Energy mogul Bryant Orjiako’s Seplat posts more than $70 million in profit amid surge in oil prices
Orjiako owns a 6.43 percent stake in Seplat Energy.
West & Central Africa
Nigerian banker Herbert Wigwe’s Access Holdings to acquire stake in Sigma Pensions
Wigwe owns a significant 4.27-percent stake in Access Holdings.
Segun Agbaje-led GTCO reports slight rise in earnings as profit nears $300 million in 9M 2022
Earnings during the first nine months of 2022 were significantly impacted by rising operating costs and tax obligations.
Abdul Samad Rabiu overtakes Mike Adenuga to reemerge as Nigeria’s second-richest billionaire
Rabiu’s net worth has recently risen above $5.6 billion.
Nigerian billionaire Tony Elumelu’s UBA posts $265.6 million in profit in 9M 2022
Elumelu owns a sizable 6.39-percent stake in the financial services group.
Nigerian investment banker Peter Ashade’s United Capital gains $29 million in 18 days
Ashade has been at the helm of United Capital since 2018.
British-Nigerian entrepreneur Ladi Delano’s Moove secures $16.6 million to scale up UK operations
Founded by Delano and Jide Odunsi in 2020, Moove has successfully scaled to nine markets across Sub-Saharan Africa and India.
Cameroonian businessman Paul Fokam’s Afriland launches Togo investment holding
Fokam is one of Africa’s richest men.
Nigerian billionaire Abdul Samad Rabiu gains nearly $1 billion in 27 days as BUA Cement shares rebound
Rabiu derives the majority of his fortune from his 92-percent stake in BUA Cement.
Nigerian billionaire Femi Otedola’s Zenon wins $19.2-million arbitration award against Ardova
Ardova reported a $8.93-million loss for the 2021 fiscal year.
Nigerian mogul Tony Elumelu signs $1.4-million deal to empower Rwandan youths
The four-year agreement was signed through his Africa-focused non-profit, Tony Elumelu Foundation.
Billionaire Femi Otedola’s Geregu Power posts lower earnings amid power sector disruption
Geregu Power Plc is 80-percent owned by Otedola.
Nigerian gov’t orders immediate reopening of Dangote’s Obajana cement plant
Obajana Cement Company is majority owned and operated by billionaire Aliko Dangote’s cement company, Dangote Cement Plc.
Led by Nigerian banker Peter Ashade, United Capital posts $17.7 million in profit in 9M 2022
Ashade has been at the helm of United Capital since 2018.
Billionaire Abdul Samad Rabiu to build $2.3-million amphitheater building in Nigerian university
Rabiu is the chairman of BUA Group.
Nigerian billionaire Femi Otedola’s Geregu Power sheds $62 million in 24 hours
Geregu Power is majority owned by Nigerian billionaire Femi Otedola.