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.
West & Central Africa
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.
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.
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