U.S.-Nigerian telecom mogul Sam Darwish’s IHS stake tops $90 million
IHS Towers co-founder Sam Darwish sees his holdings rise above $93 million as the company’s market cap nears $2.4 billion.
West & Central Africa
Nigerian banker Peter Ashade-led United Capital signs $3.3 million solar minigrid loan
United Capital, led by Peter Ashade, funds Husk Power’s $3.3M community solar minigrid in Nigeria to expand clean energy access.
Nigerian tech tycoon Leo Stan Ekeh pledges 1 million laptops for students
Leo Stan Ekeh’s Zinox has launched a CSR program to provide one million Nigerian students with laptops, internet, and power support.
Karl Toriola-led MTN Nigeria to spend $664 million on network expansion
The commitment comes despite a difficult year that left the industry struggling with foreign exchange shortages and soaring operating costs.
Ghanaian tycoon Ibrahim Mahama’s E&P acquires Black Volta, Sankofa gold projects
The acquisition followed the transfer of all issued shares from Azumah Resources Ghana Ltd. and Upwest Resources Ltd., according to filings with Ghana’s Registrar of Companies.
Nigerian aviation mogul Obiora Okonkwo’s airline to buy six aircraft for expansion
The deal, sealed at Southwest’s Dallas, Texas headquarters, marks a pivotal step in the Nigerian airline’s fleet expansion strategy.
Nigerian insurance mogul Oye Hassan Odukale guides Leadway Holdings in PAL Pensions deal
Leadway Holdings strengthens its position in Nigeria’s $12.4 billion pension industry with PAL Pensions acquisition.
Nigerian billionaire Femi Otedola’s memoir now No. 1 on Amazon business category
Billionaire Femi Otedola’s Making It Big tops Amazon’s business category, blending memoir with leadership lessons.
Nigerian billionaire Femi Otedola spends $15 million on daughter’s wedding
Temi Otedola, daughter of Nigerian billionaire Femi Otedola, married Afrobeats star Mr. Eazi in a $15 million trilogy, the most expensive wedding in Africa’s history.
Nigerian developer Sijibomi Ogundele wanted by EFCC over alleged money laundering
Sijibomi Ogundele, CEO of Sujimoto Group, faces EFCC probe over alleged money laundering and fund diversion in Nigeria.
Dangote refinery bought crude worth $7.2 million from NNPC in July
Aliko Dangote’s $20 billion refinery bought $7.2 million crude from NNPC in July under Nigeria’s naira-for-crude policy, filings show.
Nigerian banker Jim Ovia’s Zenith Bank to open in Côte d’Ivoire, Cameroon
Jim Ovia’s Zenith Bank will open in Côte d’Ivoire and Cameroon in 2025, with Kenya expansion plans also underway.
Nigerian insurance tycoon Wole Oshin's Custodian stake is now worth $42 million
Wole Oshin’s Custodian stake soars to $42 million as shares rally 142%, boosting wealth and investor confidence in Nigeria’s insurance sector.
Fidelis Ayebae's Fidson partners with Japanese firm to expand Nigeria drug production
Fidson Healthcare expands partnership with Japan’s Ohara to boost local drug production, cut reliance on imports, and improve access to affordable medicines.
Aliko Dangote refinery halts gasoline unit for two weeks
Dangote’s $20 billion Nigerian refinery has shut its gasoline unit for two weeks after technical faults, disrupting output and tightening markets.
Nigerian entrepreneur Seyi Ebenezer’s Payaza secures SEC approval for $13 million commercial paper
Payaza Africa secures SEC approval for $13 million commercial paper, attracting strong investor interest to fund Pan-African expansion and tech upgrades.