linked to the heightened sales of ethical products, including infusions, capsules, and tablets.
South African billionaire Stephen Saad suffers $36-million loss in 33 days
Despite the recent stock dip, Saad remains a prominent investor on the Johannesburg Stock Exchange and maintains his status as one of South Africa’s leading businessmen.
Naira devaluation costs Nigerian billionaire Abdul Samad Rabiu $2.7 billion
According to Forbes, Rabiu’s net worth, which soared to $8.4 billion in January 2024, dropped to $5.7 billion.
Nigerian billionaire Mike Adenuga’s oil firm rakes in over $140 million in revenue in 2023
Adenuga, renowned telecom mogul and one of Africa’s wealthiest billionaires, owns a 74.4-percent stake, equivalent to 516,298,603 shares, in Conoil.
Africa’s richest man Aliko Dangote loses $5.7 billion as naira devaluation hits hard
The primary cause behind this abrupt plunge in Dangote’s wealth is attributed to the revaluation of his assets, triggered by the recent devaluation of the Nigerian naira.
U.S.-Nigerian telecom tycoon Sam Darwish loses $16.6 million from IHS stake
Darwish, the chairman and CEO of IHS, who ranks as one of the top figures in the African telecom industry, holds a substantial 4.17-percent stake in the group.
Africa’s richest man Aliko Dangote gains $7.11 billion in January 2024
According to the Bloomberg Billionaires Index, his wealth surged from $15.1 billion on Jan. 1 to $22.2 billion on Jan. 31, marking a $7.11-billion increase.
Nigeria’s second-richest man’s food business hits $610-million revenue in 2023
The surge in revenue is attributed to price adjustments and volume increases from capacity expansion for IRS.
Billionaire Femi Otedola made chairman of Nigeria’s First Bank
The decision to elevate Otedola to the position of chairman was reached at a board meeting today.
Greek businessman John Coumantaros loses $24.5 million from Flour Mills stake
Coumantaros faced significant losses as the company’s shares took a recent hit on the Nigerian Exchange.