Greek businessman John Coumantaros loses $10 million from Flour Mills stake
Coumantaros, ranked as one of the richest investors on the Nigerian Exchange, holds a 63.34 percent stake in Flour Mills of Nigeria.
West & Central Africa
Aliko Dangote’s cement empire achieves 9-month profit exceeding $340 million
Dangote Cement’s remarkable financial performance and ability to sustain profit growth solidify its position as a top player in the African cement industry.
Nigerian tycoon Tony Elumelu’s Transcorp records 9M revenue exceeding $150 million
Elumelu, through his investment firm HH Capital, holds a 29.5-percent stake in Transcorp, or 11,990,957,350 ordinary shares.
U.S.-Nigerian telecom tycoon Sam Darwish’s stake in IHS slumps by $17 million
Darwish holds a substantial 4.17-percent stake in IHS Holdings, or 13,958,158 shares.
Nigerian billionaire Femi Otedola makes $171 million in 72 hours
Otedola’s stake in Geregu Power is now worth $1.15 billion, further solidifying his status as one of the continent’s most affluent businessmen.
Bank led by Nigerian tycoon Herbert Wigwe posts over $320 million in profit in 9M 2023
Access Holdings sees key growth and expansion with Wigwe at the helm.
IEA forecasts Aliko Dangote’s refinery to fuel decade-long surge in African oil demand
Reports had indicated that Aliko Dangote was nearing a significant milestone as the Dangote Oil Refinery prepared to receive its first crude oil cargo in October.
Nigerian businessman Tony Elumelu gains nearly $20 million in 55 days from UBA
Ripple effect: UBA’s double-digit share surge impacts Nigerian businessman Tony Elumelu’s fortune.
GTCO, led by Nigerian banker Segun Agbaje, posts $480-million 9M profit
Nigerian business executive Segun Agbaje’s leadership remains a key ingredient in GTCO’s financial success in recent years.
Africa’s richest man Aliko Dangote no longer among world’s top 100 billionaires
Currently, with a net worth of $15.8 billion, Dangote is positioned as the 107th wealthiest individual globally.
Nigerian tycoon Atedo Peterside’s Stanbic IBTC stake declines by $1.8 million
Peterside owns a 1.14-percent stake in Stanbic IBTC, which translates to 133,611,115 ordinary shares in the group.
Temitope Lawani-linked Vivo Energy to expand LPG business in Mayotte with Somagaz deal
Vivo Energy is partially owned by Lawani, the co-founder and managing partner of Helios Investment Partners.
Nigerian businessman Tony Elumelu gains $4.1 million in just one week from UBA
Elumelu owns a 7.39-percent stake in UBA, equivalent to 2,527,372,285 ordinary shares in the leading lender.
Nigerian billionaire Tony Elumelu’s Heirs Oil & Gas rebrands
Heirs Energies is a subsidiary of Heirs Holdings, an investment company that manages Elumelu’s and his family’s wealth.
Nigeria’s second-richest man Abdul Samad Rabiu joins world’s 400 richest billionaires
Since he returned to the coveted list of the world’s 500 wealthiest billionaires on Sept. 18, Rabiu has seen his net worth soar by $800 million.
Nigerian banker Peter Ashade-led United Capital rakes in $11 million in profit in 9M 2023
Ashade said United Capital’s third-quarter performance reflects the group’s ability to deliver sustainable earnings despite the challenging business environment.