Nigeria’s richest banker Jim Ovia gains $11.6 million as Zenith Bank completes public offer
This increase highlights the strong performance of the Lagos-based lender and the confidence investors have in its prospects.
Nigeria
Zenith Bank, led by Nigerian banker Jim Ovia, raises $230.3 million in public offering, rights issue
This milestone solidifies Zenith’s position as one of Nigeria’s top-capitalized financial institutions.
Nigerian President’s nephew, Wale Tinubu, confirms Oando’s oil facilities hold over $10 billion in value
This highlights Oando's dominance in the energy landscape as the company continues to expand its footprint both locally and globally.
MTN Nigeria, led by Karl Toriola, secures $27.1 million through commercial paper issuance
The issuance is part of the company’s N250-billion ($160.56 million) commercial paper program.
Access Bank expands to Malta, strengthening Europe-Africa trade links
Access Bank's decision to establish a presence in Malta signals its broader push into key global markets, following the recent opening of its Hong Kong branch.
Funke Opeke exits MainOne after $320-million deal as Equinix focuses on growth
Funke Opeke steps down after 14 years as MainOne's CEO following a milestone $320 million acquisition by Equinix.
Dangote Oil Refinery denies payments to IPMAN amid ongoing negotiations
The refinery specified that any referenced payments were processed through the Nigerian National Petroleum Company (NNPC) Limited, not directly to them.
Femi Otedola drives parent firm of Nigeria’s oldest bank to $16 billion in assets
His leadership has helped push the group’s total assets past $16 billion, a milestone for the Lagos-based financial services provider.
IHS Nigeria powers relief efforts with solar boreholes for Maiduguri flood victims
The boreholes, part of IHS Nigeria’s ongoing collaboration with UNICEF, are designed to help prevent waterborne diseases and mitigate health risks for flood-affected residents.
Nascon reports mixed results amid revenue surge and profit decline
Despite revenue gains, net profit fell 18.64% to N8.96 billion ($5.45 million) due to rising costs.
Transcorp Power to boost Nigeria’s national grid by 150 megawatts
This is part of a broader strategy to combat the ongoing energy shortages that have long plagued the nation.
Access Bank gains approval to acquire National Bank of Kenya in $100-million deal
This move is designed to enhance Access Bank's footprint in Kenya’s burgeoning financial market, reflecting the institution's commitment to expanding its presence in East Africa.
Moniepoint secures $110 million in Series-C round backed by Google
This funding will elevate the company’s digital payment and banking capabilities, reinforcing its commitment to revolutionizing financial services across Africa.
Femi Otedola leads FBN Holdings to $371.9 million profit in 9M 2024
FBN Holdings posts robust financial results as profit surges 125 percent under Femi Otedola’s leadership.
Dangote Group commits $280 million to CNG technology for Nigeria’s low-carbon future
The move aligns with President Bola Tinubu’s push to make gas central to Nigeria’s low-carbon economy.
Dangote Cement revenue surges 69 percent to $1.56 billion in nine months
Pan-African operations drive growth; profit margins remain steady despite rising costs.