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For Otedola, this is just the beginning. With the new headquarters underway, he is not just reshaping a bank—he is redefining the future of Nigeria’s financial industry.
This follows a sharp rise in the market value of his shares in Douja Promotion Groupe Addoha, marking a significant financial rebound for the seasoned investor.
Inside Africa’s richest man’s payday from his cement empire, Dangote Cement Plc.
The troubled company is pinning its hopes on the potential investor, who has reportedly offered $10 million to revive operations and settle debts owed to KCB Bank Kenya.
Revenue climbed to $730 million, while profit surged to $63 million, reflecting strong execution across key segments.
Tazi holds an 8.19 percent stake in Sothema, equivalent to 589,658 shares.
At 93, his fortune has grown by $504 million since January, pushing his net worth from $9.3 billion to $9.83 billion, according to the Bloomberg Billionaires Index.
Plans include opening a new corporate office near the French Quarter and expanding outreach in major cities.
The strong performance was driven by a sharp rise in international sales, even as global trade faced economic and geopolitical pressures.
Revenue from its Nigerian unit rose from N1.29 trillion ($860.6 million) to N2.19 trillion ($1.46 billion), helped by higher cement prices.
With February’s gains, Rupert’s year-to-date increase now stands at $3.19 billion, making him the only African billionaire to have gained more than $3 billion so far in 2025.
The cement manufacturer recorded a 6.4 percent rise in profit despite surging finance costs and operational expenses.
The leaders of the acquired companies welcomed the partnerships, describing them as valuable opportunities for growth.
The move builds on Flutterwave’s aggressive expansion strategy, which has seen it secure multiple licenses across Africa.
The decline follows a steep 16 percent drop in ARM’s share price over the past five days, with the stock sliding from R162 ($8.8) to R135 ($7.33).
The move reflects the growing financial strain on Kenyan businesses as economic pressures mount.
