Transcorp’s market cap up by $55 million following Femi Otedola’s acquisition
The company’s market capitalization has surged by $42 million since the news of the acquisition broke on April 12.
West & Central Africa
Aliko Dangote hits $20-billion net worth, joining elite ranks of world’s billionaires
The surge in Dangote’s net worth makes him the 82nd richest man in the world.
Segun Agbaje-led GTCO records $367.4-million profit in 2022
Agbaje emphasized the group’s commitment to sound business strategies and strong fundamentals.
Led by Peter Ashade, United Capital rakes in $5.3 million in profit in Q1 2023
United Capital is an investment bank and a pan-African financial services group led by Ashade.
Aliko Dangote promises higher returns for Dangote Cement’s shareholders
Dangote Cement achieved its highest revenue in history at the end of its 2022 fiscal year.
Tony Elumelu’s UBA posts record-breaking Q1 profit of $116 million
Elumelu, a widely respected business executive on the continent, holds a significant 6.9-percent stake in UBA.
Shelter Afrique eyes African diaspora after funding Paul Onwuanibe’s firm
Shelter Afrique recently invested $24 million in Landmark Africa Group.
John Coumantaros takes $30-million hit from Flour Mills investment
Coumantaros’ 63.34-percent stake in the agro-allied group is still up by over $6 million since the start of the year.
Nigerian billionaire Femi Otedola now one of Transcorp’s top shareholders
Otedola now holds a 5.52-percent stake in Transcorp, making him one of the conglomerate’s top shareholders.
Abdul Samad Rabiu donates $11.8 million to 22 Nigerian institutions
ASR Africa is a nonprofit foundation founded by Rabiu in April 2021.
Nigerian oil tycoon Gabriel Ogbechie’s Rainoil launches mega filling station
Rainoil is a key player in Nigeria’s oil industry.
Nigerian billionaire Mike Adenuga’s net worth drops by $100 million
Adenuga remains one of Nigeria’s and Africa’s top billionaires.
Nigerian entrepreneur Damilola Olokesusi leads ride-sharing platform to raise $4 million
Since its inception in 2016, Shuttlers has raised a total of $5.6 million from institutional investors.
Nigerian multimillionaire MMA fighter Israel Adesanya packs $2-million payout
Adesanya will earn $2 million, which includes a $1-million guaranteed payout and additional sponsorships and pay-per-view earnings.
Nigerian entrepreneur Ikenna Nzewi is disrupting Africa’s food industry
Nzewi has seen incredible success in transforming the sale of high-quality raw materials to food factories in Africa.
$100,000 investment in Femi Otedola’s firm 6 months ago is now worth $320,000
In the past six months, the market cap of Otedola’s Geregu Power has risen by $1.21 billion to $1.75 billion.