Led by wealthy Ivorian Billon family, Palmci’s market cap slumps by $58.9 million in 138 days
Jean-Louis Billon has been instrumental in the growth of Palmci.
West & Central Africa
Nigerian tycoon Herbert Wigwe to pocket $700,000 in interim dividends from Access Holdings
Access Holdings is Nigeria’s largest financial services group in terms of assets.
Senegalese-born TikToker Khaby Lame could earn as much as $10 million this year
Lame has become a global influencer in recent years.
Babs Ogundeyi-led Kuda Bank records over $14 million in losses in 2021
The loss has sparked a discussion about how well modern fintech firms are actually doing in Nigeria.
Nigerian billionaire Mike Adenuga loses $9.2 million in 110 days from stake in Conoil
Adenuga holds a majority 74.4-percent stake in the petroleum marketing firm.
Ghanaian founder Gregory Rockson’s mPharma acquires majority stake in HealthPlus
mPharma manages pharmaceutical inventories for African mom-and-pop pharmacies.
Herbert Wigwe’s Access Holdings announces first-ever interim dividend as profits surge above $205 million
Earnings growth at the bank was hampered by increased fee and commission expenses.
Senegalese entrepreneur Fatoumata Ba-led Janngo Capital hits first close for $63-million fund
Ba is a Senegalese venture capitalist and tech entrepreneur.
Greek businessman John Coumantaros’ Flour Mills to raise $467 million in new capital
Coumantaros controls a majority 63.34-percent stake in the company.
Nigerian billionaire Tony Elumelu to receive $1.11 million in interim dividends from UBA
Elumelu owns 6.96 percent of UBA, or 2,380,941,756 ordinary shares.
Aliko Dangote drops out of list of top 80 billionaires as net worth slumps
The decline in his net worth can be attributed to the fall in the share price of Dangote Cement.
Ecobank names Kenyan banking exec Jeremy Awori as CEO
Awori is joining Ecobank after 25 years in the banking industry.
Seplat spent $450 million in transactions linked to Nigerian energy magnates Bryant Orjiako, Austin Avuru
The payments were made to 18 firms linked to Orjiako and Avuru.
Nigerian multimillionaire banker Jim Ovia loses nearly $22 million in 11 days
Ovia owns a significant 16.2-percent stake in Zenith Bank.
Nigerian banker Tony Elumelu’s UBA posts $164 million in profit in H1 2022
Elumelu owns a sizable 6.96-percent stake in the banking group, or 2,380,941,756 ordinary shares.
French businessman Jeremy Hodara’s Jumia partners with Zipline to pioneer drone delivery across Africa
Jumia is Africa’s leading e-commerce platform.