OpenAI makes $1.1 billion acquisition as Nigerian billionaire Ogunlesi serves on board
OpenAI acquires Statsig for $1.1 billion, expanding product testing tools while Adebayo Ogunlesi brings boardroom influence.
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Africa's richest man Aliko Dangote's refinery sends first petrol cargo to U.S.
Dangote’s $20 billion refinery sent its first gasoline cargo to the U.S., marking Nigeria’s debut as a direct fuel exporter to America.
Invicta, backed by South African billionaire Christo Wiese, buys UK’s Spaldings Group for $16 million
Invicta Holdings, led by Christo Wiese, buys Spaldings Group for $16 million to strengthen its U.K. and European presence.
RCL, backed by South African billionaire Johann Rupert, posts $1.5 billion revenue
RCL Foods, backed by Johann Rupert, reports modest revenue growth with baking gains and steady groceries in 2025.
NICO, led by Malawian tycoon Vizenge Kumwenda, announces $3.6 million dividend
NICO Holdings, led by Vizenge Kumwenda, declared a $3.6 million interim dividend as profit forecasts for H1 2025 more than double.
Rihanna loses 41 percent of net worth since May 2022
Rihanna’s net worth falls 41 percent since May 2022, dropping from $1.7 billion to $1 billion amid challenges in her business ventures.
South African executive Gerald Van Wyk leads AfroCentric to $238 million revenue in H1 2025
AfroCentric reports $238 million revenue for H1 2025, driven by services growth despite weaker retail performance.
Glencore, led by Gary Nagle, may cut jobs at South African ferrochrome venture
Glencore, led by Gary Nagle, considers job cuts at its South African ferrochrome joint venture as rising costs and weak competitiveness put pressure on the business.
Africa’s richest man Aliko Dangote’s refinery sees surge in global fuel sales
The refinery has accelerated exports of petrol, diesel, and aviation fuel, filling a supply gap created by maintenance closures at Saudi Aramco and Kuwait facilities.
Moroccan billionaire Anas Sefrioui's stake in ADH surges above $1.2 billion
Moroccan billionaire Anas Sefrioui’s stake in Morocco’s ADH surpasses $1.2 billion as the property market shows signs of recovery.
Shoprite, backed by South African billionaire Christo Wiese, posts $14.3 billion revenue
Shoprite posted $14.3 billion in sales for 2025, lifted by strong demand in South Africa, Checkers growth and surging Sixty60 online orders.
Zimbabwean aviation mogul Patson Moyo buys Harare property for $30 million
Zimbabwean mogul Patson Moyo’s Transvaal Africa buys 418-hectare Harare estate for $30 million, eyeing cargo hub and airline launch despite legal dispute.
Motsepe-backed Harmony Gold wins shareholder approval for $1.03 billion Australian copper deal
Harmony Gold secures support in its $1.03 billion MAC Copper acquisition, expanding its global mining portfolio.
Meta joins Peter Ndegwa-led Safaricom on $23 million fiber project for East Africa
Meta teamed up with Safaricom to invest $23 million in an undersea cable linking Kenya to Oman, aiming to cut costs and boost internet access in East Africa.
Eswatini’s richest man Natie Kirsh loses $500 million in three months
Natie Kirsh loses $500 million in three months, bringing his wealth below $10 billion despite new business moves.
South African businesswoman Noluthando Gosa-linked ArcelorMittal SA to lay off 3,500 workers
ArcelorMittal SA, linked to Noluthando Gosa, to close its long steel division, risking 3,500 jobs amid rising costs and weak demand.