Nigerian oil magnate Wale Tinubu’s Oando posts $51 million in profit in 2023
Oando’s average production for 2023 was 20,837 barrels per day, slightly up from 20,703 barrels per day in 2022.
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South African billionaire Patrice Motsepe’s net worth falls below $3 billion
Motsepe’s fortune peaked above $3 billion in May, but a $200 million decline linked to his stake in African Rainbow Minerals (ARM) has pushed his net worth to $2.8 billion.
Nigerian billionaire Femi Otedola’s Geregu Power inks deal with Siemens Energy to triple capacity
The MoU, signed in Berlin on May 29, 2024, focuses on developing solutions for sustainable, resilient, and efficient power generation at Geregu’s existing plant.
South African Saltzman family transfers $47 million in Dis-Chem shares to executives
The recent sale aligns with a broader trend in the South African retail industry, where founding families reduce their control over companies.
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.
Bravura Holdings unveils Zimbabwe’s first world-class lithium upgrade facility at Victoria Falls Mining Indaba
Benedict Peters, through Bravura Holdings, has propelled this project forward, showcasing its comprehensive design at the Indaba.
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.
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
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.
South African executive Gary Nagle-led Glencore to pay Nigeria $50-million ‘settlement’ penalty
Glencore’s legal troubles are wide-ranging. In May 2022, the company settled investigations in the U.S., U.K., and Brazil for $1.5 billion, with $1.06 billion going to U.S. and Brazilian authorities.
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.
Egypt’s richest man Nassef Sawiris’ net worth tops $9 billion
Year-to-date, Sawiris’ wealth has increased by $667 million, driven by the performance of his stakes in Dutch fertilizer giant OCI N.V. and German sportswear giant Adidas.
Nigerian gambling magnate Kessington Adebutu loses $2.8 million on Wema Bank shares
This comes after a surge in the market value of his stake in Wema Bank between May 1 and 7, when it increased by N6.01 billion ($4.35 million)
Bank led by Nigerian billionaire Femi Otedola declares $9.9-million dividend for shareholders
One of Nigeria’s most valuable banking groups, FBN Holdings has solidified its position in the financial services industry.