Globacom names telecom expert Ahmad Farroukh as CEO to drive operational reform
Ahmad Farroukh steps in as Globacom's CEO to lead critical reforms and address urgent subscriber challenges.
Central and West Africa
UBA pursues $143.6-million rights issue for African expansion
UBA seeks $143.6 million in new capital to drive expansion across Africa.
Heirs Energies pledges to advance sustainable energy at African Energy Week 2024
Heirs Energies is set to drive sustainable energy solutions at African Energy Week 2024, aligning with Tony Elumelu’s vision for transforming Africa’s energy sector.
Fresh petition stalls Stella Oduah's N7.9-billion fraud arraignment for the sixth time
The fraud arraignment of former Aviation Minister, Stella Oduah has been delayed for the sixth time due to a fresh petition filed by co-defendants, calling for a review of the charges.
Oando commits to driving Nigeria’s energy future with sustainable solutions
Oando Group pledges to drive Nigeria’s energy future through sustainable solutions, with major projects like Okpai leading the way.
MTN Nigeria posts $311.2-million loss in Q3 2024 amid forex volatility and rising costs
MTN Nigeria Communications Plc, led by CEO Karl Toriola, reports a staggering loss of N514.9 billion ($311.2 million) for Q3 2024, marking a sharp increase in losses compared to N14.9 billion ($9 million) in the same period last year, driven by foreign exchange challenges and rising expenses.
Zenith Bank reports $604 million in profit, nearly doubles earnings in Q3 2024
Zenith Bank, Nigeria’s leading financial institution, achieves a remarkable 99-percent profit growth, reaching N1 trillion ($604.3 million) in the third quarter of 2024, driven by robust interest income and strategic investments despite challenging economic conditions.
Tony Elumelu calls for stronger partnerships to revitalize Nigeria’s oil and gas sector
At the 3rd anniversary of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Tony Elumelu advocates for closer collaboration between international oil companies (IOCs) and local firms to address Nigeria’s energy challenges and boost production.
Access Bank plans dollar-denominated securities sale to fuel expansion, targets entry into U.S. market by 2026
Bank eyes African dominance and global market growth amid international bank pullbacks.
BUA Cement Q3 revenue rises 91 percent amid higher costs, nine-month profit dips
Nigeria’s BUA Cement posted strong Q3 sales growth, but rising input costs trimmed nine-month profits.
Nigerian tycoon Tony Elumelu to co-chair New Africa Summit at Saudi Arabia’s Future Investment Initiative
Tony Elumelu, chairman of UBA and founder of the Tony Elumelu Foundation, will co-chair the New Africa Summit at the 8th Future Investment Initiative in Riyadh, advocating for Africa’s economic role on the global stage.
Seven businesses owned by Nigerian business mogul and philanthropist Theophilus Danjuma
Nigerian entrepreneur and philanthropist Theophilus Danjuma drives economic growth and social change through a diverse portfolio of businesses across energy, agriculture, and telecommunications.
Nigerian tycoon Aisha Achimugu partners with Global Petroleum Group on $1.8-billion Grenada oil project with $8-billion potential
Nigerian energy leader Aisha Achimugu and Oceangate join forces with GPG to develop Grenada’s offshore oil and gas reserves.
Nigerian Breweries reports FX losses surging to $98.1 million amid naira devaluation
Surge in FX losses driven by currency devaluation and economic challenges.
Access Bank, led by Nigerian executive Chizoma Okoli, launches ‘Power of 100 Africa’ initiative to empower 100 female entrepreneurs
Access Bank introduces a groundbreaking initiative to support 100 female entrepreneurs across 16 African countries, reinforcing its commitment to women’s leadership and economic growth.
FCMB, led by Nigerian banker Yemisi Edun, launches new accelerator program to empower 350 women entrepreneurs
First City Monument Bank (FCMB) introduces the Fempreneur Accelerator program, designed to support 350 women-led small and medium enterprises (SMEs) in Nigeria, promoting economic growth and innovation.