Nigerian billionaire’s cement firm commences operations at multimillion-dollar plant line
BUA Cement has solidified its position as Nigeria’s second-largest cement producer.
Nigeria
Nigerian banker Herbert Wigwe-led Access Bank ventures into Hong Kong market
Wigwe highlighted the significance of Access Holdings’ presence in the Hong Kong market, emphasizing its potential to boost cross-continental trade.
Nigerian billionaire Aliko Dangote sees wealth surge by $400 million, cements status as Africa’s richest
Dangote’s net worth has risen from $15.8 billion on Dec. 1 to $16.2 billion — the recent uptick has narrowed his year-to-date wealth losses to $2.49 billion.
This Week In Review: A Snapshot of African Wealth Dynamics — Fortune of Swazi Legend Natie Kirsh On The Rise (Dec. 11 to 15)
A concise look at the most significant events in African wealth dynamics over the past week.
U.S.-Nigerian mogul Sam Darwish’s IHS proposes new terms to keep MTN Towers
Founded in 2001 by Darwish, IHS has solidified its position as the largest telecom infrastructure group in Africa, Europe, Latin America, and the Middle East.
Nigerian banker Herbert Wigwe gains $12 million from Access Bank shares
Wigwe, who serves as the group managing director and CEO of Access Holdings, holds a substantial 9.09-percent stake in the leading financial services provider.
Tony Elumelu rakes in $14 million as UBA becomes a billion-dollar bank
The recent 23.73-percent surge in UBA’s shares over the past 48 days has strengthened its position as one of the most valuable companies on the Nigerian Exchange.
Femi Otedola’s power company aims for $39.56 million in revenue in Q1 2024
Geregu Power aims to double revenue in the first quarter of 2024 despite operating challenges.
Refinery owned by Africa’s richest man to generate $27-billion annual revenue
The complex will initially focus on producing diesel, aviation fuel, and gas, with petrol production planned for a later stage.
African billionaires’ families absent from global top 25 richest families ranking
As the Al Nahyan family claims the top spot with a $305-billion fortune, the absence of African billionaire families highlights the stark disparities in wealth accumulation.
Aliko Dangote’s refinery set to commence operation as first crude stock arrives
This comes shortly after the mega refinery received its license to refine over 300,000 barrels of Nigerian crude daily in November.
Otedola becomes second Nigerian billionaire with stakes in two companies worth over 1 trillion naira
With his strategic investments and relentless pursuit of excellence, Otedola continues to make significant contributions to the Nigerian economy and beyond.
Startup led by U.S.-based Nigerian entrepreneur to acquire Tosin Eniolorunda-backed PayDay
Bitmama, led by CEO Ruth Iselema, has reportedly extended an offer of $1 million in equity in the crypto company to Payday investors.
Nigerian energy tycoon Bryant Orjiako’s stake in Seplat surges by $30 million
Orjiako, a former director of the Lagos-based energy conglomerate, holds a 6.43-percent stake in Seplat Energy.
Billionaire Mike Adenuga-linked Julius Berger delivers $425-million bridge to Nigerian gov’t
Julius Berger, the renowned construction giant partly owned by Nigerian billionaire Mike Adenuga, has officially handed over the N336 billion ($425.6 million)…
Nigerian tycoon Tony Elumelu’s UBA inks $6-billion deal to boost small businesses across Africa
Babatunde Ajayi, the head of SME Banking at UBA, spoke about the initiative during the Nigerian Canadian Business Association Business 2023 Roundtable held in Lagos.