Serena Williams’ VC firm backs Nigerian entrepreneur Preston Ideh’s Stears
Ideh said the funds will be used to broaden Stears’ product breadth.
West & Central Africa
Nigerian billionaire Femi Otedola’s Geregu Power posts $47 million in profit in 2021
Geregu Power is 80-percent owned by Otedola.
Nigerian gaming tycoon Kunle Soname’s ValueJet to commence regional flights this week
Soname’s move into the aviation sector is aimed at helping to lower the cost of airline tickets for Nigerians.
Egyptian tycoon Hend El-Sherbini’s IDH launches sixth Al-Borg Scan branch in Cairo
El-Sherbini controls a 26.1-percent stake in the group.
Nigerian businessman Tony Elumelu pledges support to female farmers
Elumelu has played a crucial role in supporting young businesspeople in Africa.
Cement plant owned by Aliko Dangote’s Dangote Cement under ‘lock and key’ as state gov’t plans recovery
The Obajana Cement Factory opened in 2008.
Within 24 hours of NGX listing, Nigerian billionaire Femi Otedola’s Geregu Power gains $120 million
Geregu Power is majority owned by Otedola.
Nigerian banker Herbert Wigwe’s Access Holdings to become majority shareholder in Finibanco Angola
Wigwe owns 4.26 percent of the pan-African conglomerate.
Nigerian billionaire Femi Otedola’s Geregu Power completes listing on Nigerian Exchange
The power-generating company was acquired in 2013 by Otedola.
Nigerian entrepreneur Tola Adesanmi’s proptech startup, Spleet, raises $2.6 million to drive expansion
Adesanmi and Dolapo Adebayo founded Spleet after returning to Nigeria from the UK in 2018.
Nigerian banking magnate Jim Ovia has now lost $60.4 million from stake in Zenith Bank
He is on course to earn an interim dividend of $3.6 million from his stake in the bank.
Ghana’s richest investor Daniel Ofori has now lost nearly $10 million from stake in GCB Bank
Ofori, the wealthiest shareholder on the Ghana Stock Exchange, owns 7.49 percent of GCB Bank.
Nigerian billionaire Femi Otedola’s power company eyes $579-million market cap
The company has an implied valuation of $579 million.
Africa’s richest man Aliko Dangote loses $400 million in September
His net worth plunged from $19.1 billion at the start of the month to $18.7 billion.
Nigerian-Lebanese tycoon Bassim Haidar plans to launch BNPL e-commerce product in South Africa
The product will provide e-commerce suppliers with a cost guarantee.
Nigerian banking tycoon Herbert Wigwe gains $2.1 million in five days as Access Bank shares rebound
Wigwe owns a significant 4.27-percent stake in the bank.