Airtel Africa kicks off $100 million buyback program for shareholders
This initiative follows a similar $100 million buyback completed in March 2024, further underscoring Airtel Africa’s commitment to capital reduction and rewarding shareholders.
West & Central Africa
Abdul Samad Rabiu faces $1.6 billion loss in BUA Cement as naira weakens
This underscores Nigerian investors' broader financial challenges amid currency volatility and economic uncertainty.
Naira devaluation cuts $72.4 million from Jim Ovia's Zenith Bank stake
The devaluation of the Naira has eroded nominal gains, reflecting the impact of currency depreciation on wealth accumulation.
Tony Elumelu faces $18 million loss in UBA stake
This highlights the challenges posed by Nigeria’s volatile currency on shareholder wealth.
Aradel-backed consortium gets approval for $2.4 billion Shell deal
The transaction has been designed to preserve SPDC’s operational integrity post-acquisition.
BUA launches 2,400-ton gypsum plaster production facility in Nigeria
The state-of-the-art plant underscores BUA Group’s growing influence in Africa’s industrial and manufacturing sectors.
Chappal mulls selling Equity after $860 million TotalEnergies transaction
Chappal Energies seeks new investors to fund expansion following significant acquisitions in Nigeria.
MTN Nigeria raises $46.6 million from commercial paper issuance
The issuance forms part of the company’s N250-billion ($151.9 million) commercial paper program.
Kessington Adebutu’s Wema Bank stake loses $2.73 million as naira depreciates
Adebutu’s holdings reflect broader economic challenges in Nigeria as Currency Depreciation Erases Gains Despite Wema Bank’s stock surge.
Access Bank expands to Malta, strengthening Europe-Africa trade links
Access Bank's decision to establish a presence in Malta signals its broader push into key global markets, following the recent opening of its Hong Kong branch.
Dangote Sugar Refinery launches $32 million commercial paper to fund expansion
The Series 7 paper, with a 270-day tenor, offers a 24.5524 percent discount rate and a 30 percent implied yield.
Seplat Energy acquires ExxonMobil Nigeria for $800 million
The deal strengthens Seplat’s leadership in the country’s energy sector and enhances its global standing.
Geregu Power eyes $40 million quarterly revenue target for early 2025
Geregu Power, led by Nigerian billionaire Femi Otedola, targets $40 million revenue in Q1 2025 as it builds on robust 2024 performance.
Chappal Energies completes $1.2 billion Equinor Nigeria acquisition
The Nigerian federal government approved the divestment on October 21, 2024, enabling Chappal to take control of ENEC through Project Odinmim.
Naira's slide cuts Abdul Samad Rabiu's wealth by $3.6 billion
This sharp drop has pushed him from fifth to sixth place on the African rich list.
Waymo partners with British-Nigerian entrepreneur’s mobility startup for U.S. expansion
This collaboration marks a pivotal step in Moove’s U.S. market entry and is part of a broader strategy to build the world’s largest fleet.