Dangote Refinery IPO could push Nigeria’s stock market over $140 billion
Aliko Dangote’s $20 billion refinery IPO may push Nigeria’s stock market above $140 billion, opening shares to local and global investors.
West & Central Africa
Nigerian billionaire Arthur Eze’s Atlas Oranto cites $45 million investment before Senegal license loss
Atlas Oranto spent $45 million on Senegal exploration and staff training before the government revoked its offshore license.
Aliko Dangote’s refinery benefits as Europe, U.S. shut fuel plants
Aliko Dangote’s refinery gains global importance as U.S. and European shutdowns tighten fuel supply in the Atlantic Basin.
Nigerian businessman Tony Elumelu joins Seplat Energy as non-executive director
Seplat said Tony Elumelu’s experience will strengthen board oversight as the company pursues growth in Nigeria’s evolving energy market.
Abdul Samad Rabiu’s BUA Cement plans 20 million-tonne capacity with $240 million expansion
Abdul Samad Rabiu’s BUA Cement plans a $240 million expansion to lift production capacity to 20 million tonnes within 20 months.
Seplat begins ANOH gas production weeks after Tony Elumelu’s Heirs Energies takes $500 million stake
Seplat Energy begins ANOH gas production, increasing Nigeria’s gas supply and supporting industrial and domestic energy needs.
Nigerian software engineer Shola Akinlade's Paystack reorganizes under holding firm after profitability
Paystack restructures under The Stack Group after turning profitable, uniting payments, banking and new ventures under a holding company.
Nigerian billionaire Abdul Samad Rabiu’s BUA Cement plans to nearly double production capacity
Nigerian billionaire Abdul Samad Rabiu’s BUA Cement plans to nearly double annual production from 11 million to 20 million tonnes.
Aradel, led by Nigerian executive Adegbite Falade, gains majority stake in Renaissance
Aradel Holdings becomes the largest shareholder in Renaissance Africa Energy after a $250 million acquisition boosts its stake to 53.3 percent.
FCMB, led by Nigerian banker Ladi Balogun, expects Q1 earnings to top $40 million
FCMB, led by Nigerian banker Ladi Balogun, forecasts Q1 2026 profit to reach $44 million amid strong banking growth.
Senegal revokes Nigerian billionaire Arthur Eze’s offshore exploration license
Senegal revokes Nigerian billionaire Arthur Eze’s Atlas Oranto offshore license after years of unmet obligations.
Gilbert Chagoury, billionaire behind Banana Island, Eko Atlantic, wins top Nigerian honor
Gilbert Chagoury, billionaire developer of Banana Island and Eko Atlantic, receives Nigeria’s Grand Commander of the Order of the Niger.
Geregu Power posts nearly $30 million profit under Nigerian businessman Abdulaziz Yari
Geregu Power reports $29.53 million profit, $130.17 million revenue, and strong dividends under Nigerian businessman Abdulaziz Yari.
Shola Akinlade’s Paystack targets Nigeria’s $32 billion financing gap for small businesses
Shola Akinlade is expanding Paystack beyond payments, using banking and data to help close Nigeria’s $32 billion small business financing gap.
Idrissa Nassa's Coris Bank takes full control of Cape Verde bank
Coris Bank, led by Idrissa Nassa, completes takeover of Cape Verde’s BCA, expanding its African banking footprint.
Aliko Dangote’s cement company awards $10.5 million to distributors across Africa
Aliko Dangote’s Dangote Cement rewards top African distributors with $10.5M in cash, vehicles, and prizes, highlighting growth plans.