Nigerian businessman Dozy Mmobuosi faces 45-year sentence in US
If convicted on all charges, Mmobuosi risks serving a maximum sentence of 45 years.
Idrissa Nassa’s bank partners with Canadian firm in $100-million facility to back gold project
Nassa commended the collaborative efforts of the teams from West African Resources, Sprott, and Coris Bank.
Jay-Z’s wealth soars to $2.5 billion with $1.3-billion boost in 2023
The driving force behind Jay-Z’s remarkable financial growth was the sale of a 50-percent stake in the high-end cognac label, D’Usse, to Bacardi.
Mega-refinery of world’s richest Black billionaire welcomes fourth crude shipment
This delivery follows three previous shipments in December 2023.
Michael Jordan made $1.8 billion in 2023 thanks to Hornets sale
The primary driver behind the substantial increase in Jordan’s wealth was the sale of his controlling stake in the Charlotte Hornets, a professional basketball team.
South Africa’s richest man Johann Rupert rebounds strongly, gains $1.49 billion in 2023
The surge in Rupert’s fortune not only cements his position as one of Africa’s richest billionaires but also propels him to the top of South Africa’s wealth hierarchy.
David Steward soars past peers as Black billionaire with biggest wealth gain in 2023
The secret behind Steward’s financial success in 2023 lies in his stake in WWT, a closely held tech behemoth specializing in information services and hardware.
Africa’s first Black billionaire Patrice Motsepe lost $600 million in 2023
The decline in his net worth is closely tied to the sustained downturn in the market value of his 40.37-percent stake in African Rainbow Minerals (ARM).
Egyptian billionaire El-Sewedy family’s inks $300-million deal for agricultural food complex
This latest venture with MAFI comes shortly after Elsewedy Electric announced plans to launch a multimillion-dollar industrial city project in Tanzania.
Simone Biles shines as world’s greatest gymnast, banking $7.1 million in 2023
At the world championships in Belgium, Biles won gold in the all-around competition, making her the most decorated gymnast, male or female.
Johann Rupert reemerges as Africa’s richest man in latest Forbes ranking
While Forbes positions Rupert as the richest man in Africa, with a net worth of $10.2 billion, Bloomberg’s estimations paint a different picture.
Kanye West issues apology for anti-Semitic comments following $1.6-billion wipe-out
In October 2022, West faced backlash on social media as Instagram, owned by Meta Platforms Inc., and Twitter, now X, removed anti-Semitic posts from his accounts.
Pierre Guy Noel, iconic leader and former CEO of biggest bank in Mauritius, dies at 67
Noel’s passing comes over two years after his retirement as the CEO of MCB Group.
Africa’s richest man Aliko Dangote faces $3.6-billion loss amid naira devaluation
This is attributed to the Central Bank of Nigeria’s decision to unify the country’s multiple exchange rates, introducing the FX-managed float system for rate unification.
South African business executive Neal Froneman gains $3.4 million in 36 days
Sibanye-Stillwater has experienced a remarkable surge in recent months.
Nigerian tycoon Emeka Onwuka pockets $1.5-million salary from Seplat in 2022
Onwuka, the CFO of Seplat Energy, experienced a substantial 7.78-percent increase in his 2022 compensation, reaching $1.55 million.