Category: <span>Wealth</span>

Africa’s immense economic potential is being undermined by non-transparent resource-backed loans that complicate debt resolution and compromise countries’ future growth, African Development Bank President Akinwumi Adesina said on Thursday. “I think it’s time for us to have debt transparency accountability and make sure that this whole thing of these opaque natural resource-backed loans actually ends,...

Minister hails Bonkoungou’s Princess Sarah Clinic, a beacon of hope for Burkina Faso’s health sector Burkina Faso’s richest man Mahamadou Bonkoungou has further diversified his business portfolio with the inauguration of the Princess Sarah Clinic, a high-tech medical facility located in Ouaga 2000, a modern extension of the country’s capital city, Ouagadougou. The inauguration ceremony,...

Across three decades, Byron Allen has cemented himself as one of today’s biggest media moguls. The 62-year-old first got his big break in the entertainment industry at age 14 when he started out working in stand-up comedy, as previously shared by AFROTECH. By 1993, Allen founded what is known today as Allen Media Group.  The media and entertainment company...

Bernard Arnault lost his spot as the world’s second-richest person as a selloff in luxury stocks pushed his net worth below that of Amazon.com Inc.’s Jeff Bezos. Arnault is founder and chief executive officer of LVMH, the French luxury powerhouse that includes brands such as Louis Vuitton and Moet & Chandon. His wealth has fallen by $6.8...

The Renaissance World Tour may have come to an end this past Sunday in Kansas City, but it’s safe to call it a smashing success for Beyoncé. Live Nation has announced that the superstar’s global trek earned more than $579 million worldwide, with 2.7 million fans attending across 56 dates in 39 cities. The tour, produced by...

It’s great to have friends in high places with big bucks in order the move a social capital and make a difference in other people’s lives. Amazon founder Jeff Bezos and his fiancée Lauren Sanchez contributed a $10 million legacy donation to Jay-Z’s San Carter Foundation. Bezos was not alone to wash the foundation with...

Talk radio 702 Bongani Bingwa interviews Africa Report correspondent, Crystal Orderson (skip to 2:38). Africa’s first female billionaire and daughter of former Angolan president, Isabel dos Santos, has found herself in the hot seat…once again. According to a ruling by London’s High Court, dos Santos can be personally added to a $400 million lawsuit. This...

Former US President Barack Obama is not the type of guy who sits at home doing nothing, he gets his hands dirty by doing different projects to uplift and inspire ordinary people, to take action and better their lives.  Netflix recently released four part docu-series hosted and narrated by former POTUS, “explores the ways in...

Economists are fretting about a recession. Media stocks are in the toilet. Layoffs are being enacted monthly as a spirit of cut, cut, cut grips Hollywood and Silicon Valley. Oh, and screenwriters are on strike, while directors and actors are threatening to join them when their contracts expire next month.  But for the media moguls...

Pep Guardiola says the humility of his players makes reaching the Champions League final a fitting reward. City will face Inter Milan in the final on 10 June, but before that will look to secure the Premier League title against Chelsea on Sunday and then focus on the FA Cup final against Manchester United. “I...