MainOne, led by Funke Opeke, sets up fiber infrastructure in Nigeria’s first private free zone
The move comes nearly four months after Equinix, a digital infrastructure company led by U.S. businessman Charles Meyers, acquired MainOne.
West & Central Africa
Burkinabe tycoon Mahamadou Bonkoungou opens new showroom in Burkina Faso
Bonkoungou Distribution operates as a subsidiary of EBOMAF Group, a construction group founded in 1989.
AMCON receives court orders to takeover assets of Nigerian businessman Babatunde Folawiyo
Folawiyo has a beneficial one-percent stake in MTN Nigeria, the most profitable subsidiary of MTN Group.
Ghanaian mogul Samuel Jonah’s Helios Towers acquires 723 tower sites in Malawi from Airtel Africa
The deal is valued at $55 million.
Nigerian telecom mogul Bashir Ahmad El-Rufai controls $11-million stake in IHS Towers
The businessman played a key role in the deregulation of the country’s telecom industry in the early 2000s.
Africa’s richest man Aliko Dangote’s fertilizer plant adds $5.15 billion to his net worth
Dangote is now the world’s 80th richest man.
Africa’s richest man Aliko Dangote set to launch continent’s largest fertilizer plant
The $2.5-billion urea fertilizer plant is reported to be the Africa’s largest granulated urea fertilizer complex.
Nigerian banker Herbert Wigwe is set to receive $2.56 million in dividends from Access Bank
Wigwe has played a key role in the growth and expansion of the pan-African banking group.
Nigerian banking tycoon Tony Elumelu gains $3.7 million from stake in UBA since start of 2022
Elumelu is the founder of Heirs Holdings and Transcorp.
Nigerian banker Herbert Wigwe’s Access Bank earns $385.6 million in profit in 2021
Despite a 51-percent increase in earnings, the board proposed a dividend of $0.00168 per share for shareholders.
Nigerian tycoon Tony Elumelu calls gov’t to order, says 90 percent of Nigerians live in poverty
Elumelu believes Nigerians face too many challenges in their daily lives due to government mismanagement.
Sam Darwish’s IHS Towers suffers over $26 million in losses in 2021
IHS Towers is a leading telecom infrastructure group.
Austin Avuru’s gains over $18.5 million in three weeks from stake in Nigeria’s largest energy firm
Avuru owns an 8.2-percent stake in Seplat Energy through his family business, AAH Holdings.
Nigerian tech entrepreneur Ladi Delano’s Moove raises $105 million to expand operations globally
Since its inception two years ago, the mobility fintech pioneer has raised a total of $174.5 million in financing.
Understanding the silent giants
Some of the strongest groups of family businesses are grown in the Indian-African communities.
Nigerian billionaire Femi Otedola’s stake in country’s oldest bank is worth $75.5 million
Aside from his ownership stake in FBN Holdings, Otedola has interests in shipping, real estate and finance.