Dangote Refinery Files $5 Billion IPO Application, Eyes Africa’s Biggest Stock Market Listing

The Dangote Petroleum Refinery & Petrochemicals has taken a major step toward going public after submitting its initial application to Nigeria’s Securities and Exchange Commission (SEC) for a proposed $5 billion Initial Public Offering (IPO). If approved and completed at the targeted size, the offering would become the largest stock market listing in Africa, marking…

Femi Otedola Invests Fresh ₦18.1 Billion in First HoldCo, Further Raises Stake

Billionaire businessman and First HoldCo Plc Group Chairman, Femi Otedola, has strengthened his position in the financial services group after acquiring an additional 138.04 million shares valued at ₦18.11 billion through an entity linked to him. The latest purchase, executed on the Nigerian Exchange Limited (NGX), further increases Otedola’s beneficial ownership of First HoldCo as…

CAF Backs FIFA After Apology Over FIFA Forward Enterprise, Reaffirms Support for Gianni Infantino

The Confederation of African Football (CAF) has backed FIFA’s decision to acknowledge mistakes in the handling of its proposed FIFA Forward Enterprise, while unanimously reaffirming its support for FIFA President Gianni Infantino. The position was reached during a meeting of the CAF Executive Committee, where members endorsed a joint statement issued by Infantino and FIFA…