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).
West & Central Africa
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.
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.
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.