Nigerian tycoon Taiwo Afolabi’s group halts port operations in wake of terminal fire
The incident occurred on Saturday, February 24, impacting the facilities of Port and Cargo Handling Services Limited, a key subsidiary of the conglomerate.
West & Central Africa
Nigerian president appoints billionaire business leaders to Economic Advisory Committee
In the face of economic challenges, Nigerian billionaire Aliko Dangote emphasizes the need for swift and decisive action from both the public and private sectors.
Nigerian tycoon Tayo Amusan’s consortium unveils $100-million arena in Lagos
Amusan’s consortium aims to create Africa’s first live entertainment hub, The Arena.
Preliminary reports confirm helicopter carrying Nigerian banker was on fire before crash
Eyewitnesses reported adverse weather conditions, including rain and a mix of snow, during the helicopter’s journey.
Uber in talks to back British-Nigerian entrepreneur Ladi Delano’s startup, Moove
Sources familiar with the negotiations have disclosed that the investment could potentially reach $100 million, marking a substantial milestone for both companies.
Nigerian entrepreneur Emmanuel Okeleji’s SeamlessHR processes $311-million payroll across Africa in 2023
Under the leadership of Okeleji, CEO and co-founder, SeamlessHR remained the go-to partner for businesses across various sectors.
Financial loss forces delisting of Arbico, owned by Nigerian gambling magnate Kessington Adebutu
The company has engaged with regulatory authorities and stakeholders in the decision-making process and has initiated necessary procedures to ensure a smooth transition from NGX.
Africa’s largest salt mine owner advocates for secure global pharmaceutical salt supply
Daniel McKorley’s key recommendation was the establishment of a global consortium to ensure a steady pharmaceutical salt supply.
Nigerian tycoon Michael Nzewi’s firm sells stake in i-Fitness for $12 million
The transaction, valued at $18.5 million, marks a significant achievement for Cardinal Stone, which realized $12 million from the sale of its 65-percent stake in i-Fitness.
Nigerian tycoon Wale Tinubu promotes resilient oil and gas value chain at Guyana Energy Conference
At the Guyana Energy Conference, Tinubu emphasized the imperative of fostering conducive environments for the oil and gas industry’s growth.
Nigerian tycoon Tony Elumelu urges private sector approach to unlock national asset value
Elumelu’s influence extends beyond his roles at UBA, where he serves as chairman, and other entities like Transnational Corporation of Nigeria Plc and Heirs Holdings.
Africa’s richest man Aliko Dangote faces $1.4-billion net worth plunge in 24 hours
The major driver behind this sudden fall is the recent decline in the market value of his substantial holdings in Dangote Cement Plc.
Meet Olajumoke Adenowo: Her latest project is an $880-million complex in South Africa
The complex is more than a construction project; it’s a blueprint for the future.
Companies owned by U.S.-Barbadian musician and cosmetics billionaire, Rihanna
Billionaires.Africa sheds light on Rihanna’s expansive portfolio, unveiling a glimpse into the various companies and holdings she commands.
Davido donates $200,000 to orphanages throughout Africa’s largest economy
This builds upon previous philanthropic endeavors, including a N250 million ($166 million) donation to 292 orphanages in November 2021 to commemorate his 29th birthday.
U.S.-Nigerian telecom tycoon Sam Darwish gains $7.5 million in 14 days
Darwish, the chairman and CEO of IHS, stands among the prominent figures in the African telecom sector, boasting a 4.17-percent stake in IHS Holding.