Seplat Energy acquires ExxonMobil Nigeria for $800 million
The deal strengthens Seplat’s leadership in the country’s energy sector and enhances its global standing.
West & Central Africa
Geregu Power eyes $40 million quarterly revenue target for early 2025
Geregu Power, led by Nigerian billionaire Femi Otedola, targets $40 million revenue in Q1 2025 as it builds on robust 2024 performance.
Chappal Energies completes $1.2 billion Equinor Nigeria acquisition
The Nigerian federal government approved the divestment on October 21, 2024, enabling Chappal to take control of ENEC through Project Odinmim.
Naira's slide cuts Abdul Samad Rabiu's wealth by $3.6 billion
This sharp drop has pushed him from fifth to sixth place on the African rich list.
Waymo partners with British-Nigerian entrepreneur’s mobility startup for U.S. expansion
This collaboration marks a pivotal step in Moove’s U.S. market entry and is part of a broader strategy to build the world’s largest fleet.
Femi Otedola leads Geregu Power to milestone as Nigeria’s most compliant listed company
Geregu Power, led by Femi Otedola, wins "Most Compliant Listed Company of the Year" award at the NGX Made of Africa Awards.
UBA targets Saudi Arabia for expansion by 2025
Pan-African bank eyes Middle Eastern growth as profits surge.
Stephen Saad’s Aspen stake drops $99.7 million in 2024
This downturn is driven by a sustained decline in the market value of his holdings in Aspen Pharmacare, Africa's largest pharmaceutical company.
Lagos-based Greek tycoon makes $30 million from Flour Mills stake
John Coumantaros' 63% stake in Flour Mills gains $30 million YTD, fueled by strong financial performance and a buyout plan.
Sam Darwish’s IHS raises $1.2 billion to boost telecom network in emerging markets
IHS led by Sam Darwish plans to boost digital inclusion, economic development through expanded connectivity.
U.S.-Nigerian telecom mogul signs $230-million deal to sell Kuwait tower business to Zain
The transaction, which is expected to close in the first half of 2025 pending regulatory approvals, includes 1,675 telecom sites and 700 managed locations.
UBA expands, set to begin full operations in France
The deal positions UBA under the leadership of Tony Elumelu as a bridge between Africa and the broader global financial ecosystem.
IHS Holding's market woes slice $14.83 million from Sam Darwish’s stake
Despite setbacks in 2024, the telecom sector's long-term growth potential offers hope, with Darwish's leadership crucial for IHS Holding's recovery.
Aliko Dangote plans major investment in Angola
This marks the latest phase in Dangote Industries' ongoing expansion as it looks to capitalize on Angola’s growing economy.
Kessington Adebutu gains $2.1 million from Wema Bank shares
Adebutu's stake surged by $3.26 million between Sept. 18 and Nov. 11, rising from $13.93 million to $17.19 million.
Elon Musk’s Starlink halts orders in Nigeria until price hike is approved
Starlink halts new residential kit orders in Nigeria, citing regulatory hurdles over its proposed price adjustments.