Greek tycoon John Coumantaros loses $12 million in 41 days amid news of Honeywell acquisition
Coumantaros, a Nigeria-based Greek businessman, is the chairman of Flour Mills Group.
West & Central Africa
Led by Senegalese businessman Alioune Ndiaye, Sonatel to repay $5.6 million in debts to creditors in January
The payment to creditors represents its biannual interest payment commitments under its Sonatel 6.50-percent 2020-2027 bond.
Led by Osayi Izedonmwen, Nigerian ed-tech startup Teesas secures $1.6-million pre-seed funding
Teesas connects outstanding tutors and learners to facilitate an effective learning experience via technology.
Nigerian multimillionaire Mohammed Indimi donates complex to local university
Indimi is the chairman and founder of Oriental Energy Resources, a privately held Nigerian oil exploration and production company.
Seplat Energy terminates contract of Nigerian oil mogul Austin Avuru as director
Avuru was asked to resign as a non-executive director due to alleged breaches of the company’s corporate governance policies.
Nigerian billionaires Dangote, Rabiu, others get $73 million in sugar subsidies
The subsidies program targets operators acting under Nigeria’s sugar backward intervention program.
Ten African startups that raised more than $100 million this year
This year remains unprecedented in the annals of African tech startups. It was a record-breaking year in terms of funding.
NCAA shuts Mike Adenuga’s Globacom base in Abuja over $12.2-million debt
Globacom owes the aviation authority close to $12.2 million due to its refusal to renew expired aviation certificates.
Nigerian billionaire Mike Adenuga gains $7 million in 2021 from stake in Julius Berger
Adenuga, the founder of Nigeria’s third largest telecom services provider, Globacom, owns a 25.1-percent stake in Julius Berger.
South African billionaire Michiel Le Roux hedges $157.2 million in Capitec shares over market worries
Le Roux is the founder of Capitec Bank and the fifth richest man in South Africa.
Tech tycoon Leo Stan Ekeh donates $121,700 to support Nigerian Computer Society
Ekeh is the founder of Zinox Technologies and the owner of the Nigerian e-commerce giant, Konga.com.
Cameroonian millionaire Samuel Foyou opens $27.5 million five-star hotel in Douala
The hotel cost $27.5 million to build and is the first five-star hotel in Douala and the second in Cameroon.
French billionaire Vincent Bollore receives $6.4-billion offer from MSC for African logistics assets
Mediterranean Shipping Company’s offer is subject to the approval of regulatory and competition authorities.
Led by Adetayo Bamiduro, Nigerian mobility startup Max secures $31 million in Series-B round
The funding secured in the round will help the startup expand its operations across the continent.
Burkinabe tycoon Idrissa Nassa’s Coris Bank funds Kouroussa Gold mine in Guinea with $100 million
Nassa said the financing deal is a step further in its plan to help strengthen Africa’s mining industry.
Nigerian banking executive Remi Babalola resigns weeks after Femi Otedola increases stake in FBN Holdings
Experts believe Otedola could take over the helm as the bank’s chairman, or exercise some level of control over its administration.