Nigeria’s second-richest man Abdul Samad Rabiu rejoins world’s 500 richest billionaires
This surge in wealth has firmly positioned Rabiu as the 500th richest individual globally, just behind the 499th-ranked Charles Dolan.
West & Central Africa
Burna Boy to earn up to $1 million as headliner for Uganda’s new stadium opening
Burna Boy, known for his electrifying performances, has become a sought-after international act, commanding fees ranging from $700,000 to $1 million.
Nigerian billionaire Abdul Samad Rabiu plans to crash cement prices
Rabiu said that his company, BUA Cement, is building two new plants that will increase output capacity to 17 million metric tonnes.
Nigerian business mogul Ernest Azudialu-Obiejesi orders $76-million luxury jet
Azudialu-Obiejesi’s decision to procure the G-700 aircraft underscores his commitment to building a world-class energy conglomerate.
Nigerian businessman Tony Elumelu to pocket $1.6-million dividend from UBA
The interim dividend payout will be deposited into Elumelu’s bank account on Fri., Oct. 6.
U.S.-Nigerian telecom tycoon Sam Darwish loses $32 million in 3 weeks
Despite the sustained decline in the market value of his stake, Darwish remains one of the top players in the global telecom industry.
Hotel building owned by Nigerian oil magnate Gabriel Ogbechie collapses
The hotel, valued at several millions of dollars, is located directly across from Delta Mall Asaba.
Nigeria’s richest banker Jim Ovia to pocket $3.2 million Zenith Bank dividend
Ovia is recognized as Nigeria’s richest banker and a top figure in Africa’s financial services industry.
Nigerian billionaire Olugbenga Agboola’s Flutterwave to invest $50-million in Kenya
Flutterwave CEO and Co-Founder, Olugbenga Agboola disclosed this strategic move in a recent media interview held in Nairobi.
Africa’s richest man Aliko Dangote’s refinery misses production deadline
The delay in the Dangote Oil Refinery’s production start has left stakeholders in Nigeria’s oil industry eagerly awaiting updates
Cameroon’s richest woman Kate Fotso suffers decline in cocoa business
Fotso is the current CEO of Telcar Cocoa, Cameroon’s largest cocoa export company.
Bank led by Nigerian tycoon Tony Elumelu, posts $512-million half-year profit
UBA, under the astute guidance of Elumelu, recorded a 437.8-percent surge in its profits in the first half of 2023.
Femi Otedola commends Tinubu for resolving UAE visa ban on Nigerians and restoring air travel
Otedola vowed to increase his investments in Nigeria, citing Tinubu’s leadership as a force behind his confidence in Nigeria’s economic management.
7 institutions founded by Africa’s doyen of accounting, Akintola Williams
The late Akintola Williams, Nigeria’s first chartered accountant and founder of Africa’s first indigenous accounting firm, Akintola Williams & Co.
Nigerian businessman Tony Elumelu loses $3.2 million in 11 days from UBA stake
Despite this substantial loss, Elumelu retains his status as one of the wealthiest investors in the local bourse.
15 inspirational quotes from Nigerian billionaire Femi Otedola
Otedola is not just one of Africa’s wealthiest individuals; he is a symbol of hope and inspiration.