MTN Nigeria, led by Karl Toriola, receives approval to launch payment service bank
The approval comes five months after MTN Nigeria received preliminary approval from the Central Bank of Nigeria.
West & Central Africa
Billionaire Mike Adenuga to receive $3.1 million in dividends from Nigerian oil company
The $3.1-million dividend represents a 66.7-percent increase over the previous year’s dividend of $1.86 million from Conoil Plc.
Nigerian billionaire Abdul Samad Rabiu gains over $300 million from stake in BUA Cement
The multimillion-dollar surge in the market value of Rabiu’s stake can be linked to the year-to-date gains in BUA Cement shares.
Nigerian billionaire Mike Adenuga’s Conoil reports $7.4 million in profits in 2021
Conoil is a petroleum marketing corporation led by Adenuga, who owns 74.4 percent of the company.
Africa’s richest man Aliko Dangote’s cement firm to issue bonds under $721.6-million program
Dangote Cement is Africa’s largest cement producer, producing 51.55 million tonnes per year across 10 countries.
U.S. digital infrastructure firm Equinix completes acquisition of Funke Opeke’s MainOne in $320-million deal
it is the latest in a series of strategic acquisitions for the world’s digital infrastructure firm.
UPS partners with French businessman Jeremy Hodara’s Jumia Technologies to expand logistics services in Africa
UPS customers will be able to pick up or drop off packages for global shipping at Jumia locations in Africa.
Forty-year-old Nigerian-born businessman Tope Awotona becomes billionaire
His $1.4-billion stake in Calendly makes him the world’s eighteenth Black billionaire.
Nigerian serial founder Sim Shagaya’s Konga signs deal with Airtel to expand digital retail in Nigeria
Konga was founded in 2012 by Shagaya, a 45-year-old Nigerian technopreneur and serial investor.
Nigerian gambling magnate Kessington Adebutu, daughter to pocket $2.4 million in Wema Bank dividends
Kessington Adebutu is the founder and CEO of Premier Lotto Limited, Nigeria’s oldest and largest gaming company.
Africa’s richest man Aliko Dangote gains $915 million in Q1 2022
Dangote’s net worth surpassed the $20-billion valuation in the first three months of 2021.
Burkinabe businessman Idrissa Nassa’s Coris Bank Int’l opens office in Bissau
CBI’s market capitalization is now $540 million.
Nigerian billionaire Abdul Samad Rabiu to pocket $208 million in dividends
BUA Cement operates with a combined installed capacity of 8 million tonnes per annum.
Nigerian billionaire Abdul Samad Rabiu’s BUA Cement posts all-time record profit in 2021
BUA Cement operates with a combined installed capacity of 8 million tonnes per annum.
Local contractors accuse Nigerian billionaire Mike Adenuga’s Conoil of failing to pay debts
Adenuga, the founder of Globacom and a billionaire businessman, is the chairman of the board of Conoil.
Herbert Wigwe’s Access Bank completes transformation into Access Holdings
The move comes after the pan-African banking group received the Central Bank of Nigeria’s “approval in principle.”