Africa’s richest man Aliko Dangote gains back $200 million after losing $1 billion in day
The $200-million wealth bump can be linked to the rising share price of his cement and sugar businesses.
West & Central Africa
Ghanaian cement tycoon Ibrahim Mahama signs partnership deal with Renault
Mahama, the founder of Dzata Cement, will set up an assembly plant in Ghana under the French vehicle manufacturer.
Paystack Co-Founder Shola Akinlade, others invest $3.5 million in Edukoya ed-tech startup
Edukoya plans to use the capital raised to expand its team, technology and learner base.
Led by Karl Toriola, MTN Nigeria’s 5G roll-out bid receives massive boost after spectrum license acquisition
The development comes hours after the telecom giant closed its first public offering of millions of shares held by MTN Group.
Burkinabe construction tycoon Mahamadou Bonkoungou’s IB Holding acquires state-owned BTCI
Mahamadou Bonkoungou is the owner of EBOMAF S.A., one of the largest construction companies in Francophone Africa.
Nigerian tycoon Julius Rone signs $2-billion deal to launch first floating LNG project
The project is expected to be fully completed in 2026.
Nigerian billionaire Femi Otedola cements position as largest shareholder in Nigeria’s oldest bank
Otedola recently bought another 898,730,515 shares in the bank.
Africa’s wealthiest man Aliko Dangote loses over $1 billion in single day as investors book profit
Yet his $19.1-billion net worth makes him the richest Black man alive and the 100th wealthiest man in the world.
Nigerian serial founder Sim Shagaya’s uLesson secures $15 million in China-led Series-B round
uLesson is a home-tutoring platform founded by Shagaya in 2019.
Nigerian billionaire Abdul Samad Rabiu unveils food company BUA Foods, set to list on NGX
BUA Sugar Refinery Limited, BUA Oil Mills Limited, IRS Flour, IRS Pasta and BUA Rice Limited have merged to form BUA foods.
Ivorian technopreneur Idriss Monthe’s CinetPay receives $2.4 million in funding from 4DX Ventures, Flutterwave
CinetPay, a digital finance platform with operations across Francophone Africa, has seen impressive growth since its founding in 2016.
Nigerian billionaire Femi Otedola loses $2.9 million in four days as First Bank shares fall
FBN Holdings is one of the largest financial services organizations in Africa.
Nigerian billionaire Abdul Samad Rabiu secures $200 million from AFC to complete multimillion-dollar sugar project
The development significantly boosts Nigeria’s quest to ensure self-sufficiency in sugar production.
Ghanaian logistics tycoon Daniel McKorley signs $810,000 sponsorship deal with football club
The deal will see the club pocket up to $270,000 per year for the duration of the contract.
Equinix to acquire startup founder Funke Opeke’s MainOne for $320 million
MainOne is West Africa’s leading communications services and network solutions provider.
Ade Ayeyemi-led Ecobank posts strong earnings as profit soars nearly tenfold above $256 million
Ecobank is the leading independent regional banking group in West and Central Africa.