Africa’s richest man Aliko Dangote’s net worth skyrockets, exceeding $17 billion
In just 17 days of 2024, he has already regained over $2 billion.
West & Central Africa
Consortium including Nigerian tycoon Abdulrazaq Isa’s group to acquire Shell assets for $1.3 billion
Notably, Waltersmith Group, led by Nigerian businessman Abdulrazaq Isa, brings extensive experience in oil exploration and production.
Tony Elumelu becomes third Nigerian businessman to hold stakes in two trillion-naira companies
This achievement, following in the footsteps of Femi Otedola and Abdul Samad Rabiu, highlights the growing influence of Nigerian business leaders.
Nigerian banker Herbert Wigwe-led group acquires new insurance brokerage firm
The move aligns with the group’s vision of building a globally connected community of ecosystems inspired by Africa for the world.
Adenuga’s firm, six others get approval to distribute fuel from Aliko Dangote’s refinery
The marketers have registered for the lifting and distribution of refined petroleum products.
Nigerian insurance tycoon Wole Oshin gains nearly $2 million from Custodian stake
Oshin wields significant influence with a 26.81-percent stake, equating to 1,576,662,503 ordinary shares.
Kenyan tycoon Kiprop ‘Buzeki’ Bundotich forced to lay off 300 staff amid soaring fuel prices
Buzeki cited the adverse effects of high fuel prices, exacerbated by the government’s decision to eliminate fuel subsidies during Kenyan President William Ruto’s administration.
Nigerian businessman Tony Elumelu gains $14 million from UBA stake
Tony Elumelu, with his 7.39-percent stake in UBA, equivalent to 2,527,372,285 shares, stands out as one of the Nigerian Exchange’s most affluent investors
Nigerian banker Adebayo Ogunlesi emerges as Africa’s newest billionaire
With a calculated 17.5-percent stake in GIP, Ogunlesi now stands as one of Africa’s top 20 billionaires.
Greek tycoon John Coumantaros gains $13.4 million from Flour Mills stake
Coumantaros, the chairman of Flour Mills also ranked as one of the richest investors on the Nigerian Exchange, holds a substantial 63.34-percent stake in Flour Mills.
World’s richest Black billionaire’s refinery begins diesel and aviation fuel production
The Dangote Petrochemical Complex aims to meet 100 percent of Nigeria’s demand for refined petroleum products, including petrol, diesel, kerosene, and jet fuel.
5 companies linked to Nigerian lawyer and business executive Ifeoma Esiri
With more than 25 years of expertise and a pivotal role in Stanbic IBTC Holdings, she advocates for ethical governance while reshaping the nation’s financial landscape.
Blackrock acquires Nigerian billionaire Adebayo Ogunlesi’s GIP for $12.5 billion
Under the leadership of Ogunlesi, GIP has flourished into the world’s largest independent infrastructure manager.
U.S.-Nigerian mogul Sam Darwish suffers $6-million loss from IHS stake
Despite this decline, Darwish remains a prominent figure in the telecom industry.
Dangote back as Africa’s richest man as Forbes adds billion-dollar fertilizer plant to fortune
The Dangote Fertilizer Plant, launched in March 2022, was conceived as part of an ambitious initiative to meet Nigeria’s 1.5 million-tonne annual fertilizer demand.
Nigerian billionaire Femi Otedola reclaims spot on Forbes rich list with $1.2-billion fortune
This is the third time in the last 15 years that Otedola is being listed as one of the world’s richest people.