South African billionaire Christo Wiese positive on Nigeria, predicts investors’ return
Wiese emphasized that the current withdrawal of foreign investors, including those from South Africa, is a temporary phenomenon.
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Nigerian tycoon Tony Elumelu to list Transcorp’s Power assets on NGX, targets $1.1 billion market cap
The listing, scheduled for Mar. 4, aims to generate value for investors and signifies a pivotal move in the conglomerate’s commitment to creating value from its business units.
Cement company of Africa’s richest man Aliko Dangote records $282-million profit in 2023
Dangote Cement records impressive 19-percent surge in profit, delivers strong financial performance amid challenging economic environment.
Glencore-led by South African exec Gary Nagle eyes Shell’s assets in Singapore
In a strategic move to bolster its presence in the Asian market, Glencore is actively pursuing the acquisition of Shell’s assets situated on Pulau Bukom island.
Nigerian billionaire Abdul Samad Rabiu’s cement company reports $284.4-million revenue in 2023
The recently published financial report highlights a remarkable 27.4-percent surge in revenue, rising from $223.2 million in 2022 to $284.4 million in 2023.
Kenyan executive Edwin Kinyua-led Portland Cement posts $4.9-million half-year loss
The reduction in Portland’s net loss in the current reporting period is attributed to increased revenue from cement sales, coupled with higher tax credits and reduced expenses.
South Africa’s second-richest man Nicky Oppenheimer gains $300 million in February
The surge in Oppenheimer’s wealth, which now totals $450 million year-to-date, can be attributed to a significant boost in the valuation of his diverse investments.
South African billionaire Michiel Le Roux loses $85 million from Capitec stake
Le Roux owns an 11.39-percent stake in Capitec Bank, making him one of the richest men on the continent.
‘Please Call Me’ inventor Nkosana Makate faces setback as Vodacom rejects $1.5-billion payment
Concerns were raised about the potential negative consequences on employees, shareholders, public finances, network investment, coverage, and social programs.
Tony Elumelu’s UBA commits to attracting investments in ECOWAS mining sector
The pledge was reaffirmed at the fourth ECOWAS Mining and Petroleum Forum in Cotonou, Benin.
Femi Otedola’s FBN Holdings emerges as Nigeria’s most valuable banking group
As of the close of trading on Mon., Feb. 25, FBN Holdings’ market capitalization reached an impressive N1.22 trillion ($791.1 million).
Nigerian president appoints billionaire business leaders to Economic Advisory Committee
In the face of economic challenges, Nigerian billionaire Aliko Dangote emphasizes the need for swift and decisive action from both the public and private sectors.
Hani Berzi’s Edita goes digital with Fawry to facilitate cashless collections
Founded by Berzi in 1996, Edita Food Industries has established itself as a key player in Egypt’s food industry landscape.
Preliminary reports confirm helicopter carrying Nigerian banker was on fire before crash
Eyewitnesses reported adverse weather conditions, including rain and a mix of snow, during the helicopter’s journey.
Uber in talks to back British-Nigerian entrepreneur Ladi Delano’s startup, Moove
Sources familiar with the negotiations have disclosed that the investment could potentially reach $100 million, marking a substantial milestone for both companies.
Fortunes to Felony: The Merciless Bludgeoning of a Forbes Folk Hero
The media’s narrative craftsmanship shines through in the saga of dos Santos, where the portrayal of Africa’s former richest woman ascends into fame and descends into infamy.