George Foreman, boxing legend and successful entrepreneur, passes away at 76
The Texas-born boxing legend died peacefully at a Houston hospital on Mar. 21, 2025, surrounded by loved ones.
BlackRock stock slide wipes $100 million off Adebayo Ogunlesi’s net worth
Adebayo Ogunlesi's fortune fell to $2.2 billion as BlackRock shares declined from $1,075 to $951.73 since Jan. 31.
Oyindamola Adeyemi: Nigerian businesswoman involved in the engineering of Dangote’s $23 billion refinery
She leads Still Earth Holdings, a Nigerian conglomerate with interests in construction, energy, finance, and hospitality, expanding across West Africa.
How Africa’s billionaires lost billions: 5 costly investment blunders
Even billionaires make costly mistakes—overleveraging, overexposure, disruption, misjudgment, and poor due diligence can erase fortunes in months.
Swedfund pours $16.3 million into African SMEs
This initiative focuses on supporting businesses across multiple sectors, ensuring they have the resources to grow sustainably.
Nigerian billionaire Femi Otedola’s FirstHoldCo raises $125 million in oversubscribed rights issue
Otedola, one of Africa’s billionaires since 2009, played a key role in guiding the group toward this milestone, reinforcing his influence in Nigeria’s financial sector.
Trustco’s debt to Namibia’s Van Rooyen family rises to $280 million
Trustco Group’s debt to Next Capital hit $280 million, boosting the Van Rooyen family’s financial control.
South African-born Billionaire Patrick Soon-Shiong loses $1.2 billion in a month
The decline has wiped out nearly all the gains he made in the first seven weeks of 2025.
Wale Tinubu’s Oando strikes deal for Nigeria’s biggest solar project after Caribbean win
The project, expected to play a key role in Nigeria’s shift toward sustainable energy, will be executed by Oando Clean Energy, the renewable energy unit of Oando Energy Resources.
Africa’s richest man Aliko Dangote’s refinery halts petroleum products sales in naira
The decision follows a major policy shift by NNPC, which scrapped the naira-for-crude oil swap deal just ten days ago.
Tony Elumelu’s UBA stake falls below $60 million
Elumelu faced a similar setback in 2024 when UBA’s 32.55% stock gain was erased by naira devaluation, cutting his stake’s value $17 million.
Ghanaian logistics tycoon McKorley donates food to 7,000 widows in Accra
Daniel McKorley’s latest donation comes at a time when soaring living costs have made it harder for many families to afford basic necessities.
Davido balances Afrobeats stardom with role in father’s billion-dollar power company
Away from the bright lights and sold-out arenas, Davido plays a key role in his family’s billion-dollar power company, Pacific Energy Company, a top player in Nigeria’s power sector.
South African billionaire Patrice Motsepe’s $160 million phosphate mine faces legal battle
The lawsuit challenges the decision to dismiss appeals against an offset exemption granted to Elandsfontein, which is 90 percent owned by ARM through Kropz Plc.
South African tycoon Mike Teke’s Seriti unveils new coal mine, 300 jobs to follow
With this new mine, Seriti cements its lead as the largest black-controlled coal producer while securing a stable, long-term coal supply for power stations.
Banking tycoon Idrissa Nassa expands Coris Bank to Gabon, strengthening African footprint
This move is part of the bank’s broader strategy to strengthen its position among Africa’s top financial institutions.