At the 2025 FORBES WOMAN AFRICA Awards, held as a glittering gala at the SunBet Arena in Pretoria on Wednesday, March 5, Dr Ngozi Okonjo-Iweala, Director-General of the World Trade Organization (WTO), took home the 2025 FORBES WOMAN AFRICA Lifetime Achievement Award, while the 2025 FORBES WOMAN AFRICA Changemaker of the Decade Award was awarded to Arunma Oteh, Chairperson of the 124-year-old Royal African Society.



Known for her illustrious career on the continent and globally, Oteh also holds the position of Executive Residence &amp; Member, Global Leadership Council at the Said Business School, University of Oxford. She was previously Vice President and Treasurer of the World Bank, and Director-General of the Securities and Exchange Commission (SEC) in Nigeria.



“The award reminds me of strong women who have paved the way for others and continue to inspire me, including past awardees and my big sisters, Her Excellency Ellen Johnson Sirleaf, Her Excellency Graça Machel and Madam Nkosazana Dlamini-Zuma,” Okonjo-Iweala said in her recorded acceptance speech.


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In 2021, Okonjo-Iweala became the first woman and first African to take on the role of Director-General at the WTO. A global finance expert, economist and international development professional with over 40 years of experience working in Asia, Africa, Europe, Latin America and North America, she noted in her acceptance speech that young African women inspire her.



“While I&#8217;m proud [to be the first woman and African DG], I always have mixed feelings,” she said. “I always feel there should have been a woman prior and an African, why not? But that being said, I&#8217;m happy that I&#8217;ve been able to break that glass ceiling, and I&#8217;m glad that, as many of us continue to break glass ceilings, young African women will hopefully no longer face as many barriers as those who came before them. I have to say that young African women inspire me.”



The FORBES WOMAN AFRICA Awards uncovers some of Africa’s biggest and brightest personalities who have used the power of their stories to change the discourse of development on the continent.



One of the winners on the night was ‘the Queen of Afrobeats’, Tiwa Savage, who walked home with the 2025 FORBES WOMAN AFRICA Media Icon Award. Savage, whose digital cover was revealed during the FORBES WOMAN AFRICA Leading Women Summit earlier in the day, is known for her unique blend of Afrobeats, R&amp;B, soul and pop.



“I think a lot of times when people think of music, they think of just being an artist,” she explained in her interview with FORBES AFRICA. “But there are so many aspects to the industry. I want to build a school or scholarship program that teaches that.”



Among the award-winners on the night was 12-year-old Eniola Shokunbi who took home the 2025 FORBES WOMAN AFRICA Young Achiever Award. A children’s health advocate and innovator, born in the U.S., and of Nigerian descent, she has been honored by the Martin Luther King Jr. Foundation and is already known for her fight for cleaner air and the installation of air filters in classrooms around the world.



Hephzibah Akinwale, also 12 years old, is a world record-holder for the longest fiction novel written by a child author at the age of 10, in September 2023, with her book, Chronicles of the Time Keepers: Whisked Away, featuring over 58,000 words. On Wednesday, Akinwale won the 2025 FORBES WOMAN AFRICA Next Generation Award.



South Africa’s Minnie Dlamini was handed the 2025 FORBES WOMAN AFRICA Excellence in Entertainment Award as an entrepreneur behind the lens in South Africa’s entertainment industry. As



an actor, Executive Producer, and TV host, she has over 9.3 million followers both on Instagram and Twitter. Featured as FORBES AFRICA’s digital cover as part of the magazine’s second annual ‘Over 30 Under 50’ list, Dlamini said: “I don’t think I would have been able to handle everything that I’ve handled – good and bad – all the opportunities, the resources that have been afforded to me, the resources that I’ve gone out and gotten myself, had I been younger,” Dlamini said. “[I] needed to go through life, to be older, and to be this 34-year-old woman so that I can fully embrace everything that’s coming my way.”



Other winners of the star-studded event included Kenyan environmentalist Wanjira Mathai who won the 2025 FORBES WOMAN AFRICA Social Impact Award, while FORBES AFRICA 30 under 30 list-maker Jessica Mshama took home the 2025 FORBES WOMAN AFRICA Technology &amp; Innovation Award.



Nissi Ogulu won the 2025 FORBES WOMAN AFRICA Youth Icon Award for her work as a musician, visual artist, and entrepreneur. Dr Adriana Marais, the Director of the Foundation for Space Development Africa and Head of Science for the Foundation’s Africa2Moon Project, received the 2025 FORBES WOMAN AFRICA Academic Excellence Award.



The 2025 FORBES WOMAN AFRICA Champion of Change Award went to Dr Glenda Gray, who was the first female President and CEO of the South African Medical Research Council, leading the Council for 10 years in this role.



The 2025 FORBES WOMAN AFRICA Businesswoman Award was awarded to Rita Zwane, Founder of Imbizo Shisanyama Busy Corner in South Africa. The face of women’s football in Africa, Sue Destombes was handed the 2025 FORBES WOMAN AFRICA Sports Award. Her game-changing 30-year career in football has taken her across the continent and to AFCON and CHAN competitions since 2006.



To receive the inaugural 2025 FORBES WOMAN AFRICA Visionary Ally Award, former NBA star Luol Deng walked up on stage for his leadership and community work using his platform to promote and support women’s empowerment.



Kenyan actor Sarah Hassan took home the 2025 FORBES WOMAN AFRICA Entertainer of the Year Award. Hassan is a multi-award-winning actor, producer, and TV host. The 2025 FORBES WOMAN AFRICA Champion of Entertainment Promotion was awarded to celebrity talent manager, Tholsi Pillay. This year, she celebrates a major milestone as her client, Wouter Kellerman, won his third Grammy Award, solidifying his position as a global music icon.



“I have to say that young African women inspire me,” Okonjo-Iweala said. “I see so many of them doing such wonderful things fearlessly, and it gives me a lot of hope. They will take on roles that we have now and more roles we don&#8217;t even know about, and they&#8217;ll do it fearlessly and succeed in ways that we before them never even thought of succeeding.”



The FORBES WOMAN AFRICA Awards were held as part of the 10th edition of the FORBES WOMAN AFRICA Leading Women Summit on March 5.

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Dr Ngozi Okonjo-Iweala and Arunma Oteh Win Big At Star-Studded 2025 FORBES WOMAN AFRICA Awards In Pretoria

<h2 class="wp-block-heading" id="h-topline">Topline</h2>



Ukrainian President Volodymyr Zelenskyy said in a statement posted on social media he and Ukraine are still committed to working with President Donald Trump and “it is time to make things right,” one day after Trump announced a pause on military aid to Ukraine after Zelenskyy’s contentious visit to the White House.



<h2 class="wp-block-heading" id="h-key-facts">Key Facts</h2>



Zelenskyy said in the X&nbsp;<a href="https://x.com/ZelenskyyUa/status/1896948147085049916" rel="noreferrer noopener" target="_blank">statement</a>&nbsp;Ukraine does not want “an endless war” and is ready to “come to the negotiating table as soon as possible to bring lasting peace closer.”



Zelenskyy’s statement was posted just before 11 a.m. EST Tuesday, less than one day after Trump&nbsp;<a href="https://www.forbes.com/sites/mollybohannon/2025/03/04/trump-freezes-ukraine-aid-after-confrontation-with-zelenskyy/">ordered a pause</a>&nbsp;on all military aid for Ukraine amid its ongoing war with Russia until he felt Ukraine’s leaders “demonstrate a good-faith commitment to peace,”&nbsp;<a href="https://www.bloomberg.com/news/articles/2025-03-03/trump-pauses-military-aid-to-ukraine-after-clash-with-zelenskiy?srnd=homepage-americas" rel="noreferrer noopener" target="_blank">Bloomberg</a>&nbsp;reported.



