Multiple financial developments have occurred across Africa’s tech ecosystem as 2025 comes to a close. Two African fintech startups, Optasia in South Africa and Cash Plus in Morocco, completed initial public offerings (IPOs) in November 2025, according to Max Cuvellier Giacomelli, co-founder of Africa: The Big Deal. In a Substack post, he further noted that these were the first major technology listings on the continent since 2019, before the COVID-19 pandemic. According to Business Insider Africa, Optasia was listed on the Johannesburg Stock Exchange on Nov. 4, raising $345 million and reaching a $1.4 billion valuation. The company, as its website states, offers AI-driven financial services delivered through mobile networks and digital channels across several markets: Africa, the Middle East, Asia, Europe, and Latin America. Three weeks later, on Nov. 25, Morocco’s Cash Plus went public on the Casablanca Stock Exchange. The company, as Giacomelli noted, raised $82.5 million in its...

Free agent Odell Beckham Jr. is speaking out after comments he made about managing a five-year, $100 million NFL contract ignited conversation online. The wide-ranging discussion began in October during an episode of “The Pivot Podcast,” where Beckham outlined why a contract of that size may not last as long as it appears once expenses are taken into account. The wide receiver, who was drafted No. 12 overall by the New York Giants in 2014, went on to play for the Cleveland Browns and Las Angeles Rams. Beckham last played for the Miami Dolphins before he became a free agent in 2024. According to Spotrac, his total career earnings sit at $102 million. His podcast remarks resurfaced this week and drew reactions from fans, commentators, and former players. On Tuesday, Dec. 2, Beckham posted a response to the attention on X. “Boy u can’t say nothin in this world nowadays, that’s why I been in my own lane my own world n put the way,” he wrote. “People love to take Shxt completely outta...

Former Miami Heat player Udonis Haslem is looking to put an FTX-related lawsuit behind him. Lawsuit Explained According to Yahoo! Sports, an $11 billion class action lawsuit was filed in Florida in November 2022 against FTX Founder Sam Bankman-Fried and a handful of celebrities, including Haslem, Stephen Curry, Naomi Osaka, Shaquille O’Neal, Tom Brady, and others who had promoted the cryptocurrency exchange company in ads and other marketing. Earlier that November, FTX filed for Chapter 11 bankruptcy protection and went defunct. Claims in the lawsuit said the defendants were promoting the exchange in a “fraudulent scheme” that was “designed to take advantage of unsophisticated investors from across the country, who utilize mobile apps to make their investments,” per AFROTECH™. O’Neal settled for $1.8 million without admitting wrongdoing back in June 2025. “We are pleased to have this matter behind us,” counsel for O’Neal said in a statement, according to CNBC. Haslem Reportedly...

Amazon employees are pushing back against the company’s AI-heavy pivot, accusing leadership of prioritizing AI investments over climate commitments and the human workforce. Thousands have signed an open letter to CEO Andy Jassy and senior leadership. The letter, published last week, has drawn more than 1,000 signatures from Amazon employees — who can sign anonymously while listing their roles — and over 2,000 people outside the company. “We, the undersigned Amazon employees, have serious concerns about this aggressive rollout during the global rise of authoritarianism and our most important years to reverse the climate crisis. We believe that the all-costs-justified, warp-speed approach to AI development will do staggering damage to democracy, to our jobs, and to the earth,” the letter states. “We’re the workers who develop, train, and use AI, so we have a responsibility to intervene.” In the letter, employees accused Amazon of “casting aside its climate goals to build AI,” noting...

The Prada Group finalized its $1.38 billion cash acquisition of Milan luxury fashion rival Versace on Dec. 2, 2025, after securing all regulatory approvals, The Associated Press (AP) reports . Prada — known for its minimalist aesthetic and use of unconventional materials — said the 47-year-old Versace label, famed for its maximalist aesthetic and sensual silhouettes, holds “significant untapped growth potential,” per AP. Donatella Versace, the brand’s artistic director and co-owner, celebrated the deal in an Instagram post that also honored her late brother, company founder Gianni Versace, on his birthday. “Today is your day and the day Versace joins the Prada family. I am thinking of the smile you would have had on your face,” Versace wrote.   View this post on Instagram   A post shared by Donatella Versace (@donatella_versace) First announced in April 2025, the highly anticipated deal is expected to help relaunch Versace’s fortunes. Capri Holdings, which also owns Michael Kors and...

