Gabon’s Samuel Dossou-Aworet deepens Nigeria oil bet with $64 million Aradel stake
Samuel Dossou-Aworet boosts Aradel stake with a $64 million share purchase, cementing his role in Nigeria’s oil sector.
West & Central Africa
Femi Otedola lifts stake in First Bank’s parent with $1.35 million share purchase
Femi Otedola boosts FirstHoldCo stake with $1.35 million share purchase, raising his holding to 16.1 percent.
Nigerian billionaire Arthur Eze secures four oil blocks in Liberia
Nigerian billionaire Arthur Eze’s Atlas Oranto wins four oil blocks in Liberia, boosting the nation’s energy sector revival.
Nigerian industrialist Oskar Ibru, chairman of Ibru Organization, dies at 67
Nigerian industrialist Oskar Ibru, chairman of the Ibru Organization and eldest son of Michael Ibru, has died at 67 after a brief illness.
Nigerian energy mogul Ahonsi Unuigbe named Marconi.NG EPC chairman
Nigerian energy mogul Ahonsi Unuigbe takes the helm at Marconi.NG EPC, operator of West Africa’s largest and most advanced fabrication yard.
Seplat Energy, co-founded by Austin Avuru, to invest up to $3 billion in Nigeria
Seplat Energy to invest up to $3 billion in Nigeria after the Exxon deal, boosting oil and gas output, shareholder returns, and local energy access.
Nigerian billionaire Abdul Samad Rabiu gains $500 million in under a month
Nigerian billionaire Abdul Samad Rabiu gains $500 million in less than a month, fueled by BUA Foods’ strong stock rally.
GTCO, led by Segun Agbaje, posts $301 million H1 profit, down from $608 million
GTCO’s H1 profit drops to $301 million from $608 million amid a sharp fall in dividend income from GTBank.
Zenith Bank to pay Jim Ovia $4.9 million in October
Jim Ovia will receive nearly $5 million from the lender’s $34.5 million interim dividend payout to shareholders.
Canal+, backed by French billionaire Vincent Bollore, moves ahead with $2 billion MultiChoice deal
The deal gives Canal+ effective control of the South African pay-tv giant.
Nigerian businesswoman Aisha Achimugu’s Felak Group rejects ties to $7 million Providus Bank deal
Felak Group rejects reports linking Aisha Achimugu and Oceangate Engineering to a $7 million Providus Bank case.
Nigerian billionaire Femi Otedola warns depot owners as Dangote Refinery reshapes fuel supply
Nigerian billionaire Femi Otedola backs Dangote Refinery, urges depot owners to adapt as $20 billion project transforms Nigeria’s fuel supply chain.
Nigerian aviation mogul Allen Onyema's Air Peace to create 50,000 jobs with new MRO facility
Allen Onyema’s Air Peace begins Lagos MRO project, set to generate 50,000 jobs and boost Nigeria’s aviation industry.
Shoprite Nigeria’s big-store model no longer sustainable under Tayo Amusan’s Ketron
Shoprite Nigeria, under Ketron, is revamping operations, focusing on smaller stores and local supply chains to better serve Nigeria’s market.
British-Nigerian entrepreneur Ladi Delano leads Moove on path to $2 billion
Moove, led by Ladi Delano, targets $2 billion valuation, expanding mobility financing across Africa, the U.S., and Latin America.
Africa’s richest man, Aliko Dangote, plans electric trucks for fuel distribution
Dangote said the next phase of the company’s plan is the adoption of electric trucks, beginning early next year.