The pause in aid came days after Zelenskyy, Trump and Vice President JD Vance had a&nbsp;<a href="https://www.forbes.com/sites/mollybohannon/2025/02/28/trump-zelenskyy-vance-face-off-in-oval-office-shouting-match-heres-everything-they-said/">heated exchange</a>&nbsp;in the Oval Office in which American leadership criticized Zelenskyy for a lack of gratitude and Trump threatened he was “gambling with World War III.”



<h2 class="wp-block-heading" id="h-crucial-quote">Crucial Quote</h2>



“Our meeting in Washington, at the White House on Friday, did not go the way it was supposed to be,” Zelenskyy said in the statement. “It is regrettable that it happened this way. It is time to make things right. We would like future cooperation and communication to be constructive.”



<h2 class="wp-block-heading" id="h-big-number">Big Number</h2>



$66.5 billion. That’s about how much&nbsp;<a href="https://www.state.gov/bureau-of-political-military-affairs/releases/2025/01/u-s-security-cooperation-with-ukraine#:~:text=To%20date%2C%20we%20have%20provided,invasion%20of%20Ukraine%20in%202014." rel="noreferrer noopener" target="_blank">U.S. aid</a>&nbsp;and military assistance has been sent to Ukraine since its war with Russia began in February 2022.



<h2 class="wp-block-heading" id="h-key-background">Key Background</h2>



Russia invaded Ukraine more than three years ago and the countries have been warring since, with the U.S. and European countries largely backing Ukraine against President Vladimir Putin’s Russia. But Trump was critical of former President Joe Biden’s support of Ukraine, and regularly said throughout his presidential campaign the war would not have begun had he been president at the time Russia invaded Ukraine. Trump&nbsp;<a href="https://www.forbes.com/sites/tylerroush/2025/02/28/trump-threatens-zelensky-during-tense-live-meeting-make-a-deal-or-were-out/">met with Zelenskyy</a>&nbsp;last week in the White House for the signing of a minerals deal that would see Ukraine put some proceeds from its state-owned mineral resources to a jointly owned fund with the U.S. as a way to pay the U.S. back for its support during the war, but the meeting devolved into a shouting match in which Trump&nbsp;<a href="https://www.forbes.com/sites/mollybohannon/2025/02/28/trump-zelenskyy-vance-face-off-in-oval-office-shouting-match-heres-everything-they-said/">told</a>&nbsp;Zelenskyy he and Ukraine “don’t have the cards” to beat Russia without U.S. support. Zelenskyy left the White House without signing the deal, and the meeting drew criticism from Democrats who&nbsp;<a href="https://x.com/atrupar/status/1895593439854547343" rel="noreferrer noopener" target="_blank">said</a>&nbsp;Trump’s behavior made the U.S. look weak.



<h2 class="wp-block-heading" id="h-tangent">Tangent</h2>



After the meeting between Zelenskyy and Trump, European leaders announced increased efforts to support Ukraine and end the war with Russia. U.K. Prime Minister Keir Starmer said the U.K., France and other countries were committed to keeping aid flowing to Ukraine, finding a path to lasting peace and developing a “coalition of the willing” to defend Ukraine, the&nbsp;<a href="https://www.bbc.com/news/articles/c9vygkzkkrvo" rel="noreferrer noopener" target="_blank">BBC</a>&nbsp;reported. Starmer also&nbsp;<a href="https://apnews.com/article/ukraine-britain-zelenskyy-europe-starmer-trump-russia-b980170ead74a1a7914c565f14ee6cc9" rel="noreferrer noopener" target="_blank">pledged</a>&nbsp;$2 billion to Ukraine to fund defense missiles.



<h2 class="wp-block-heading" id="h-what-to-watch-for">What To Watch For</h2>



Trump’s response to Zelenskyy’s statement.



<h2 class="wp-block-heading" id="h-further-reading">Further Reading</h2>



<a href="https://www.forbes.com/sites/mollybohannon/2025/03/04/trump-freezes-ukraine-aid-after-confrontation-with-zelenskyy/">Trump Freezes Ukraine Aid After Confrontation With Zelenskyy</a>&nbsp;(Forbes)



<a href="https://www.forbes.com/sites/mollybohannon/2025/02/28/trump-zelenskyy-vance-face-off-in-oval-office-shouting-match-heres-everything-they-said/">Trump, Zelenskyy, Vance Face Off In Oval Office Shouting Match—Here’s Everything They Said</a>&nbsp;(Forbes)



<a href="https://www.forbes.com/sites/tylerroush/2025/02/28/trump-threatens-zelensky-during-tense-live-meeting-make-a-deal-or-were-out/">Trump-Zelenskyy Talks End Early After Trump Threatens Him In Tense Live Meeting: ‘Make A Deal Or We’re Out’</a>&nbsp;(Forbes)

President Trump Hosts Ukrainian President Zelensky At The White House

Zelenskyy Wants To ‘Make Things Right’ As U.S. Cuts Off Assistance

Nigerian singer, songwriter and actor, Tiwa Savage is determined to build an empire that will cement her status among the world’s self-made billionaire women.



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“I want to go into my mogul era – billionaire Tiwa Savage.”
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Tiwatope Omolara Savage, professionally known as Tiwa Savage, at the age of 45, is standing on the precipice of her next great reinvention. Her contemporaries have shown Savage the path. Now, she is ready to chart her own.



It is a journey that has been decades in the making, and one that began in London, where a teenage Savage discovered a love for performing during drama classes.



“When I was in school, there are basic subjects like math, English, and there are also electives like sports, drama, music – I chose drama and just even from earlier on, I knew that I had a gift for acting. Even when I started my music career, I knew, at some point, I was going to go back into that field,” she recalls to FORBES AFRICA via a Zoom call on a warm afternoon from her home in Lagos, Nigeria.



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“Why are we trying to break into another market? We should build our own to be the one others try to break into.”
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That passion never faded, even as music took center stage in her life. From her music videos to the depth in her lyrics, she was never content with just one avenue of expression.



For those who followed Savage from her 2010 breakout hit, Kele Kele Love to the global collaborations that she’s done in the present, this new chapter feels like a natural progression.



Her work seems to transcend genre and medium. Somebody’s Son, her duet with American singer Brandy Norwood, showcased her vocal prowess. Ife with Nigerian Fuji legend, Wasiu ‘Pasuma’ Odetola proved she could pivot effortlessly across cultures and sounds.



“Growing up in Nigeria, then moving to the United Kingdom and studying jazz in America, I absorbed different musical influences,” she explains.



“I can do a jazz record, a garage song, or an Afrobeats track, and it all feels authentic. I have lived these experiences.”



This authenticity is why her music has earned her historical accolades: the first African woman to sell out London’s Indigo at The O2, the first African woman to win Best African Act at the MTV Europe Music Awards, and a performer at King Charles III’s coronation concert.



As noted, her transition to film was inevitable. As the executive producer of Water and Garri, released in 2024, she found herself immersed in the filmmaking process, drawn to the meticulous nature of the craft.



“It was a lot of work, but there are similarities to music,” she says, as she adjusts her black Dior glasses and leans into the camera.



“I am used to repeating melodies until they are perfect. Watching scenes over and over, making corrections — it was not frustrating. It was exciting.”



Edward Israel-Ayide, an industry insider in the early days of Savage’s career, describes her as a ‘transformer’.



“What stands out is not just her success but how she has consistently adapted and evolved at every turn, emerging stronger from every challenge to become the industry’s ultimate comeback queen.”



He continues, stating that “she understood early on that being an artist in Africa meant being more than just a musician. You had to be a brand, a business, a movement”.



What is remarkable about Tiwa’s journey is how she has managed to stay relevant through every phase of the industry’s growth. From those early networking events to becoming a social media force with 35 million followers, from her first Nigerian stage performance at Industry Nite to co-producing Water and Garrí for Prime Video, she has consistently pushed beyond what we thought was possible for an African artist,” adds Israel-Ayide.



Now, Savage is thinking bigger. Her ambitions extend far beyond entertainment. “I want to go into my mogul era – billionaire Tiwa Savage,” she says with conviction.



