Mitch Slape-led Massmart Holdings sustains sales above $3.9 billion, valuation jumps by 10 percent
Massmart Holdings is the second-largest consumer goods distributor in Africa.
West & Central Africa
U.S. fast food chain Burger King launches first outlet in Nigeria under Antoine Zammarien
Burger King is one of the many international companies drawn to Africa thanks to its appealing demographics.
Nigerian oil tycoon Gabriel Ogbechie’s Rainoil acquires majority stake worth $26.1 million in Eterna
Founded in 1997, Rainoil is a prominent player in the Nigerian oil industry.
Jim Ovia’s Zenith Bank records one-percent growth in profit before tax for 9M 2021
Zenith Bank is a large financial services provider in Nigeria and Anglophone West Africa.
Nigerian billionaire Mike Adenuga’s petroleum company posts $3.9 million in profit for 9M 2021
Conoil is a Nigerian petroleum marketing company, operating under the leadership of billionaire Mike Adenuga.
Nigerian media tycoon and politician Orji Uzor Kalu offers scholarships to med school students
The OUK Foundation is a non-profit that contributes to national development through critical interventions.
Aliko Dangote’s cement group reports highest-ever 9M revenue, profit surges above $670 million
It is the largest figure since the leading cement group commenced operations about 40 years ago.
Gambling magnate Kessington Adebutu donates eye center to Nigerian university teaching hospital
The donation to the center in Ogun State was made through his philanthropic foundation.
Aliko Dangote’s salt-processing business reports $5.9 million in profit in 9M 2021
The Nigerian billionaire has received $1.6 million in dividends from the company since the start of 2021.
BEAC withdraws tea tycoon Baba Ahmadou Danpullo’s Nexttel mobile money service license
Danpullo is the founder of Baba Ahmadou Group, a Cameroonian conglomerate that owns the Ndawara Tea Estate.
South Africa’s richest man Johann Rupert is now worth more than $10 billion
His present net worth makes him the second richest man in Africa behind Nigerian billionaire Aliko Dangote.
Nigeria’s oldest bank confirms finance mogul Tunde Hassan-Odukale as largest shareholder
Hassan-Odukale is the managing director and CEO of Leadway Assurance Company.
Nigerian billionaire Abdul Samad Rabiu’s BUA Cement posts $160.6 million in profit for 9M 2021
BUA Cement is a Nigerian cement manufacturer with an installed capacity of 8 million tonnes per annum.
Egyptian billionaire Nassef Sawiris’ Fertiglobe completes Abu Dhabi listing, market cap soars above $6.8 billion
The company operates as the world’s largest urea and ammonia seaborne exporter.
James Mwangi-led Equity Group to invest $1.5 billion in Africa-focused businesses in Kenya, South Africa
The group is embarking on the deal to expand its operational footprint beyond its current markets.
Nigerian startup founder Tunde Kara’s Vendease raises $3.2-million seed round
Vendease provides a transparent process for hotels and restaurants to purchase the best quality products at the best possible price.