Backed by South Africa’s richest man, RCL to unbundle and list Rainbow Chicken
RCL Foods is 77-percent owned by Remgro, an investment holding company controlled by South Africa’s richest man Johann Rupert.
Nigerian billionaire
Africa’s richest man Aliko Dangote set to earn $284.5 million from Dangote Cement
The dividend, which will be paid electronically into his bank account by Mon., April 29, 2024, is a testament to Dangote Cement’s impressive fiscal results.
Nigerian tycoon Tony Elumelu to list Transcorp’s Power assets on NGX, targets $1.1 billion market cap
The listing, scheduled for Mar. 4, aims to generate value for investors and signifies a pivotal move in the conglomerate’s commitment to creating value from its business units.
Femi Otedola’s First Bank reiterates commitment to empower FMCG distributors
FBN Holdings, led by Nigerian billionaire Femi Otedola, is doubling down on its commitment to supporting local businesses.
Cement company of Africa’s richest man Aliko Dangote records $282-million profit in 2023
Dangote Cement records impressive 19-percent surge in profit, delivers strong financial performance amid challenging economic environment.
Femi Otedola’s FBN Holdings emerges as Nigeria’s most valuable banking group
As of the close of trading on Mon., Feb. 25, FBN Holdings’ market capitalization reached an impressive N1.22 trillion ($791.1 million).
Nigerian billionaire TY Danjuma unveils eye hospital in Taraba State
The launch of the eye hospital, signifies a significant milestone in TY Danjuma’s dedication to advancing healthcare infrastructure and addressing health issues in Nigeria.
Africa’s richest man Aliko Dangote faces $1.4-billion net worth plunge in 24 hours
The major driver behind this sudden fall is the recent decline in the market value of his substantial holdings in Dangote Cement Plc.
Nigeria’s second-richest man declares 50-percent salary increase across his group
This highlights Rabiu’s dedication to supporting his entire workforce during tough economic times, acknowledging the challenges faced by his employees.
Nigerian billionaire Abdul Samad Rabiu’s BUA Foods invests $200 million in sugar estate
The conglomerate is majority-owned by Nigeria’s second-richest man, Abdul Samad Rabiu, and his son, Isyaku Naziru Rabiu.
Nigerian billionaire Femi Otedola’s net worth rises by $300 million despite naira devaluation
The upswing in Otedola’s net worth is attributed to the remarkable performance of his 78.64-percent stake in Geregu Power Plc.
Food business of Nigeria’s second-richest man faces uncertainty amid FX rate volatility
BUA Foods Managing Director Ayodele Abioye unveils BUA Foods’ struggle with FX rate instability.
Nigerian billionaire Femi Otedola’s Geregu Power surpasses N2-trillion milestone
Geregu Power’s exceptional financial performance has solidified its position as one of Nigeria’s most profitable entities.
Mega refinery owned by Africa’s richest man set to export two cargoes of fuel oil
Trafigura Group, a multinational commodity trading company headquartered in Singapore, has been awarded the contract for the inaugural shipment.
Nigerian banker Herbert Wigwe dies in helicopter crash
Wigwe died on Saturday in a helicopter crash in the United States.
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.