5 Nigerian billionaires hold a quarter of Aradel Holdings, worth $1.1 billion
Samuel Dossou-Aworet, Fola Adeola and Ladi Jadesimi hold Aradel stakes worth $556 million, $250 million and $239 million between them.
West & Central Africa
The oil tycoon who bought Equinor's Nigerian business is in prison over a $1.5 million dispute
The family of Chappal Energies CEO Ufoma Immanuel has petitioned President Tinubu, alleging he was handcuffed to a hospital bed in detention.
Aliko Dangote and investment banks sign Africa's biggest IPO, minimum subscription set at $3.97
Aliko Dangote signed IPO documents in Lagos on Monday. The offer runs Sept. 14 to Oct. 13, selling 4.1 billion shares at N525 each.
FirstHoldCo and Dangote Cement, controlled by Forbes-ranked billionaires, join the FTSE Frontier 50
FirstHoldCo and Dangote Cement join the FTSE Frontier 50, a far more selective index than the broader series 10 Nigerian firms entered.
Aliko Dangote's refinery is exporting less ship fuel as marine prices jump 76%
Marine fuel has risen 76% since the Iran war began. Aliko Dangote's refinery is exporting less of it and more diesel, petrol and jet fuel, which pay better. Africa imports most of what it consumes by sea.
Aliko Dangote's oil company hires three rigs to unlock 1.6 billion barrels
West African Exploration and Production, 85% owned by Dangote, has contracted three jack-up rigs to begin drilling OML 71 and 72 in December.
Ghanaian tycoon Joseph Siaw Agyepong's $132 million Kenyan waste deal is challenged in court
Zoomlion holds waste contracts in Nairobi and Mombasa worth billions of shillings, and both are facing legal and procurement challenges.
Benin-born oil veteran Samuel Dossou-Aworet holds $1.4 billion of Nigerian oil shares
Samuel Dossou-Aworet's stakes in Seplat and Aradel are worth $1.43 billion, built by a Benin-born engineer who once ran Gabon's oil sector.
Nigerian gaming mogul Mr Eazi bought 17.31% of a Ghanaian drug maker after his mother died
Music mogul Mr Eazi bought 17.31% of Intravenous Infusions Plc after watching patients go without basic drugs while his mother was dying.
Nigerian oil tycoon Austin Avuru co-founded Seplat and now grows tomatoes in Ogun State
Austin Avuru co-founded Seplat and retired as CEO in 2020. His family holding company now runs greenhouse farms in Ogun State growing tomatoes.
Gambian telecoms tycoon Muhammed Jah is the subject of a new children's book
Fye Network and Q Group will publish a children's book about Muhammed Jah, who began with $16,000 and built The Gambia's largest conglomerate.
Idrissa Nassa's Coris Bank posts $74 million H1 profit as bad loan charges jumped 48%
Coris Bank International Burkina Faso lifted half-year net income 23.5% to $74 million while its cost of risk rose 48% to a seven-year high.
Nigerian-born billionaire Bassim Haidar has given Farage's Reform UK another £192,000
Bassim Haidar, born in Nigeria to Lebanese parents, gave Reform UK £192,000 between April and June, taking his disclosed total past £547,000.
Dangote refinery IPO priced at N525 a share, valuing it at $47 billion
Nigeria's SEC approved the Dangote refinery IPO at 525 naira a share. The 4.1 billion share offer opens Sept. 14 and could raise $1.55 billion.
6 Nigerian billionaires have companies joining the FTSE frontier index this month
Ten Nigerian stocks join FTSE Russell's frontier index on Sept. 21, including companies part-owned by Aliko Dangote, Femi Otedola and Victor Odili.
Billionaire Idrissa Nassa's Coris Bank in Burkina Faso hits $1.85 billion market value
Coris Bank International Burkina Faso reached 1,040 billion CFA francs on Sept. 2, up 201% this year, after first-half profit rose 24%.