Nigerian billionaire Abdul Samad Rabiu’s BUA Foods doubles nine-month profit to $283 million
BUA Foods, led by billionaire Abdul Samad Rabiu, doubles nine-month profit to $283 million on rising sales and cost control.
West & Central Africa
Nigerian billionaire Femi Otedola’s First HoldCo posts $1.7 billion in gross earnings
Femi Otedola’s First HoldCo posts $1.7 billion gross earnings in nine months, with strong asset and equity growth.
American-Burkinabè banker Simon Tiemtoré's Vista Bank eyes controlling stake in ACEP Cameroon
Vista Bank, led by Simon Tiemtoré, is in advanced talks to acquire a controlling stake in ACEP Cameroon to expand across Central Africa.
Oando links $450 million revenue loss to Aliko Dangote’s $20 billion refinery
Oando blames a $450 million revenue fall on Dangote’s $20 billion refinery as it shifts focus to crude and gas trading.
Burkinabe tycoon Idrissa Nassa’s Coris Holding gets $115.7 million to boost banking in West Africa
Idrissa Nassa gets $115.7 million investment to grow Coris Bank and expand banking access across West Africa.
Nigerian oil mogul Wale Tinubu’s Oando reports $145 million 9-month profit
Oando posts $145 million profit in 9 months as production rises and NAOC acquisition boosts output.
Nigerian billionaire Femi Otedola's FirstHoldCo settles $350 million Eurobond
FirstBank, the flagship banking subsidiary of FirstHoldCo, redeems a $350 million Eurobond, reinforcing liquidity and investor confidence.
Nigerian billionaire Adebayo Ogunlesi-linked OpenAI prepares IPO that could top $1 trillion
OpenAI, backed by Nigerian billionaire Adebayo Ogunlesi, prepares a $1 trillion IPO to fund AI expansion and acquisitions.
American-Nigerian mogul Sam Darwish’s IHS slashes diesel consumption by 50 million liters
Sam Darwish’s IHS Nigeria saves 50 million liters of diesel with $750 million investment in hybrid and solar systems.
Nigerian billionaire Abdul Samad Rabiu’s BUA Cement posts $200 million nine-month profit
Abdul Samad Rabiu’s BUA Cement reports a $200 million profit in nine months, driven by higher sales, strong demand, and efficient cost control.
Africa’s richest man Aliko Dangote seeks $5 billion to expand Lagos refinery
Dangote seeks $5 billion to expand Lagos refinery, aiming to double output and boost Nigeria’s energy independence.
Nigerian entrepreneur Innocent Onwunali expands spirits portfolio with new launch
Nigerian entrepreneur Innocent Onwunali’s IKI Leads debuts Doncoco, a new line of locally crafted spirits blending quality, flavor, and homegrown pride.
Nigerian businessman Tony Elumelu’s Transcorp grows profit 20% to $62 million in nine months
Transcorp, chaired by Nigerian businessman Tony Elumelu, reports a 20% profit rise to $62 million, boosted by power and hospitality growth.
Access Holdings, led by Aig-Imoukhuede, posts profit drop on lower forex gains
Access Holdings, led by Aigboje Aig-Imoukhuede, reports a profit decline as lower forex gains and rising costs weigh on results.
Aliko Dangote’s cement company profit nearly triples to $508 million
Aliko Dangote’s Dangote Cement profit jumps to $508 million, marking a milestone for Nigeria’s largest cement producer.
Abdul Samad Rabiu set to become Nigeria’s next $10 billion man
Nigerian billionaire Abdul Samad Rabiu’s fortune hits $9.2 billion, fueled by strong gains in BUA Foods and BUA Cement shares.