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.
West & Central Africa
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.
Ghanaian tycoon Daniel McKorley’s salt company to hire 2,500 workers in 2024
Presently producing 650,000 metric tonnes of salt, Electrochem Ghana is poised to increase its production to one million metric tonnes in 2024 and aims for two million by 2025.
Nigeria’s second-richest man Abdul Samad Rabiu lost $1.8 billion in 2023
Starting 2023 with a net worth of $7.5 billion, Rabiu faced a $1.8-billion wealth decline due to the Central Bank’s implementation of a free float policy.
Africa’s richest man Aliko Dangote faces $3.6-billion loss amid naira devaluation
This is attributed to the Central Bank of Nigeria’s decision to unify the country’s multiple exchange rates, introducing the FX-managed float system for rate unification.
Nigerian tycoon Emeka Onwuka pockets $1.5-million salary from Seplat in 2022
Onwuka, the CFO of Seplat Energy, experienced a substantial 7.78-percent increase in his 2022 compensation, reaching $1.55 million.
Malian executive Chirfi Guindo earns $13.7-million salary from Merck & Co. in 2022
Uncover the breakdown of his compensation, including a $0.35-million base salary, a $0.53-million short-term incentive, and a substantial $12.39-million long-term incentive.