Aliko Dangote loses $700 million in July amid stock market sell-off, naira slump
However, he remains one of the few billionaires who has seen impressive gains since the year began.
West & Central Africa
Aliko Dangote’s salt-processing business NASCON records more than $3.7 million in profit in H1 2022
NASCON is a subsidiary of Dangote Group.
Kenya’s Kirubi family to pocket $1.02-million dividend from stake in Centum Investment
The million-dollar dividend will be deposited into the family’s bank account at a later date.
Nigerian billionaire Abdul Samad Rabiu’s BUA Cement posts $147.7 million in profit in H1 2022
The double-digit rise in earnings was driven by increased revenue from $299.3 million to $454.1 million.
British-Nigerian entrepreneur Ladi Delano’s Moove partners with Uber to launch India ride-hailing fleet
The move marks Moove’s first global expansion outside of Africa.
Nigerian billionaire Aliko Dangote urges government to complete OB3 Pipeline
His group recently completed a bond issuance to fund the completion of the $19-billion Dangote Oil Refinery.
Nigerian billionaire Abdul Samad Rabiu unveils $3-million development initiative for Niger
Rabiu, Africa’s fifth-richest man, is presently worth $6.3 billion, according to Forbes.
Africa’s richest man Aliko Dangote loses $1.1 billion in two months as Dangote Cement shares fall
Dangote’s net worth is still up by $832 million this year.
Nigerian billionaire Abdul Samad Rabiu receives $208 million in dividends from cement business
Rabiu is also on track to earn another $151.66 million in dividends from his newly consolidated food business, BUA Foods.
Cameroonian mogul Samuel Foyou’s group plans to review share capital of subsidiary, Plasticam
Foyou, one of Cameroon’s wealthiest men, derives his fortune from the hotel, food, and printing industries.
Nigerian billionaire Aliko Dangote’s Dangote Industries completes $452-million bond issuance
The proceeds from the landmark transaction will be used to part-finance the Dangote Oil Refinery Project.
Nigerian billionaire Tony Elumelu says UBA’s global expansion incomplete without Gulf
UBA’s entry into the Middle East comes just six months after Elumelu publicly disclosed his interest in investing in the Caribbean.
Nigerian banking mogul Herbert Wigwe’s Access Holdings raises $1.7 million to support education in Nigeria
Wigwe said the funds will serve as a foundation for attaining a better future for the nation.
Led by Nigerian banker Peter Ashade, United Capital earns more than $10 million in profit in H1 2022
Profit for the six-month period ending June 30 increased by more than 41 percent, from $7.38 million in the first half of 2021 to $10.42 million.
Nigerian businessman Tony Elumelu’s UBA opens new branch in Dubai
The opening brings UBA’s global presence to 24 countries and four continents.
Buhari sends congrats as Abdul Samad Rabiu reappointed as head of France-Nigeria Business Council
Rabiu is one of the continent’s wealthiest businessmen, with a $7-billion net worth.