Nigerian oil magnate Tein Jack-Rich puts BelemaOil up for sale
This comes just five months after BelemaOil restarted production at Oil Mining Lease 55 (OML 55).
West & Central Africa
13 companies owned by Nigerian shipping tycoon Victor Odili
His investments have positioned him as a quiet force in Nigeria’s corporate world, with ownership in some of the country’s most essential industries.
Seplat, co-founded by Nigerian tycoon Austin Avuru, unveils $650 million notes to slash debt costs
As part of the refinancing process, Seplat has also launched a tender offer allowing investors to sell back their 2026 notes before the March 18, 2025, deadline.
Naira slide cuts $500 million from Nigeria’s third-richest man’s wealth in 24 hours
The sharp decline highlights the volatility of Nigeria’s currency and its direct impact on the fortunes of the country’s wealthiest individuals.
Nigerian banker Jim Ovia’s Zenith Bank stake drops nearly $15 million
This follows a strong performance in January, when his shareholding surged by over $11 million between Jan. 17 and 30.
Aliko Dangote’s refinery, others under pressure as NNPC ends naira-for-crude deal
The move is expected to drive up operational costs and could lead to higher fuel prices.
One year after Lagos waste deal, Ghanaian tycoon Joseph Siaw Agyepong secures Gambia contract
The agreement, finalized in Accra on March 3, marks another step in Jospong’s expansion across Africa.
Nigerian tycoon Kessington Adebutu’s Wema Bank plans $98.9 million rights issue
The offering includes 14.29 billion shares priced at N10.45 ($0.007) each, reinforcing the bank’s efforts to strengthen its financial position.
Nigerian glass and aluminum company sees fourfold profit surge under Bella Disu
Her leadership has not only steered the company back to profitability but has also reinforced the business acumen that runs deep in the Adenuga family.
Seplat, co-founded by Nigerian tycoon Austin Avuru, to pour $320 million into onshore expansion in 2025
The company’s capital expenditure guidance for 2025 includes between $180 million and $220 million allocated to its Seplat Onshore division.
Nigeria’s Vice President, Dangote, and others join Nigerian billionaire Femi Otedola for First Bank’s 43-story HQ
Shettima praised FirstBank and its parent company, FirstHoldCo, under Otedola’s leadership, calling the project a testament to commitment innovation, and sustainable development.
Dangote plans new HQ in Eko Atlantic as FirstBank builds West Africa’s tallest tower
“I will be here very soon,” Dangote said, addressing fellow billionaire Femi Otedola. “And I want to congratulate you on this groundbreaking ceremony.”
Nigerian entrepreneur Idris Bello’s LoftyInc achieves $43 million first close for new Pan-African seed fund
The fund aims to accelerate the growth of promising tech startups across Africa, with a focus on Nigeria, Egypt, Kenya, and Francophone Africa.
Nigerian billionaire Femi Otedola’s First HoldCo breaks ground on new landmark headquarters
For Otedola, this is just the beginning. With the new headquarters underway, he is not just reshaping a bank—he is redefining the future of Nigeria’s financial industry.
Africa’s richest man set to pocket nearly $300 million in cement dividends
Inside Africa’s richest man’s payday from his cement empire, Dangote Cement Plc.
Moroccan pharma executive Lamia Tazi gains $8.14 million from Sothema stake
Tazi holds an 8.19 percent stake in Sothema, equivalent to 589,658 shares.