Demola Sogunle-led Stanbic IBTC reports near 40-percent decline in 9M 2021 profits
The company operates as a member of Standard Bank Group, a financial services giant based in South Africa.
West & Central Africa
Nigeria’s oldest bank confirms billionaire Femi Otedola’s acquisition of $54.2-million stake
Otedola is known for building corporate juggernauts in the energy, shipping, real estate and finance sectors.
Led by Tunisian Ben Yedder family, Ennakl Automobiles posts $153 million in revenue in 9M 2021
Ennakl is a Tunisian auto retailer selling cars under the Volkswagen, Audi, Seat and Porsche brands.
Paystack Co-Founder Ezra Olubi, others inject $1.7 million into Brass Banking startup
The Nigerian digital banking startup seeks to address the underserved banking needs of local entrepreneurs.
Billionaire industrialist Aliko Dangote set to deliver MKO Abiola National Stadium Abuja to Nigeria in November
Unforeseen glitches extended the project handover deadline, which was originally scheduled for March.
Nigerian billionaire Femi Otedola acquires significant stake in First Bank of Nigeria Holdings
Otedola remains one of Nigeria’s wealthiest businessmen, who has conquered industries ranging from banking to oil and gas.
Swiss nonprofit: Belgian tycoon Hubert Fabri’s Socfin Group allegedly shifts profits outside Africa
Bread for All claimed that the group minimizes its tax burden through the use of offshore jurisdictions.
Nigerian billionaire Mike Adenuga’s net worth increases by $200 million in 2021
The Globacom founder’s net worth at the beginning of this year was valued at $6.3 billion.
Here’s how U.S. Congressman Jeff Fortenberry got pulled into a corruption case linked to Nigerian-Lebanese tycoon Gilbert Chagoury
He is accused of lying to authorities during an investigation into Chagoury’s illegal campaign contributions.
Ghanaian executive Ebenezer Asante gains $740,000 as MTN Ghana stock price skyrockets
MTN Ghana, a subsidiary of MTN Group, is Ghana’s largest telecom operator.
Tax tribunal favors John Ugbe-led MultiChoice Nigeria against tax master
Earlier, MultiChoice had filed an appeal over a perceived wrongful tax assessment spanning 10 years.
Fintech tycoon Dare Okoudjou’s MFS Africa acquires leading Nigerian fintech startup
The startup, Capricorn Digital, has an impressive footprint across Nigerian households.
Nigerian energy magnate Austin Avuru loses $5.9 million in 49 days as Seplat Energy shares take dive
Seplat Energy is a leading Nigerian independent energy company.
Peter Ashade-led United Capital posts $14.53 million in profit in 9M 2021, assets surge by 72 percent
United Capital is a financial and investment services company based in Lagos, Nigeria.
Olugbenga Agboola’s Flutterwave in talks with investors to triple valuation to $3 billion
The company’s Series-C round in March brought its valuation to over $1 billion.
Shares in telecom tycoon Sam Darwish’s IHS Towers plunge 18 percent after recent IPO on NYSE
The listing still managed to raise $378 million to fund the company’s growth plans.