Tag: Business

Aliko Dangote, Africa’s richest man and founder of the Dangote Group
Hot NewsBillionairesBusiness

Africa’s richest man Aliko Dangote loses $2.6 billion in less than one month

A broad Nigerian stock market sell-off erases $2.6 billion from Aliko Dangote's fortune in less than a month as cement shares tumble.

Omokolade Ajayi Omokolade Ajayi
WeLight's agent and customer
TechnologyBusinessHot News

Africa’s biggest solar mini-grid operator WeLight lands $31 million IFC-backed deal

IFC acquires a stake in WeLight, providing $31 million to accelerate solar mini-grid expansion across Nigeria and the DRC.

Omokolade Ajayi Omokolade Ajayi
South African banking giant FirstRand.
Hot NewsBusiness

FirstRand says $1 billion UK redress charge to cut annual earnings

FirstRand faces a $1.02 billion UK provision hit, but robust banking growth across South Africa and broader African markets keeps core earnings resilient.

Omokolade Ajayi Omokolade Ajayi
Titus Muya, the founder of Family Bank.
Hot NewsBusiness

Family Bank founder Titus Muya, allies gain $37 million as stock jumps 44% in NSE debut

Family Bank founder Titus Muya and allies gain $36.6 million as the lender’s shares jump 44 percent in their NSE market debut.

Omokolade Ajayi Omokolade Ajayi
Nairobi’s Le’Mac Tower
Hot NewsBusiness

Parts of Nairobi’s $41.5 million Le’Mac Tower set for auction

Part of Nairobi’s Le’ Mac Tower valued at $41.5 million goes to auction after developer enters administration over unpaid debts in Westlands.

Omokolade Ajayi Omokolade Ajayi
Nigerian billionaire Abdul Samad Rabiu.
BusinessBillionairesHot News

After $11 million Q1 revenue, Abdul Samad Rabiu brings BUA Rice back to market

BUA Foods brings back branded BUA Rice to boost domestic supply after the rice division generated $11 million in the first quarter of 2026.

Omokolade Ajayi Omokolade Ajayi
Dr. Awele Vivien Elumelu.
ExclusiveBusinessHot News

Dr. Awele Elumelu: Physician behind Nigeria’s top HMO and $1.6 billion hospitality giant

Dr. Awele Elumelu, the physician leading a $1.67 billion hospitality giant and Nigeria’s most trusted health maintenance organization.

Omokolade Ajayi Omokolade Ajayi
Nigerian executive Modupe Kadri.
Hot NewsBusiness

After 3-day spree, MTN Nigeria CFO Modupe Kadri boosts stake to $1.72 million

MTN Nigeria CFO Modupe Kadri boosts his stake to $1.72 million after a three-day, N1.26 billion buying streak on the Nigerian Exchange.

Omokolade Ajayi Omokolade Ajayi
BusinessHot News

Nigeria’s Aradel profit jumps to $555 million as gas, oil acquisitions pay off

Aradel Holdings' profit hit $555.7 million in 2025 as production gains and strategic upstream acquisitions drove growth.

Omokolade Ajayi Omokolade Ajayi
Lithium
Hot NewsBusiness

Nigeria wins $3 billion in mining investments as Africa halts cheap raw exports

Nigeria secures $3 billion in mining investments as African nations halt cheap raw exports to focus on local processing.

Omokolade Ajayi Omokolade Ajayi
Conoil Plc, the Lagos-based petroleum marketer.
Hot NewsBusiness

Nigeria’s Conoil profit jumps to $2.9 million in Q1 2026 on lower costs

Conoil posts N3.89 billion ($2.9 million) Q1 2026 profit as cost cuts offset revenue decline and strengthen margins.

Omokolade Ajayi Omokolade Ajayi
Harel Mallac & Co. Limited, a Mauritius-based diversified conglomerate.
Hot NewsBusiness

Mauritius-based Harel Mallac steers recovery as turnaround efforts lift revenue to $72.5 million

Port Louis-based diversified conglomerate Harel Mallac returns to operating profit as turnaround efforts lift revenue to $72.5 million.

Omokolade Ajayi Omokolade Ajayi