Nigerian billionaire Femi Otedola locks horns with Zenith Bank over alleged debt fraud
Otedola, who ranks among Africa’s billionaires, accuses Zenith Bank of perpetrating banking fraud.
South African billionaire Jannie Mouton sees $46.9 million loss on Capitec shares
This comes on the heels of a $94 million gain recorded between April 17 and May 4 when the market value of his stake surged from $646.08 million to $740.15 million.
Africa’s richest man Aliko Dangote’s refinery seeks dual listing in Nigeria, London
The choice to pursue a dual listing on both exchanges reflects considerations arising from the NGX’s current limitations in accommodating the scale of the refinery.
Dutch giant Heineken to pay $13.1 million to Kenyan tycoon Ngugi Kiuna’s firm
This follows the Court of Appeal’s ruling that upheld a High Court order for Heineken to compensate Maxam for the unlawful termination of their distribution contract in Kenya.
South Africa’s richest man Johann Rupert makes $900 million in just three weeks
While his commanding stake in Richemont forms the cornerstone of his wealth, Johann Rupert has diversified his investment portfolio across a spectrum of industries.
Bank led by Nigerian billionaire Femi Otedola partners with French financier on climate initiative
This collaboration aims to establish FBN Holdings as a frontrunner in African climate finance.
Bravura Sets the Record Straight: Rebuttal to Inaccurate Claims in Zimbabwean Mail
Bravura clarifies that the Kamativi Lithium Tailings Project, launched in December 2021, is progressing steadily despite encountering regulatory hurdles and global economic challenges.
Nigerian billionaire Femi Otedola’s FBN Holdings posts $149.7 million profit in Q1 2024
Femi Otedola’s leadership continues to be a driving force behind the group’s sustained growth and expansion, with high expectations for the remainder of the fiscal year.
South African real estate mogul Michael Georgiou sells $3.1 million stake in Accelerate
According to a statement released by the Accelerate Property Fund, Georgiou sold 107 million shares, which were subsequently seized by Investec.
Exclusive: Nigerian president initiates highway project by controversial billionaire tied to Sani Abacha – What you need to know!
With the construction of this highway, Nigeria is poised to unlock vast economic potential, foster unity, and build a legacy of prosperity for future generations.
Asia’s richest man Mukesh Ambani eyes African telecom market with Ghanaian 5G venture
NGIC’s approach appears to mirror the success of Mukesh Ambani’s Jio Infocomm Ltd. in India. Jio is currently India’s largest mobile operator with 470 million users
South African Ackerman family gives up control of Pick n Pay after challenging year
The Ackerman family, led by Gareth Ackerman, currently holds a combined 25.53 percent stake (124,677,238 shares).
Nigerian industrialist Samuel Adedoyin donates ICT building to Lagos State University
Explaining his motivation for the generous donation, Adedoyin expressed his desire to give back to society in gratitude for the divine blessings he has received throughout his life.
Angolan businessman Agostinho Kapaia’s group awarded $1.3 billion in contracts over 2 years
Marques, in a letter to President João Lourenço, criticized the award to the Opaia Europa and IDC consortium, both owned by Kapaia.
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.
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.