How Indian tycoon Peeyush Garg built a $74 million-a-year FMCG empire in Nigeria
Peeyush Garg built Daraju from a Ladipo Street trading business into a maker of MYMY toothpaste with ₦111 billion in annual sales.
West & Central Africa
Cameroonian billionaire Baba Danpullo at war with Vietnam's Viettel over Nexttel
Viettel has asked Cameroon's president to block any new Nexttel investor without its consent, reviving its long fight with billionaire Baba Danpullo.
Senegalese chicken billionaire Babacar Ngom to build $35 million poultry complex in Congo
Babacar Ngom's Sedima will invest 20.47 billion CFA francs, about $35 million, in an integrated poultry and grain complex in Congo's Pool department.
Billionaire Jim Ovia warns Nigeria against trading quality for more universities
Zenith Bank founder Jim Ovia says Nigeria's fast-growing number of universities, now about 312, must not come at the expense of quality.
Africa's richest man offers East Africa 30% of his $16 billion Kenya refinery
Kenya is weighing a 10% stake worth about $500 million in Dangote's Lamu refinery, part of a 30% share offered to East African governments.
Burkinabè billionaire Idrissa Nassa's Coris Bank donates $178,000 to children of fallen soldiers
Idrissa Nassa's Coris Bank International has given 100 million CFA francs to Burkina Faso's government to support children of soldiers and volunteers killed in action.
Franco-Lebanese tycoon Hayssam El Jammal Prometal secures $45 million Afreximbank loan
Afreximbank has approved a €40 million revolving facility for Prometal, the Cameroonian steel group built by Franco-Lebanese industrialist Hayssam El Jammal.
Nigerian billionaire Jim Ovia gains $144 million on Zenith Bank shares in third quarter
Jim Ovia's Zenith Bank stake rose $144 million in the third quarter as the lender's shares climbed 27.6% on the Nigerian Exchange.
Nigerian businessman Fola Adeola gains $55 million on Aradel shares in third quarter
GTBank co-founder Fola Adeola's Aradel stake rose $54.7 million in the third quarter as Nigerian oil producers rallied on high crude prices.
Gabonese billionaire Samuel Dossou-Aworet gains $430 million in Q3 as Seplat and Aradel shares surge
Samuel Dossou-Aworet's stakes in Seplat Energy and Aradel Holdings rose $430 million in the third quarter as Nigerian oil stocks rallied.
Nigerian billionaire Femi Otedola gained $815 million in Q3 as First HoldCo shares nearly tripled
Femi Otedola gained about $815 million in the third quarter as First HoldCo shares rose 180% while he spent 351 billion naira on more stock.
Billionaire Aliko Dangote gained $2.3 billion in 3rd quarter, excluding refinery revaluation
A 19.7% rally in Dangote Cement lifted Aliko Dangote's listed stakes by $2.31 billion in the third quarter, separate from Forbes' refinery revaluation.
Former Nigerian President Goodluck Jonathan praises Azikel's $1 billion refinery
Goodluck Jonathan toured Eruani Azibapu's $1 billion Azikel refinery in Bayelsa, backed by Afreximbank and AFC, calling it a hub for Niger Delta industry.
Nigerian billionaire Tony Elumelu buys 6 million more Seplat shares, lifting stake to 21%
Tony Elumelu bought 6 million more Seplat shares through Heirs Energies, raising his combined stake in the Nigerian oil producer to 21.07%.
Dangote refinery runs above full capacity for the first time
Dangote's refinery ran at 105% of capacity in August, supplying 71% of Nigeria's petrol and cutting diesel imports by more than 80%.
Africa's richest man breaks ground on $16 billion petroleum refinery in Kenya
Aliko Dangote and William Ruto broke ground at Lamu on Sept. 30 on a refinery designed to process 700,000 barrels of crude a day by 2029.