Aliko Dangote’s sugar firm raises $28.8 million via commercial paper
Despite challenges, Dangote Sugar aims to leverage the funds raised from the Notes to meet its operational and growth objectives.
West & Central Africa
Wema Bank backed by Kessington Adebutu secures approval to raise $26.3 million
The Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) have approved the bank’s $26.3 million rights issue.
Nigerian banker Segun Agbaje-led GTCO eyes July for $329-million capital raise
The capital raise, aimed at generating N500 billion ($329.5 million) through the issuance of ordinary shares, underscores GTCO’s strategy to bolster its technological infrastructure
Nigerian businessman Arthur Eze recovers stolen assets worth millions of dollars
The EFCC upheld the forfeiture of 20 properties, 10 vehicles, and luxury watches to Eze, dismissing appeals by his brothers.
Nigeria’s richest banker Jim Ovia gains $16.8 million from Zenith Bank stake
The uptick comes after a previous decline, during which his stake in Zenith Bank fell by $13.3 million between April 25 and May 2
Elon Musk’s Starlink reaches 100th country milestone with Sierra Leone launch
This comes a year after Starlink secured approval to operate in Sierra Leone, becoming the fifth African country to grant it an operational license.
Nigerian businessman Atedo Peterside retires from Standard Bank Group after 35 years
“The retirement age is actually 70, but I believe 35 years is enough, and the succession plans have worked well,” he said.
Africa’s richest man Aliko Dangote’s refinery pushes petrol production to mid-July
The petrochemical complex was previously scheduled to begin churning out premium motor spirit (PMS) in June.
Nigerian billionaire Femi Otedola’s energy firm targets $28.2-million revenue in Q3 2024
Geregu Power’s impressive forecast is bolstered by its plans to expand total capacity from 435MW to 1,200MW.
Nigerian banker Aigboje Aig-Imoukhuede-led Access Holdings acquires Tanzanian bank
With the recent entry into Tanzania, Access Holdings targets local, regional, and international revenue opportunities across within the East African region.
Africa’s richest man Aliko Dangote shares how he overcame challenges to build Dangote Oil Refinery
Dangote’s refinery project represents a monumental effort to industrialize Africa and underscores his belief in the continent’s potential to drive its own development.
Nigerian oil magnate Wale Tinubu’s Oando announces participation in $3.3-billion facility
Tinubu emphasizes ability to create value as an indigenous partner of choice in Project Gazelle as another win for Oando and Nigeria.
Ghanaian tycoon Joseph Agyepong’s Jospong Group seeks support for African businesses from South Korea
Dr. Joseph Siaw Agyepong, Executive Chairman of the Jospong Group of Companies, emphasizes the potential benefits of Ghana and Africa’s partnership with South Korea in business and development.
Femi Otedola’s Geregu Power eyes growth as Nigeria finalizes $1.15-billion power plant sale
The company is in line to acquire one of five power plants being sold by the Nigerian government through the Ministry of Power.
Burkinabe tycoon Mahamadou Bonkoungou expands commercial airline fleet to four aircrafts
This new acquisition represents a major milestone for the company. From the outset of its operations one year ago, LIZ Aviation had announced its expansion fleet to four aircraft.
Femi Otedola boosts stake in First Bank parent with new shares worth $7.7 million
Femi Otedola now holds a 7.01 percent stake in the financial services group.