Greek magnate John Coumantaros gains $14 million in nine days from stake in Flour Mills of Nigeria
Coumantaros owns 63.34 percent of the agro-allied group.
West & Central Africa
Led by Karl Toriola, MTN Nigeria plans to raise $54 million from capital market investors
Toriola has been at the helm of MTN Nigeria since 2020.
Segun Agbaje-led GTCO posts lower earnings amid higher operating expenses
Agbaje holds a minority 0.14-percent stake in GTCO.
Nigerian billionaire Femi Otedola becomes university chancellor
Ten months ago, Otedola was also named vice president of UK-based NGO Save the Children.
East African Court of Justice orders Rwanda to pay tobacco tycoon Tribert Rujugiro $1 million
The court ruled that Rwanda violated a regional treaty when it took over and sold Rujugiro’s shopping mall.
Africa’s richest man Aliko Dangote loses $2 billion in three months as Dangote Cement shares fall
Dangote derives the majority of his wealth from his 86-percent stake in Dangote Cement.
Nigerian billionaire Abdul Samad Rabiu suffers $1.2-billion loss in August from stake in BUA Cement
BUA Cement is Nigeria’s second-largest cement producer with a combined installed capacity of 8 million tonnes per annum.
Billionaire Aliko Dangote’s oil refinery to commence operation by mid-2023
The project is back on track after being hampered by several issues.
Gbenga Agboola-led Flutterwave advances plans for NASDAQ IPO despite allegations
Flutterwave is a San Francisco- and Lagos-based fintech group.
Africa’s richest man Aliko Dangote to cut Nigerian sugar imports by 40 percent
Dangote founded Dangote Sugar Refinery in the 1970s.
Cameroonian banker Alain Nkontchou loses over $1 million from investment in Ecobank
The company’s market capitalization is presently $471 million.
Nigerian tycoon Herbert Wigwe’s Access Holdings gets approval to acquire Lagos-based First Guarantee Pension
Wigwe holds a 4.26-percent stake in the pan-African group.
Ghanaian founder Gregory Rockson’s mPharma to pay over $4 million in taxes in 2022
mPharma was founded in 2013.
Nigerian billionaire Abdul Samad Rabiu’s son resigns as director of BUA Foods
Earlier this year, Isyaku and his father earned a dividend of $151.6 million from their stake in the business.
Nigerian banker Jim Ovia to pocket $3.6 million in interim dividends from Zenith Bank
The news puts his total dividend earnings from Zenith Bank this year at $17.7 million.
Nigerian banking tycoon Jim Ovia’s Zenith Bank posts $264 million in profit in H1 2022
The increase in the bank’s profit can be attributed to a 17-percent rise in its gross earnings.