Elon Musk’s Starlink halts orders in Nigeria until price hike is approved
Starlink halts new residential kit orders in Nigeria, citing regulatory hurdles over its proposed price adjustments.
West & Central Africa
Flour Mills gains shareholder approval for buyout deal
The move follows a resolution approved by the Federal High Court, clearing the path for the company’s long-discussed acquisition strategy, which was first unveiled on Sept. 24.
Family feud over $435-million dividend pits Nigerian oil magnate against his daughters
Indimi’s daughters have taken legal action against their father and his oil company, alleging they were unjustly denied their rightful share of a $435.1 million dividend.
Jim Ovia’s stake in Zenith Bank tops $130 million
Jim Ovia’s wealth soars, solidifying his position as Nigeria’s richest banker
Dangote Cement to issue new bond series under $180.5 million program
The move aims to bolster the company’s financial strength and improve operational efficiency.
InfraCredit secures $30 million to fund renewable energy projects in Nigeria
The funding will enable InfraCredit to expand renewable energy infrastructure, strengthening energy access in underserved communities.
IBL Group to offload stake in Mauritian bank to Access Holdings’ UK subsidiary
Mauritian conglomerate led by Arnaud Lagesse seeks to unlock value from early investment in regional bank.
John Coumantaros’ stake in Flour Mills tops $100 million
This follows a $31.57-million increase in his stake earlier this year, between Sept. 5 and Oct. 9, when his holdings increased from $68.11 million to $99.68 million.
AXIAN Energy expands solar power network in Senegal with $89-million deal
The financing will support the construction of the region's largest battery storage system alongside a photovoltaic array.
Fidelis Ayebae’s stake in Fidson Healthcare falls to under $7 million
Fidson Healthcare founder, Fidelis Ayebae, sees major stake decline, but holds firm in pharma industry.
Shoprite Nigeria expands, opens new outlet in Benin City
This new store reinforces the company's strategic growth in Nigeria.
MDaaS begins Francophone expansion with new office in Cameroon’s largest city
This is part of the company’s strategy to broaden its presence beyond Nigeria to meet increasing healthcare demands across the continent.
Kessington Adebutu gains $3.2 million from Wema Bank shares
Over the past 53 days, the market value of his stake has increased by N5.45 billion ($3.26 million), fueled by a robust stock performance on the NGX.
Sam Darwish’s stake in IHS Holding dips below $40 million
Over the past three weeks, the value of his holdings has dropped by $3.1 million, tracking a 7.8 percent fall in IHS shares.
Flour Mills reports $1.01 billion in revenue for H1 2025
FMN's revenue surged 75.98 percent, climbing from N964.6 billion ($576.26 million) in the same period last year to N1.7 trillion ($1.01 billion).
BP, Vitol, Trafigura drive sales at Dangote Oil Refinery, redefining Africa’s oil market
British oil giant BP, Swiss-based Vitol, and Singapore’s Trafigura lead sales from the Dangote Oil Refinery as Africa’s largest oil plant reshapes market.