Nigerian oil mogul Sayyu Dantata’s MRS Oil sees profits exceed $4 million in 2024
MRS Oil’s ability to navigate inflationary headwinds and leverage supply chain efficiencies highlights its resilience in Nigeria’s volatile energy sector.
West & Central Africa
Nigerian billionaire Femi Otedola’s Geregu Power reports $26 million profit in 2024
This robust result follows a history of consistent financial success, positioning the company at the forefront of Nigeria’s power sector.
Nigeria’s richest banker Jim Ovia gains $11.6 million as Zenith Bank completes public offer
This increase highlights the strong performance of the Lagos-based lender and the confidence investors have in its prospects.
Forbes ranks two U.S. Black billionaires above Nigeria’s richest man, Aliko Dangote
While Forbes values Dangote’s wealth at $10.6 billion, Bloomberg’s estimate at $27.2 billion includes his stake in the Dangote Oil Refinery.
French giant buys Guinness Ghana, two years after acquiring glass maker from Algerian businessman
This move is part of Castel’s broader strategy to expand its presence across Africa, having already established itself in North, West, and Central Africa.
U.S.-Nigerian telecom executive Sam Darwish’s IHS stake rebounds above $45 million
Darwish's recent gains highlight his ability to adapt and make strategic decisions that enhance IHS Holding’s position in the global telecom market.
Aradel, led by Nigerian businessman Ladi Jadesimi, reports $160 million profit in 2024
This milestone secured it a spot as one of Nigeria’s most profitable companies, showcasing a dramatic 361.1 percent increase in profitability compared to the prior year.
Zenith Bank, led by Nigerian banker Jim Ovia, raises $230.3 million in public offering, rights issue
This milestone solidifies Zenith’s position as one of Nigeria’s top-capitalized financial institutions.
Nigerian President’s nephew, Wale Tinubu, confirms Oando’s oil facilities hold over $10 billion in value
This highlights Oando's dominance in the energy landscape as the company continues to expand its footprint both locally and globally.
Moniepoint, led by Tosin Eniolorunda, receives Visa backing after reaching $1 billion valuation
This investment signals the beginning of a partnership between Visa and Moniepoint, a collaboration that could reshape Africa’s digital payments landscape.
Nigerian insurance tycoon Wole Oshin makes $1.9 million from Custodian shares
As the largest shareholder and group managing director, Oshin wields considerable influence, holding a 27.05 percent stake in Custodian Investment.
Nigerian billionaire Adebayo Ogunlesi’s net worth increases to $2.3 billion one week after joining OpenAI board
The sharp increase in his fortune is tied to Adebayo Ogunlesi’s investment portfolio, valued at over $1.8 billion.
Sayyu Dantata, half-brother of Africa's richest man, struggles to sell $22 million Banana Island mansion
Dantata’s decision to sell the mansion coincides with reports that he is contemplating a return to his hometown of Kano State.
Nigerian gambling magnate Kessington Adebutu-backed Wema Bank to raise additional $128 million
The move aims to strengthen its capital base and solidify its position as a leading player in the country’s financial sector.
Nigerian gambling magnate Kessington Adebutu loses $3.6 million from Wema Bank shares
This setback follows a challenging year for Adebutu, who saw his Wema Bank stake drop by $2.73 million in 2024.
South African billionaire Saltzman family's Dis-Chem stake declines by $26.3 million
This comes after a period of growth in 2024, reflecting the group’s resilience last year.