The blueprint is clear—skincare, fashion, philanthropy, and, most significantly, education. Savage envisions a music school that does not just produce artists but also nurtures industry professionals, such as songwriters, producers, music therapists, and lawyers.



“I think a lot of times when people think of music, they think of just being an artist,” she explains. “But there are so many aspects to the industry. I want to build a school or scholarship program that teaches that.”



Even as she dreams of reshaping the industry, she remains as candid as ever: “Everyone always says to me, ‘when are you going to sign an artist?’ I don&#8217;t think I have the gift to sign another artist, because artists are stressful… I could just be sleeping, and then I will wake up and my artist is trending for something else”.



“But I do have the gift to help, which is why I am trying to do the music school, where you can go and later sign to a label that can actually help you,’’ she explains.



Ownership is another pillar of her vision. Afrobeats is no longer a niche genre; it is a global movement. As its influence grows, so does the need for African artists to retain control.



“We need to own our art, our publishing, our labels,” she says. “We need to tell our own stories.”



Chude Jideonwo, a media entrepreneur whose 25-year career spans advertising, public relations, television, radio, print, and digital media, echoes this sentiment.



“When it comes to contemporary people, Africa has so many incredible people – Tiwa Savage started her new career when she was in her 40s. There are so many stories from inside the belly of Africa that we have not told in a way that is accessible to the mainstream for the everyday young people.”



Savage has a radical dream: to see Africa become a mainstream music market. “Why are we trying to break into another market? We should build our own to be the one others try to break into,” she states. “If we had the right infrastructure, affordable data, and investment, we would not have to chase validation elsewhere.”



It is an audacious vision, but Savage has never been one to shrink from a challenge. From navigating a male-dominated industry to defining Afrobeats on her own terms, she has always played the long game. Now, as she prepares for her next act, she is more certain than ever of her purpose.



“Cherish the beginning,” she advises emerging artists. “A lot of artists rush to the top, but once you are there, you face pressures — streams, concerts, obligations. When you start, you are free to create without limitations. Build a strong foundation, so when opinions come at you, you do not lose yourself.”



With her fifth studio album, This One Is Personal, set for release early this summer, Savage doesn’t seem to be slowing down, professionally. But, she has contemplated modifying her pace.



“Not retirement, per se,” she corrects, laughing. “But sometimes the pressure gets to you. That is why having a strong team is important. Plus, let us be real, I need to keep making money. I do not know how to do anything else.”



“I really want to delve into my philanthropy. I want to start different NGOs [non-governmental organizations] to help women, to help young girls.’’



Savage is no longer just a music icon. She is an architect of the future — one where African music, business, and culture are not just global but dominant. The ‘Queen of Afrobeats’ is ready to claim her crown as the ‘Queen of Industry’.

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The Queen Of Afrobeats Is Powering Ahead, Driven By Purpose And Passion

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The 2nd Annual Over 30 Under 50 List: The Power Women Redefining Success

Our smartest technology just might be accelerating environmental challenges rather than solving them.



If you&#8217;re finding that you’re using generative artificial intelligence (GenAI) more and more to search for things online, you’re not alone. There are a growing number of people who are ditching traditional search engines like Google for large language model (LLM) chatbots like OpenAI’s ChatGPT and Anthropic’s Claude. And it makes a lot of sense. Instead of paging through lists of links hidden in-between ads, you get a direct answer to your question (with sources). It sounds brilliant but there’s a catch – running AI models (especially LLMs) require a lot of computational power. They also rely on massive data centers that can consume the same amount of electricity as a small city. And the more popular AI becomes, the more power these large-scale operations will need, with McKinsey &amp; Company predicting AI power consumption could reach up to 219 gigawatts by 2030 — that’s supposedly enough electricity to power more than 163 million (average) homes.



The hyperscalers, large cloud service providers like Amazon, Google, Meta and Microsoft, are all scrambling to secure renewable and low-carbon energy supplies. Both Meta and Microsoft are betting big on nuclear to bolster electric grids. Microsoft recently signed a 20-year power deal with Three Mile Island, an infamous nuclear plant in Pennsylvania that shut down in 2019.



“A lot of the energy plans that the big cloud providers and data centers have is focused on sustainable energy. Nuclear is not renewable but at least we are not burning fossil fuels,” says Chris Wiggett, Head of AI and Data Analytics at NTT DATA Middle East and Africa.



“Connecting to a grid is expensive,” adds Emad Mostaque, a British entrepreneur and the former CEO of Stability AI. “The human brain uses 20 watts. When ChatGPT first came out, it used over 1,000 watts for every influence, every query.” Now, every time someone puts in a prompt into ChatGPT,



it uses around 2.9 watts of energy, every hour. The energy use may be lower but it’s still nearly 10 times what it takes for a single Google search.



“We’re looking to build Africa’s largest interconnected hyperscale data center, but we need to be as efficient as possible in our design and operation,” says Finhai Munzara, ADC’s interim CEO. “Data centers are big capital and come at a high cost to operate. We do use a lot of power so it’s important to ensure that we take some of the burden off the grid and generate as much on-site as we can.” Munzara is also looking into what happens if they overproduce solar power – whether they will be able to bank that excess energy into the grid and then offset it against some of their other emissions elsewhere. “It’s not just about delivery capacity. It’s about how we are going to power it in the most sustainable way.”



Hugging Face – an open-source hub for AI – has over a million models in their library. The platform’s CEO, Clément Delangue, wrote that a new model is created every second on the platform. A Harvard report found that the training process for a single AI model, like an LLM which is what GenAI models are based on, can consume thousands of megawatt hours of electricity.



But Wiggett believes that as AI models evolve, there’s also a chance that they will consume less power. Open-source AI models, which are often collaborative, can be lower in energy consumption compared to a closed, proprietary AI model owned by a business. Wiggett also explains that algorithm solutions require less compute power than their AI counterparts.



A  great  example  is DeepMind’s AI model, AlphaGo, which was built in 2015 to master the ancient Chinese game of Go (a complex board game of strategy, creativity and ingenuity.) “AlphaGo was the first model, and it took a very long time and massive compute power to perform at the level it did. If you look at the subsequent models, they are all algorithm-based yet they outperform the first models,” says Wiggett. “If we look at the evolution of AI, we have to go heavy compute, and then over time, the evolution will involve going lesser compute. From a technology perspective, it will get better over time.”



You can already see a shift in how data centers consume water. Despite Amazon, Microsoft and Google all reporting that their water usage has escalated due to AI demands, the hyperscalers have plans in place to become water-positive in the near future.



Amazon Web Services (AWS) is funding over 20 worldwide water replenishment projects. In other words, they’re giving communities water instead of taking it away. In late 2024, Microsoft launched a new data center design that optimizes AI workloads and consumes zero water &nbsp;&nbsp;for cooling.



“Zero water means that until a data center is built, all the water pumped into the tanks is circulated in a closed loop,” explains Munzara. “The water is cooled with ambient air.” Water usage efficiency (WUE) is a metric that has been tracked since the first generation of data centers. To cut water costs, data centers are often built in icy areas to take advantage of natural cooling. Microsoft has even conducted experiments to see if underwater data centers could work and now, an American company called Lonestar, is looking to put data centers on the moon.



“The moon has no weather, no climate change, no atmosphere and it has a perfect view of Earth rotating underneath it,” said Lonestar’s CEO, Christopher Stott, in an interview. In the meantime, while AI workloads continue to strain data center resources, other eco-friendly cooling options to manage energy efficiency will have to do.

Specialist technician professional engineercontrol drone checking top view of installing solar roof panel on the factory rooftop under sunlight. Engineers holding tablet check solar roof.

Power Tussle: The Hidden Climate Costs Of AI

Trump’s second term may unleash a new wave of acquisitions, and mid-cap stocks could be in the crosshairs of acquirers.



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The stock market surged higher following Donald Trump’s election win earlier last year as Wall Street celebrated the new business-friendly administration and the more lenient regulatory environment it is expected to bring.



