Home » 7 companies owned by Nigerian magnate Kola Karim

7 companies owned by Nigerian magnate Kola Karim

by Yusuf Abdulfatai
Kola Karim

Kola Karim, a distinguished Nigerian tycoon, exerts an influential presence within the corporate realm as the Chairman of Shoreline Natural Resources Limited (SNRL). He also helms Shoreline Group, SNRL’s parent company, an industrial powerhouse driving Infrastructure, Energy, and related ventures across Sub-Saharan Africa.

Under his leadership, Shoreline has emerged as a dominant force in Africa’s collaborative business landscape. It has solidified its standing as the preferred partner for enterprises in its focus sectors, including Mota Nigeria Limited, a prominent construction firm; DBN Energies, an expert EPC contractor in the oil and gas sphere; and Shoreline Power Company, a significant player in power generation.

Beyond borders, Karim’s influence extends to global platforms. He contributes to the Africa Advisory Board of the London Stock Exchange, underscoring his international stature. In 2008, he received the Young Global Leader Award and was a pivotal member of the Global Agenda Council on Emerging Multinationals of the World Economic Forum.

Karim’s philanthropic spirit shines through his generous contribution of $65,000 (£50,000) to the Conservative Party this year. This reflects his unwavering commitment to driving impactful initiatives.

His multifaceted roles and contributions highlight his profound influence in business and society, exemplifying visionary leadership that transcends boundaries and fosters positive transformation.

Billionaires.Africa has cataloged companies owned by and linked to Karim.

Here are seven companies under his direct or indirect ownership:

  1. Shoreline Group

A leading Nigerian conglomerate with a global footprint, Shoreline Group was founded by the visionary 55-year-old businessman Kola Karim. Anchored in oil production, power generation, and construction, the group has established itself as a major force. Notably, Shoreline Group forged a strategic partnership with Portuguese contractor Mota-Engil, giving birth to Mota Engil Nigeria in 2018. 

  1. Shoreline Natural Resources

Emerging as one of Nigeria’s foremost indigenous oil producers, Shoreline Natural Resources commands a daily production output of approximately 40,000 barrels. In 2013, the company embarked on a transformative journey, joining forces with UK-based Heritage Oil under Karim’s leadership. This merger formed a potent entity: Shoreline owns 55 percent, and Heritage Oil holds 45 percent.

  1. Shoreline Power Company Ltd

Established in 2004 and headquartered in the bustling city of Lagos, Shoreline Power Company Limited is a dynamic player in the energy sector. Under the visionary leadership of Kola Karim, this subsidiary of Shoreline Energy International engages in indigenous power solutions, encompassing power generation and power equipment manufacturing. The company operates across Nigeria and Sub-Saharan Africa and has a proven track record of delivering essential energy solutions.

  1. Heritage Oil Ltd

Since its inception in 1992, Heritage Oil Ltd. has distinguished itself as a privately held international enterprise with diversified assets. Managing a varied portfolio, the company boasts a producing asset in Nigeria and exploration endeavors in Ghana and Papua New Guinea. Managed by a seasoned team with expertise spanning technical, commercial, and financial domains, Heritage holds significant interests in offshore ventures, including the ultra-deepwater East Keta Block and the Offshore South West Tano Block.

  1. African Eagle Resources

With a rich history spanning over three decades, African Eagle Resources has evolved from overseeing ten mines to managing a staggering portfolio of more than 4,000 mines globally. Karim’s leadership as non-executive chairman has propelled the company’s success. Quoted on both the AIM Market of the London Stock Exchange (AFE) and Johannesburg AltX (AEA) Stock Exchange, African Eagle Resources has proven its mettle as a resource producer of unparalleled repute.

  1. Mota Engil Nigeria

A significant milestone in the Nigerian business landscape was marked in 2018 when Shoreline Group, spearheaded by Karim, partnered with renowned Portuguese construction titan Mota-Engil. This strategic alliance resulted in the establishment of Mota Engil Nigeria, showcasing the prowess of both entities in delivering cutting-edge construction solutions.

  1. Shoreline Infrastructure and Engineering

Fueling growth through a blend of organic expansion, strategic partnerships, and acquisitions, Shoreline Infrastructure and Engineering aims to establish an integrated platform for infrastructure and energy project delivery. With a track record in installing and maintaining mechanical and electrical services across diverse projects, the company is actively shaping the landscape of integrated solutions.

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