Aliko Dangote reclaims title of richest investor on NGX, as Dangote Cement stake skyrockets to $6.6 billion
The surge in the shares of Dangote Cement, Africa’s largest cement company, was the driving force behind Dangote’s resurgence.
West & Central Africa
Nigerian tycoon Wole Oshin loses $1.2 million in one week from stake in Custodian Investment
As the company’s largest shareholder, Oshin holds a 26.81-percent stake in Custodian Investment.
GIPLC disburses funds raised at Igho Sanomi charity event for sick children
Sanomi, a prominent Nigerian business leader, is recognized not only for his success but also for his philanthropy.
Tony Elumelu’s wife, Awele, loses $2.6 million in six days as Transcorp shares slump
With the acquisition of an additional 7.3 million shares in Transcorp in June, Awele Elumelu’s total holdings in the company now stand at an impressive 2,070,794,804 shares.
Geregu surpasses $1 billion market cap as Otedola partners AFDB to build Nigeria’s first-ever PPP power transmission project
This recent boost follows reports that Otedola is partnering with the Lagos State government to develop a power transmission project.
5 companies owned by Nigerian billionaire Femi Otedola
As one of Africa’s richest individuals, Otedola continues to wield significant influence in Nigeria’s economic landscape.
Nigerian energy tycoon Tope Shonubi invests $142 million in two LPG vessels
Shonubi is a co-founder and CEO of Sahara Group, a conglomerate with oil production, electricity generation, and oil trading operations.
Nigerian billionaire Aliko Dangote plans new cement plants for expansion
Dangote is set to expand the production capacity of Dangote Cement by constructing a new integrated cement plant in Itori, Ogun State.
Herbert Wigwe’s Access Holdings to acquire Standard Chartered’s Sub-Saharan Africa business
Wigwe owns a 9.09-percent stake in Access Holdings, or 3,230,789,014 ordinary shares in the lender.
Over $20 million vanishes from Nigerian tycoon Victor Odili’s MTN Nigeria stake in a month
Victor Odili, regarded as one of Nigeria’s wealthiest businessmen, has a 3.96 percent stake in MTN Nigeria.
Nigerian banker Herbert Wigwe’s Access Holdings gains majority control of Angolan bank, Finibanco
Wigwe holds a 9.09-percent stake in Access Holdings, or 3,230,789,014 ordinary shares.
Congolese Rawji family’s Rawbank reports record-breaking $80 million in profit in 2022
Rawbank was launched in 2002 by the Rawji family, which possesses diverse business interests in the DRC under the Rawji Group.
Nigerian tycoon Dahiru Mangal’s Max Air suspended over safety concerns
Mangal, the owner of Max Air, owns Afdin Group, which owns an LPG Plant, rice mills and fertilizer blending plants.
Shell alleges Nigerian billionaire Benedict Peters’ Aiteo owes $2.6 billion in oil loans
In the face of the recent lawsuit, Peters is scheduled to hold a crucial meeting with officials from the Zimbabwean government.
Dangote’s sugar business to merge with rice- and salt-processing outfits, creating giant food conglomerate
The merger between Dangote Sugar and Nascon, along with Dangote Rice, is among the matters to be deliberated during the upcoming board of directors meeting.
Mike Adenuga’s Conoil stake nears $75 million with $22-million boost
Adenuga, one of Africa’s richest billionaires, owns a majority stake of 74.4 percent in Conoil Plc.