Tracy Morgan finds fulfillment in his charity work. The actor and comedian recently told PEOPLE that through his partnership with the Edison, NJ–based Hackensack Meridian Health Foundation, he has donated more than $200,000 to provide food and support to 19,000 families. According to the foundation’s website, it raises funds for programs and services across the Hackensack Meridian Health network, helping modernize facilities, advance treatments, support research, train future physicians, and strengthen healthcare delivery in local communities. “It’s fun to get the love and support, but it’s better when you give it back,” Morgan said, according to PEOPLE. “That’s what I want to teach my children. More than a great education, I just want [Maven] and her brothers to be empathic.” Morgan, 57, told the outlet that his personal experiences, including a serious car crash in 2014, shaped his outlook on life. As AFROTECH™ previously reported, he was among several people injured in a...

Aliko Dangote, the richest Black man in the world, is looking to expand his business into India. In a recent conversation with Business Today’s Riddhima Bhatnagar, Dangote, the Nigerian billionaire industrialist, founder, and president of Dangote Group, explained why India has become a crucial partner in powering the next generation of large-scale projects for his company. Dangote’s Long Bet On India In the interview, Dangote discussed his relationship with India spans two decades, underpinning many of his most significant industrial ventures. “Our dealings with Indian companies actually go back to 2003,” he said, recalling the early expansion of his cement business. That partnership evolved into today’s megaprojects, including his refinery and petrochemical operations. He noted that companies such as Engineers India Ltd. (EIL) have been central to that growth. “We used EIL … and they did a very very great job,” he said. Dangote added that his refinery sourced over $2.5 billion...

It’s a family affair over at the Shaq Brand. Walking Away From Reebok As AFROTECH™ previously told you, Shaquille O’Neal had a multi-million-dollar shoe deal on the table from Reebok. However, he walked away from the deal in 1998 to launch an affordable shoe line in partnership with Walmart. This was prompted after a mother told him that his younger fans couldn’t afford his shoes being sold by Reebok . O’Neal recounts on “The Big Podcast” that he went to his mom in hopes she would counter what the woman had said. However, his mother not only agreed but she also reminded him about his hometown of Newark, NJ. “She’s like, ‘Remember, you ain’t never had no shoes that cost more than $40.’ So, I said to myself, ‘All right, I’m gonna start my own line.’ I called Reebok and said, ‘Hey, we’re not going to renew.’ I had like $50 million on the table. I had no idea what I was going to do. So, I was thinking about where do my people go. Walmart. Walmart is the best distribution in the world....

What began as unfamiliar territory for Haley Bryant has become her mission — to democratize access to venture capital through her work at Hustle Fund. The Boston native comes from a family of entrepreneurs. Her father worked at Bank of America in London and later launched an investment business and then a consultancy. She was inspired to bet on herself throughout her career by observing her father’s blueprint as well as that of other family members. Her mother owns a public policy consultancy, and her sister is a leader of Sick Sad Girlz Club, a community of more than 30,000 women with chronic illness. Bryant initially planned to become a journalist and attended the University of Virginia, earning a degree in media studies and communications by 2010. However, she was always drawn to technology, she says, which led her to Apple and its retail stores after college. She onboarded as an associate and, within four years, rose to senior manager, leading stores that were earning millions...

Starbucks will pay $38.9 million after New York City’s Department of Consumer and Worker Protection (DCWP) found the company violated fair work schedule laws over half a million times since 2021. New York Mayor Eric Adams and the DCWP announced the settlement in a news release on Monday, Dec. 1, 2025, calling it the largest worker protection payout in the city’s history. “It does not matter how big your business is or how much money your company makes, if you violate our workers’ rights, you will pay the price,” Adams said in a statement. “With this landmark settlement , we’ll put tens of millions of dollars back into the pockets of hard-working New Yorkers and reinforce every New Yorker’s right to a reliable schedule, full hours, and basic dignity.” DCWP launched its investigation in 2022 after receiving dozens of worker complaints at several Starbucks stores in the city. After uncovering “a pattern of systemic violations,” the agency expanded the probe to every Starbucks location...

