Nigerian tycoon Tony Elumelu to reinvest $4-million dividend in UBA rights issue
“I’m advising shareholders, as you get your dividends, reinvest a significant part of it,” Tony Elumelu said.
West & Central Africa
Senegalese superstar Sadio Mane rakes in $52 million in past year
This hefty sum comes after his move to Saudi Pro League club Al Nassr, joining Cristiano Ronaldo in the lucrative league.
Nigerian businessman Tony Elumelu’s UBA distributes $53.4-million dividend to shareholders
During the AGM, the board presented UBA Group’s outstanding financial performance for 2023, which saw the bank become Nigeria’s second-largest lender by assets.
Nigerian energy tycoon Austin Avuru’s Seplat extends $1.28-billion ExxonMobil acquisition deal
Investor confidence remains shaky due to ongoing legal and regulatory issues.
Nigerian gambling magnate Kessington Adebutu loses $2.8 million on Wema Bank shares
This comes after a surge in the market value of his stake in Wema Bank between May 1 and 7, when it increased by N6.01 billion ($4.35 million)
Bank led by Nigerian billionaire Femi Otedola declares $9.9-million dividend for shareholders
One of Nigeria’s most valuable banking groups, FBN Holdings has solidified its position in the financial services industry.
Nigerian-born British boxer Anthony Joshua rakes in $83 million over past year
This has propelled him into the ranks of the world’s highest-paid athletes, according to the 2024 Forbes list.
Africa’s richest man Aliko Dangote’s sugar firm to raise $69.56 million via commercial paper
With banks offering limited options, companies like Dangote Sugar are turning to the fixed-income market for alternative financing.
Cameroonian banker Alain Nkontchou-led Ecobank reports $496 million in revenue in Q1 2024
Under Alain Nkontchou’s leadership, total comprehensive income surged significantly, rising from N7.06 billion ($15.54 million) to N448.72 billion ($123.76 million).
Meet Bella Disu: Nigerian business executive leading one of Africa’s largest telecom companies
Under Bella Disu’s leadership, Globacom has positioned itself as Nigeria’s largest provider of digital services.
Nigerian tycoon Temitope Lawani-linked Vivo Energy completes acquisition of Engen from Petrona
The merger of Vivo Energy and Engen marks a significant development in the African energy sector.
Flutterwave hits $3.2 billion valuation under Nigerian tech entrepreneur Olugbenga Agboola
Under the leadership of Agboola, Flutterwave continues its mission to connect Africa to the world and vice versa by simplifying payments.
Nigeria to end petrol imports by June, says Africa’s richest man Aliko Dangote
Dangote said Nigeria could halt premium motor spirit (PMS), or petrol, imports by next month thanks to the Dangote Oil Refinery.
Greek multimillionaire businessman makes $13.3 million from Nigerian food group
The rise in the market value of Coumantaros’ stake in Flour Mills cements his position as a top investor on the Nigerian Exchange.
Africa’s richest man Aliko Dangote’s refinery prepares for exports, targets Brazil and other African countries
Speaking at the Africa CEO Forum in Kigali, Rwanda, Dangote detailed the refinery’s ability to produce a wide range of refined products, including gasoline, diesel, and aviation fuel.
Nigeria’s richest banker loses $5.7 million from Zenith Bank in just four days
Ovia maintains his position as Nigeria’s richest banker, highlighting his lasting success as a prominent business leader in the country.