Nigerian billionaire Femi Otedola's net worth soars by $100 million to $1.7 billion amid naira's recovery
His $100 million gain comes after an impressive 2024, during which his net worth grew by $600 million
West & Central Africa
10 influential Ghanaian business moguls who are shaping Africa's future
Beyond their corporate success, many of these leaders are also driving social change through investments in education, healthcare, and infrastructure.
Nigerian pharma tycoon Fidelis Ayebae’s Fidson posts $3.41 million profit in 2024
This growth was driven by a surge in sales of ethical and OTC products, reinforcing Fidson’s position as a top player in Nigeria’s pharmaceutical industry.
Nigerian President Bola Tinubu’s nephew leads oil company to $2.7 billion revenue in 2024
This was driven by higher crude oil volumes, rising gas prices, and favorable exchange rate translations.
Africa’s richest man Aliko Dangote’s refinery cuts petrol price by 6 percent
The decision follows favorable shifts in the global energy market and a notable drop in international crude oil prices.
Nigerian billionaire Femi Otedola’s Geregu Power to pay $14.4 million final dividend to shareholders
The final dividend for the year ended Dec. 31, 2024, amounts to N21.25 billion ($14.4 million), translating to a payout of N8.5 per share.
Nigerian billionaire Abdul Samad Rabiu’s BUA Foods reports $182.7 million profit in 2024
The company’s profit more than doubled, reaching over $180 million, underscoring its growing influence and market presence in Nigeria’s food sector.
Billionaire Femi Otedola leads FBN Holdings to record gross earnings of more than $2 billion
The group’s gross earnings surged past $2 billion, further solidifying its place among Nigeria’s leading financial institutions.
British-Nigerian entrepreneur Ladi Delano’s startup acquires Brazil’s mobility provider Kovi
Deal strengthens global mobility fintech’s presence in Latin America, expands AI-driven fleet management.
10 assets owned by Nigeria’s richest woman Folorunso Alakija
Alakija’s path to prominence began in 1974, when she took on the role of secretary at Sijuwade Group, a conglomerate owned by the late Oba Okunade Sijuwade.
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.
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.