Omokolade Ajayi

Lagos

Wealth Analyst and Reporter at Billionaires.Africa

Get the information and do your due diligence. I chronicle Africa's success stories and track its richest people

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Articles

JP Morgan takes new shares worth $288 million in Bernard Berson-led Bidcorp

1 week ago | billionaires.africa | Feyisayo Ajayi |Omokolade Ajayi

Key PointsJP Morgan raised its stake in Bidcorp to 10.86%, acquiring shares worth $288.7 million, signaling confidence in the food service group's growth. The latest purchase brings JP Morgan's total Bidcorp holding to $893.85 million, following an earlier stake worth $605.15 million. This move complements JP Morgan’s broader South African strategy, recently increasing its stake in Bidvest, reinforcing confidence in local companies with strong leadership.
Herbert Wigwe, Aig-Imoukhuede co-own $64 million stake, report shows

1 week ago | billionaires.africa | Omokolade Ajayi |Feyisayo Ajayi

Key PointsHerbert Wigwe and Aigboje Aig-Imoukhuede jointly own a $64.5 million stake in Access Holdings Plc through four corporate entities. The two banking leaders' shares, totaling 4.82 billion, are valued at N103.6 billion ($64.5 million) and promise N9.9 billion ($6.2 million) in dividends. A Lagos court dismissed a petition to change estate administrators, reaffirming the legitimacy of the current management structure.
Clicks Group, led by Bertina Engelbrecht, plans $54.5 million expansion

1 week ago | billionaires.africa | Feyisayo Ajayi |Omokolade Ajayi

Key PointsClicks Group to invest $54.5 million by end-2025 to expand store network, boost tech infrastructure, and enhance its distribution capabilities. Loyalty-driven sales growth pushes revenue to R23.2 billion, with ClubCard purchases accounting for 81.6% of retail sales in H1 2025. CEO Bertina Engelbrecht leads expansion push as Clicks opens up to 55 new outlets and repurchases $19.7 million in shares to reward investors.
Masiyiwa loses $600 million but pushes ahead with Africa’s first AI factory

1 week ago | billionaires.africa | Omokolade Ajayi |Feyisayo Ajayi |Timilehin Adejumobi

Key PointsStrive Masiyiwa’s fortune has plunged by $600 million in 2024, driven by Zimbabwe’s currency overhaul and market instability. Despite losses, Masiyiwa is investing $720 million in Africa’s first AI factory, backed by NVIDIA’s cutting-edge technology. The AI facility, starting in South Africa by June 2025, will offer AI computing power across five African countries via Cassava’s fiber network.
Jannie Mouton's PSG Group posts $73 million profit

1 week ago | billionaires.africa | Feyisayo Ajayi |Timilehin Adejumobi |Omokolade Ajayi

Key PointsPSG Group's profit rose 23.47% to $73.2 million in 2025, driven by increased insurance revenue and client investments. Total income grew 13.24%, reaching $354.97 million attributed to improved customer activity and market-linked revenue streams. As part of its strategy to optimize value, PSG repurchased and cancelled 19.1 million shares at a cost of $17.54 million during the year.
10 biggest university donations by Black billionaires

1 week ago | billionaires.africa | Feyisayo Ajayi |Omokolade Ajayi

Billionaires.Africa spotlights the top 10 university donations by Black billionaires, showcasing efforts to transform education and advance inclusivity. Key PointsDr. Dre and Jimmy Iovine's $70 million USC gift created a tech-driven academy merging arts, technology, and entrepreneurship for future innovators. Robert F.
Abdul Samad Rabiu’s BUA to build gas power plant for LNG project

1 week ago | billionaires.africa | Omokolade Ajayi |Feyisayo Ajayi |Timilehin Adejumobi

Key PointsBUA Group partners with India’s Green Power to build 20MW gas-powered plant supporting its LNG operations and boosting energy self-sufficiency. The deal, signed in Dubai, aligns with BUA’s strategy to reduce energy dependence and strengthen local industrial infrastructure. Led by billionaire Abdul Samad Rabiu, BUA continues major investments across cement, packaging, and palm oil to fuel Africa’s industrial growth.
Khamis family's stake in Oriental Weavers falls by $17 million

1 week ago | billionaires.africa | Timilehin Adejumobi |Omokolade Ajayi

Key PointsThe Khamis family’s stake in Oriental Weavers has dropped by $17.09 million since Feb. 4, due to renewed market volatility and investor caution. The company’s share price fell 9.13%, dragging its market capitalization down to the $300 million mark, resulting in losses for investors. Despite Oriental Weavers reporting a 38% revenue surge and solid net income growth in 2024, its stock has fallen 7.68% year-to-date.
Aliko Dangote loses $800 million amid fresh naira weakness

1 week ago | billionaires.africa | Omokolade Ajayi |Feyisayo Ajayi |Timilehin Adejumobi

Key PointsAliko Dangote's net worth fell from $23.9 billion to $23.1 billion in 18 days, mainly due to the weakening Nigerian naira. A nearly 7% naira drop slashed the dollar value of Dangote’s cement, oil, sugar, and fertilizer assets. Dangote will earn $293.2million in dividends from Dangote Cement after a strong 2024 financial performance. Aliko Dangote, Africa’s richest person, has seen his fortune take a sharp hit in recent weeks, with his net worth dropping by $800 million in just 18 days.
Aig-Imoukhuede leads Access Holdings to $400 million profit

1 week ago | billionaires.africa | Feyisayo Ajayi |Timilehin Adejumobi |Omokolade Ajayi

Key PointsAccess Holdings posted a $400 million profit in 2024, driven by rising interest income, non-interest revenue growth, and disciplined cost management. Assets surged 55.5 percent to $25.85 billion, reinforcing Access Holdings’ lead as Nigeria’s largest bank by assets, outpacing key rivals GTCO and Zenith Bank. Under Aigboje Aig-Imoukhuede, the group advanced pan-African growth, securing Kenyan regulatory nod while navigating Nigeria’s pause on new acquisitions.