Tony Elumelu's Transcorp H1 profit falls 17% to $39 million as power revenue slides
Tony Elumelu's Transcorp posted a 16.6 percent drop in first-half profit to $39.4 million as gas shortages cut output at its power plants.
West & Central Africa
Nigerian businessman Kola Karim's Shoreline Power lands $200m Afreximbank facility
Afreximbank has approved a $200 million facility for Kola Karim's Shoreline to fund its share of a $980 million Algerian oil field development.
Nigerian billionaire Femi Otedola spends $56 million on First HoldCo shares in his largest single purchase
Femi Otedola spent about $56 million on 706 million First HoldCo shares, his largest single purchase since taking the bank's chairmanship.
Cameroon's richest man Baba Danpullo launches Douala fund to manage family fortune
Cameroon's richest man Baba Danpullo has launched Danpullo Capital, a Douala joint venture with Kessner Capital, to grow family assets.
Nigerian politician Abdulaziz Yari sits on $400 million paper gain at Geregu despite sharp share price slide
Abdulaziz Yari holds a roughly $400 million paper gain on his Geregu Power stake despite a 28 percent share price slide, because he bought at a discount.
Nigerian billionaire Arthur Eze's Oranto and Petrobras were the only bidders as São Tomé scraps oil auction
São Tomé scrapped its offshore oil auction after only Arthur Eze's Oranto and Petrobras bid, a sign of waning appetite for frontier exploration.
Billionaire Femi Otedola's First HoldCo becomes Nigeria's most valuable bank stock, passing Zenith and GTCO
Femi Otedola's First HoldCo has overtaken Zenith and GTCO to become Nigeria's most valuable banking stock, reaching N4.80 trillion.
Nigerian businessman Hakeem Belo-Osagie, Tom Ilube back artificial intelligence centre at University of Benin
Hakeem Belo-Osagie and Tom Ilube have pledged backing for an artificial intelligence centre at the University of Benin's new N100 billion trust fund.
Billionaire Femi Otedola's First HoldCo H1 profit jumps 83% to $474 million, shares hit record high
Femi Otedola's First HoldCo posted a pre-tax profit of $474 million in the first half of 2026 as its shares hit a record high.
Nigerian billionaire Femi Otedola's First HoldCo stake tops $700 million as best-performing bank stock hits record
First HoldCo shares hit a record N105.50 on Monday, lifting Femi Otedola's stake past $700 million after a 120 percent rally this year.
Billionaire Folorunso Alakija unveils six books at Lagos thanksgiving marking her 75th birthday
Nigerian oil magnate Folorunso Alakija unveiled six books on marriage and faith at a thanksgiving service marking her 75th birthday in Lagos.
Nigerian tycoon Tope Shonubi's Sahara Group wins 31-year Kenya gas terminal lease amid Senate probe
Kenya has leased state refinery land in Mombasa to Sahara Group's Asharami Synergy for 31 years, in a gas terminal deal now facing parliamentary scrutiny.
Billionaire Abdul Samad Rabiu's BUA Foods embarks on largest expansion in company history
BUA Foods, controlled by billionaire Abdulsamad Rabiu, has begun the largest expansion in its history, entering the noodles market and scaling wheat milling capacity.
Nigerian court orders final forfeiture of $6.5 million in jewellery and cars from businesswoman Aisha Achimugu
A Nigerian court has ordered the permanent forfeiture of about $6.5 million in jewellery, luxury vehicles and cash recovered from businesswoman Aisha Achimugu.
Cameroonian billionaire Paul Fokam's Afriland opens in Central African Republic
Afriland First Bank, founded by Cameroonian billionaire Paul Fokam, has become the first Cameroonian lender to open in Central African Republic, targeting a largely unbanked market.
Group demands government action over raid on Ghanaian tycoon Sam Jonah's Nigerian real estate company
A Ghanaian group has demanded government intervention over a raid on Sam Jonah's Jonah Capital at Abuja's River Park Estate amid a disputed ownership fight.