Billionaire Benedict Peters secures stake in Mozambique’s largest onshore gas block
Aiteo, Africa’s leading oil independent, which is owned by Peters, is now operator of the prolific Mazenga gas block in Mozambique.
West & Central Africa
Court dismisses Nigerian energy magnate ABC Orjiako’s $101-million bankruptcy claims
The adjournment to Jan. 22, 2024, sets the stage for further legal developments in this high-profile case.
Congolese businessman Paul Obambi to invest $74 million in Douala Port project
Obambi’s Sapro Group operates across 11 countries on three continents in multiple sectors.
Scottish-born Nigerian exec John Agwunobi earns $8.2-million salary from Herbalife
Agwunobi’s 2022 compensation package reflects a significant 16.89-percent jump from the previous year’s $6.9-million total.
Nigerian billionaire Arthur Eze receives two-year oil exploration license extension in Uganda
Prince Arthur Eze founded oil exploration and production company, Atlas Oranto, in 1991, and built it into one of Africa’s largest independents.
Nigeria’s richest woman Folorunso Alakija secures six oil blocks in Sierra Leone
Sierra Leonean President Julius Maada Bio disclosed that the move is pivotal to stimulating the country’s economy.
Greek businessman John Coumantaros gains $8.5 million from Flour Mills stake
Flour Mills of Nigeria Chairman John Coumantaros holds a 63.34-percent stake in the company.
Nigerian billionaire Abdul Samad Rabiu’s BUA Group expands energy portfolio with LNG project
With Rabiu at the helm, BUA Group has emerged as a major player in Africa’s foods, mining, manufacturing, and industrial sectors.
Nigerian businessman Dozy Mmobuosi charged by SEC in alleged massive fraud
The SEC accused him of inflating figures and and engaging in billions of dollars’ of fictitious transactions.
Nigerian tycoon Tony Elumelu’s UBA secures $175-million facility from AfDB
The facility will enhance UBA’s capacity to finance crucial projects in Nigeria, with a focus on infrastructure, agriculture, and related value chains.
Nigerian billionaire’s cement firm commences operations at multimillion-dollar plant line
BUA Cement has solidified its position as Nigeria’s second-largest cement producer.
Burkinabe tycoon Idrissa Nassa’s Coris Bank to acquire Standard Chartered’s Cote d’Ivoire unit
Coris Bank International as established itself as a pivotal player in the West African financial services sector.
Nigerian banker Herbert Wigwe-led Access Bank ventures into Hong Kong market
Wigwe highlighted the significance of Access Holdings’ presence in the Hong Kong market, emphasizing its potential to boost cross-continental trade.
Nigerian billionaire Aliko Dangote sees wealth surge by $400 million, cements status as Africa’s richest
Dangote’s net worth has risen from $15.8 billion on Dec. 1 to $16.2 billion — the recent uptick has narrowed his year-to-date wealth losses to $2.49 billion.
Indian billionaire Sunil Mittal’s firm spends $115 million to increase interest in Airtel Africa
Mittal, the chairman of Bharti Airtel, has cemented his position as one of the world’s wealthiest individuals, with a net worth of $15.4 billion.
U.S.-Nigerian mogul Sam Darwish’s IHS proposes new terms to keep MTN Towers
Founded in 2001 by Darwish, IHS has solidified its position as the largest telecom infrastructure group in Africa, Europe, Latin America, and the Middle East.