U.S.-Nigerian telecom executive Sam Darwish records $7.24 million decline on IHS stake
The decline reflects ongoing investor caution and broader market volatility affecting emerging-market telecom stocks.
West & Central Africa
Femi Otedola calls Dangote Refinery 'eighth wonder' during President Tinubu visit
Femi Otedola praises Dangote Refinery as the “eighth wonder” during President Tinubu’s visit, highlighting Nigeria’s industrial rise and investor confidence.
Burkinabe tycoon Idrissa Nassa’s Coris Bank gets $34 million to expand SME lending in Côte d’Ivoire
Coris Bank secures $34.3 million loan from Proparco to expand SME lending in Côte d’Ivoire and grow its $9 billion footprint across West and Central Africa.
Wale Tinubu's Oando restates 2024 profit at $139 million
Oando's 2024 profit hit $139 million, up 267%, fueled by the NAOC deal, rising production, and improved upstream performance.
Why Tony Elumelu is betting big on UBA with a stake worth over $80 million
In Elumelu’s world, control is currency, and UBA is the crown jewel he’s determined to protect.
Abdul Samad Rabiu’s BUA pours $65 million into port terminal project
This follows public controversy after former Nigerian Ports Authority (NPA) Managing Director Hadiza Bala Usman accused BUA of breaching concession terms.
Ghanaian businessman Joseph Siaw Agyepong signs deal to close dumpsites in Lagos
Joseph Agyepong partners with Lagos to transform waste management, build recycling facilities, create 5,000 jobs, and shift from landfills to resource recovery.
Fidson stake held by Nigerian tycoon Fidelis Ayebae rises by $2.4 million
Over the past 30 days, his stake has surged by N3.8 billion ($2.4 million), propelling the market value of his stake above $13 million.
Nigerian gambling magnate's secret $4.3 million stake in foam manufacturer
Kessington Adebutu’s investment in Vitafoam and Wema Bank highlights his strategic wealth-building beyond Nigeria’s lottery empire, Premier Lotto.
Mike Adenuga’s Globacom expands network to community near Nigeria’s capital
Glo expands mobile network to rural Kura near Abuja, connecting 12,000 residents with LTE, public WiFi for schools, clinics, and businesses.
Seplat, co-founded by Austin Avuru bets big on power sector
The move, announced by CEO Roger Brown, is part of the firm’s long-term strategy to deepen Nigeria’s energy access and industrial development.
Aliko Dangote's mega refinery ends Nigeria’s era as Africa’s top fuel importer
The $20 billion refinery, the largest in Africa and the world’s biggest single-train facility, has reduced Nigeria’s need for imported petrol.
Sam Darwish’s IHS reports $440 million in Q1 2025 revenue
IHS rebounds with $439.6 million in Q1 2025 revenue, driven by 25.6% organic growth and improved margins despite naira headwinds and prior regional divestments.
Otedola hails Tinubu, Cardoso’s reforms as FirstHoldCo regains profitability
At the 13th Annual General Meeting of FirstHoldCo, Otedola pulled back the curtain on the scale of his vision.
Aliko Dangote's refinery set to start polypropylene exports
The move marks a major milestone for Nigerian industrial exports as the country shifts from import dependence to value-added manufacturing.
Hisham Talaat Moustafa's TMG eyes $4.7 billion sales from mixed-use development in Oman
TMG enters Oman with two smart city projects, targeting $4.7 billion in sales as it scales its proven Egypt-Saudi urban model across the Gulf.