Nigerian banker Jim Ovia’s Zenith Bank invests in Niteon to boost digital export infrastructure
Zenith Bank’s decision to invest in Niteon underscores its dedication to fostering economic growth and innovation across Africa.
Egyptian tycoon Ahmed Ezz loses $422 million amid devaluation and share dip
Despite this significant downturn, Ezz remains a top figure in Egypt’s business landscape.
First Black female Fortune 500 CEO Ursula Burns makes $3.5 million from Uber
Since the start of the year, the market value of Burns’ stake in Uber has surged by $3.4 million, rising from $9.08 million to $12.48 million.
South African-born billionaire Patrick Soon-Shiong’s wealth surges above $11 billion
The surge in Soon-Shiong’s net worth in 2024 highlights the success of his investments, particularly in biotech firm ImmunityBio.
Led by Kenya’s richest families, NCBA secures $50-million loan from Proparco
The $50-million loan from Proparco represents a significant milestone for NCBA Group as it continues to drive sustainable economic growth and support SMEs in Kenya.
South Africa’s job crisis worsens as CEO Shameel Joosub leads Vodacom to cut 80 jobs
The decision to cut approximately 80 jobs has drawn criticism from organizations such as the Congress of South African Trade Unions (COSATU).
Egyptian billionaire Ahmed El-Sewedy’s firm chosen for Qatar cable project
The project entails the establishment of electricity supply to NFS project facilities, involving the design, engineering, procurement, and installation of two 400kV cables.
Moroccan Prime Minister Aziz Akhannouch’s wealth dips by $100 million in 5 weeks
The $100-million decline in Akhannouch’s net worth is primarily attributed to the revaluation of his holdings in Akwa Group.
Nigerian gas tycoon Julius Rone seeks investment for revolutionary FLNG project
The appeal for investment was made during a meeting between Rone’s management team at UTM Offshore and Felix Omatsola Ogbe, the executive secretary of NCDMB.
South African tycoon Adrian Gore loses $25.6 million from Discovery shares
Despite the setback, Gore remains a prominent figure on the JSE and retains his position as one of South Africa’s wealthiest individuals and leading business executives.
Cummins linked to Black executive Sharon Barner to invest $1 billion to bolster manufacturing presence
Cummins steams ahead with strong financials and executive leadership.
Egyptian billionaire Yasseen Mansour loses $12 million from Palm Hills stake
Despite this setback, Mansour remains a prominent figure in the African business scene. Forbes estimates his current net worth at $1.2 billion.
Aga Khan IV’s stake in Nairobi-based insurer nears $40 million
As investors renew their interest in Jubilee Holdings on the Nairobi Security Exchange, Aga Khan IV’s investment in the company continues to yield substantial gains.
Top Black CEO Marvin Ellison’s shares in Lowe’s reaches $55 million
The recent $4.31-million surge in Ellison’s stake in Lowe’s further cements Ellison’s position as one of America’s richest Black CEOs and one of the world’s leading executives.
Egyptian billionaire Samih Sawiris’ company to construct Africa’s largest skate park
Construction of Africa’s largest skate park is slated to commence later this year, with the grand opening scheduled for 2025.
African-American tech billionaire Alex Karp’s wealth surges $300 million in 3 weeks
Karp’s position among Black billionaires underscores the success of African-American entrepreneurs within the tech sector.