Nigerian billionaire Aliko Dangote’s Dangote Industries completes $452-million bond issuance
The proceeds from the landmark transaction will be used to part-finance the Dangote Oil Refinery Project.
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The proceeds from the landmark transaction will be used to part-finance the Dangote Oil Refinery Project.
Rabiu is one of the continent’s wealthiest businessmen, with a $7-billion net worth.
Danjuma is known for founding the oil exploration company South Atlantic Petroleum.
BUA Group has emerged as one of Africa’s fastest-growing manufacturing conglomerates.
The $100-million increase in his net worth in June follows a $300-million decline in May.
Elumelu is the chairman of Heirs Holding.
Rabiu is now Africa’s fifth-richest man.
Adenuga derives the majority of his wealth from his telecom company and his investments in the Nigerian oil industry.
But with his fortune of $20.3 billion, he remains Africa’s richest man.
The transaction is expected to have an impact on Otedola’s dividend earnings.
So far this year, the company’s share price has increased by 45.4 percent.
The total value of Rabiu’s shares in publicly traded companies is now more than $8.6 billion.
Otedola is the largest stakeholder in the financial services provider.
Dangote’s net worth has risen by more than $1.88 billion this year.
BUA Group is a leading food, infrastructure, mining and manufacturing conglomerate.
Dangote derives the majority of his net worth from his 86-percent stake in Dangote Cement.