Nigeria’s richest banker Jim Ovia’s Zenith Bank stake rebounds above $120 million
The surge in Ovia’s stake marks a recovery from the impact of the recent devaluation of the Nigerian currency, which saw his fortune dip below $100 million in February
West & Central Africa
Dangote’s half-brother Sayyu Dantata eyes sale of lavish Banana Island mansion
The leading businessman known for his affinity for luxury and lavish assets, is reportedly contemplating a return to his hometown of Kano State.
Africa’s richest man Aliko Dangote loses $8.7 billion amid Nigeria’s currency woes
This decline is influenced by the recent devaluation of the Nigerian currency — the country’s second devaluation in eight months.
Nigerian tycoon Tony Elumelu launches Heirs Technologies to lead digital transformation in Africa
Heirs Technologies is set to play a pivotal role in shaping Africa’s digital future. The launch signifies a crucial moment in the continent’s technological advancement.
Burkina Faso’s richest man launches online car reservation platform in Togo
The newly introduced car reservation platform, operating under the subsidiary Bonkoungou Distribution (BKG), strengthens Bonkoungou’s presence in Togo.
Nigerian-born British boxer Anthony Joshua secures $50 million in recent Riyadh bout
Beyond the financial rewards of his $50 million purse, Joshua’s victory represents a significant personal and professional triumph.
Tony Elumelu’s Heirs Energies expands gas supply operations to boost power generation in Nigeria
The recent success of Heirs Energies is linked to strategic acquisitions.
Nigerian billionaire Femi Otedola’s energy firm targets $23.9-million revenue in Q2 2024
According to the latest earnings forecast, the power-generating giant is optimistic about achieving a gross profit of N20.79 billion ($13.04 million) in the second quarter of 2024.
Elon Musk’s Starlink raises hardware prices by 112 percent in Nigeria
While Starlink has not officially addressed the reasons behind the price increment, the timing of the move coincides with Nigeria’s recent currency devaluation.
Tony Elumelu advocates privatization of Nigeria’s electricity transmission lines
Elumelu urged the government to facilitate the transfer of idle gas assets or fields to capable Nigerian investors, fostering gas-related investments and efficient electricity production.
Nigerian entrepreneur Oluwasoga Oni leads startup to secure $3 million from investors
The pre-Series-A funding round brings MDaaS Global’s total funding since its inception to $6.8 million.
South African billionaire Michiel Le Roux makes $42 million from stake in Capitec Bank
This surge solidifies his standing as one of South Africa’s leading businessmen and investors.
Burkinabe tycoon Idrissa Nassa’s Coris Bank secures $5-million facility from IFC
Under the leadership of Nassa, Coris Bank International expanded its footprint by launching Coris Bank International Guinea in 2021.
Nigerian serial entrepreneur Akintoye Akindele arraigned on $5.6-million fraud charges
Akindele, known for his roles as an entrepreneur, and venture capitalist pleaded not guilty to the charges during the arraignment.
Nigerian billionaire Femi Otedola set to build staff housing at Lagos Law School
This move follows Otedola’s recent philanthropic initiatives aimed at supporting education and enhancing national security.
Aliko Dangote explores independent oil trading venture for $20-billion refinery
This strategic maneuver by Dangote is expected to bring about a significant transformation in power and profit dynamics within the petroleum industry,