Nigerian tycoon Tony Elumelu’s UBA launches $6-billion initiative to support African SMEs
United Bank for Africa Plc, the pan-African financial services group led by Nigerian tycoon Tony Elumelu, has unveiled a $6-billion initiative.
West & Central Africa
Nigerian tycoon Atedo Peterside’s stake in Stanbic IBTC soars by $2.3 million
This recent surge in Peterside’s stake further solidifies his position as one of the richest bankers in the country.
Nigerian president awards highway project to billionaire linked to Sani Abacha
Chagoury’s success has not been without controversy.
Kenyan tycoon Julius Mwale to build multimillion-dollar medical city in Ghana
This development was unveiled following a meeting between Mwale and Ghanaian President Nana Akufo-Addo.
Bank led by Nigerian tycoon Herbert Wigwe achieves over $180 million in profit
Under Wigwe, Access also saw its total deposits surge from $15.23 billion at the start of the year to $20.2 billion as of June 30, 2023.
Wealthy Cameroonian industrialist Nana Bouba launches oilseed processing company
Bouba is one of the richest businessmen in Cameroon with an empire that has tentacles in food and beverages, retail and property.
Former director pleads guilty to embezzling $2.2 million from 50 Cent’s company
The embezzlement scheme dates back over two years, coinciding with 50 Cent’s purchase of $14.8 million worth of champagne and cognac from two French distilleries.
American-Nigerian mogul Sam Darwish’s IHS to deploy 750 towers in Brazil
Founded by Darwish in 2001, IHS Holding retains its position as one of the largest telecom infrastructure groups in terms of tower count.
Nigerian banker Herbert Wigwe gains $8 million from Access Holdings stake
Wigwe’s commitment to Access Holdings and his strategic share acquisitions have established him as a top figure in the Nigerian banking sector.
Nigerian billionaire Mike Adenuga in spotlight over $260-million debt and bribery allegations
Adenuga, whose net worth stands at $3.5 billion, ranks as one of Nigeria’s most prominent and wealthiest businessmen.
Dangote’s stepbrother, Sayyu Dantata, gains $2.4 million from MRS stake in 48 hours
Dantata owns an impressive 60 percent of MRS Oil Nigeria Limited, through his investment company, MRS Africa Holdings.
Cameroonian billionaire Samuel Foyou gets green light to launch bank
This bold move by Foyou is expected to ignite a wave of competition among both multinational and national banks.
Burkinabe tycoon Idrissa Nassa’s Coris Bank advances as finalist in Cape Verde bank acquisition
Under the leadership of Nassa, Coris Bank has emerged as a formidable force in the financial services industry.
Nigerian tech entrepreneur Favor Ori’s explores acquisition options after raising $3 million
PayDay, founded by Ori nearly two years ago, maintains dual headquarters in Canada and Rwanda.
Africa’s richest man Aliko Dangote’s refinery imports crude ahead of launch
The Dangote Oil Refinery project stands as a resounding testament to the unwavering dedication of Aliko Dangote and the Dangote Group.
Africa’s richest man Aliko Dangote’s refinery to commence operations by October
Despite these delays, Dangote’s fortune has witnessed a remarkable surge, catapulting him back among the world’s top 100 billionaires.