Aliko Dangote, Zimbabwe sign $1 billion deal for 2,000km energy pipeline
The deal covers a new fertilizer plant and a 2,000-kilometer pipeline running from Namibia’s Walvis Bay port, through Botswana, to Bulawayo, Zimbabwe’s second-largest city.
West & Central Africa
IFC proposes $15 million loan to Ayodele Aderinwale’s Justrite to accelerate expansion
IFC is considering a $15 million loan to Justrite to fund 25 new stores, boosting the Nigerian retailer’s nationwide expansion and supply-chain capacity.
Jim Ovia, Nigeria’s richest banker, gains $37 million from Zenith Bank stake
Jim Ovia adds $37.2 million to his Zenith Bank stake as the lender’s shares surge on the NGX.
Seplat, co-founded by Austin Avuru, raises crude production with 26 wells rehabilitated
Seplat boosts crude output by 33,000 barrels daily after reviving 26 wells, driving Nigeria’s oil and energy recovery.
Aliko Dangote launches $700 million plan to boost Nigeria’s sugar output
Dangote begins a $700 million sugar expansion aimed at boosting local output and cutting Nigeria’s import dependence.
Paystack suspends Nigerian co-founder Ezra Olubi as misconduct review grows
Paystack suspends Ezra Olubi as allegations of misconduct emerge, prompting a formal investigation by the company.
Cameroon’s richest man, Baba Danpullo, blocked from selling Sodecoton stake
President Paul Biya halts Baba Ahmadou Danpullo’s plan to sell his Sodecoton stake, keeping Cameroon’s richest man in the cotton giant.
Access Holdings, led by Aigboje Aig-Imoukhuede, vests shares to 689 staff
Access Holdings, led by Aigboje Aig-Imoukhuede, rewards 689 employees with shares under its incentive plan.
Aliko Dangote’s net worth slips below $30 billion as cement shares fall
Aliko Dangote’s wealth falls below $30 billion after a decline in Dangote Cement shares amid investor caution and tax policy concerns.
Africa’s richest man, Aliko Dangote, strikes fertilizer deal with German firm
Dangote Fertilizer signs a deal with Germany’s thyssenkrupp Uhde to boost Nigeria’s urea capacity and strengthen food security.
Senegal businesswoman wins $4.6 million to boost Gade Gui egg output
Adama Sène Cissé secures $4.6 million from Proparco to expand Gade Gui’s egg production, boosting Senegal’s local food supply.
Cameroonian tycoon Paul Fokam moves to launch Afriland First Bank in Chad
Cameroonian banker Paul Fokam plans to open Afriland First Bank subsidiary in Chad, expanding the group’s regional presence.
Nigerian pharma tycoon Fidelis Ayebae’s stake surges past $21 million
Fidelis Ayebae’s Fidson stake tops $21 million after a 158% stock rally, driven by growing demand for local drugs.
Cosmas Maduka: If Coscharis were listed, I’d be worth $5 billion
Nigerian entrepreneur Cosmas Maduka says Coscharis Group could make him worth $5 billion, reflecting decades of business growth and influence.
Kenyan tycoon Jimnah Mbaru gains $3 million from Britam shares
Kenyan tycoon Jimnah Mbaru gains $3 million as Britam shares surge on Nairobi Securities Exchange.
Tony Elumelu-linked distribution company sends 800 workers home
About 800 workers at AEDC linked to Nigerian investor Tony Elumelu, were laid off this week as part of a company restructuring