Blackstone swipes left on Bumble after doubling its investment
Blackstone first bought a ‘s parent MagicLab in 2019 at a $3 billion valuation. Just over a year later, Bumble went public and ended its first trading day worth roughly $13 billion
After a decade without an IPO, Africa’s largest diamond market gets a $155 million bet on its insurance industry
Approximately 20% of the 2.13 billion pula ($155 million) capital raised will be allocated to strategic growth initiatives across the continent, with the balance distributed to current shareholders liquidating their equity
17 years after Africa became a nuclear weapon-free zone, Nigeria tells the UN it has never pursued nuclear arms
Nigeria’s Permanent Representative to the United Nations, Jimoh Ibrahim, made the declaration during the UN General Assembly’s 108th plenary meeting in New York, saying Nigeria “neither possesses nuclear weapons nor has ever pursued a nuclear weapons programme.”
Africa’s richest man plans to buy ships after struggling to move cement from Nigeria to Ghana
Dangote Industries is moving towards acquiring vessels to transport products from Nigeria to markets across West and Central Africa, as limited shipping capacity and the cost of moving goods by road complicate the group’s regional expansion
After years of regulatory hurdles, Elon Musk’s Starlink moves closer to South African market
The latest development is significant because SpaceX is no longer simply arguing that South Africa’s rules are preventing Starlink from operating
After $11.4 million China satellite debt dispute, Nigeria turns to Israeli, French firms for next-generation satellites
The Federal Government has approved the acquisition and deployment of NigComSat-2A and NigComSat-2B, with Israel Aerospace Industries (IAI) and France’s Thales Alenia Space set to provide the new satellites
Months after U.S. listed Nigeria as emerging lithium source, Chinese-backed firm targets country’s projects with 240,000-tonne trial mine
Australian-listed Chariot Corporation said it has signed a term sheet with China-based C&D Logistics and ZhongNuo Advanced Materials for a direct shipping ore (DSO) lithium operation in Nigeria. The proposed project is expected to begin with a trial mining operation targeting up to 240,000 tonnes of lithium ore
Days after Ghana setback, Ramaphosa turns to France to strengthen trade and diplomatic ties
Ramaphosa arrived in France on Friday for a three-day official visit that includes talks with Macron, meetings with French business leaders and high-level education engagements at UNESCO
Nigerian Startups Set for GEC+ Africa After Regional Pitch Competition in –
The Global Entrepreneurship Network (GEN) Nigeria, in partnership with Tripoint Travel Limited and the Enterprise Development Centre (EDC), Pan-Atlantic University, has concluded the Nigerian edition of the GEC+ Africa Regional Pitch Competition, selecting three outstanding startups to represent the country at GEC+ Africa in Cape Town, South Africa, later this year
After 50 years without a stock market, Africa’s second-most populous nation adds another major bank
Abay Bank S.C. has listed its shares on the(ESX) Main Market under the ticker ABAYB, becoming the fifth company admitted to Africa’s youngest stock exchange and the fourth private commercial bank to list since trading began in January 2025