Nigerian Logistics tycoon Taiwo Afolabi launches $118-million Lagos Marriott Hotel in Ikeja
The hotel is a partnership between SIFAX Group and Marriott International.
West & Central Africa
DRC could lose billions from resource deals with Dan Gertler: activists
Publicly available data shows that the DRC already lost $1.95 billion between 2003 and 2021.
Nigerian anti-graft agency recovers $153 million from former petroleum minister
An additional 80 homes valued at $80 million have been recovered from ex-Minister Diezani Allison-Madueke.
Nigerian billionaire Aliko Dangote, Aigboje Aig-Imoukhuede team up to improve healthcare in Africa
The duo have signed a deal with the United Nations Economic Commission for Africa.
Nigerian banking executive Herbert Wigwe’s Access Bank Group acquires South Africa’s Grobank
The Nigerian tier-1 capital bank now has a controlling stake in Grobank.
Ghanian tycoon Ibrahim Mahama’s new cement factory set to make waves on local market
It has thus far been dominated by foreign players.
Aliko Dangote’s sugar company confirms price increases months after sugar scarcity controversy
The hike in prices grew Dangote Sugar Refinery’s revenue by 41.5 percent.
Emeka Okonkwo now among Union Bank’s biggest shareholders following acquisition of 2.4 million shares
Okonkwo is also the company’s CEO.
Tony Elumelu Foundation partners with Stanford University to produce research on the mindset of African entrepreneurs
The research revealed that pertinent cultural factors influence women’s entrepreneurial journeys in the region.
Aliko Dangote roped into controversial Onne seaport story with Hadiza Bala
Some have implied that Africa’s richest man played a role in the scandal.
Nigerian multimillion-dollar startup Paystack launches in South Africa
After a six-month pilot program, Nigerian payments platform Paystack has launched operations in South Africa.
Akwa Ibom becomes first regional government to benefit from ASRi social development program
The Abdul Samad Rabiu Initiative has made its inaugural donation to help improve social development in Africa.
Africa’s wealthiest man Aliko Dangote loses $200 million in Dangote Cement stock slide
The billionaire’s net worth peaked at $18.4 billion earlier this year in January.
United Bank for Africa did not fund OML-17 acquisition: Nigerian mogul Tony Elumelu
The businessman and philanthropist addressed the subject during an interview with Arise TV.
Controversy over First Bank of Nigeria’s clash with regulator stirs bank run
A bank run has started at First Bank of Nigeria after a recent scandal concerning its board of directors and the Central Bank.
Honeywell Group releases statement on recent First Bank loan controversy
The Central Bank has dissolved the defunct board of First Bank of Nigeria, expelling Honeywell Group founder Obafoluke Otudeko and Ibukun Awosika as chairpersons.