Nigerian oil mogul Muazzam Mairawani plans $225 million U.S. IPO after $15 billion oil find
Nigerian tycoon Muazzam Mairawani’s MSM Group plans a $225 million U.S. IPO after discovering $15 billion in oil reserves to expand Nigeria energy ventures.
West & Central Africa
Malagasy tycoon Hassanein Hiridjee’s AXIAN Energy to build $53 million solar plants in Benin
AXIAN Energy partners with Sika Capital on a $53 million solar project to power 50,000 homes in Benin.
Nigerian tycoon Rasheed Sarumi-led Presco gets nod for $162.8 million raise
Presco shareholders approve $162.8 million rights issue to fund acquisitions, expansion, and balance sheet growth under Rasheed Sarumi’s leadership
Nigerian tycoon Abdullahi Bashir Haske targeted as EFCC seeks to freeze $15 million account: Report
EFCC seeks to freeze $15 million belonging to Nigerian businessman Abdullahi Bashir Haske amid money laundering and criminal conspiracy claims.
U.S.-Nigerian mogul Sam Darwish’s stake in IHS nears $90 million
Sam Darwish’s stake in IHS Towers approaches $90 million as the NYSE-listed telecom company climbs 137% in 2025 on growth in Africa and Brazil.
Cameroon’s richest woman loses cocoa export crown after Cargill split
Kate Fotso’s Telcar Cocoa lost its top spot in Cameroon’s cocoa trade after ending a two-decade partnership with U.S. giant Cargill.
Nigerian tycoon Segun Lawson, partners hold $40 million stake in nation’s top gold mine
Riding record profits from its Nigerian mine, Thor Explorations’ stock has soared nearly 270%, boosting the fortune of its founder, Segun Lawson and his Nigerian partners.
Femi Otedola’s memoir climbs to No. 3 on Amazon UK best-seller list
Just days after release, Femi Otedola’s debut memoir Making It Big has surged to the top tier of Amazon’s business biography rankings.
Africa’s richest man Aliko Dangote loses $549 million overnight
Aliko Dangote’s net worth drops $549 million as Dangote Cement shares fall nearly 10 percent, reducing his stake to $4.96 billion.
MTN names Nigerian executive Karl Toriola to oversee Francophone Africa markets
MTN expands Karl Toriola’s role to VP for Francophone Africa as Nigeria drives growth and South Africa lags in group earnings.
Nigerian logistics mogul Taiwo Afolabi’s fortune rises as SAHCO stake nears $50 million
Nigerian mogul Taiwo Afolabi’s SAHCO holding climbs to $48 million, backed by soaring revenue, profit, and investor confidence.
Nigerian oil tycoon Gabriel Ogbechie loses $6 million from Eterna stake
Eterna’s market cap slips below $35 million as Gabriel Ogbechie’s stake drops, but shares remain up 56% this year.
Nigerian billionaire Femi Otedola releases memoir 'Making It Big'
Nigerian billionaire Femi Otedola has released his memoir, Making It Big, offering a candid look at his rise as a self-made entrepreneur and insights into Africa’s business world.
Alain Nkontchou, the Cameroonian banker behind $100-million Ecobank stake
Alain Nkontchou invests $100 million to become Ecobank’s largest shareholder with 5.95 billion shares and greater influence on its future.
Oando, led by oil mogul Wale Tinubu, distributes 679 million shares to investors
Oando, led by Wale Tinubu, issues 679 million bonus shares, rewarding investors with 8.3% amid Nigeria’s oil market challenges.
Nigerian tycoon Rasheed Sarumi to pocket $46-million in Presco palm oil deal
Presco’s $46 million takeover of Saro Oil Palm delivers a windfall to its own chairman, deepening questions over governance.