Nigerian billionaire Mike Adenuga’s Conoil reports $1.34 million in profit in Q1 2022
Adenuga’s 74.4-percent stake in the company is worth $32.6 million.
West & Central Africa
Africa’s richest man Aliko Dangote’s net worth rises by $1.57 billion
This is significantly greater than the $1.3-billion increase in his net worth in 2021.
Swazi billionaire Natie Kirsh loses $280 million in April 2022
The loss is due to a decrease in the valuation of his majority stake in Jetro Holdings.
Nigerian tycoon Oba Otudeko pockets $53 million from Flour Mills-Honeywell deal
Otudeko owns 66.8 percent of Honeywell Flour Mills.
Highly indebted Nigerian tycoon Jimoh Ibrahim declares intention to run for seat in Senate
Ibrahim is the chairman of Global Fleet Group, a floundering West African conglomerate.
Africa’s richest man Aliko Dangote becomes world’s 70th richest person as net worth surpasses $20.4 billion
Dangote began the year as the 97th richest man in the world.
Herbert Wigwe’s Access Holdings posts $138.2 million in profit in Q1 2022
Access Holdings ranks as one of the most capitalized financial services institutions on the Nigerian Exchange.
Nigerian banking tycoon Jim Ovia’s Zenith Bank posts $140.1 million in profit in Q1 2022
Ovia owns a significant 16.2-percent stake in the company.
Nigerian businessman Tony Elumelu’s UBA earns $100 million in profit in Q1 2022
Elumelu owns a sizable 6.39-percent stake in the company.
Led by Tope Alabi, Nigerian fintech startup Afriex raises $10 million from institutional investors
Alabi and John Obirije founded the Lagos-based fintech startup Afriex in 2019. It is now valued at $60 million.
Nigerian tycoon banker Herbert Wigwe gains over $1.2 million in seven days
Four weeks ago, the bank completed its transformation from Access Bank Plc to Access Holdings Plc.
Elon Musk buys Twitter for $44 billion, twice net worth of Africa’s richest man, Aliko Dangote
So far this year, Musk’s net worth has dropped by over $13 billion, while Dangote’s risen by $1.32 billion.
Nigerian billionaire Mike Adenuga gains $5.2 million from stake in oil company
Conoil is a Nigerian petroleum marketing company led by Adenuga, who owns 74.4 percent of the company.
Nigerian billionaire Abdul Samad Rabiu’s BUA Cement posts $79.7 million in profit in Q1 2022
The result suggests that it is on track to deliver yet another record performance at the end of Q2 2022.
Africa’s richest man, Aliko Dangote, gains $500 million in 14 days, as cement company shares skyrocket
His year-to-date wealth gains are now $1.33 billion.
Nigerian tycoon Obafoluke Otudeko gains $6 million in 17 days from flour-milling business, Honeywell
The recent increase in Otudeko’s stake can be attributed to a 13.9-percent increase in the company’s stock price.