Although 2022 was a challenging year for numerous South Africans, the country’s billionaires are starting the new year with even more money in the bank.

Samsung remains the best-selling smartphone brand in the world, even if its year-on-year sales have taken a massive hit.

American firms have pledged billions of US dollars to projects across Africa in the ongoing US-Africa Leaders Summit. Visa plans to spend US$1 billion (R17 billion) across all 54 African countries, expanding its footprint and technology platforms in the next five years. Some of the money will go towards local strategic partnerships with governments, local financial institutions, mobile operators, FinTech, and merchants.

The US government is exploring ways of renewing a preferential trade programme that gives countries in sub-Saharan Africa preferential access to US markets, allowing them to export products tariff-free.

FTX Co-Founder Sam Bankman-Fried was accused by US regulators of carrying out a multi-year scheme to defraud investors.