Nigerian tycoon Kessington Adebutu’s Wema Bank plans $98.9 million rights issue
The offering includes 14.29 billion shares priced at N10.45 ($0.007) each, reinforcing the bank’s efforts to strengthen its financial position.
Nigerian tycoon
Seplat, co-founded by Nigerian tycoon Austin Avuru, to pour $320 million into onshore expansion in 2025
The company’s capital expenditure guidance for 2025 includes between $180 million and $220 million allocated to its Seplat Onshore division.
Nigerian tycoon Aisha Achimugu partners with Global Petroleum Group on $1.8-billion Grenada oil project with $8-billion potential
Nigerian energy leader Aisha Achimugu and Oceangate join forces with GPG to develop Grenada’s offshore oil and gas reserves.
Fidson, owned by Nigerian tycoon Fidelis Ayebae, strikes deal to establish pharmaceutical plant
The deal is part of a broader initiative to enhance self-sufficiency in Africa’s healthcare infrastructure, particularly in the battle against HIV.
Nigerian tycoon Dozy Mmobuosi faces $250-million fine and U.S. corporate ban
A U.S. federal court has ordered Mmobuosi to pay over $250 million in fines and barred him from serving as a director of any public company.
Gabonese tycoon Samuel Dossou-Aworet’s $86-million stake in London-based Tullow highlights global energy interests
Dossou-Aworet leads Petrolin Group, a powerhouse in Africa's oil and gas sector, where he has brokered landmark deals and investments since 1992.
Nigerian oil magnate Wale Tinubu’s Oando resumes trading on Johannesburg Stock Exchange
Oando’s return to JSE is seen as a positive boost for investor confidence and market position under Wale Tinubu’s leadership.
Nigerian energy tycoon Austin Avuru’s Seplat seals $1.28-billion deal with ExxonMobil and NNPCL
The NNPCL announced on May 30, 2024, the formalization of an agreement that transfers ExxonMobil’s interests in Mobil Producing Nigeria Unlimited (MPNU) to Seplat.
Nigerian tycoon Temitope Lawani-linked Vivo Energy completes acquisition of Engen from Petrona
The merger of Vivo Energy and Engen marks a significant development in the African energy sector.
Nigerian energy tycoon Austin Avuru’s Seplat to boost gas production by 390 mmscfd
The announcement coincides with Seplat celebrating its rise from a vision shared by co-founders Ambrosie Bryant Chukwueloka Orjiako and Avuru to a prominent African energy player.
Nigerian tycoon Tony Elumelu’s UBA delivers $102.25-million profit in Q1 2024
Under Elumelu’s leadership, UBA’s total comprehensive income for the period also rose, from N51.03 billion ($36.56 million) to N581.47 billion ($416.7 million).