Nigerian billionaire Emeka Okwuosa's Oilserv signs gas deal with Gabon's government
Oilserv has agreed with Gabon to develop the DEF-3 and D4-5 blocks, two months after completing its section of Nigeria's AKK gas pipeline.
West & Central Africa
Nigerian oil tycoon Wale Tinubu wins approval to list Oando on any exchange he chooses
Oando shareholders authorised listings on any exchange. Its liabilities exceed its assets by N530 billion and debt costs exceed operating profit.
Nigerian billionaire Femi Otedola gains $138 million on Friday as FirstHoldCo shares hit record high
First HoldCo rose 10% to N162.80 on Friday morning, a record, adding about N182.6 billion to Femi Otedola's stake in a single session.
Nigerian billionaire Rasheed Sarumi's Presco is spending $400 million to grow palm oil in four states
Rasheed Sarumi's Presco has pledged $200 million each to Ondo and Abia, after spending $171.6 million on plantations in Ghana and Nigeria.
Billionaire Femi Otedola's First HoldCo out-earns every major bank in Nigeria and South Africa
First HoldCo posted a 31.63% return on average equity in the first quarter, the highest of any tier-1 bank in Nigeria or South Africa.
Nigerian billionaire heir Osahon Okunbo invests in US cancer AI company
Vetrinox Capital, the Lagos family office of Osahon Okunbo, has invested in Hurone AI, its first commitment to United States healthcare.
Cameroonian billionaire Paul Fokam has not set foot in the country where his bank dominates
Paul Fokam persuaded Paul Biya to waive a law in 1986 so he could found a bank with no state money. It is now Cameroon's largest.
Dangote refinery boss defends $49 billion valuation
A US refiner with more capacity than Dangote's is worth about $16 billion. A Turkish one is worth $12 billion. Aliko Dangote is asking investors for $49 billion and his chief executive says the comparison is the wrong one.
How billionaire Mofid Karameh built the Mikano empire in Nigeria making generators, cars and syringes
Mofid Karameh founded Mikano in 1993 servicing generators. It now has six divisions making cars, boats, syringes, brake pads and wafers.
Ivorian Palm oil billionaire Jean-Louis Billon has been named an IUCN Patron of Nature in China
The IUCN named SIFCA chairman Jean-Louis Billon a Patron of Nature on Sept. 14, the first from West Africa in the programme's 16-year history.
Coleman, owned by Nigeria's wealthy Onafowokan family, is now the biggest cable maker in West Africa
Coleman Technical Industries ranks sixth in Africa and first in West Africa, chairman Solomon Onafowokan said at its new headquarters opening.
Adaora Umeoji's Zenith Bank stake is now worth $27 million
Adaora Umeoji holds 285,096,933 Zenith Bank shares, worth N35.89 billion at Monday's close, the largest stake held by any Nigerian bank chief.
Nigerian-Lebanese tycoon Bassim Haidar's Optasia is pivoting from airtime to electricity
Optasia is moving into electricity advances and credit card-style loans, months after founder Bassim Haidar cut his stake from 19.3% to 1.5%.
Aliko Dangote is worth $51.3 billion, more than twice Nigeria's other billionaires combined
Forbes puts Aliko Dangote at $51.3 billion on Sept. 14, against $21.1 billion for Abdulsamad Rabiu, Mike Adenuga and Femi Otedola combined.
Nigerian billionaire Aliko Dangote crosses $50 billion on the Forbes list
Forbes has revalued Aliko Dangote above $50 billion, adding about $20 billion, after the July private placement repriced his refinery.
Billionaire Aliko Dangote says refinery could pursue U.S. secondary listing
Billionaire Aliko Dangote says his refinery could pursue a U.S. secondary listing in about three to four years after establishing a public trading record in Nigeria.