Aliko Dangote’s cement firm reports lower profit as energy costs, forex losses bite into earnings
The group’s profit decreased by more than 10 percent in the first half of 2022.
West & Central Africa
Nigerian banking mogul Herbert Wigwe’s Access Holdings secures $280 million from U.S. DFC
Access Bank is the banking subsidiary of Access Holdings.
Burkinabe banking tycoon Idrissa Nassa’s Coris Bank secures $19.4 million to support SMEs
Coris Bank International is a financial services organization headquartered in Burkina Faso with activities throughout Francophone Africa.
Billionaire Femi Otedola’s Geregu Power completes $96.3-million bond issuance
Under Otedola, Geregu has grown into one of Nigeria’s largest power-generating enterprises.
Nigerian telecom tycoon Bassim Haidar puts yacht ‘Bash’ on sale for $10 million
The Nigerian-Lebanese telecom tycoon is listing his 208-foot yacht, “Bash,” for sale.
Market cap of Burkinabe mogul Idrissa Nassa’s Coris Bank drops below $450 million
However, Coris Bank remains the fourth-most valuable firm listed on the BRVM Stock Exchange.
Nigerian billionaire Mike Adenuga’s Conoil earns over $4.3 million in profit in H1 2022
Adenuga holds a 74.4-percent stake in the oil marketing business.
Aliko Dangote loses $700 million in July amid stock market sell-off, naira slump
However, he remains one of the few billionaires who has seen impressive gains since the year began.
Aliko Dangote’s salt-processing business NASCON records more than $3.7 million in profit in H1 2022
NASCON is a subsidiary of Dangote Group.
Kenya’s Kirubi family to pocket $1.02-million dividend from stake in Centum Investment
The million-dollar dividend will be deposited into the family’s bank account at a later date.
Nigerian billionaire Abdul Samad Rabiu’s BUA Cement posts $147.7 million in profit in H1 2022
The double-digit rise in earnings was driven by increased revenue from $299.3 million to $454.1 million.
British-Nigerian entrepreneur Ladi Delano’s Moove partners with Uber to launch India ride-hailing fleet
The move marks Moove’s first global expansion outside of Africa.
Nigerian billionaire Aliko Dangote urges government to complete OB3 Pipeline
His group recently completed a bond issuance to fund the completion of the $19-billion Dangote Oil Refinery.
Nigerian billionaire Abdul Samad Rabiu unveils $3-million development initiative for Niger
Rabiu, Africa’s fifth-richest man, is presently worth $6.3 billion, according to Forbes.
Africa’s richest man Aliko Dangote loses $1.1 billion in two months as Dangote Cement shares fall
Dangote’s net worth is still up by $832 million this year.
Nigerian billionaire Abdul Samad Rabiu receives $208 million in dividends from cement business
Rabiu is also on track to earn another $151.66 million in dividends from his newly consolidated food business, BUA Foods.