Under the Biden administration, dealmaking has been sluggish due in part to an aggressive antitrust approach from the Federal Trade Commission headed up by Chair Lina Khan. A year-and-a-half Federal Reserve rate hiking campaign also slowed the pace of deals. Trump, however, has made it no secret that he wants to overhaul government departments, and once he takes office in January, a change in the FTC seems like it will be among his first orders of business. Plus, the Fed started cutting rates in September.



Dealmakers and corporate lenders are expecting a second Trump term to usher in a new era of merger and acquisition activity, while Wall Street now expects that under Trump, stalled deals like the Kroger-Albertsons grocery merger could get the green light.



Recent interest rate cuts from the Federal Reserve have lowered the cost of capital for companies to do deals, particularly those involving debt. The dollar-volume of M&amp;A activity in 2025 will rise 20%, compared to a 15% decline this year, says Goldman Sachs’ chief U.S. equity strategist, David Kostin.



“A tidal wave of tech M&amp;A and overall deal activity could now be on the horizon with Trump in the White House,” says analyst Dan Ives at Wedbush.



Public company CEOs have also lauded what they see as a more favorable outlook for dealmaking. Warner Bros. Discovery CEO David Zaslav told analysts on a call earlier this month that the new Trump administration would be beneficial for business consolidation.



Andrew Peck, co-chief investment officer at $43 billion Baron Capital, predicts that sectors like healthcare, consumer staples and especially technology—where larger companies are sitting on big cash piles—are ripe for M&amp;A activity. CFRA Chief Investment Strategist Sam Stovall agrees about healthcare and consumer staples but adds to the list depressed sectors like industrials and materials. Bank of America says that just about any company with positive cash flow, above-average sales growth and low debt levels are takeover candidates.



Mid-caps, which range in market capitalization from about $2 billion to $10 billion, have been the stock market’s sweet spot since the turn of the century, with the S&amp;P Midcap 400 Index posting total returns 39% higher than both the large cap S&amp;P 500 Index and Russell 2000 Small Cap Index. An investment of $10,000 in May 2000 in the MDY exchange traded fund that tracks the S&amp;P 400 has mushroomed into a value of $92,260. By comparison, $10,000 invested in the SPY, which mirrors the S&amp;P 500, and IWM, which tracks the Russell 2000, grew into $65,560 and $66,430, respectively.



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<abbr>F</abbr>orbes decided to hunt&nbsp;for acquisition candidates among under-the-radar mid-cap stocks by selecting companies appealing to potential acquirers interested in both growth and value.



In screening for top targets in the growth category,&nbsp;Forbes&nbsp;used the following metrics: Companies with a market range of between $2 billion and $15 billion, closely approximating the typical range for mid-cap stocks. These companies are big enough to exert competitive pressure on larger cap companies in their industry, spurring takeover interest. They are also small enough to be easily digestible for larger companies, and for private equity firms and Warren Buffett-style investors in search of well-run businesses that produce consistent and rising cash flows. There are more than 10,000 private equity firms globally and according to an S&amp;P Global report earlier this year, they are sitting on a record $2.6 trillion in dry powder.



For our mid-cap growth candidates, we required stocks to have more than a 7% increase in current-year earnings per share and revenue. We also required a return on invested capital (ROIC) of at least 15%, a calculation used to determine how well a company allocates money to profitable projects or investments. For the value category, we additionally required shareholder yield of greater than 4% but dropped the requirement for 7% current year growth in earnings per and revenue.



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Onboth lists&nbsp;we also considered enterprise value divided by earnings before interest, taxes, depreciation, and amortization—a metric widely used by acquiring firms that looks at the amount of cash flow generated if you were to buy all of a company’s stock and assume all of its debt. Finally, we then ranked both lists by ROIC and took the 10 stocks ranking highest in that metric.



Top of both the growth and value lists was Dropbox, the $8.5 billion (market capitalization) cloud storage company. Though shares are down some 7% this year, Dropbox boasted an impressive 55.6% return on invested capital, meaning that management has had a good track record of investing in profitable projects.



On our value list, the top performers were all in the consumer staples sector, though their share prices have largely been flat this year. These include retailer Bath &amp; Body Works, department store chain Dillard’s and footwear brand Crocs, which boasted a 37%, 28% and 26% return on invested capital, respectively.



The top targets in our growth list, meanwhile, include the likes of home service plan provider Frontdoor, radiopharmaceutical company Lantheus Holdings and clothing retailer Abercrombie &amp; Fitch. Many of these stocks have seen share prices jump higher in 2024 on the back of solid earnings growth: Lantheus is up 20% while Abercrombie &amp; Fitch and Frontdoor have both risen more than 50%.



“Regulatory shifts may open doors but won&#8217;t fundamentally change what makes a good deal good, and while a potential administration change could ease regulatory scrutiny, factors like higher interest rates could offset any surge in deal activity,” cautions Kurt Havnaer, manager of the Jensen Quality Mid Cap (JNVIX) mutual fund. “Looking ahead, acquirers will likely remain selective, focusing on deals that create tangible shareholder value through revenue synergies, market expansion, and operational efficiencies.



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Donald Trump Campaigns For President In Raleigh, North Carolina

Wall Street Expects A Dealmaking Boom Under Trump. These 20 Stocks Are Prime Targets

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“I try to show myself as an example through excellence,&#8221; says Oduwole.
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Zuriel Oduwole, an education advocate and filmmaker known for her work in global peace and gender equality, has been nominated for the 2025 Nobel Peace Prize.



The nomination, submitted by a professor of clinical education engineering at the University of Southern California (USC) and an emeritus professor of geosciences at the University of Missouri – Kansas City, recognizes Oduwole&#8217;s decade-long efforts in diplomacy and development.



&#8220;I try to show myself as an example through excellence,” Oduwole said to FORBES AFRICA, after leaving the stage following her panel discussion at the 2024 FORBES WOMAN AFRICA Leading Women Summit in March 2024 in Johannesburg.



The 22-year-old first gained international attention at the age of 13 when she met with then-President David Granger of Guyana in New York, urging him to consider the impact of war on women and girls amid rising tensions with Venezuela over the Essequibo oil-rich region.



Her advocacy, inspired by discussions with the First Lady of Sierra Leone about the lingering effects of war, positioned her as a young but formidable voice in international peace efforts.



In 2019, her work with Mozambique’s President Filipe Nyusi contributed to the country’s decision to ban child marriage. She was later invited by an Arab leader during the Qatar-Gulf diplomatic crisis, further solidifying her role in conflict resolution and policy discussions at the highest levels.



She is now a doctoral student at USC, having been accepted into the program at 20.



She has received honors, including the Ban Ki-moon Leadership Award in 2022 for her decade-long peacebuilding initiatives.

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2024 FORBES WOMAN AFRICA Young Achiever Awardee Nominated For 2025 Nobel Peace Prize

<abbr>E</abbr>li Lilly&nbsp;is&nbsp;<a href="https://www.reuters.com/business/healthcare-pharmaceuticals/eli-lilly-bets-big-weight-loss-pill-with-550-million-inventory-stockpile-2025-02-20/" rel="noreferrer noopener" target="_blank">stockpiling massive quantities</a>&nbsp;of an oral weight-loss drug that’s at least a year from launch, with total&nbsp;<a href="https://www.sec.gov/Archives/edgar/data/59478/000005947825000067/lly-20241231.htm" rel="noreferrer noopener" target="_blank">“pre-launch inventory”</a>&nbsp;of nearly $550 million at Dec. 31, 2024, according to its 10-K financial statements released last week.



The unusual move represents a massive bet on a new once-daily pill for weight loss called orforglipron, at a time when GLP-1 drugs from Lilly and its competitor Novo Nordisk have taken the market by storm. Lilly’s tirzepatide drugs, Zepbound for obesity and Mounjaro for diabetes, both of which are administered by injection, accounted for $5.4 billion in revenue in the fourth quarter alone.



