Nigerian billionaire Femi Otedola’s Geregu Power sheds $62 million in 24 hours
Geregu Power is majority owned by Nigerian billionaire Femi Otedola.
West & Central Africa
Gaming tycoon Kunle Soname’s airline ValueJet begins operations in Nigeria
Soname stated: “ValueJet is hardly a stranger in the industry.”
Africa’s richest man Aliko Dangote’s group says $19-billion oil refinery is 97-percent complete
The refinery project has been long hampered by a number of factors.
Nigerian billionaires Abdul Samad Rabiu, Tony Elumelu, others, receive national honors
The men have played seminal roles in the development of Nigeria’s economy.
Nigerian billionaire Mike Adenuga’s Globacom launches payment service bank
Globacom is Nigeria’s second largest mobile telecom company.
Serena Williams’ VC firm backs Nigerian entrepreneur Preston Ideh’s Stears
Ideh said the funds will be used to broaden Stears’ product breadth.
Nigerian billionaire Femi Otedola’s Geregu Power posts $47 million in profit in 2021
Geregu Power is 80-percent owned by Otedola.
Nigerian gaming tycoon Kunle Soname’s ValueJet to commence regional flights this week
Soname’s move into the aviation sector is aimed at helping to lower the cost of airline tickets for Nigerians.
Egyptian tycoon Hend El-Sherbini’s IDH launches sixth Al-Borg Scan branch in Cairo
El-Sherbini controls a 26.1-percent stake in the group.
Nigerian businessman Tony Elumelu pledges support to female farmers
Elumelu has played a crucial role in supporting young businesspeople in Africa.
Cement plant owned by Aliko Dangote’s Dangote Cement under ‘lock and key’ as state gov’t plans recovery
The Obajana Cement Factory opened in 2008.
Within 24 hours of NGX listing, Nigerian billionaire Femi Otedola’s Geregu Power gains $120 million
Geregu Power is majority owned by Otedola.
Nigerian banker Herbert Wigwe’s Access Holdings to become majority shareholder in Finibanco Angola
Wigwe owns 4.26 percent of the pan-African conglomerate.
Nigerian billionaire Femi Otedola’s Geregu Power completes listing on Nigerian Exchange
The power-generating company was acquired in 2013 by Otedola.
Nigerian entrepreneur Tola Adesanmi’s proptech startup, Spleet, raises $2.6 million to drive expansion
Adesanmi and Dolapo Adebayo founded Spleet after returning to Nigeria from the UK in 2018.
Nigerian banking magnate Jim Ovia has now lost $60.4 million from stake in Zenith Bank
He is on course to earn an interim dividend of $3.6 million from his stake in the bank.