Nigerian founder Dozy Mmobuosi’s Tingo moves to raise $500 million, market cap soars above $7.6 billion
Mmobuosi co-founded Tingo Mobile in 2001.
West & Central Africa
Peter Ashade’s United Capital earns $27 million in profit as managed funds surpass $785 million
United Capital is a fast-growing banking and investment services business.
Ten richest investors on the Ghana Stock Exchange in 2022
The Ghana Stock Exchange provided outstanding profits to investors and other market players in 2020 and 2022.
Led by wealthy Ivorian Billon family, Palmci gains $45.4 million since start of 2022
Palmci operates as a subsidiary of SIFCA, an Ivorian agro-allied conglomerate.
Nigerian entrepreneur Olugbenga Agboola’s Flutterwave becomes most valuable startup in Africa
The funding comes on the heels of a five-year run in which Flutterwave has completed more than 200 million transactions totaling over $16 billion.
Banking tycoon Tony Elumelu gains nearly $2.8 million from stake in UBA
Elumelu has recently shown interest in Caribbean markets as part of a strategic drive to foster wealth creation through partnership.
Ghana’s richest stock market investor Daniel Ofori’s stake in Societe Generale Ghana is worth over $9 million
Ofori owns 6.8 percent of the Accra-based bank.
Nigerian MMA fighter Israel Adesanya earns $1.54 million in first fight under lucrative contract with UFC
Adesanya remains undefeated in the UFC middleweight division.
Nigeria’s second-richest man Abdul Samad Rabiu loses more than $180 million in 28 days
BUA Foods is a consolidated food business controlled by Rabiu, who owns 99.8 percent of the business.
Led by Ukrainian entrepreneur Anton Volianskyi, Jiji acquires Ghana’s leading online marketplace, Tonaton
Volianskyi founded Jiji in Lagos in 2014, and it has since grown to become one of the continent’s leading online marketplace.
Africa’s richest man Aliko Dangote gains more than $950 million so far this year
The surge in his net worth represents the largest wealth gain by an African billionaire since January.
Led by Nigerian banker Segun Agbaje, GTCO acquires Investment One Funds Management
The transaction was completed eight months after the group transitioned into a holding structure.
Cameroonian banker Alain Nkontchou gains over $1.5 million from stake in pan-African banking group, Ecobank
Nkontchou, who is the chairman of the Togo-based financial services company, holds 0.98 percent of Ecobank.
Nigerian businessman Tony Elumelu’s oil firm submits offer to acquire Shell’s JV assets in Nigeria
With the recent bid, the Elumelu-backed oil firm is set to compete with key players in Nigeria’s oil and gas industry.
Led by Nigerian investor Iyinoluwa Aboyeji, Future Africa’s assets reach $30 million
According to Aboyeji, financial services remains its top sector, accounting for 55.7 percent of the fund’s investments.
Indian billionaire Sunil Bharti Mittal’s Airtel Africa reports $514 million in profit in 9M 2021
In comparison to the previous year’s figures, the telecom company’s profit increased by 97.3 percent.