Orforglipron showed good results in a phase 2 trial published in the&nbsp;New England Journal of Medicine&nbsp;in June 2023. The highest dose of the drug resulted in&nbsp;<a href="https://investor.lilly.com/news-releases/news-release-details/lillys-phase-2-results-published-new-england-journal-medicine" rel="noreferrer noopener" target="_blank">14.7% weight loss after 36 weeks</a>&nbsp;for people who were obese or overweight. Lilly has begun stage 3 research, and CEO Dave Ricks said last month that the drug could receive FDA approval&nbsp;<a href="https://fortune.com/well/article/eli-lilly-weight-loss-pill-orforglipron-glp1-2026/" rel="noreferrer noopener" target="_blank">as early as next year.</a>



“The level of excitement here is high,” Patrik Jonsson, Lilly’s president of cardiometabolic health, told&nbsp;Forbes&nbsp;in an interview at the J.P. Morgan healthcare conference in January. “This could potentially be game-changing when it comes to reaching more patients across the globe.”



Oral medications, after all, don’t require the cold-chain storage and transportation that injectables do, and they’re less complicated to manufacture. They’re also more appealing to patients, especially those who have needle phobias.



What the easier production and distribution means for the price of orforglipron when it hits the market remains to be seen. On Tuesday, Lilly began selling higher doses of Zepbound in the U.S. at a&nbsp;<a href="https://www.reuters.com/business/healthcare-pharmaceuticals/lilly-launches-higher-dose-vials-weight-loss-drug-150-less-than-injector-pen-2025-02-25/" rel="noreferrer noopener" target="_blank">discount of $150</a>&nbsp;compared to the injector pen versions, Reuters reported. Then, on Wednesday, it said that it would&nbsp;<a href="https://www.cnbc.com/2025/02/26/eli-lilly-to-invest-27-billion-in-new-us-manufacturing.html" rel="noreferrer noopener" target="_blank">invest $27 billion</a>&nbsp;in four new U.S. manufacturing plants.



Research firm Coherent Market Insights estimates the global GLP-1 market at $25 billion in 2024 and forecasts that it will&nbsp;<a href="https://www.biospace.com/press-releases/glp-1-receptor-agonist-market-worth-55-70-billion-by-2031-coherent-market-insights" rel="noreferrer noopener" target="_blank">surpass $55.7 billion by 2031.</a>



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<h2 class="wp-block-heading" id="h-cellino-inks-a-deal-to-build-a-stem-cell-foundry-at-mass-general">Cellino Inks A Deal To Build A Stem Cell Foundry At Mass General</h2>



<abbr>F</abbr>or more than a decade, biotech researchers have been exploring the possibility of regenerating damaged parts of the body as a way to treat degenerative diseases such as Parkinson’s and type 1 diabetes. One of the most promising technologies to do so are induced pluripotent stem cells (iPSCs), which can be programmed to turn into basically any kind of cell.



The catch: making these cells is a labor-intensive process that can cost millions of dollars to produce tissue for just one patient. Biotech startup Cellino, cofounded in 2017 by CEO and&nbsp;<a href="https://www.forbes.com/pictures/5bda143431358e5b43352bd7/marinna-madrid-28-nabiha/">Forbes&nbsp;30 Under 30 alumna Nabiha Saklayen,</a>&nbsp;is now one step closer to scaling iPSC manufacturing. It’s building its first foundry at Massachusetts General Brigham’s Gene and Cell Therapy Institute. Cellino has raised a total of $100 million in venture funding at a valuation of $140 million as of January 2022, according to Pitchbook.



The foundry will use the automated systems that Cellino has developed (<a href="https://www.forbes.com/sites/alexknapp/2024/09/10/this-startup-aims-to-regenerate-damaged-tissues-with-the-help-of-ai-and-lasers/">read more about the tech here</a>) to generate iPSCs from patients’ blood or skin cells on-site. The company estimates that use of the foundry, which is set to go online next year, could reduce costs by a factor of ten. More importantly, a scalable, consistent process will make it easier to manufacture new treatments that can go through the clinical trial process and eventually be commercialized, CEO Saklayen told&nbsp;Forbes.



“With high quality cells, we can start to see what the readout is in patients and know how potent the medicine is,” she said. “That’s hard to tell if the manufacturing isn’t standardized. So that’s what I’m really excited about.”



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<h2 class="wp-block-heading" id="h-biotech-and-pharma">BIOTECH AND PHARMA</h2>



Last December, the FDA&nbsp;<a href="https://www.fda.gov/news-events/press-announcements/fda-approves-first-mesenchymal-stromal-cell-therapy-treat-steroid-refractory-acute-graft-versus-host" rel="noreferrer noopener" target="_blank">approved</a>&nbsp;Mesoblast’s drug Ryoncil, which is the first time a mesenchymal stromal cell (MSC) therapy has received a green light from the agency. MSCs are adult stem cells found in bone marrow that can turn into different types of cells. Ryoncil is used to treat children with severe graft-versus-host disease (GVH) following a stem cell transplant, which is typical for leukemia patients. It’s also the first approved treatment for children with this disease who don’t respond to steroids.



Mesoblast CEO Silviu Itescu told&nbsp;Forbes&nbsp;last week that the company plans to begin commercial sales of the drug this quarter, with the remaining obstacles being setting pricing with payers and shipping product to hospital. “We have inventory for at least the next couple of years for children with acute GVH,” he said. The company is also pursuing clinical trials for adults with GVH as well as for the use of its stem cell products for children with severe Crohn&#8217;s disease, he said.



The publicly traded company’s shares are down 21% so far this year, at a recent $16.



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<h2 class="wp-block-heading" id="h-digital-health-and-ai">DIGITAL HEALTH AND AI</h2>



AI biotech startup Genesis Therapeutics&nbsp;<a href="https://www.businesswire.com/news/home/20250220803826/en/Incyte-and-Genesis-Therapeutics-Announce-Strategic-AI-focused-Research-Collaboration" rel="noreferrer noopener" target="_blank">entered</a>&nbsp;an agreement with pharmaceutical company Incyte to use Genesis’ AI drug discovery platform, GEMS, to discover small molecule drug candidates against two undisclosed targets. Under the terms of the arrangement, Incyte will pay Genesis $30 million upfront and up to $295 million in milestones per target over the course of the collaboration, plus royalties. Incyte, which has a $14 billion market cap, focuses on oncology, immunology and dermatology and other unmet needs. This is the third deal for Genesis since September, following similar collaborations with pharmaceutical company Gilead and AI powerhouse Nvidia.



“We found it was a really natural fit to combine GEMS and its ability to drug challenging targets with some of the needs Incyte had for some of its pipeline programs,” Genesis CEO Evan Feinberg told&nbsp;Forbes, adding that another reason he wanted to work with Incyte is its “track record of pioneering completely new areas of medicine.”



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<h2 class="wp-block-heading" id="h-medtech">MEDTECH</h2>



Medical device maker Medtronic (market cap $116 billion) gained FDA approval for a new&nbsp;<a href="https://www.medtechdive.com/news/Medtronic-DBS-BrainSense-Parkinsons-FDA-approval/740757/" rel="noreferrer noopener" target="_blank">self-adjusting deep brain stimulation device</a>&nbsp;for people with Parkinson’s disease, a nervous system disorder that affects movement. The BrainSense Adaptive device works similarly to a cardiac pacemaker, but for the brain, using a surgically implanted neurostimulator to transmit electrical signals to the specific areas of the brain affected by the disease. Medtronic said that the approval was the first for an adaptive deep brain stimulation device for Parkinson’s, and that it would be the largest ever commercial rollout of a brain-computer interface technology. Some 1 million people in the U.S. have been diagnosed with the debilitating neurological disorder.



