The recent acquisition of a substantial stake in Seplat Energy by Tony Elumelu has raised important questions about the future of the company and its role in the energy sector. Elumelu, a prominent Nigerian entrepreneur and the founder of Heirs Holdings, was appointed as a non-executive director of Seplat Energy following his company’s acquisition of a 20.07% stake for $496 million. This move not only positions Elumelu as a significant shareholder but also as the largest stakeholder in Seplat, surpassing institutional investors.

Seplat Energy, a leading independent oil and gas company in Nigeria, boasts impressive 2P reserves of 1.043 billion barrels of oil equivalent as of December 2024. The company also has a working interest production rate of 135,600 barrels of oil equivalent per day. These figures highlight Seplat’s potential for growth and profitability, making it an attractive investment for Elumelu and others in the energy sector.

The acquisition comes at a time when Seplat is navigating a complex landscape in the oil and gas industry. Olivier Cleret de Langavant, a member of the Seplat board, resigned following the sale of shares to Heirs Holdings, indicating potential shifts in governance and strategic direction. Elumelu’s involvement could signal a new phase for Seplat, as he brings a wealth of experience in managing investments and driving growth in various sectors.

Elumelu’s business philosophy, centered around the concept of Africapitalism, emphasizes the importance of private sector investment in driving economic growth and development in Africa. His leadership at Heirs Holdings has been marked by strategic investments across various industries, including energy, financial services, and healthcare. This philosophy aligns with the objectives of Seplat Energy, which aims to enhance Nigeria’s energy landscape while contributing to the country’s economic development.

As Elumelu steps into his role as a non-executive director, stakeholders will be keenly observing how his vision and strategies will influence Seplat’s operations and future projects. The energy sector in Nigeria is at a critical juncture, with increasing demand for energy and a need for sustainable practices. Elumelu’s expertise could play a pivotal role in steering Seplat towards innovative solutions that address these challenges.

Looking ahead, the implications of Elumelu’s investment in Seplat Energy could be significant. The energy sector is witnessing a shift towards cleaner and more sustainable energy sources, and companies like Seplat will need to adapt to remain competitive. Elumelu’s involvement may accelerate this transition, as he advocates for responsible investment and sustainable practices.

Details remain unconfirmed regarding the specific strategies that Elumelu plans to implement at Seplat. However, his track record suggests a focus on growth and innovation, which could lead to new opportunities for the company and its stakeholders. As the energy landscape continues to evolve, the role of influential figures like Tony Elumelu will be crucial in shaping the future of the sector.

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Moniepoint, a prominent payments infrastructure provider, has been steadily expanding its product offerings to better serve the needs of businesses in Nigeria. As the food service market in Nigeria is projected to reach $12.37 billion by 2026, the demand for efficient management solutions has never been higher. This backdrop sets the stage for Moniepoint’s recent acquisition of Orda, a cloud-based restaurant management platform.

The acquisition, announced on March 23, 2026, marks a significant step for Moniepoint as it seeks to integrate Orda’s capabilities into its existing suite of services. Orda, which was founded in 2020 and raised $4.5 million in seed funding in 2022, has established a solid reputation in the restaurant management space, particularly in Nigeria and Kenya. However, the acquisition will only cover Orda’s operations in Nigeria.

As part of the deal, Orda will be rebranded as Moniebook for Restaurants, reflecting its new identity within the Moniepoint ecosystem. This integration aims to embed payment solutions directly into the daily operations of restaurants, thereby reducing reliance on manual processes. Guy Futi, a spokesperson for Moniepoint, emphasized the importance of this transition, stating, “To truly transform the industry, we needed to connect that expertise with comprehensive financial infrastructure.”

With Moniepoint processing over $250 billion in digital payment transactions annually and serving more than 20 million businesses and individuals, the acquisition is poised to enhance the operational efficiency of restaurants across Nigeria. The integration of Orda’s platform is expected to provide restaurant owners with a seamless experience, ensuring that they can focus on their core business without disruptions. Futi assured customers, “For our customers, we are assuring a smooth transition with no disruption to the platform and retained access to the support you are used to.”

