Nigerian media mogul Nduka Obaigbena fights ban on running company in UK
A London judge has granted him permission to appeal the decision banning him from trading in the UK.
West & Central Africa
South Africa-born billionaire Patrick Soon-Shiong set to build COVID-19, cancer vaccine center in Botswana
Soon-Shiong became a billionaire after selling APP Pharmaceuticals and Abraxis BioScience for $4.6 billion and $2.8 billion, respectively.
Nigerian billionaire Femi Otedola not interested in becoming director in Nigeria’s largest bank
Otedola has said that contrary to speculation he has no interest in becoming the chairman of First Bank Nigeria.
Led by Pakistani businessman Syed Basar Shueb, Chimera invests $50 million in Airtel Africa’s mobile money business
Chimera Investment operates as a member of Abu Dhabi’s Royal Group, a diversified conglomerate of companies.
Led by Tokunboh Ishmael, Africa’s first women-focused private equity firm Alitheia IDF raises 100 million
Aitheia IDF identifies, invests in and grows small and medium enterprises led by gender-diverse teams.
Africa’s richest man Aliko Dangote gains back $200 million after losing $1 billion in day
The $200-million wealth bump can be linked to the rising share price of his cement and sugar businesses.
Ghanaian cement tycoon Ibrahim Mahama signs partnership deal with Renault
Mahama, the founder of Dzata Cement, will set up an assembly plant in Ghana under the French vehicle manufacturer.
Paystack Co-Founder Shola Akinlade, others invest $3.5 million in Edukoya ed-tech startup
Edukoya plans to use the capital raised to expand its team, technology and learner base.
Led by Karl Toriola, MTN Nigeria’s 5G roll-out bid receives massive boost after spectrum license acquisition
The development comes hours after the telecom giant closed its first public offering of millions of shares held by MTN Group.
Burkinabe construction tycoon Mahamadou Bonkoungou’s IB Holding acquires state-owned BTCI
Mahamadou Bonkoungou is the owner of EBOMAF S.A., one of the largest construction companies in Francophone Africa.
Nigerian tycoon Julius Rone signs $2-billion deal to launch first floating LNG project
The project is expected to be fully completed in 2026.
Nigerian billionaire Femi Otedola cements position as largest shareholder in Nigeria’s oldest bank
Otedola recently bought another 898,730,515 shares in the bank.
Africa’s wealthiest man Aliko Dangote loses over $1 billion in single day as investors book profit
Yet his $19.1-billion net worth makes him the richest Black man alive and the 100th wealthiest man in the world.
Nigerian serial founder Sim Shagaya’s uLesson secures $15 million in China-led Series-B round
uLesson is a home-tutoring platform founded by Shagaya in 2019.
Nigerian billionaire Abdul Samad Rabiu unveils food company BUA Foods, set to list on NGX
BUA Sugar Refinery Limited, BUA Oil Mills Limited, IRS Flour, IRS Pasta and BUA Rice Limited have merged to form BUA foods.
Ivorian technopreneur Idriss Monthe’s CinetPay receives $2.4 million in funding from 4DX Ventures, Flutterwave
CinetPay, a digital finance platform with operations across Francophone Africa, has seen impressive growth since its founding in 2016.