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<h2 class="wp-block-heading" id="h-public-health-and-hospitals">PUBLIC HEALTH AND HOSPITALS</h2>



Measles keeps spreading in West Texas. There are now&nbsp;<a href="https://www.cnn.com/2025/02/25/health/measles-texas-cases/index.html" rel="noreferrer noopener" target="_blank">124 confirmed cases,</a>&nbsp;most of them in West Texas where the outbreak began. The West Texas outbreak is the&nbsp;<a href="https://www.pbs.org/newshour/show/west-texas-measles-outbreak-spreads-amid-vaccine-hesitancy-in-some-communities" rel="noreferrer noopener" target="_blank">largest the state has seen in 30 years,</a>&nbsp;and highlights the difficulties convincing people to get vaccines in the current environment. A&nbsp;<a href="https://www.forbes.com/sites/antoniopequenoiv/2025/02/26/texas-measles-outbreak-first-death-reported-as-over-120-infected/">first death from the disease</a>&nbsp;was reported on Wednesday morning. A separate, potentially related, measles outbreak in New Mexico has now grown to nine cases. The outbreak has also spurred parents who’d previously chosen not to vaccinate children to&nbsp;<a href="https://www.nbcnews.com/health/health-news/texas-measles-outbreak-grows-parents-vaccinate-rcna193637" rel="noreferrer noopener" target="_blank">change their minds</a>.



Plus:&nbsp;<a href="https://www.forbes.com/sites/katiejennings/2021/10/12/meet-the-sudanese-doctor-who-turned-nurse-staffing-on-its-head/">Healthcare hiring unicorn Incredible Health</a>&nbsp;is expanding from nurses to technicians, a workforce that makes up 60% of all healthcare workers and is now facing a shortage. The San Francisco-based startup will also go beyond hospitals to home health organizations and ambulatory care centers. Incredible Health,&nbsp;<a href="https://www.forbes.com/sites/amyfeldman/2021/10/12/next-billion-dollar-startups-2021/">an alum of the 2021 Forbes Next Billion-Dollar Startups list,</a>&nbsp;has placed more than 1 million nurses in 1,500 hospitals across the country since it launched in 2017. It has been testing hiring of technicians in nine states, including California, New York and Texas, and plans to complete the national rollout by year end.



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<h2 class="wp-block-heading" id="h-deal-of-the-week">DEAL OF THE WEEK</h2>



Eikon Therapeutics, which is developing a pipeline of drugs to treat cancer, announced&nbsp;<a href="https://www.eikontx.com/news/eikon-therapeutics-secures-350-7-million-series-d-to-advance-clinical-stage-programs-and-future-pipeline/" rel="noreferrer noopener" target="_blank">it has raised</a>&nbsp;$350 million, bringing its total funding to more than $1.1 billion. The Hayward, Calif.-based company, which was worth $3.7 billion before the latest investment, according to PitchBook, declined to disclose its new valuation. Eikon plans to use the new funds to support the ongoing development of its drug candidates, which target advanced melanoma as well as brain, ovarian, breast, prostate and pancreatic cancer. To facilitate its drug development, the company uses its own&nbsp;<a href="https://www.forbes.com/sites/alexknapp/2022/01/06/this-startup-raised-over-500-million-to-find-better-drugs-with-nobel-prize-winning-microscopes/">advanced fluorescent microscopy technology</a>, which enables it to observe how different substances interact on the cellular level in real time. Eikon CEO Roger Perlmutter was previously head of R&amp;D at Merck.



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<h2 class="wp-block-heading" id="h-what-we-re-reading">WHAT WE’RE READING</h2>



A newly discovered coronavirus in bats&nbsp;<a href="https://www.nature.com/articles/d41586-025-00503-7" rel="noreferrer noopener" target="_blank">has the potential to spill over</a>&nbsp;into humans using the same pathway as the virus that causes Covid-19.



<a href="https://www.forbes.com/sites/amyfeldman/2025/02/20/this-ceo-became-a-billionaire-by-trying-to-bring-back-the-woolly-mammoth/">Billionaire Colossal Biosciences CEO</a>&nbsp;Ben Lamm sees uses for human health in efforts to resurrect the woolly mammoth.



At least three DOGE employees&nbsp;<a href="https://www.wired.com/story/doge-is-inside-the-national-institutes-of-health-nih/" rel="noreferrer noopener" target="_blank">have access to&nbsp;</a>the National Institutes of Health’s systems that control finance, budget and procurement.



How&nbsp;<a href="https://www.nytimes.com/2025/02/24/health/dr-oz-medicare-finances-conflicts.html" rel="noreferrer noopener" target="_blank">Dr. Oz’s millions collide with Medicare</a>, including as a relentless promoter of controversial private Medicare Advantage insurance plans for older Americans.



<a href="https://www.nbcnews.com/health/health-news/fda-rehires-staff-medical-devices-division-mass-layoffs-rcna193501" rel="noreferrer noopener" target="_blank">FDA rehires staff</a>&nbsp;to its medical devices division after mass layoffs by Elon Musk’s DOGE. Meanwhile, the new administrator in charge of the FDA’s food division appears to have&nbsp;<a href="https://www.vanityfair.com/news/story/food-safety-donald-trump-jr-kyle-diamantas-hunting-buddy" rel="noreferrer noopener" target="_blank">no relevant experience</a>&nbsp;beyond hunting with Donald Trump Jr.



<a href="https://www.grubstreet.com/article/bird-flu-crescent-duck-farm-doug-corwin-long-island.html?origSession=D250225bemIKt3OSACQ4UVJI%2FXSXx3Mv2q6AsYYvGKfm92CLFQ%3D&amp;_gl=1*1yjo6ki*FPAU*NDQ1NDkyOTg1LjE3NDA1MDQ1MDI.*_ga*MTYzNjUxMjM4OC4xNzQwNTA0NTAx*_ga_DNE38RK1HX*MTc0MDUwNDUwMS4xLjEuMTc0MDUwNDU1NC4wLjAuOTU3NzI1OTA2*_fplc*Wkp5NFh0JTJCZHQ3cjNybnFnRXp0RDA2alVvWXVjejJWREZSVjdxZzNJUUdCTGFFSTlFNFdFaUtHQmpFVTclMkJaQnplRlNkTkVjN0ZPdU95YVFHa0d3dk16OGxXd1JNZGthN0xQaFZSRTVQUXhZVCUyQkQ2R3RjQ3ElMkZKa2pKM3FjM3clM0QlM0Q." rel="noreferrer noopener" target="_blank">Bird flu wiped out</a>&nbsp;Doug Corwin’s century-old Long Island duck farm, forcing him to cull the entire 100,000 flock.



Two people, one in Wyoming and one in Ohio, have been&nbsp;<a href="https://www.theguardian.com/us-news/2025/feb/24/bird-flu-hospitalizations-wyoming-ohio" rel="noreferrer noopener" target="_blank">hospitalized</a>&nbsp;with avian flu.



New research finds that hormone therapy&nbsp;<a href="https://www.scientificamerican.com/article/transgender-youth-have-better-emotional-health-after-taking-hormones-new/" rel="noreferrer noopener" target="_blank">significantly improves</a>&nbsp;the emotional health of young transgender people.



Health clinic workers brush up on constitutional protections for their patients as&nbsp;<a href="https://kffhealthnews.org/news/article/california-health-clinics-immigration-raids-trump-constitutional-rights/?utm_campaign=KHN%3A%20First%20Edition&amp;utm_medium=email&amp;_hsenc=p2ANqtz-_PHm1EgQV5IFp-ZPdE0o5DQu7-uyQDe8A5XyGfJW5DfWXtePxvtJB7OXmVMT9PJMDISwEK6RFmV5AxsHlTOnI9JipW2w&amp;_hsmi=348996172&amp;utm_content=348996172&amp;utm_source=hs_email" rel="noreferrer noopener" target="_blank">immigration raids loom.</a>

Indianapolis – April 2016: Eli Lilly and Company V

Eli Lilly Has Stockpiled Nearly $550 Million Of Its Next Obesity Drug

<h2 class="wp-block-heading" id="h-topline">Topline</h2>



Ukrainian President Volodymyr Zelenskyy said he is ready to sign a stalled minerals deal with the United States in a&nbsp;<a href="https://x.com/ZelenskyyUa/status/1895793386990551336" rel="noreferrer noopener" target="_blank">thread on X</a>&nbsp;on Saturday, in which he also urged the United States to stand strongly behind Ukraine amid its war with Russia, one day after his meeting with President Donald Trump and Vice President JD Vance devolved into a near-shouting match.



