Ghanaian tycoon Paa Kwesi Nduom to challenge GN Bank’s license revocation in High Court
Nduom is the founder of Groupe Ndoum, a multinational family holding business comprising more than 60 independent companies.
West & Central Africa
Segun Agabaje-led GTCO becomes Nigeria’s most valuable lender, outshining Jim Ovia’s Zenith Bank
The upward trend in the lenders’ shares and market capitalization can be attributed to investors’ optimism about a potential increase in earnings and assets.
Nigerian businessman Tony Elumelu gains nearly $4.3 million in single day from UBA stake
Elumelu holds a substantial 7.17-percent stake in UBA, equivalent to 2,450,603,739 ordinary shares with a market value of $47 million.
Startup led by Nigerian entrepreneur Adebowale Banjo raises $1.25 million in pre-seed funding
Since its inception, MyCover.ai, under Banjo’s leadership, has established itself as a trailblazer in innovative insurance solutions.
U.S.-Nigerian telecom tycoon Sam Darwish nets $40 million from IHS Holdings stake
Darwish holds a substantial 4.17 percent stake in IHS Holdings, amounting to 13,905,235 shares.
Bank linked to Nigerian billionaire Femi Otedola rakes in $240 million in profit in six months
Otedola holds the largest stake in the Lagos-based financial services holding group, with a 5.57-percent stake as of June 30, 2023.
5 companies owned by Africa’s fifth-richest billionaire Abdul Samad Rabiu
Boasting a net worth of $5.6 billion, Rabiu now ranks as the fifth-richest man in Africa.
Nigerian multi-award-winning artist Davido donates more than $300,000 to orphanages across Nigeria
While Davido’s philanthropic efforts are commendable, his music career continues to soar to new heights.
Aliko Dangote reclaims title of richest investor on NGX, as Dangote Cement stake skyrockets to $6.6 billion
The surge in the shares of Dangote Cement, Africa’s largest cement company, was the driving force behind Dangote’s resurgence.
Nigerian tycoon Wole Oshin loses $1.2 million in one week from stake in Custodian Investment
As the company’s largest shareholder, Oshin holds a 26.81-percent stake in Custodian Investment.
GIPLC disburses funds raised at Igho Sanomi charity event for sick children
Sanomi, a prominent Nigerian business leader, is recognized not only for his success but also for his philanthropy.
Tony Elumelu’s wife, Awele, loses $2.6 million in six days as Transcorp shares slump
With the acquisition of an additional 7.3 million shares in Transcorp in June, Awele Elumelu’s total holdings in the company now stand at an impressive 2,070,794,804 shares.
Geregu surpasses $1 billion market cap as Otedola partners AFDB to build Nigeria’s first-ever PPP power transmission project
This recent boost follows reports that Otedola is partnering with the Lagos State government to develop a power transmission project.
5 companies owned by Nigerian billionaire Femi Otedola
As one of Africa’s richest individuals, Otedola continues to wield significant influence in Nigeria’s economic landscape.
Nigerian energy tycoon Tope Shonubi invests $142 million in two LPG vessels
Shonubi is a co-founder and CEO of Sahara Group, a conglomerate with oil production, electricity generation, and oil trading operations.
Nigerian billionaire Aliko Dangote plans new cement plants for expansion
Dangote is set to expand the production capacity of Dangote Cement by constructing a new integrated cement plant in Itori, Ogun State.