Billionaire Femi Otedola made chairman of Nigeria’s First Bank
The decision to elevate Otedola to the position of chairman was reached at a board meeting today.
West & Central Africa
Greek businessman John Coumantaros loses $24.5 million from Flour Mills stake
Coumantaros faced significant losses as the company’s shares took a recent hit on the Nigerian Exchange.
Dangote’s half-brother Sayyu Dantata’s oil firm exceeds $190 million in revenue in 2023
Similarly, the company’s profit saw a substantial increase of over 270 percent from $1.37 million $5.14 million, indicating improved operational efficiency and cost-effectiveness.
Nigerian billionaire Femi Otedola’s power empire rakes in $90-million revenue in 2023
The company’s revenue soared beyond the $90-million mark during the period under review, marking a significant milestone in its operations.
Refinery owned by world’s richest Black billionaire set to import U.S. oil
The move by the Dangote Oil Refinery, led by Aliko Dangote, who holds the title of the world’s richest Black billionaire, signals a significant change in strategy.
Nigerian mogul Wale Tinubu’s Oando, others secure $755-million NNPC deal
The contract, part of the Direct Sale and Direct Purchase (DSDP) initiative, was awarded to six oil companies.
Nigeria’s second-richest man Abdul Samad Rabiu gains $4.18 billion in wealth this year
With a year-to-date wealth gain of $4.18 billion, pushing his net worth to $8.27 billion, he ranks among the top 20 wealth gainers globally in January 2024.
Nigerian billionaire Femi Otedola is $300-million richer in 28 days
The surge in Otedola’s net worth is attributed to the stellar performance of his diverse investment portfolio.
Africa’s richest man Aliko Dangote secures spot among world’s biggest gainers
Overcoming naira woes and macroeconomic uncertainties, Dangote’s net worth climbs to $22 billion — a $6.9 billion surge in 2024.
Companies owned by Nigerian-born tech billionaire Tope Awotona
From revolutionizing scheduling with Calendly to empowering entrepreneurs through investments in Vonza and driving positive change with Givebutter.
Herbert Wigwe-led Access Holdings expands portfolio with pension business acquisition
According to Wigwe, the proposed acquisition will contribute positively to the growth and development of the pension industry.
Nigerian billionaire Mike Adenuga gains $16.3 million from Conoil shares
This swift increase underscores Adenuga’s adept strategic investments, propelling his total fortune to $7 billion and securing his position among the world’s wealthiest individuals.
Nigerian tycoon Fola Adeola’s Iwosan Investments unveils new medical facility in Lagos
Iwosan Investments is a leading healthcare investment firm committed to transforming and improving Nigeria’s healthcare landscape.
Nigerian executive Olusegun Ogunsanya pockets $2.4 million as Airtel Africa CEO
The compensation package represents a 73.36-percent surge from the previous year’s total reward of $1.4 million.
Nigeria’s second-richest man Abdul Samad Rabiu makes $1.1 billion within 24 hours
Rising shares propel Rabiu’s stake in cement and food ventures to a combined $11.91-billion valuation.
Ghanaian businessman signs $1-billion deal with Indian carbon credit developer
In addition to the billion-dollar deal, Agyepong announced the provision of scholarships for 10 individuals interested in pursuing studies on climate change this year.