Nigerian billionaire Rasheed Sarumi's Presco sees profit falls 20% to $23.8 million in second quarter
Presco's second-quarter profit fell 20% to ₦33 billion as revenue declined, with earnings per share dropping to ₦28 from ₦41 a year earlier.
West & Central Africa
Nigerian billionaire Aliko Dangote's cement sales rose 22% last quarter, profit just 4%
Dangote Cement lifted half-year profit 24% to ₦640.2 billion, but second-quarter profit growth slowed to 4.4% even as revenue rose 22.2%.
Nigerian tycoon Michael J. Prest sues Zambia's central bank for $40 million over Investrust collapse
Michael Prest's Bank of Nevis International is seeking $40 million from Zambia's central bank over the 2024 liquidation of Investrust Bank.
Billionaire Femi Otedola's First HoldCo becomes Nigeria's most valuable bank at $4.22 billion
Billionaire Femi Otedola's First HoldCo closed at ₦5.78 trillion, or $4.22 billion, passing Zenith and GTCO to become Nigeria's most valuable bank.
Mohan Vaswani's Tolaram turned Diageo's $70 million Guinness Nigeria exit into $355 million
Tolaram takes ₦8.9 billion from Guinness Nigeria's dividend on a stake it bought for ₦103.7 billion and which is now worth ₦486.8 billion.
Ghanaian tycoon Joseph Siaw Agyepong backs Nasdaq-listed health venture with $1.3 million
Joseph Siaw Agyepong's Jospong Group is providing the cash in a $2.5 million digital health joint venture with Nasdaq-listed MNDR in Ghana.
Nigerian billionaire Aliko Dangote will give a third of his fortune to charity - $11.6 billion today
Aliko Dangote will leave a third of his fortune to charity. That is $11.6 billion today, before his refinery reaches the market.
Cameroonian oil magnate Antoine Ndzengue loses Central African fuel monopoly after IMF-requested audit
Central African lawmakers have voted to end the ten-year fuel import monopoly held by Cameroonian businessman Antoine Ndzengue's Neptune Oil.
Nigerian billionaire Aliko Dangote pitches Cameroon fuel terminal to reach landlocked Central Africa
Nigerian billionaire Aliko Dangote has proposed a fuel storage terminal in Cameroon to serve landlocked Chad and Central African Republic.
Swiss billionaire Thomas Flohr's VistaJet takes eighth Global 8000 as Africa to Asia flying surges
Thomas Flohr's Vista Global has converted an eighth Global 7500 into a Global 8000, adding range as Africa to Asia flying surges.
Nigerian billionaire Abdul Samad Rabiu's BUA Cement lifts half-year profit 80% to $237 million
Abdul Samad Rabiu's BUA Cement lifted half-year profit 80% to $237 million as bulk cement revenue jumped from almost nothing a year earlier.
Mariya Dangote explains why Dangote Cement chose London for secondary listing
Dangote Cement chose London over Dubai for its secondary listing because listing in the Gulf would have taken years, Mariya Dangote told reporters in Lagos.
Ghanaian food entrepreneur Catherine Krobo Edusei sells control of Eden Tree after 29 years
Catherine Krobo Edusei has sold majority control of Eden Tree, the Ghanaian fresh produce brand she founded in 1997 and built over 29 years.
France looks to Nigerian billionaire Mike Adenuga to fund its Abuja cultural institute
France is in talks with Nigerian billionaire Mike Adenuga over funding a new Institut Français in Abuja, where Macron will lay the foundation stone.
Nigerian billionaire Femi Otedola's fortune has grown $400 million this year on a single bank stock
Femi Otedola is worth about $1.7 billion, up $400 million since March, with just over half of that now sitting in a single bank stock.
France's billionaire Perrodo family built an $11.4 billion fortune on Africa's abandoned oil wells
The Perrodo family built an $11.4 billion fortune buying the African oil fields the majors abandoned, and now face a French trial over Congo pollution.