Peter Ashade-led United Capital posts $14.53 million in profit in 9M 2021, assets surge by 72 percent
United Capital is a financial and investment services company based in Lagos, Nigeria.
West & Central Africa
Olugbenga Agboola’s Flutterwave in talks with investors to triple valuation to $3 billion
The company’s Series-C round in March brought its valuation to over $1 billion.
Shares in telecom tycoon Sam Darwish’s IHS Towers plunge 18 percent after recent IPO on NYSE
The listing still managed to raise $378 million to fund the company’s growth plans.
Nigerian tycoon Temitope Lawani sees stake in Vivo Energy increase by $4.75 million in 2021
Vivo Energy is a British downstream petroleum company headquartered in London.
Neobank tycoon Uzoma Dozie’s Sparkle closes $3.1-million seed round to scale Nigeria operations
This follows the closing of a friends and family pre-seed round of $2 million within the past year.
Iain Williamson-led Old Mutual plans strategic acquisition in West Africa to deepen operations
Old Mutual is a pan-African investment, savings, insurance and banking group.
Kofi Sarpong-led GNPC, Kosmos Energy to acquire two Ghanaian oil fields from Occidental Petroleum
GNPC will pay $200 million and Kosmos will pay $550 million for the Houston-based company’s assets.
Nigerian banking guru Jim Ovia gains $24 million in 20 days, as Zenith Bank shares recover from five-month low
The gain in the company’s share price was spiked by buying pressures on the Nigerian exchange.
Sultan Ahmed bin Sulayem’s DP World invests $1.72 billion in upgrading African seaports
Together with the British CDC Group, DP World will modernize seaports in Egypt, Senegal and Somaliland.
Herbert Wigwe’s Access Bank completes acquisition of BancABC Botswana
BancABC Botswana is a well-capitalized franchise with impressive growth prospects in Southern Africa.
Abdulhamid Hassan’s fintech startup Mono raises $15-million Series-A round
The startup helps African businesses access high-quality financial data and direct bank payments.
Stephane Bancel’s Moderna to invest $500 million to build factory in Africa
The factory will produce about 500 million doses of mRNA vaccines annually on the continent.
Nigerian billionaire Abdul Samad Rabiu donates $2.4 million to Nnamdi Azikiwe University
The donation was made through his Abdul Samad Rabiu Africa Initiative, the philanthropic arm of BUA Group.
Ghanaian businesswoman Roberta Annan launches $115.8-million fund to invest in African fashion enterprises
Annan is the founder of the African Fashion Foundation Annan Capital Partners.
Nigerian billionaire Benedict Peters’ Aiteo Group sues Shell over sale of OML-29 operating license
Aiteo Group has sued Shell for more than $2.5 billion over the ownership status of the OML-29 block.
Obafoluke Otudeko wins twice on Nigerian Exchange as stake in First Bank gains $3.2 million in 10 days
The multimillion-dollar gain in Otudeko’s stake can be linked to price movements in the lender’s shares.