Nigerian billionaire Aliko Dangote opens Africa's biggest share sale at a $49 billion valuation
The Dangote refinery IPO opened on Sept. 14, offering 4.1 billion shares at N525 to raise $1.63 billion. Trading begins on the NGX in November.
West & Central Africa
Lebanese telecoms tycoon Ziad Dalloul's Africell gets $100 million from Washington to counter Huawei in Africa
The US Export-Import Bank will lend nearly $100 million to Africell, the only American-owned mobile operator in Africa, to buy US equipment.
Bamanga Tukur, who ran Nigeria's ports then built a shipping business, dies at 90
Bamanga Tukur ran the Nigerian Ports Authority from 1975 to 1982 and registered a shipping agency while in office. He died on Saturday at 90.
The $100 Million Investor Club on the Nigerian Exchange: All 17 Members and What They Own
Seventeen investors held Nigerian Stock Exchange shares worth at least $100 million at Friday's close. Here is every stake they own and what each is worth.
Nigerian tycoon Uche Ogah quit banking to build an empire selling petrol, noodles and tricycles
Uche Ogah registered Masters Energy while still a Zenith Bank manager. It now runs 50 filling stations, two depots and a 198-hectare estate.
Billionaire Aliko Dangote goes to China to build a shipping fleet from scratch
Dangote Group will order vessels from Chinese shipyards, with first deliveries as early as 2029, as refinery expansion drives cargo demand.
Burkinabè banker Idrissa Nassa leads a business push into Nigeria after the ECOWAS split
Larry Ellison has spent decades borrowing against Oracle shares rather than selling. He now plans to sell up to $7.5 billion of them by Oct. 24.
Aliko Dangote's sugar unit adds 67% more shares in $356 million raise
Dangote Sugar's share count has risen by two-thirds after 8.1 billion new shares from its rights issue were listed in Lagos. The N485.9 billion raised was meant to cut debt that stood at more than four times equity, but the proof will not appear until the next quarterly accounts.
Billionaire Aliko Dangote wins court order keeping Nigeria's oil regulator out of his refinery
A Lagos court has extended an order barring Nigeria's petroleum regulator from Dangote's refinery, four days before its share offer opens.
Senegalese billionaire Yerim Sow's holding company sells $118 million of Bridge Bank
Bridge Bank lists in Abidjan on Sept. 24 after Yerim Sow's holding company sold a fifth of the Ivorian lender in an oversubscribed offer.
Geneva's tax authority demands millions from Cameroonian billionaire Paul Fokam
Geneva's tax administration has opened a case against Cameroonian banker Paul Fokam over undeclared wealth during ten years living in Switzerland.
Africa's richest man Aliko Dangote is worth $54 billion after refinery filing reveals 87% stake
A new prospectus shows Aliko Dangote holds 87.27% of his oil refinery, putting the fortune of Africa's richest man at $54 billion.
Nigerian billionaire Folorunsho Alakija's FAMFA Oil faces a $6.7 million customs demand
An investigation says FAMFA Oil kept three Bombardier jets worth close to $200 million in Nigeria for over a decade on faulty import papers.
Nigerian billionaire TY Danjuma's British family office made £308,000 and shut its London hotel
TY Danjuma's British family office returned to profit with £308,000 and closed the hotel Bloomberg used to illustrate his $1.2 billion fortune.
Nigerian billionaire Femi Otedola speaks on FirstHoldCo’s inclusion in FTSE Frontier 50 Index
FirstHoldCo has joined the FTSE Frontier 50 index, with chairman Femi Otedola calling it a defining milestone for the banking group.
Aliko Dangote's refinery made $1.82 billion net profit in H1
Dangote Petroleum Refinery reported $1.82 billion of net income and $2.60 billion of EBITDA in the first half of 2026, ahead of its IPO.