<h2 class="wp-block-heading">Key Facts</h2>



<a href="https://x.com/ZelenskyyUa/status/1895793386990551336" rel="noreferrer noopener" target="_blank">Zelenskyy said</a>&nbsp;he is grateful to Trump and Congress for bipartisan support for Ukraine throughout its three-year invasion by Russia, acknowledging “tough dialogue” without mentioning his contentious Friday White House meeting with Trump and Vance.



The&nbsp;<a href="https://x.com/ZelenskyyUa/status/1895793627164471777" rel="noreferrer noopener" target="_blank">Ukrainian president said</a>&nbsp;he is ready to sign the minerals deal—which he and Trump&nbsp;<a href="https://www.reuters.com/world/trump-zelenskiy-did-not-sign-minerals-deal-white-house-says-2025-02-28/" rel="noreferrer noopener" target="_blank">did not sign</a>&nbsp;after their meeting Friday—but said the deal is not enough, stating a “ceasefire without security guarantees is dangerous for Ukraine” and “Ukrainian people need to know that America is on our side.”



“I want the U.S. to stand more firmly on our side,”&nbsp;<a href="https://x.com/ZelenskyyUa/status/1895794114622615757" rel="noreferrer noopener" target="_blank">Zelenskyy said</a>,&nbsp;<a href="https://x.com/ZelenskyyUa/status/1895794247791755302" rel="noreferrer noopener" target="_blank">stating</a>&nbsp;Ukraine’s relationship with the United States is “historic and solid bond between our peoples” that extends beyond Trump and himself.



Zelenskyy said it is “understandable the U.S. might look for dialogue with Putin,” but frequently warned of Russia throughout his X thread, calling the country “the enemy” and stating Putin cannot be trusted to uphold a ceasefire.



Zelenskyy’s tweet thread comes one day after he posted thanks to many foreign leaders for reaffirming their support for Ukraine after his meeting with Trump, including German Chancellor&nbsp;<a href="https://x.com/ZelenskyyUa/status/1895574049960706075" rel="noreferrer noopener" target="_blank">Olaf Scholz</a>, Swedish Prime Minister&nbsp;<a href="https://x.com/ZelenskyyUa/status/1895574466580861106" rel="noreferrer noopener" target="_blank">Ulf Kristersson</a>, European Parliament President&nbsp;<a href="https://x.com/ZelenskyyUa/status/1895574887684874478" rel="noreferrer noopener" target="_blank">Roberta Metsol</a>&nbsp;and European Commission President&nbsp;<a href="https://x.com/ZelenskyyUa/status/1895577227255013664" rel="noreferrer noopener" target="_blank">Ursula von der Leyen</a>.



<h2 class="wp-block-heading">What Happened At Zelenskyy’s White House Meeting?</h2>



Zelenskyy visited the&nbsp;<a href="https://www.forbes.com/sites/tylerroush/2025/02/28/trump-threatens-zelensky-during-tense-live-meeting-make-a-deal-or-were-out/">White House</a>&nbsp;Friday to discuss the minerals deal with the United States, but his visit was cut short and the signing called off after a talk with Trump and Vance in the Oval Office grew increasingly tense and verged on a&nbsp;<a href="https://www.forbes.com/sites/mollybohannon/2025/02/28/trump-zelenskyy-vance-face-off-in-oval-office-shouting-match-heres-everything-they-said/">shouting match</a>&nbsp;between the three leaders. When Vance suggested the path to peace should be through engaging in diplomacy, Zelenskyy questioned the vice president: “What kind of diplomacy, JD, (are you) speaking about?” stating Putin is an unreliable partner in a potential cease-fire deal. Vance then called Zelenskyy “disrespectful” for trying to “litigate this in front of the American media” and questioned whether Zelenskyy had thanked the United States for its support. Trump entered the argument after Zelenskyy said “everybody has problems. Even you, but you have nice ocean and don’t feel now, but you’ll feel it in the future,” telling Zelenskyy: “Don’t tell us what we’re gonna feel,” adding the Ukrainian president he is “gambling with World War III.” Trump later told Zelenskyy: “You’re either gonna make a deal or we are out.”



<h2 class="wp-block-heading">What Are The Details Of The Ukraine Minerals Deal?</h2>



Trump has framed the minerals deal with Ukraine as necessary for repayment for military aid provided to Ukraine during its war with Russia. The&nbsp;<a href="https://www.cnn.com/2025/02/26/europe/ukraine-us-mineral-resources-deal-explained-intl-latam/index.html" rel="noreferrer noopener" target="_blank">terms of the deal</a>&nbsp;would reportedly establish a “reconstruction investment fund,” to which half the revenue from Ukraine’s state-owned natural resources projects would go. Zelenskyy has pushed for the deal to include greater security guarantees for Ukraine, though&nbsp;<a href="https://www.theguardian.com/us-news/2025/feb/25/trump-zelenskyy-ukraine-minerals-deal" rel="noreferrer noopener" target="_blank">Trump has said</a>&nbsp;he would look for greater security for Ukraine “later on.” Trump initially demanded $500 billion from Ukrainian minerals from the deal, which Zelenskyy rejected, prompting Trump to call him a “dictator” in a tense war of words.



<h2 class="wp-block-heading">What Minerals Does Ukraine Possess?</h2>



Ukraine’s Ministry of Environmental Protection and Natural Resources says the country has Europe’s number-one graphite, lithium, titanium and uranium reserves, which are crucial for producing batteries, armor, defense materials and nuclear fuel. Partnering with Ukraine to source these minerals could reduce the United States’&nbsp;<a href="https://www.theguardian.com/world/2025/feb/17/what-are-ukraines-critical-minerals-and-why-does-trump-want-them" rel="noreferrer noopener" target="_blank">reliance on China</a>&nbsp;and Russia to import these minerals.



<h2 class="wp-block-heading">Further Reading</h2>



<a href="https://www.forbes.com/sites/mollybohannon/2025/02/28/trump-zelenskyy-vance-face-off-in-oval-office-shouting-match-heres-everything-they-said/">Trump, Zelenskyy, Vance Face Off In Oval Office Shouting Match—Here’s Everything They Said</a>&nbsp;(Forbes)



<a href="https://www.forbes.com/sites/tylerroush/2025/02/28/trump-threatens-zelensky-during-tense-live-meeting-make-a-deal-or-were-out/">Trump-Zelenskyy Talks End Early After Trump Threatens Him In Tense Live Meeting: ‘Make A Deal Or We’re Out’</a>&nbsp;(Forbes)

Zelenskyy Says He’ll Sign Minerals Deal And Urges US To ‘Stand More Firmly’ For Ukraine After Oval Office Clash

Access to vaccines remains a significant challenge across Africa, but technology is emerging as a key to breaking decades of relying on other nations for vaccine development- and to thereby stop the spread of disease much, much faster.



In 2021, Africa’s 1.3 billion people had to wait months for the Covid-19 vaccine. More than 40 million doses had reportedly been administered in wealthier countries hoarding the vaccine compared with just 25 doses given, in total, to one of the lowest income countries in Africa. 



The world was, said the head of the World Health Organization (WHO), on the “brink of a catastrophic moral failure”. It was a stark and unpleasant picture painted by lack of access, limited funding, and supply chain complexities. It’s also not the first time Africa has been left behind. The treatment for HIV/Aids took six years to become accessible to Africans who were among the hardest-hit by the disease, vaccines were hard to come by during the 2009 swine flu pandemic, and in 2023, there was a shortage of cholera vaccines when an Indian manufacturer stopped making the vaccine during an outbreak. 



