World’s first Black billionaire Robert L. Johnson’s REIT hits $1.3 billion in revenue
RLJ Lodging Trust’s revenue hit $1.37 billion in 2024, but net income dropped 11.2% due to rising costs, despite strategic acquisitions and capital allocation.
Zimbabwe’s top 10 tech moguls
These are the leaders defining the country’s digital future.
Africa’s first Black billionaire Patrice Motsepe’s mining empire battles falling earnings
African Rainbow Minerals (ARM), led by Motsepe, forecasts a 55% drop in headline earnings on weaker iron ore prices.
Egyptian tycoon Ahmed El-Sewedy’s electric firm to build Hungary’s largest power plant in decades
This marks a significant step in Elsewedy Electric’s expansion into Europe, reinforcing its presence in the global energy infrastructure market.
Lowe’s sales drop to $83.7 billion in 2024 under Black executive Marvin Ellison
Net total sales totaled $83.67 billion, marking a 3.13% decline, though strong online and pro sales offer optimism amid ongoing challenges.
Nigerian billionaire Femi Otedola hosts Wizkid, Burna Boy in star-studded gathering
Beyond his social engagements, Otedola remains focused on leading two of Nigeria’s most influential companies.
Tech billionaire Alex Karp loses $1.8 billion, still U.S. third-richest Black person
This is tied to a slide in the market value of his 2.63 percent stake in Palantir, which has fallen from $7 billion to $5.3 billion.
Africa’s richest man slashes petrol prices in Nigeria by 13 percent in 2025
This aligns with Nigeria’s broader economic recovery efforts under President Bola Ahmed Tinubu and aims to ease financial pressure on consumers.
Top 10 richest pharmaceutical moguls in Africa
These industry giants have built pharmaceutical empires that generate billions in revenue while making healthcare more affordable and widely available.
U.S.-Nigerian telecom executive Sam Darwish’s stake in IHS gains nearly $6 million
The recent rally has driven Sam Darwish’s stake to nearly $50 million.
Glencore, led by South Africa’s Gary Nagle, wins $120 million payout in Nigerian LNG battle
The legal dispute underscores escalating tensions in global LNG markets, as suppliers and traders grapple with post-2022 contract enforcement challenges.
Nigerian cannabis mogul dismisses Trump’s $5 million ‘gold card’ as a hard sell for investors
Nigerian cannabis mogul Bassim Haidar doubts Trump’s proposed “gold card” visa will draw a surge of global investors, pointing to concerns over higher taxes.
Sibanye, led by South African tycoon Neal Froneman, exits $980 million lithium project
The company has communicated its decision to ioneer, which will now seek alternative pathways to advance the project.
Naguib Sawiris calls on Egypt’s President to reevaluate mega-projects amid dollar shortage
Sawiris cautioned that the ambitious projects require substantial foreign currency, straining Egypt’s economy.
South African exec. Duncan Wanblad-led Anglo American deepens ties with Botswana in diamond deal
De Beers secures a 25-year extension for Debswana’s mining licenses, reinforcing its leadership as Botswana rebalances its diamond trade strategy.
Nigerian energy magnate Austin Avuru’s Seplat targets 14 trillion cubic feet of gas from new assets
Seplat Energy targets 14 trillion cubic feet of gas to boost Nigeria’s energy security, expand crude output, and drive economic growth through strategic acquisitions.