Elon Musk’s Starlink raises hardware prices by 112 percent in Nigeria
While Starlink has not officially addressed the reasons behind the price increment, the timing of the move coincides with Nigeria’s recent currency devaluation.
West & Central Africa
Tony Elumelu advocates privatization of Nigeria’s electricity transmission lines
Elumelu urged the government to facilitate the transfer of idle gas assets or fields to capable Nigerian investors, fostering gas-related investments and efficient electricity production.
Nigerian entrepreneur Oluwasoga Oni leads startup to secure $3 million from investors
The pre-Series-A funding round brings MDaaS Global’s total funding since its inception to $6.8 million.
South African billionaire Michiel Le Roux makes $42 million from stake in Capitec Bank
This surge solidifies his standing as one of South Africa’s leading businessmen and investors.
Burkinabe tycoon Idrissa Nassa’s Coris Bank secures $5-million facility from IFC
Under the leadership of Nassa, Coris Bank International expanded its footprint by launching Coris Bank International Guinea in 2021.
Nigerian serial entrepreneur Akintoye Akindele arraigned on $5.6-million fraud charges
Akindele, known for his roles as an entrepreneur, and venture capitalist pleaded not guilty to the charges during the arraignment.
Nigerian billionaire Femi Otedola set to build staff housing at Lagos Law School
This move follows Otedola’s recent philanthropic initiatives aimed at supporting education and enhancing national security.
Aliko Dangote explores independent oil trading venture for $20-billion refinery
This strategic maneuver by Dangote is expected to bring about a significant transformation in power and profit dynamics within the petroleum industry,
Africa’s richest man dedicates refinery road to late Nigerian banker Herbert Wigwe
The announcement was made during a special event titled, Celebrating Herbert Wigwe – A Professional Legacy’ at Eko Hotel, Lagos.
Nigerian gas tycoon Julius Rone advocates for foreign investment to drive African energy
A central figure in Nigeria’s energy sector, Rone outlined his vision for leveraging international partnerships to tap into the vast untapped natural gas reserves across the continent.
Africa’s richest man Aliko Dangote set to earn $284.5 million from Dangote Cement
The dividend, which will be paid electronically into his bank account by Mon., April 29, 2024, is a testament to Dangote Cement’s impressive fiscal results.
Ghanaian tycoon Joseph Siaw Agyepong’s group to employ Nigerians for Lagos waste facility management
“We’re committed to having 95 percent of the facility’s staff as Nigerians; no external hires,” said Peter Dagadu, managing director of Waste Landfills, a Jospong Group subsidiary.
Indian billionaire Sunil Bharti Mittal’s Airtel Africa unveils $100-million share buyback program
According to a recent statement by Airtel Africa, the share buyback program will commence immediately, spanning a duration of up to 12 months.
Nigerian energy tycoon ABC Orjiako’s Seplat Energy surpasses $1-billion revenue mark
In light of its impressive financial performance, Seplat Energy’s board of directors has proposed a final dividend of $0.03 per share, along with a special dividend at a rate of $0.03 per share.
South African billionaire Christo Wiese positive on Nigeria, predicts investors’ return
Wiese emphasized that the current withdrawal of foreign investors, including those from South Africa, is a temporary phenomenon.
Nigerian tycoon Tony Elumelu to list Transcorp’s Power assets on NGX, targets $1.1 billion market cap
The listing, scheduled for Mar. 4, aims to generate value for investors and signifies a pivotal move in the conglomerate’s commitment to creating value from its business units.