Ghana’s richest investor Daniel Ofori gains $2.9 million from GCB Bank stake in 2024
Ofori's stake rose from $5.68 million to $8.61 million, a gain of $2.93 million, despite the impact of currency depreciation on dollar-denominated returns.
West & Central Africa
Haldane McCall raises $1.6 million through Housing unit sales
This milestone underlines the company’s commitment to alleviating Nigeria’s housing deficit while balancing affordability and quality.
Nearly $20 billion added to the wealth of African billionaires in 2024
During the year, the list of African billionaires expanded from 25 to 27.
After selling Nigerian unit to Oando, Eni increases production at Baleine Field in Ivory Coast
The second phase, accelerated from its original late-2024 timeline, now produces 60,000 barrels of oil per day and 70 million standard cubic feet of associated gas daily.
FCMB Group secures $95.2 million in oversubscribed public offer
The bank issued 19.8 billion new shares, priced at N7.3 ($0.005) each, bringing in over 39,000 new investors—underscoring rising interest in the bank.
Nigerian oil tycoon Gabriel Ogbechie gains $2.2 million from Eterna in 2024
The gain comes amid economic headwinds, including a 41.5 percent devaluation of the naira after the Central Bank of Nigeria liberalized exchange rates.
Haldane McCall launches $97 million bond for affordable housing solutions
Highlighting the urgency, Akinlade noted that Lagos State has built only 13,000 homes since 1999, reinforcing the need for private-sector participation.
Vitafoam Nigeria’s profit slumps amid naira devaluation, revenue rises 56%
Vitafoam expands ECOWAS presence with strong Sierra Leone market acceptance, overcoming local financial challenges.
Access Holdings secures CBN, SEC nod for $228 million rights issue completion
The completion of this offering underscores Access Holdings’ strategic resilience and its ability to meet the evolving demands of Nigeria’s financial sector.
Dangote’s wealth hits $28.1 billion, secures spot as world’s richest Black person
This feat places him 68th on the Bloomberg Billionaires Index, securing his position among the world’s top 100 richest individuals.
IHS closes $230 million deal to sell Kuwait unit to Zain Group
This deal represents a pivotal shift in IHS's strategy to optimize its global assets and strengthen its financial footing amid a volatile market.
Airtel Africa kicks off $100 million buyback program for shareholders
This initiative follows a similar $100 million buyback completed in March 2024, further underscoring Airtel Africa’s commitment to capital reduction and rewarding shareholders.
Abdul Samad Rabiu faces $1.6 billion loss in BUA Cement as naira weakens
This underscores Nigerian investors' broader financial challenges amid currency volatility and economic uncertainty.
Naira devaluation cuts $72.4 million from Jim Ovia's Zenith Bank stake
The devaluation of the Naira has eroded nominal gains, reflecting the impact of currency depreciation on wealth accumulation.
Tony Elumelu faces $18 million loss in UBA stake
This highlights the challenges posed by Nigeria’s volatile currency on shareholder wealth.
Aradel-backed consortium gets approval for $2.4 billion Shell deal
The transaction has been designed to preserve SPDC’s operational integrity post-acquisition.