Cereals company tied to Kenyan tycoon Ngugi Kiuna faces receivership over $28.6 million debt
The move reflects the growing financial strain on Kenyan businesses as economic pressures mount.
Billionaires Africa
Egyptian tycoon Yasmine Khamis’ Oriental Weavers to pay $21 million dividend
The decision to reward shareholders follows a year of strong earnings growth and sustained market expansion.
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.
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.
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.
America’s first Black female billionaire offloads luxury property for $2.23 million
This sale marks a shift in her hospitality portfolio as she moves on from the property after two decades.