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Nigeria

Microsoft 4Afrika

Microsoft 4Afrika selects five African startups for innovation grant

US tech giant Microsoft selected five African tech startups to receive innovation grants, technical support, and mentorship from Microsoft under its venture arm extension, the Microsoft 4Afrika Initiative.

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TNB

Vasari chief grabs majority stake in South African spirits firm TNB

Former Whyte & Mackay chief Vivian Imerman grabbed a majority stake in South Africa-based spirits firm TNB through his own company Vasari for an undisclosed sum to expand his portfolio of liquors and spirits.

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ConocoPhillips

Nigeria's Oando confirms raising $1.63B for Conoco assets acquisition

Nigeria-based energy firm Oando Plc said it closed $1.63 billion to purchase the assets of US-based firm ConocoPhillips in the country, in a bid to become the top producer for the biggest oil exporter of Africa.

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Aliko Dangote

Africa's richest man to invest $9 billion on Nigerian oil refinery

Aliko Dangote, Africa's richest man with about $22 billion net worth, is set to spend $9 billion to build the largest privately-owned oil refinery in Nigeria.

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Aliko Dangote

Dangote pushes for $16B investment in cement, agriculture, industrials

Aliko Dangote, the richest man in Africa and Chief Executive of Nigerian company Dangote Group, plans to invest around $16 billion in cement, agriculture, and petrochemicals project in 18 countries over the next four years.

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Protea Hotel Group

Protea bets NGN11.13 billion in Nigeria's hospitality industry

Protea Group has invested NGN11.13 billion (over USD70 million) for the development of more hotel brands in Nigeria, according to the group's chief executive officer.

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Woolworths

Woolworths closes Nigerian stores

Due to high costs of operations and low returns, Woolworths opts to close down stores in Nigeria.

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Nigerian President Goodluck Jonathan

Nigerian President gives control of power firms to private companies

Nigerian President Goodluck Jonathan handed control of 14 power companies formerly owned by the state to private investors.

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Aliko Dangote

Nigeria's Dangote plans to build USD 400 million cement plant in Kenya- Kenyatta

President Uhuru Kenyatta's office said Africa's richest man Aliko Dangote would invest in a USD 400 million cement factory in Kenya.

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Nigeria

Federal Government of Nigeria loses USD 40 billion in 76 oil leases not yet in production

The Federal Government of Nigeria lost USD 40 billion in downstream infrastructure investments for 76 non-producing oil leases.

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Nigerian Parliament

Nigeria inaugurates a committee for private equity and venture capital investments

The Nigerian federal government created a committee to enhance both private equity and venture capital investments across the country.

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Minister Olusegun Aganga

Nigerian Minister Aganga: “We want to build a new sector called venture capital”

Nigerian Minister Aganga said the government wanted to build a venture capital sector.

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Minister Olusegun Aganga

Nigerian Minister Aganga: “We want to build a new sector called venture capital”

Nigerian Minister Aganga said the government wanted to build a venture capital sector.

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Nigeria Oil

China's Sinosteel in talks to obtain Nigeria's steel mill

Sinosteel was in talks with Nigerian ministers for about US$6 million worth investment in Nigerian steel mill.

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Nigeria

Investors in Nigeria more confident - LCCI

According to the third quarter BCI Index, investors in Nigeria are becoming more confident.

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