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.
West & Central Africa
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.
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.
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.