Femi Otedola drives parent firm of Nigeria’s oldest bank to $16 billion in assets
His leadership has helped push the group’s total assets past $16 billion, a milestone for the Lagos-based financial services provider.
Nigeria
IHS Nigeria powers relief efforts with solar boreholes for Maiduguri flood victims
The boreholes, part of IHS Nigeria’s ongoing collaboration with UNICEF, are designed to help prevent waterborne diseases and mitigate health risks for flood-affected residents.
Nascon reports mixed results amid revenue surge and profit decline
Despite revenue gains, net profit fell 18.64% to N8.96 billion ($5.45 million) due to rising costs.
Transcorp Power to boost Nigeria’s national grid by 150 megawatts
This is part of a broader strategy to combat the ongoing energy shortages that have long plagued the nation.
Access Bank gains approval to acquire National Bank of Kenya in $100-million deal
This move is designed to enhance Access Bank's footprint in Kenya’s burgeoning financial market, reflecting the institution's commitment to expanding its presence in East Africa.
Moniepoint secures $110 million in Series-C round backed by Google
This funding will elevate the company’s digital payment and banking capabilities, reinforcing its commitment to revolutionizing financial services across Africa.
Femi Otedola leads FBN Holdings to $371.9 million profit in 9M 2024
FBN Holdings posts robust financial results as profit surges 125 percent under Femi Otedola’s leadership.
Dangote Group commits $280 million to CNG technology for Nigeria’s low-carbon future
The move aligns with President Bola Tinubu’s push to make gas central to Nigeria’s low-carbon economy.
Dangote Cement revenue surges 69 percent to $1.56 billion in nine months
Pan-African operations drive growth; profit margins remain steady despite rising costs.
Haldane McCall targets $7.3-million market cap ahead of NGX listing
The listing reflects Haldane McCall’s commitment to expanding investment opportunities within Nigeria’s real estate and hospitality sectors.
Aradel Holdings sees $517-million market cap drop amid investor sell-off
The selloff coincides with Nigeria’s decision to reject Shell’s plan to offload its onshore oil assets to a consortium that includes Aradel, alongside ND Western and Waltersmith.
UBA posts $320.9-million profit in 9M 2024
This growth was bolstered by improved fee income and robust foreign exchange earnings, highlighting UBA's adaptability in volatile markets.
Eterna launches Jet-A1 fuel operations at Lagos airport
This strategic initiative represents a substantial expansion in the company’s aviation fuel services portfolio.
Oando targets 100,000 barrels of oil per day amid global expansion plans
Irune highlighted the company’s focus on deepening regional investments while working closely with local governments and host communities.
Flour Mills plans $1-billion investment in Nigeria over four years
The announcement follows a move by its majority shareholder, Excelsior Shipping Company, to buy out minority shareholders and take the company private.
Grid Africa secures $2.8 million to boost solar projects in South Africa
The move aims to boost renewable energy projects in South Africa, as the country grapples with an increasingly strained power sector.