Pick n Pay, backed by Ackerman family, shuts more stores across South Africa
The retailer has closed 32 additional stores across the country, signaling its effort to streamline operations and reduce losses.
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South African billionaire Douw Steyn passes away at 72
Douw Steyn, founder of Steyn City and owner of Saxon Hotel, dies at 72 after battling ongoing health issues.
Anglo American plans spin-off, 12 years after Oppenheimer family’s $5.2 billion De Beers exit
Anglo American plans to spin off De Beers by end of 2025, part of broader strategy to focus on high-growth commodities.
Egypt's wealthy Khamis family’s stake in Oriental Weavers rises $13.5 million
This turnaround comes after a strong rally in the company’s shares in recent weeks.
U.S. third-richest Black person Alex Karp’s Palantir delivers $2.9 billion revenue in 2024
Revenue for the twelve months of 2024 climbed to $2.87 billion, up from $2.23 billion in the prior year period.
Oil billionaire Indimi addresses $435 million dividend feud, says he bought daughters’ stakes for $10 million
He has also denied their accusations of intimidation, insisting they were not pressured into transferring their shares.
Nigerian billionaire Femi Otedola's net worth soars by $100 million to $1.7 billion amid naira's recovery
His $100 million gain comes after an impressive 2024, during which his net worth grew by $600 million
One of America’s richest Black executives leads Eaton to $24.9 billion sales in 2024
This was driven by robust organic sales, particularly within the company’s Electrical Americas, Electrical Global and Aerospace segments.
10 influential Ghanaian business moguls who are shaping Africa's future
Beyond their corporate success, many of these leaders are also driving social change through investments in education, healthcare, and infrastructure.
Hitesh Anadkat, one of Malawi's richest, sees FMB Capital stake surpass $410 million
Since the start of 2025, Anadkat’s 45.32 percent stake, which consists of 1,114,195,155 shares, has grown by $54.26 million.
Vodacom, led by South African exec. Shameel Joosub, extends deadline for $790 million Maziv deal
The deal, first disclosed on Nov. 10, 2021, has encountered multiple regulatory and transactional hurdles, leading to repeated extensions.
Nigerian pharma tycoon Fidelis Ayebae’s Fidson posts $3.41 million profit in 2024
This growth was driven by a surge in sales of ethical and OTC products, reinforcing Fidson’s position as a top player in Nigeria’s pharmaceutical industry.
Moroccan royal family’s bank holdings soar above $6.2 billion—what this means for their influence
As the value of the royal family’s stake continues to rise, so does its influence in the country’s financial sector.
Nigerian President Bola Tinubu’s nephew leads oil company to $2.7 billion revenue in 2024
This was driven by higher crude oil volumes, rising gas prices, and favorable exchange rate translations.
Africa’s richest man Aliko Dangote’s refinery cuts petrol price by 6 percent
The decision follows favorable shifts in the global energy market and a notable drop in international crude oil prices.
Noluthando Gosa-linked ArcelorMittal to halt steel operations amid $53.5 million rescue talks
This decision comes just 25 days after the company announced plans to wind down its Longs steel division, fueling speculation about government intervention.