Ventures Platform closes $84 million fund after backing Moniepoint and Paystack
Ventures Platform closed its second fund at $84 million, above a $75 million target, with EBRD and Norfund joining as new investors.
West & Central Africa
Aliko Dangote to buy ships as Nigeria vessel shortage bites
Dangote plans to acquire its own ships after failing to find a vessel to move 1,000 tonnes of cement to Ghana, exposing Nigeria's export shipping shortage.
Nigerian billionaire Femi Otedola spends $9 million more on First HoldCo shares
Femi Otedola bought 95.7 million more First HoldCo shares at N131.48 on Monday, paying 6.1% less than he did ten days ago as the stock retreated.
Burkinabè billionaire Idrissa Nassa's Coris Bank commits $712 million to hospitals and schools
Idrissa Nassa's Coris Bank has committed to mobilise $712 million for four university hospitals and 27 schools under a memorandum signed in Ouagadougou.
Aliko Dangote pledges $432,000 for a Lagos girls' hostel and jobs for first-class graduates
The Aliko Dangote Foundation has pledged ₦600 million for a girls' hostel at Lagos State University and jobs for first-class graduates.
Wealthy Nigerian politician Abdulaziz Yari personally settles Geregu Power's defaulted bond
Geregu Power chairman Abdulaziz Yari has personally provided the funds to clear the company's N40.09 billion ($29 million) bond after a recent default.
Gaming mogul Mr Eazi plans an NGX listing
Mr Eazi told Nairametrics he intends to list a technology company on the Nigerian Exchange, citing Dangote, Rabiu and Otedola as inspiration.
Aliko Dangote is $5 billion richer since the Iran war closed the Strait of Hormuz
Aliko Dangote's Lagos refinery has become Europe's largest supplier of jet fuel and diesel since Iran closed the Strait of Hormuz.
Nigerian billionaire Aliko Dangote to run Kano vocational center in 20-year deal
The Nigerian billionaire has signed a 20-year deal with the Kano State Government to revive the Aliko Dangote Vocational Training Centre for young people.
Nigerian billionaire Aliko Dangote's refinery secures $1 billion backing ahead of planned IPO
Aliko Dangote's petroleum refinery has completed a $1 billion underwriting program, including a funded $600 million private placement, ahead of its planned initial public offering.
Nigerian energy tycoon Olakunle Williams's Tetracore crosses 1 million safe man-hours
Olakunle Williams's Tetracore Energy has logged 1 million cumulative work hours without a lost-time injury, fatality or major incident while expanding across Nigeria and Ghana.
Billionaire Femi Otedola spends another $14.9 million on First HoldCo as stake hits 27.5%
Femi Otedola bought 147.7 million First HoldCo shares at N140, lifting his stake to about 27.5% and his holding past 12.2 billion shares.
Cameroonian billionaire Paul Fokam Kammogne's Congolese bank is $117 million in the red
Afriland First Bank RDC has negative equity of $116.9 million four years after Paul Fokam Kammogne's group was pushed out by regulators.
Nigerian defense-tech startup Terra Industries closes Africa's largest seed round at $52 million
The Nigerian defense-technology company raised an additional $18 million to close what it called Africa's largest seed round, lifting the total to $52 million.
EFCC transfers $60 million recovered from Ernest Azudialu-Obiejesi's Nestoil to lenders
Nestoil has paid $60 million to its lenders under an EFCC-brokered plan, ten weeks after the Supreme Court dissolved its asset freeze.
Late Nigerian banker Herbert Wigwe's university has a fifth of the students he planned
Herbert Wigwe planned 1,400 students in his university's first year. As tributes marked his 60th birthday, it has about 300.