NNPC
BusinessHot News

Nigeria’s NNPC advances $21 billion Bonga offshore oil project

Bonga Southwest Aparo advances toward FID as NNPC, Shell and partners clear fiscal terms for a potential $21 billion deepwater project.

Timilehin Adejumobi Timilehin Adejumobi
The Central Bank of Nigeria.
BusinessHot News

Nigeria’s foreign reserves surge past $52 billion, easing naira pressure

Nigeria’s foreign exchange reserves climbed to $52.66 billion as crude receipts and portfolio inflows eased pressure on the naira.

Omokolade Ajayi Omokolade Ajayi
South African retail giant The Foschini Group
BusinessHot News

South Africa’s Foschini Group eyes job cuts, store closures in major overhaul

The Foschini Group has opened retrenchment talks and mapped out 100 store closures as a retail slump wipes over $600 million off its value.

Omokolade Ajayi Omokolade Ajayi
MTN Group logo, representing the pan-African telecom operator.
TechnologyBusinessHot News

MTN backs midterm targets with $374 million buyback as core cash holds up

MTN launches a $374 million share buyback as stronger African operations lift earnings, free cash flow, and medium-term growth prospects.

Omokolade Ajayi Omokolade Ajayi
Tharisa Plc
BusinessHot News

Tharisa secures 25-year lease for major Zimbabwe platinum project

Karo Platinum Project wins a 25-year Zimbabwe mining lease, clearing a path to 2027 production and 226,000 ounces of PGMs annually.

Timilehin Adejumobi Timilehin Adejumobi
ADvTECH
BusinessHot News

AdvTech posts $316 million revenue as enrolments near 120,000

AdvTech’s revenue rose 8% to $316 million as enrolments climbed 13% to nearly 120,000, driven by strong growth across education operations.

Feyisayo Ajayi Feyisayo Ajayi
Nigerian billionaire Tony Elumelu.
BillionairesBusinessHot News

After pocketing over $20 million, Tony Elumelu eyes another $14 million dividend from Seplat Energy

Tony Elumelu is due to receive $14.45 million from Seplat Energy on Aug. 28, taking his 2026 dividends to $35.3 million.

Omokolade Ajayi Omokolade Ajayi
BillionairesBusinessHot News

Nigerian billionaire Femi Otedola adds $9.3 million in First HoldCo shares, targets 51%

Femi Otedola buys $9.33 million in First HoldCo shares, raising his stake to 26.6 percent as he targets 51 percent ownership.

Omokolade Ajayi Omokolade Ajayi
Datatec dividend Jens Montanana
BusinessHot News

South African tycoon Jens Montanana set for $81 million Datatec dividend payday

Datatec founder Jens Montanana is set for an $81.3 million dividend payday after the technology group declared a R7.05 billion ($435 million) special dividend.

Feyisayo Ajayi Feyisayo Ajayi
Airlink to launch direct flights linking Gqeberha and Mbombela
TourismLuxury

Airlink to launch direct flights linking Gqeberha and Mbombela

Airlink will launch direct flights between Gqeberha and Mbombela from Nov. 16, connecting the Eastern Cape with the Kruger region.

Oluwatosin Alao Oluwatosin Alao
Mike Silber, CEO of AFRINIC
BusinessTechnology

South African internet veteran Mike Silber appointed AFRINIC CEO

Mike Silber will become AFRINIC CEO in 2027, bringing internet, regulatory and governance experience to Africa's registry.

Timilehin Adejumobi Timilehin Adejumobi
Dipula Properties Logo
BusinessHot News

South Africa’s Dipula Properties seals $125 million retail portfolio deal

Dipula Properties acquisition adds nine shopping centres, expanding its retail footprint and lifting retail income exposure to nearly 80%.

Timilehin Adejumobi Timilehin Adejumobi