Africa’s richest man Aliko Dangote’s sugar firm to raise $69.56 million via commercial paper
With banks offering limited options, companies like Dangote Sugar are turning to the fixed-income market for alternative financing.
With banks offering limited options, companies like Dangote Sugar are turning to the fixed-income market for alternative financing.
Under Alain Nkontchou’s leadership, total comprehensive income surged significantly, rising from N7.06 billion ($15.54 million) to N448.72 billion ($123.76 million).
Under Bella Disu’s leadership, Globacom has positioned itself as Nigeria’s largest provider of digital services.
The merger of Vivo Energy and Engen marks a significant development in the African energy sector.
Under the leadership of Agboola, Flutterwave continues its mission to connect Africa to the world and vice versa by simplifying payments.
Dangote said Nigeria could halt premium motor spirit (PMS), or petrol, imports by next month thanks to the Dangote Oil Refinery.
The rise in the market value of Coumantaros’ stake in Flour Mills cements his position as a top investor on the Nigerian Exchange.
Speaking at the Africa CEO Forum in Kigali, Rwanda, Dangote detailed the refinery’s ability to produce a wide range of refined products, including gasoline, diesel, and aviation fuel.
Ovia maintains his position as Nigeria’s richest banker, highlighting his lasting success as a prominent business leader in the country.
As a security precaution, Flutterwave will notify some customers to migrate their accounts and is urging all customers to enable multifactor authentication, 3D security, and IP whitelisting.
Boasting the world’s largest single-train capacity (650,000 barrels per day), the Dangote Oil Refinery aims to wean Nigeria off its reliance on imported fuels.
This comes after a substantial gain of $7.4 million recorded between April 17 and May 1, when the market value of his stake skyrocketed from $43.41 million to $50.81 million.
The announcement, made during the Choose France Summit 2024, solidifies Aig-Imoukhuede’s role in fostering economic ties between the two nations.
The suspension follows the filing of an injunction by minority shareholders, specifically targeting the allotment of shares. Court hearings are scheduled to commence this week.
The financing will be facilitated through Nigeria’s tax credit scheme, designed to attract private sector participation in infrastructure development.
Dangote, Africa’s richest man and Nigeria’s wealthiest individual, has seen his fortune plummet by $8.6 billion since Jan. 30.