As the food service industry in Africa is valued at about $50 billion, the strategic move by Moniepoint to acquire Orda aligns with the growing trend of digital transformation in the sector. The food industry is not just about feeding people; it is a major source of jobs and daily survival for many Africans, as highlighted by Tosin Eniolorunda, another key figure in the industry.

Details regarding the financial terms of the acquisition have not been disclosed, but it has been confirmed that approximately 25 members of Orda’s team will join Moniepoint as part of this transition. This infusion of talent is expected to bolster Moniepoint’s capabilities in the restaurant management domain.

Looking ahead, observers anticipate that this acquisition will not only streamline operations for restaurant owners but also enhance customer experiences through improved payment solutions. As Moniepoint continues to innovate and expand its offerings, the integration of Orda’s technology could set a new standard for restaurant management in Nigeria, paving the way for further growth in the food service market.

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Leonid Radvinsky, a prominent figure in the digital content industry and majority stakeholder of OnlyFans, has died at the age of 43 after battling cancer. His death marks a significant moment for the platform, which has transformed how creators monetize their content since its inception.

Radvinsky acquired a majority stake in OnlyFans in 2018, contributing to its rapid growth. The platform, founded in 2016 by British entrepreneurs Guy and Tim Stokely, has become a household name, especially in the adult content sector, boasting over 4.6 million creators and approximately 377 million users globally.

In 2024, OnlyFans recorded impressive revenue figures, totaling $1.4 billion. Radvinsky’s financial involvement with the platform was substantial; he reportedly received about $1.8 billion in dividends between 2021 and early 2025. At the time of his death, his net worth was estimated at approximately $4.7 billion.

Before his passing, Radvinsky was reportedly in discussions to sell a 60% stake in OnlyFans, a move that could have reshaped the company’s future. He had previously transferred his ownership stake into a trust in 2024, indicating his forward-thinking approach to business.

OnlyFans operates on a commission model, taking a 20% cut from most creator earnings, which has allowed it to thrive financially while providing a platform for creators to connect with their audiences directly.

The spokesperson for OnlyFans expressed deep sadness over Radvinsky’s passing, stating, “We are deeply saddened to announce the death of Leo Radvinsky. Leo passed away peacefully after a long battle with cancer.” They also emphasized that his family has requested privacy during this difficult time.

Radvinsky’s legacy is closely tied to the rapid rise of OnlyFans, a platform that redefined how digital content, particularly adult material, is created, distributed, and monetized globally. His contributions to the industry will be remembered as pivotal in shaping the future of content creation.

As the company moves forward, observers are keen to see how Radvinsky’s absence will impact OnlyFans and its ongoing operations. The discussions regarding the sale of his stake may continue, with potential implications for the platform’s direction.

Details remain unconfirmed regarding the immediate future of OnlyFans and any changes that may arise from Radvinsky’s passing.

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Nkosana Makate’s legal victory over Vodacom has significant implications for intellectual property rights in South Africa. Makate, who invented the “Please Call Me” service, has received a substantial payout following years of legal disputes, highlighting the importance of rewarding innovation.

The Legal Journey

In 2022, the Constitutional Court of South Africa ruled in favor of Makate, allowing him to claim his share of the profits from the service he created in 2000. The decision underscored the necessity of fair compensation for inventors, especially in the telecommunications sector. Vodacom had initially offered a mere R47 million in settlement, which Makate deemed insufficient for an idea that it transformed into a multi-billion rand service.

Payout Details and Reactions

The payout announced earlier this month amounts to R2.3 billion. This has not only secured financial stability for Makate but has also sparked discussions among entrepreneurs and innovators regarding the protection of their intellectual property. Various industry experts view this case as a landmark victory that could inspire other inventors to stand up for their rights.

Broader Implications for Intellectual Property

This ruling may set a precedent for future cases in South Africa, encouraging companies to reassess how they deal with employee innovations. The nature of the agreement between Makate and Vodacom going forward will be watched closely, as it may influence how similar cases are handled in other sectors.

Conclusion

The outcome of Nkosana Makate’s case against Vodacom is more than just a financial victory; it is a significant win for inventors in South Africa. It emphasizes the need for businesses to acknowledge and fairly compensate the contributions of their employees. As discussions around intellectual property rights continue, this case could herald a new era of accountability and recognition for innovations across various industries.

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