Moi family’s Sosian Energy loses geothermal license in Kenya
The Moi family's energy company, Sosian Energy, faces setbacks as its geothermal project’s progress is halted amid growing scrutiny.
Waleed Zaki leads Egyptian real estate developer to $21 million profit in 2024
This strong performance came despite a decline in operating revenues, from $114.3 million to $98.64 million.
Burna Boy, Davido, others out earn South African counterparts in $10 billion Spotify royalty payout
Spotify reports that around 250 million user-created playlists now feature at least one Nigerian artist, while 220 million contain a South African.
MTN unfreezes $23 million as court rules against Cameroon's richest man
This is a major twist in the ongoing legal battle between Baba Ahmadou Danpullo and First National Bank (FNB), with MTN Cameroon caught in the middle.
Marvin Ellison, one of America’s Black executives, loses $21 million from Lowe’s stake
This decline follows earlier losses from Jan. 27 to Feb. 18, when his stake fell $12.44 million, from $200.78 million to $188.34 million.
Burkina Faso's richest man starts construction of Gabon's $370 million airport
EBOMAF has also been tapped to lead the development of Libreville 2 — a brand-new city designed for smart living and sustainable growth.
Arnaud Lagesse's Phoenix acquires $80 million stake in Seychelles Breweries from Diageo
The agreement strengthens the relationship between Diageo and Phoenix Beverages—a subsidiary of the Mauritius-based IBL Group.
Nassef Sawiris, Egypt’s richest person, relocates to Italy over tax changes in UK
The UK's abolition of the 200-year-old tax status prompted Sawiris, Africa's fourth-richest person with a $9 billion fortune, to reconsider his options.
The world’s Black female billionaires in 2025
These women are more than financial icons, they are leaders transforming industries, from media and fashion to cosmetics and luxury.
Ahmed Ezz’s stake in steel company nears $1 billion
This marks a rebound from the previous month, when his stake had fallen below $970 million, signaling a strong recovery in his financial position.
Mike Adenuga warns MTN-Airtel deal could harm fair competition in Nigeria
He warned that granting MTN additional spectrum could distort the market, reduce competition, and ultimately raise costs for consumers.
Nigerian billionaire Abdul Samad Rabiu to pocket $143 million dividend from BUA Foods
This dividend, which will be paid on September 25, is the lion’s share of the proposed N234 billion ($152.43 million) payout for the year.
Tullow Oil, backed by Samuel Dossou-Aworet, writes down Kenya assets by $145.4 million
This underscores growing doubts about whether the company can push its long-delayed Turkana oil project to commercial production.
Anas Sefrioui surpasses Akhannouch and Benjelloun to become Morocco's richest man
Anas Sefrioui returns to Africa’s billionaire list with a net worth of $1.7 billion, surpassing PM Akhannouch and banking tycoon Benjelloun.
Nicky Oppenheimer, South Africa’s second-richest man, loses $800 million
The recent dip means Oppenheimer has lost $250 million year-to-date, reversing the $550 million gain recorded just 38 days ago.
OpenAI raises $40 billion, two months after Ogunlesi joins board
The funding is part of OpenAI’s broader push toward artificial general intelligence (AGI).