Segun Agbaje-led Guaranty Trust receives CBN approval to launch payment subsidiary
HabariPay will help expand the group’s services to largely underserved markets.
West & Central Africa
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.
Jumia gains $250.7 million in 17 days after alleged takeover bid by Nigerian tech mogul Leo Stan Ekeh
Jumia shares have skyrocketed as of late.
Cameroonian mogul Paul Fokam’s Afriland exits Uganda over lack of customers
Fokam is one of Africa’s richest men, with a fortune assessed at more than $800 million in 2020.
Nigerian tycoon Akanimo Udofia wins Akwa Ibom APC governorship primary
Udofia is the owner of Desicon Engineering.
Nigerian tycoons Femi Otedola, Hassan-Odukale to pocket $3.9-million in dividends from FBNH
The news comes several months after the businessmen revealed their stakes in the bank.
Kenyan tycoon Suresh Bhagwanji Shah’s I&M Group earns $23.2 million in profit in Q1 2022
Shah built I&M Group into East Africa’s leading commercial banking organization.
Ivorian businessman Jean-Luc Konan’s COFINA Group secures $64.2 million from DPI
Based in Abidjan, COFINA Group was founded in 2014.