Mike Adenuga’s Conoil reports record $6.5 million profit in Q1 2023
Adenuga controls a majority stake of 74.4 percent in Conoil.
West & Central Africa
Nigerian billionaire Abdul Samad Rabiu rockets to prominence on Bloomberg’s billionaires’ list
Rabiu joins Bloomberg’s billionaires’ list, showcasing Africa’s rising business leaders.
Greek multimillionaire John Coumantaros makes $8.94 million in profit in 37 days from Flour Mills stake
Coumantaros holds a 63.34-percent stake in Flour Mills.
American-Nigerian mogul Sam Darwish’s IHS misses expectations with Q1 profit of $7.6 million
IHS Holding ranks as the largest telecom infrastructure group in Africa, Europe, Latin America, and the Middle East.
Nigerian billionaire banker Jim Ovia scores $43-million gain from Zenith Bank stake
Ovia’s stake in Zenith Bank soars, adding $42.93 million in value in 34 days amid a bullish market.
Aliko Dangote unveils $20.5-billion mega-refinery, fuel production set to begin in June
Dangote has unveiled his $20.5-billion mega-refinery, propelling Nigeria’s oil industry and economy to new heights.
Nigerian businessman Tony Elumelu’s stake in UBA now worth $44 million
Elumelu’s strategic acquisition boosts stake in UBA to $44 million, cementing position as one of Nigeria’s leading investors.
Africa’s richest man Aliko Dangote’s fortune surges by $1.81 billion in 2023
Dangote’s fortune surges by $1.81 billion in 2023, fueled by Dangote Cement’s remarkable performance.
Ghanaian tycoon Daniel McKorley’s McDan Aviation boosts operations with two new aircraft
McKorley’s McDan Aviation expands fleet with two new aircraft, elevating luxury air travel in Ghana and West Africa.
Nigerian banking legend Subomi Balogun dies at 89
Balogun founded First City Merchant Bank, a company that later became FCMB Group, a large financial conglomerate in Nigeria.
Nigerian billionaire Mike Adenuga strikes gold as Conoil stake skyrockets by $24 million
Adenuga has seen an impressive surge in his Conoil stake, solidifying his position among Africa’s wealthiest businessmen.
Nigerian billionaire Kola Karim, Mota Engil win Abuja airport concession
Karim is a part owner of Mota Engil Nigeria, which is a joint venture between his Shoreline Group and Mota Engil.
Listed companies of Africa’s 3rd-richest billionaire report $146 million in profit over Q1 2023
Rabiu: Africa’s third-richest billionaire’s businesses thrive, generating $146.2 million profit in Q1 2023.
Nigerian banker Herbert Wigwe invests $1.6 million to increase stake in Access Holdings
Wigwe has expanded his stake in Access Holdings, driving growth and confidence in the financial sector.
Nigerian banker Aigboje Aig-Imoukhuede to donate $5 million to healthcare initiatives
Aig-Imoukhuede is the former CEO of Access Bank.
Ghanaian mining tycoon Ibrahim Mahama signs $230-million equipment financing deal
Mahama, 52, is one of Ghana’s richest men and the founder of Engineers & Planners.