Africa’s richest man Aliko Dangote’s refinery begins supplying fuel to local market
The Dangote Petrochemical Complex, located on a peninsula on the outskirts of Lagos, represents a significant leap in industrial advancement.
West & Central Africa
Femi Otedola returns to world’s billionaires list as global billionaire wealth hits $14.2 trillion
With Otedola’s return to the billionaire ranks, Africa now boasts 20 billionaires, up from 19 in 2023 and 18 in 2022.
Globacom founder Mike Adenuga’s net worth rebounds sharply, nearing $7 billion
Adenuga remains among the world’s 400 richest people and one of the top five wealthiest individuals in Africa.
Nigerian tycoon Tony Elumelu-linked power company posts revenue exceeding $100 million in 2023
The surge in the company’s revenue led to a significant 74.9-percent jump in profit, reaching N30.23 billion ($23.15 million) at the end of 2023.
Nigeria’s richest banker Jim Ovia’s stake in Zenith Bank grows by $20.4 million
This recent gain strengthens Ovia’s position as Nigeria’s wealthiest banker, underscoring his success as a leading figure in the financial services industry.
Late Nigerian banker Herbert Wigwe led Access Holdings to $451-million profit in 2023
While Wigwe’s leadership is sorely missed, his impact remains evident in the group’s record-breaking 2023 profits.
U.S.-Nigerian telecom tycoon Sam Darwish’s stake in IHS gains $14 million
Darwish, chairman and CEO of IHS Holding, a major figure in African telecom, holds a significant 4.17-percent ownership stake, or 13,958,158 ordinary shares.
Bank tied to Ghana’s leading investor Daniel Ofori unveils $45-million rights issue to boost capital
Ghanaian tycoon Daniel Ofori owns 3.9 percent of CalBank. The bank plans to bolster its finances with a rights offering.
Nigerian billionaire Femi Otedola sees net worth jump to $1.7 billion
This surge is attributed to the strong performance of his diverse investment portfolio and a recent strengthening of the Nigerian naira against the U.S. dollar.
Nigerian banker Jim Ovia’s Zenith Bank partners with Mastercard to boost financial inclusion in Nigeria
The partnership marks a milestone for Mastercard, as it introduces its first domestic card in Africa and debuts the World Elite Credit Card in West Africa.
Africa’s richest man Aliko Dangote donates $11 million to fight hunger in Nigeria
His latest $11.02-million food intervention program underscores his unwavering commitment to improving lives and tackling social challenges in Nigeria.
Led by UK-based entrepreneur, Telecel acquires stake in MTN Guinea, Guinea-Bissau units
Telecel’s acquisition of stakes in MTN Guinea-Bissau and MTN Guinea-Conakry is expected to drive growth and further development in these regions.
Media group with French billionaire ties buys stake in Senegalese production firm
Bollore-backed Canal+ has been actively expanding in Africa.
Nigerian businessman Tony Elumelu’s UBA stake nears $50 million
As his stake in UBA approaches $50 million, Elumelu’s influence and commitment to Africa’s economic prosperity remain undeniable.
Nigerian banker Jim Ovia’s Zenith Bank invests in Niteon to boost digital export infrastructure
Zenith Bank’s decision to invest in Niteon underscores its dedication to fostering economic growth and innovation across Africa.
Nigerian businessman Tony Elumelu awards $5-million seed capital to 1,000 African entrepreneurs
Each recipient is set to receive a $5,000 non-refundable seed capital to kickstart their entrepreneurial endeavors.