HP Inc., like many tech companies, is restructuring its workforce as artificial intelligence becomes a larger part of its operations. The company plans to cut 4,000 to 6,000 jobs by the end of fiscal year 2028, according to a company press release. The reductions are part of a broader initiative to increase productivity, improve customer experiences, and drive innovation through AI adoption. HP said the layoffs will primarily affect employees in product development, internal operations, and customer support, according to CNN. The company expects the cuts to save nearly $1 billion by 2028. “Structural cost savings represent gross reductions in costs driven by operational efficiency, digital transformation, and portfolio optimization,” notes the press release. Workforce reductions are just one component of the plan, which also includes program consolidation, platform simplification, and other long-term productivity measures. This is not the first time HP has downsized. The company cut...

U.S. shoppers spent a record $11.8 billion online during Black Friday (Nov. 28), the annual shopping event held the day after Thanksgiving, according to Reuters. Per the outlet, Adobe Analytics reported a 9.1% jump in sales from 2024, driven in part by the rise of AI-powered shopping tools. This year, shoppers increasingly skipped crowded stores and instead used chatbots to compare prices and find discounts. Adobe Analytics, which tracks 1 trillion online retail visits, found that AI-driven traffic to U.S. retail sites surged 805% from last year, which was before tools like Walmart’s Sparky and Amazon’s Rufus had launched. “Consumers are using new tools to get to what they need faster,” said eMarketer analyst Suzy Davidkhanian, per Reuters. “Gift giving can be stressful, and LLMs (large language models) make the discovery process feel quicker and more guided.” LEGO sets, Pokémon cards, Nintendo Switch, PlayStation 5 consoles, Apple AirPods, and KitchenAid mixers were among the...

With Giving Tuesday underway, a New York-based nonprofit is calling for support of Black-owned small businesses and highlighting their impact on local economies. According to a press release, the African American Small Business Foundation Inc. is using the Dec. 2 observance to raise funds that will help minority-owned businesses navigate rising costs, shifting market conditions, and limited access to capital. Currently, the organization serves as a resource center for African American entrepreneurs seeking funding, training, and business connections across New York. The foundation reports that many Black-owned businesses continue to face challenges securing loans, grants, or investment funding. To address this, it connects entrepreneurs to micro-grants and loan programs, community financial institutions, credit-building tools, and capital-readiness training intended to support growth and hiring. Training and technical assistance are another key part of the foundation’s work. Through...

Miami Art Week, the international art fair held annually, returns to Miami Beach, FL, from Dec. 1-7, 2025. This year continues to highlight the importance of Black art , thanks in large part to efforts spearheaded by architect Neil Hall. At Art Basel in 2008, Hall noticed a lack of representation for Black art galleries and artists, according to the Miami Herald. “It astounded me because the diaspora has so much creativity all over the world, and I didn’t see it,” Hall said, per the Miami Herald. “I decided that it was not acceptable.” A few years later, Hall and several friends hosted a Black-centered art fair in an empty parking lot in the historically Black Overtown neighborhood, known as the Harlem of the South. That event would become Art Africa Miami, reports the Miami Herald. While Hall no longer presents Art Africa in Overtown, his efforts to elevate the Black art scene during Miami Art Week have inspired others to carry on the mission. Across Miami, Black curators continue...

Marvin Ellison ’s journey to becoming president, CEO, and chairman of Lowe’s began far from the boardroom. While attending the University of Memphis, he worked part-time at Target, earning $4.35 an hour, according to Fortune. “I was fortunate to land in a company that believed in developing people, and I just grinded it out for 15 years all the way up to a director level,” Ellison told Daymond John, the entrepreneur behind FUBU and an investor on “Shark Tank,” in a 2022 interview. That early experience shaped how Ellison approached his career, especially as someone who didn’t come from a traditional corporate pedigree. “I didn’t have an Ivy League education. I didn’t have any stellar international opportunities or stints on my resume. I’m competing against all of these exceptionally talented people on paper; I had to find a way to differentiate myself,” he shared in the interview. His strategy became simple but demanding: Take every tough assignment no one else wanted. “I’d take...