Femi Otedola leads FBN Holdings to $371.9 million profit in 9M 2024
FBN Holdings posts robust financial results as profit surges 125 percent under Femi Otedola’s leadership.
Nigeria
Dangote Group commits $280 million to CNG technology for Nigeria’s low-carbon future
The move aligns with President Bola Tinubu’s push to make gas central to Nigeria’s low-carbon economy.
Dangote Cement revenue surges 69 percent to $1.56 billion in nine months
Pan-African operations drive growth; profit margins remain steady despite rising costs.
Haldane McCall targets $7.3-million market cap ahead of NGX listing
The listing reflects Haldane McCall’s commitment to expanding investment opportunities within Nigeria’s real estate and hospitality sectors.
Aradel Holdings sees $517-million market cap drop amid investor sell-off
The selloff coincides with Nigeria’s decision to reject Shell’s plan to offload its onshore oil assets to a consortium that includes Aradel, alongside ND Western and Waltersmith.
UBA posts $320.9-million profit in 9M 2024
This growth was bolstered by improved fee income and robust foreign exchange earnings, highlighting UBA's adaptability in volatile markets.
Eterna launches Jet-A1 fuel operations at Lagos airport
This strategic initiative represents a substantial expansion in the company’s aviation fuel services portfolio.
Oando targets 100,000 barrels of oil per day amid global expansion plans
Irune highlighted the company’s focus on deepening regional investments while working closely with local governments and host communities.
Flour Mills plans $1-billion investment in Nigeria over four years
The announcement follows a move by its majority shareholder, Excelsior Shipping Company, to buy out minority shareholders and take the company private.
Grid Africa secures $2.8 million to boost solar projects in South Africa
The move aims to boost renewable energy projects in South Africa, as the country grapples with an increasingly strained power sector.
United Capital reports nearly $10-million profit for first nine months of 2024
Gross earnings surged by 60.87 percent, reaching N28.17 billion ($17.21 million) from N17.51 billion ($10.7 million) in the corresponding period of 2023.
Moove enters Mexican market in continued global expansion efforts
The startup, which aims to achieve profitability next year, is committed to empowering gig workers and promoting sustainable mobility in North America.
U.S.-Nigerian telecom tycoon Sam Darwish loses $7.42 million as IHS shares fall
This follows a brief uptick between Aug. 6 and 10, when his stake gained $4.61 million amid a fleeting share price recovery.
Transcorp Power's nine-month profit surges to over $35 million
Transcorp Power’s strong revenue growth across segments boosts earnings above $35 million.
Geregu Power’s profit more than doubles to $15 million in 9M 2024
Total assets rose 21 percent to N221.09 billion ($136.4 million), reflecting strong growth and strategic investments under billionaire Femi Otedola's leadership.
Lagos-based Greek tycoon John Coumantaros’ stake in Flour Mills nears $100 million
The rise builds on earlier gains of $11.12 million between June 7 and Aug. 13, when his stake in Flour Mills rose from $62.13 million to $73.24 million.
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