Led by Herbert Wigwe, Access Bank acquires Kenya’s Sidian Bank
The deal is worth Ksh 4.3 billion ($36.7 million).
West & Central Africa
Nigerian tech tycoon Mitchell Elegbe’s Interswitch to start paying allowances to employee spouses
Interswitch did not specify how much it will pay or the range of pay.
Dutch-Nigerian tycoon Cornelius Vink-linked Titan Trust Bank secures $300 million from Afreximbank
Titan Trust Bank is one of many subsidiaries of Tropical Genera Investment Group.
Nigerian billionaire Mike Adenuga earns over $3.6 million in single day from Conoil
So far this year, the company’s share price has increased by 45.4 percent.
Nigerian billionaire Abdul Samad Rabiu gains half a billion dollars off back of stake in BUA Cement
The total value of Rabiu’s shares in publicly traded companies is now more than $8.6 billion.
Burkinabe mogul Idrissa Nassa’s Coris Bank launches $13-million Ivory Coast headquarters
Nassa s one of the richest men in Burkina Faso.
Segun Agbaje-led Guaranty Trust receives CBN approval to launch payment subsidiary
HabariPay will help expand the group’s services to largely underserved markets.
U.S.-Nigerian telecom tycoon Sam Darwish gains $26.8 million in 22 days
Darwish founded IHS Holdings, a Nigerian telecom infrastructure firm, in 2001.
Nigerian banking magnate Jim Ovia’s Zenith Bank pays investors balance of $500 million Eurobond
Ovia owns a significant 16.2-percent stake in the leading lender worth over $300 million.
Greek tycoon John Coumantaros’ Flour Mills records more than $67 million in profit in 2022
Coumantaros owns a majority 63.34-percent stake in the company.
Cameroonian mogul Paul Fokam’s Afriland moves to sell Ugandan subsidiary
Afriland First Group is further reducing its presence in Africa.
Africa’s richest man Aliko Dangote loses $702 million on last trading day of May
Dangote derives nearly half of his $20-billion fortune from his 86-percent stake in Dangote Cement.
Led by Togolese founder Jean-Marc Savi de Tove, Adiwale Partners invests $5.8 million in Enko Education
Jean-Marc Savi de Tove said the investment will allow the company to expand its network.
Nigerian billionaire Femi Otedola gains more than $6.8 million in past six days from First Bank stake
Otedola is the largest stakeholder in the financial services provider.
Nigerian businessman Fola Adeola’s IWOSAN Investments acquires Lagoon Hospitals
Lagoon Hospitals will be rebranded as IWOSAN Lagoon Hospitals.
Nigeria’s Kano State renames university after Africa’s richest man Aliko Dangote
Dangote’s net worth has risen by more than $1.88 billion this year.