Africa’s richest billionaire Aliko Dangote to raise $750 million to complete $19-billion refinery plant
The refinery project is still on track to be completed by 2023.
West & Central Africa
Nigerian aviation mogul Allen Onyema donates $260,000 building to university
Onyema is the founder and chairman of Air Peace.
Cameroonian billionaire Paul Fokam’s Afriland First Bank eyes Chadian market
Fokam is one of the richest men in Africa.
Nigerian banking tycoon Herbert Wigwe’s Access Holdings to acquire majority stake in First Guarantee Pension
The announcement comes two months after Access Holdings completed its structural transformation into a holding company.
Nigeria rejects proposed acquisition of ExxonMobil assets by Bryant Orjiako’s Seplat Energy
The government cited overriding national interests as one reason for rejecting the $1.58-billion deal.
Nigerian startup founder Etop Ikpe’s Autochek acquires Morocco’s Kifal Auto
The former CEO of Cars45, Ikpe founded Autochek in 2020.
Sam Darwish’s IHS Towers posts $16.9-million in profit in Q1 2022
IHS Towers is a Nigeria-based telecom infrastructure firm.
Seplat Energy wants Nigerian energy mogul Bryant Orjiako to assist with critical tasks after retirement
Orjiako’s stake in Seplat Energy is valued at $118.5 million.
Nigerian billionaire Abdul Samad Rabiu’s BUA Group eyes lithium mining
BUA Group is a leading food, infrastructure, mining and manufacturing conglomerate.
Nigerian tech tycoon Mitchell Elegbe’s Interswitch secures $110 million in joint investment
Interswitch is Nigeria’s first e-payment service.
Jumia shares surge 14.8 percent following speculation of takeover by Nigerian tech tycoon Leo Stan Ekeh
Ekeh’s takeover of Jumia would likely make Zinox the largest e-commerce owner in Africa.
Nigerian oil billionaire Tein Jack-Rich declares interest in presidency
Tein Jack-Rich is the founder of Belemaoil Producing Limited.
Nigerian billionaire Aliko Dangote becomes world’s 61st richest man
Dangote derives the majority of his net worth from his 86-percent stake in Dangote Cement.
Cameroonian banker Alain Nkontchou acquires additional stake in Ecobank for $690,000
Ecobank is one of West and Central Africa’s leading independent regional banking groups.
Greek tycoon John Coumantaros gains $54.1 million from stake in Flour Mills
Coumantaros owns a 63.34-percent stake in the agro-allied group.
Nigerian logistics tycoon Taiwo Afolabi becomes chairman of Sifax Group
After working for Nigerian Express Agencies Limited in the 1980s, Afolabi founded SIFAX Group in 1988.