Mike Adenuga becomes Nigeria’s second-richest man as Forbes revalues Globacom
His net worth now stands at $7.4 billion — solidifying his position as a top figure in Africa’s business landscape.
West & Central Africa
Led by pan-African billionaire Benedict Peters, Aiteo unveils plans for new oil pipeline
This revelation follows the recent collaboration between Nigeria’s state-owned Nigerian National Petroleum Corporation (NNPC) and Aiteo Eastern E&P Company.
Late Senegalese tycoon Pathe Dione’s legacy thrives as Sunu Group expands with stake in Africa Golden Bank
Under Dione’s leadership, Sunu Group expanded its operations to 17 African countries, boasting a workforce of over 4,100 employees.
Cameroon’s richest man ventures into maritime transport with new company
Baba Ahmadou Danpullo’s foray into maritime transport is expected to shape the industry landscape.
Nigerian billionaire Femi Otedola donates $1.1 million to boost Lagos State security
The significant contribution follows a series of philanthropic endeavors and is earmarked to bolster security initiatives within the state.
San Francisco-based Nigerian entrepreneur leads startup to successful $1.5-million round
Cleva specializes in assisting African individuals and businesses in receiving international payments by facilitating the opening of USD accounts.
Nigerian banker Herbert Wigwe gains $15 million, Access Bank tops $1-billion market cap
As the group managing director and CEO of Access Holdings, Wigwe holds a substantial 9.09-percent stake in the lender, or 3,230,789,014 ordinary shares.
Refinery owned by Africa’s richest man prepares for test runs as sixth batch of crude arrives
The latest delivery, consisting of one million Agbami barrels of crude, marks the completion of the 6-million-barrel consignment to be utilized in the start-up phase.
Nigeria’s richest banker Jim Ovia’s Zenith Bank shares surge by $25 million 8 days
This surge firmly cements Ovia’s status as Nigeria’s wealthiest banker.
Nigerian billionaire Mike Adenuga’s Glo faces service disruption over unpaid interconnect charges
According to the notice, the NCC has granted partial approval for the disconnection of Glo from MTN Nigeria.
Nigerian gambling magnate Kessington Adebutu gains $7.2 million in first week of 2024
In the first week of 2024, Wema Bank shares on the NGX rose by 33 percent from N5.55 ($0.006) to N7.38 ($0.008).
Burkina Faso’s richest man opens high-tech medical center in Ouagadougou
The facility aims to address the shortage of medical-technical facilities within Burkina Faso, evident during the challenges posed by the COVID-19 pandemic.
Nigerian billionaire Aliko Dangote gains over $100 million in first week of 2024
The surge is credited to the robust performance of his diversified investment portfolio on the Nigerian Exchange (NGX).
Nigerian businessman Dozy Mmobuosi faces 45-year sentence in US
If convicted on all charges, Mmobuosi risks serving a maximum sentence of 45 years.
Idrissa Nassa’s bank partners with Canadian firm in $100-million facility to back gold project
Nassa commended the collaborative efforts of the teams from West African Resources, Sprott, and Coris Bank.
Mega-refinery of world’s richest Black billionaire welcomes fourth crude shipment
This delivery follows three previous shipments in December 2023.