US rumored to be building world’s largest consulate in Nigeria with billionaire Gilbert Chagoury
In 2000, a Swiss court reportedly convicted Chagoury of laundering funds looted by Nigeria’s late military leader Sani Abacha.
West & Central Africa
Cosmetics billionaire Rihanna to launch skincare brand Fenty Beauty into Africa
Rihanna is the 1,729th richest person in the world.
Abdul Samad Rabiu’s BUA Foods acquires shipping vessels to drive West African sugar exports
The new vessel will depart and berth at BUA’s port and terminal.
Investors looking to acquire Aliko Dangote’s cement firm must make at least $13-billion offer
His 86-percent stake in Dangote Cement is valued at $10.3 billion.
Nigerian lawyer Tola Onayemi’s Norebase raises $1 million in pre-seed funding
Onayemi founded Norebase in 2019.
Led by Ghanaian tycoon, Samuel Jonah, Helios Towers posts $127.5 million in revenue in Q1 2022
Its revenue rose by 23 percent to $127.5 million.
Ivorian banker Niamkey Isidore Tanoe launches financial holding, Majoris Financial Group
The move comes weeks afterTanoe was replaced as CEO of Atlantique Finance.
Nigerian billionaire Mike Adenuga’s Conoil reports $1.34 million in profit in Q1 2022
Adenuga’s 74.4-percent stake in the company is worth $32.6 million.
Africa’s richest man Aliko Dangote’s net worth rises by $1.57 billion
This is significantly greater than the $1.3-billion increase in his net worth in 2021.
Swazi billionaire Natie Kirsh loses $280 million in April 2022
The loss is due to a decrease in the valuation of his majority stake in Jetro Holdings.
Nigerian tycoon Oba Otudeko pockets $53 million from Flour Mills-Honeywell deal
Otudeko owns 66.8 percent of Honeywell Flour Mills.
Highly indebted Nigerian tycoon Jimoh Ibrahim declares intention to run for seat in Senate
Ibrahim is the chairman of Global Fleet Group, a floundering West African conglomerate.
Africa’s richest man Aliko Dangote becomes world’s 70th richest person as net worth surpasses $20.4 billion
Dangote began the year as the 97th richest man in the world.
Herbert Wigwe’s Access Holdings posts $138.2 million in profit in Q1 2022
Access Holdings ranks as one of the most capitalized financial services institutions on the Nigerian Exchange.
Nigerian banking tycoon Jim Ovia’s Zenith Bank posts $140.1 million in profit in Q1 2022
Ovia owns a significant 16.2-percent stake in the company.
Nigerian businessman Tony Elumelu’s UBA earns $100 million in profit in Q1 2022
Elumelu owns a sizable 6.39-percent stake in the company.