Nigerian banker Herbert Wigwe gains $12 million from Access Bank shares
Wigwe, who serves as the group managing director and CEO of Access Holdings, holds a substantial 9.09-percent stake in the leading financial services provider.
West & Central Africa
Tony Elumelu rakes in $14 million as UBA becomes a billion-dollar bank
The recent 23.73-percent surge in UBA’s shares over the past 48 days has strengthened its position as one of the most valuable companies on the Nigerian Exchange.
Femi Otedola’s power company aims for $39.56 million in revenue in Q1 2024
Geregu Power aims to double revenue in the first quarter of 2024 despite operating challenges.
Refinery owned by Africa’s richest man to generate $27-billion annual revenue
The complex will initially focus on producing diesel, aviation fuel, and gas, with petrol production planned for a later stage.
Nigerian billionaire Femi Otedola congratulates Africa’s richest man Aliko Dangote on refinery launch
Otedola congratulated Dangote on the launch of the Dangote Oil Refinery, a $20-billion project.
African billionaires’ families absent from global top 25 richest families ranking
As the Al Nahyan family claims the top spot with a $305-billion fortune, the absence of African billionaire families highlights the stark disparities in wealth accumulation.
U.S.-Nigerian telecom tycoon Sam Darwish suffers $14-million loss in 23 days
This recent paper loss comes on the heels of the impressive $70-million gain he recorded between Oct. 27 and Nov. 14
5 companies linked to South African-based business executive Paul Hanratty
With a wealth of experience and strategic leadership, Hanratty has propelled Sanlam to new heights.
Aliko Dangote’s refinery set to commence operation as first crude stock arrives
This comes shortly after the mega refinery received its license to refine over 300,000 barrels of Nigerian crude daily in November.
Selorm Adadevoh becomes second Ghanaian top executive in African telecom giant, MTN Group
Effective April 1, 2024, Adadevoh will assume his new role in Johannesburg and will be responsible for leading commercial strategy and the group’s operations.
Otedola becomes second Nigerian billionaire with stakes in two companies worth over 1 trillion naira
With his strategic investments and relentless pursuit of excellence, Otedola continues to make significant contributions to the Nigerian economy and beyond.
Startup led by U.S.-based Nigerian entrepreneur to acquire Tosin Eniolorunda-backed PayDay
Bitmama, led by CEO Ruth Iselema, has reportedly extended an offer of $1 million in equity in the crypto company to Payday investors.
Nigerian energy tycoon Bryant Orjiako’s stake in Seplat surges by $30 million
Orjiako, a former director of the Lagos-based energy conglomerate, holds a 6.43-percent stake in Seplat Energy.
Richelieu Dennis: The Liberian immigrant who built a $400-million beauty empire
Dive into the captivating story of Dennis, a Liberian immigrant who overcame adversity to build a $400-million hair-care empire.
Billionaire Mike Adenuga-linked Julius Berger delivers $425-million bridge to Nigerian gov’t
Julius Berger, the renowned construction giant partly owned by Nigerian billionaire Mike Adenuga, has officially handed over the N336 billion ($425.6 million)…
Nigerian tycoon Tony Elumelu’s UBA inks $6-billion deal to boost small businesses across Africa
Babatunde Ajayi, the head of SME Banking at UBA, spoke about the initiative during the Nigerian Canadian Business Association Business 2023 Roundtable held in Lagos.