Headline

South African Billionaire Family Buys Nigeria’s Top Can-maker Firm

Published

2 years ago

December 1, 2023

A South African billionaire family popularly known as Oppenheimer has acquired a controlling stake in one of Nigeria’s prominent can makers, GZ.

The acquisition was completed by Jonathan Oppenheimer, one of the sons of the second richest man in Africa, Nicky Oppenheimer, who reportedly secured the full control of GZ Industries Ltd., Nigeria’s prominent beverage can manufacturer, signaling a bet on the potential revitalization of Africa’s largest economy.

According to a report by Bloomberg, the acquisition of the remaining shares in GZ Industries from Affirma Capital (formerly Standard Chartered Private Equity) was completed through their company, Oppenheimer Partners Limited.

Although the financial specifics of the deal remain undisclosed, the private equity firm had held a significant 37.5% stake in GZ Industries, a key supplier of cans to major entities such as Coca-Cola Co.

GZ first began operations in Nigeria in 2019. Ayodeji Adelakun is the Executive Director and Group Chief Executive Officer of the company.

This move is poised to empower Jonathan Oppenheimer to steer the trajectory of GZ Industries’ expansion within sub-Saharan Africa.

The region stands as a pivotal market, with urban, educated adults boasting the world’s highest consumption of sugary drinks, averaging 12.4 servings per week, according to research published by Nature Communications.

The acquisition strategically aligns with tapping into this lucrative consumer base.

Oppenheimer Partners initially entered the GZI venture in 2018, coinciding with the establishment of a GZI factory in South Africa.

Presently, GZI holds a 20% market share in the South African market, engaging in competition with the financially challenged Nampak Ltd., which is in the process of selling assets and restructuring debt.

Affirma Capital’s initial investment in GZI dates back to 2012.

GZ Industries holds significant production capacity, churning out 3 billion aluminium cans annually in Africa. Out of its production figure, 1,800,000,000 of those cans are produced in Nigeria.

Headline

Indian Court Denies Bail To Nigerian Man Over Drug Charges

Published

4 hours ago

May 28, 2026

Editor

A court in India has denied bail to a 44-year-old Nigerian national, Cristian Soporuchukwu, who is currently facing drug trafficking charges in the country.

Cristian Soporuchukwu initially entered India on a business visa but was later arrested over allegations of involvement in the sale of hard drugs.

Reports indicated that after arriving in India, Soporuchukwu travelled through Goa, Delhi, and Mumbai, where he allegedly established links with suspected drug traffickers.

He was accused of purchasing MDMA crystals and distributing them to college students and information technology workers.

According to reports, operatives of the Beguru Police arrested Cristian Soporuchukwu in April 2025 for allegedly selling MDMA crystals around Begur Lake and the AECS Layout Road area.

The New Indian Express reported that the High Court of Karnataka subsequently dismissed the Nigerian’s bail application.

“The anti-narcotics wing seized about 1 kg of MDMA crystals, a pocket weighing machine, 10 zip-lock covers, a mobile phone and a scooter from him,” the report stated.

Justice V. Srishananda, while ruling on the bail application, reportedly held that errors relating to the grounds of arrest could not automatically justify bail in serious narcotics-related offences under the Narcotic Drugs and Psychotropic Substances, NDPS, Act.

The court further noted that Cristian Soporuchukwu had allegedly overstayed his visa in India, according to the report.

Headline

Strait Of Hormuz: US Announces Sanctions Against Iran

Published

4 hours ago

May 28, 2026

Editor

The United States Treasury has announced sanctions against Iran’s Persian Gulf Strait Authority.

Treasury Secretary, Scott Bessent, said this in a statement on Wednesday.

The statement extended the threat of sanctions to anyone paying the fees, saying they may be providing support to and receiving services from Iran’s Revolutionary Guards, and therefore may be exposed to sanctions risk.

“The Iranian military’s latest attempt to extort global maritime trade is proof that Economic Fury has left the regime desperate for cash.

“Treasury has deprived the Iranian regime of revenue for their weapons programs, terrorist proxies, and nuclear ambitions,” Bessent said.

Bessent added that the US has succeeded in disrupting tens of billions of dollars’ worth of revenue from being accessible to Tehran.

Headline

US Launches New Airstrikes On Iran

Published

4 hours ago

May 28, 2026

Editor

The United States has launched new airstrikes in southern Iran.

The strike shot down four one-way attack drones that posed a threat around the Strait of Hormuz and then a ground control site.

A US official revealed that American forces struck an Iranian ground control station in Bandar Abbas that was about to launch a fifth drone.

The official described the strikes as purely defensive, saying the US intended to maintain the ceasefire.

Report says this is the second time in three days that the US has carried out self-defense strikes against Iranian military targets in southern Iran.

Recall that on Monday the US carried out airstrikes against Iranian missile locations and boats that US Central Command said were preparing to launch mines in the Strait of Hormuz.