Late last year, a Klimt sold for the highest price ever paid for modern art at auction.

An outlier sure, but it wasn't a fluke. U.S. auction sales grew 23.1% in 2025. The $1-5mm segment even grew 40.8% YoY.

Meanwhile, Apollo’s chief economist Torsten Slok said to expect ‘zero in return in the S&P 500 over the coming decade.’

So, that's where it gets interesting.

Each environment is unique, but after dot-com, post war and contemporary art grew about 24% annually for a decade. After 2008, about 11% for 12 years.

It’s also had near-zero correlation with the S&P 500 since ‘95.*

Now, Masterworks lets you invest in shares of artworks featuring legends like Banksy, Basquiat, and Picasso.

Shares can sell quickly, but my subscribers can skip the waitlist:

Skip the waitlist

^{*Investing involves risk. Past performance is not indicative of future returns. See important Reg A disclosures at masterworks.com/cd.}

For decades, Africa's biggest economies have exported raw materials while relying on imports for many of the products they consume. In recent years, however, the continent has begun making bigger investments in local manufacturing, with projects like Dangote's 650,000-barrel-per-day refinery showing what is possible.

Dangote Group has now signed a $400 million equipment agreement with China's XCMG to support the refinery's expansion, with plans to increase its capacity from 650,000 to 1.4 million barrels per day.

If more projects like this succeed, they could reshape regional trade, strengthen local industries and give African businesses a bigger role in global supply chains.

Canada defeated South Africa 1-0 at the FIFA World Cup to reach the Round of 16 for the first time, ending Bafana Bafana's best-ever campaign at the tournament.

Before the match, Drake placed a $770,000 bet on Canada after a private exchange with South African DJ Black Coffee. The win earned the Canadian rapper a payout of just over $1 million, including about $231,000 in profit.

The result also added another chapter to Drake's long record of high-profile sports betting, following his unsuccessful World Cup final wager in 2022. Read more…

Chaka, the company behind Nigeria's first SEC-licensed digital brokerage, has a new name and bigger ambitions

#Featuredpost

Five years after launching to make investing more accessible, Chaka has rebranded as Hisa and introduced a new investment platform for retail investors across Africa.

The app offers access to local markets and ETFs, automated investing, after-hours trading, integrated market research and a simplified pricing model. Read more…

🇿🇦 Africa's richest man signs $400 million China equipment deal as refinery expansion targets 1.4 million bpd

Dangote Group has signed a $400 million equipment deal with China's XCMG to support the expansion of its Lagos refinery. T

he company plans to increase capacity from 650,000 to 1.4 million barrels per day within three years, strengthening Nigeria's role as a major supplier of refined petroleum products. Read more…

🇺🇸 US courts Mali, Niger and Burkina Faso as Russia expands Sahel footprint

The United States is rebuilding ties with Mali, Niger and Burkina Faso as Russia expands its military presence across the Sahel.

Washington is shifting its focus from democratic reforms to security cooperation, counterterrorism and economic interests, reflecting growing competition with Moscow in one of Africa's most resource-rich regions. Read more…

Top 10 African countries with the strongest currencies in June 2026

A strong currency helps African nations lower import costs for goods like petroleum and machinery, control inflation, and attract investors by reducing exchange rate risks. Recent gains in Ghana’s cedi and Zambia's currency are tied to better forex availability and copper trade.

Source: Forbes Calculator

🇿🇼 Zimbabwe billionaire Kudakwashe Tagwirei commits $1 million to evacuate citizens from South Africa

Zimbabwean billionaire Kudakwashe Tagwirei pledged $1 million to fund the emergency repatriation of up to 20,000 citizens from South Africa due to rising anti-immigrant tensions.

The donation, accepted by Zimbabwe's government, will finance buses to transport returnees to the Beitbridge border.

This comes as regional nations mobilize aid ahead of a June 30 anti-immigrant mobilization. Read more…

🇳🇬 Nigeria orders crackdown on petrol pricing as crude oil drops from $120 to $72/barrel

Nigeria has ordered its downstream petroleum regulator to stop fuel marketers from profiteering as global crude prices fell from $120 to around $72 a barrel.

Despite easing Middle East tensions, local pump prices remain unchanged under the deregulated market.

The directive urges enforcement of the Petroleum Industry Act to ensure fair pricing and accurate fuel quantities for consumers. Read more…

The African Development Bank (AfDB), the premier multilateral development finance institution on the continent, is officially headquartered in Abidjan, Côte d'Ivoire.

Founded in 1964 to spur economic development and social progress, the bank's location has a fascinating history of displacement due to regional geopolitics.

In 2003, following the outbreak of the First Ivorian Civil War, the AfDB temporarily relocated its entire headquarters and operations to Tunis, Tunisia. It operated out of Tunisia for over a decade before finally executing a massive logistical return to its original, official home in Abidjan in late 2013 and 2014.