The Africa Centers for Disease Control and Prevention (Africa CDC) has stated that over 200 disease outbreaks were reported in 2024. And they all have a direct impact on education, economic development, security and health. Yet, Africa remains reliant on vaccines produced in other parts of the world reportedly producing less than 1% of the world’s vaccinations. Out of the 54 countries in Africa, only eight have the capacity to produce vaccines – South Africa, Tunisia, Morocco, Nigeria, Senegal, Algeria, Egypt and Ethiopia.



Today, Mpox is a growing threat in Africa. In 2024, the Africa CDC declared its first Public Health Emergency of Continental Security and WHO issued its Public Health Emergency of International Concern (PHEIC), one of its highest global health alerts. Across Burundi, Kenya, Rwanda, Uganda, Côte d’Ivoire, South Africa and, more recently in 2025, the Democratic Republic of the Congo (DRC), Mpox cases totaled more than 50,840 as of November 2024.



The continent’s leadership isn’t sitting still. The African Union and the Africa CDC committed to the ideal of Africa producing 60% of its own vaccines by 2040, signing two Memorandums of Agreement (MOUs) and forming partnerships with key organizations like Gavi, the Vaccine Alliance, who were instrumental in ensuring Africa received Covid-19 vaccines. But, with the continent expected to now produce 1.5 billion doses a year – 73 times more than what’s produced locally today – technology has become an essential tool to supporting vaccine development and distribution in Africa.



It sounds expensive, but as Arthur Salaün, partner at Boston Consulting Group, tells FORBES AFRICA, “Vaccines are considered one of the most cost-effective global health interventions – for every dollar you invest in vaccines, you get $20 return across economic and societal gains.”



Technology can play into the limited supply of vaccines on the continent. For example, as Michael Mynhardt, CEO and co-founder of MMH &amp; Partners Africa, explains, data can provide rapid insights into where hotspots are forming, giving healthcare providers more time to react. “You can use data to pinpoint and track outbreaks, allowing for teams to develop more effective vaccination strategies.”



He also raises one of the most significant challenges when it comes to managing vaccinations in Africa – the supply chain. There’s a growing need for solutions that can manage the cold chain efficiently while delivering vaccines to remote and hard- to-reach areas. “Drones and autonomous delivery solutions are able to access rural areas quickly and at a lower cost,” he adds.



In Kisumu, a city in Kenya, Zipline drones are being used to deliver rabies post-exposure prophylactics, malaria vaccines and measles vaccines to children. Zipline has also ensured the distribution of more than one million vaccines in Ghana, while the DRC has invested in drones to deliver yellow fever vaccines to out-of-reach locations.



Then there is the role technology is playing in the delivery of the vaccine into the human body itself. As Professor Willem Hanekom, co-national principal investigator for the M72/ AS01E TB vaccine candidate trial in South Africa, explains to FORBES AFRICA: “Most vaccines are delivered by injection – it’s practical and we know how to do it, but what if we developed patches instead? There are trials going on globally to try and convert vaccines into patches but it’s not a simple transition. They have to be safe to use and easy to deliver, and there are a lot of regulatory steps that can take years.”



Patches would be easier to manage, more cost-effective to transport, especially if using UAVs, and less intimidating for children, but their development is lengthy thanks to safety and regulatory challenges. Hanekom takes the conversation back to the supply chain and the critical need to ensure that every vial and vaccine has remained at the right temperature throughout transportation. “Technologies are coming into play that make this more efficient, for example, markers on every vial that can show whether or not there has been an interruption in the cold chain,” he says.



Dr Meg Schaeffer, EdD, MPH, MPA, an infectious disease epidemiologist and National Public Health advisor at SAS Institute in the United States, adds: “Real-time field monitoring tools ensure vaccines retain their efficacy as they move through the delivery process, but another critical factor is more of an interplay on the epidemiology side using a regional model. Technology can help us to consistently monitor where disease outbreaks are occurring and then model and potentially forecast different scenarios to assess which populations will be affected next, and to what extent. It helps us to determine where to position our resources quickly. This is the next critical frontier for Africa – using technology to deploy vaccines exactly to where they need to be so we can stop the spread of disease much, much faster.”



Finally, of course, there’s artificial intelligence (AI). AI is helping organizations reduce the time to discover a vaccine and put it on the market, allowing developers and healthcare systems to react far faster than today. “We see a future for vaccines where instead of 10 years, they will take a few months which means that when you have an epidemic, you can react far quicker than in the past,” he says. “AI-discovered drugs have a success rate of 80%-90% in phase one which is way higher than traditional drugs. The hope is that it will help Africa develop vaccines for local, daily diseases that are of no interest to global pharmaceuticals and change the narrative on the continent.”

Doctor fills syringe with medicine from vial. Vaccination and immunization

The Next Critical Frontier: Vaccine Development In Africa

Chinese brands are gaining momentum and igniting a new era in South Africa’s automotive landscape. Whether it’s a sleek new SUV rolling off a Chinese assembly line or a locally produced vehicle designed to compete on the global stage, the industry is speeding with potential and possibilities.



A Few Decades Ago, South Africa witnessed the rise of Japanese automotive brands like Kia, Hyundai, and Suzuki, which boldly entered the market to challenge well-established mass volume players like Toyota, Volkswagen (VW) and Nissan. Over time, these brands not only carved out significant market shares but also won the hearts of South Africans with their affordability, innovation and reliability. Today, a similar story is unfolding – this time with Chinese automotive brands rapidly making their mark on South Africa and the broader African continent. Brands like Great Wall Motor Company (GWM), Haval and Chery have already secured spots in the National Association of Automobile Manufacturers of South Africa’s (NAAMSA) top 10 sales charts. Meanwhile, newer entrants such as GAC, Jetour, LDV and Dongfeng are aiming to steadily build momentum. With 2025 promising a wave of exciting new launches, these brands are poised to redefine the automotive landscape and spark a new era of competition.



Vision for Growth



Jay Jay Botes, General Manager of Chery South Africa, reveals that the company has ambitious plans to introduce multiple new energy vehicles (NEVs) to the South African market in 2025. While the idea of establishing local manufacturing facilities is under consideration, Botes emphasizes that Chery is still in the feasibility study phase.



On the other hand, BYD – one of China’s largest electric vehicle (EV) producers – is entering the South African market with bold intentions. As BYD celebrates 30 years, the brand is leveraging its expertise in industries like rail transit, renewable energy and electronics to disrupt the automotive industry. Steve Chang, General Manager of BYD South Africa, highlights the company’s long-term vision: building trust in a competitive environment by prioritizing customer relationships over short-term profit margins.



BYD’s upcoming launches, including the Sealion 6 plugin hybrid and the Dolphin mini, underscore its commitment to innovation. The brand’s focus on R&amp;D, with 10% of its global workforce dedicated to it, ensures that its vehicles are not only technologically-advanced but also tailored to meet the needs of diverse markets like South Africa.



The BRICS Connection



The rise of Chinese brands in South Africa is closely tied to the country’s membership in the BRICS bloc. Since joining in 2010, South Africa has seen a significant increase in automotive imports from BRICS countries, with China playing a central role. However, this growth has also sparked debates about balancing the interests of legacy automotive manufacturers like BMW, Mercedes-Benz, Ford, VW, Isuzu, Nissan and Toyota – many of which have invested heavily in local production facilities – and the influx of competitively priced imports.



Mikel Mabasa, CEO of NAAMSA, acknowledges the complexities. “The disruption caused by Chinese imports is a topic of concern, but any potential interventions must align with the South African Automotive Masterplan 2035 and the second phase of the Automotive Production Development Programme (APDP2),” he explains. Mabasa emphasizes that while competition is intense, it ultimately benefits consumers by offering more choices at competitive prices.



Competing on Value



In a fiercely-competitive market, Chinese brands have positioned themselves as champions of affordability and innovation. Their focus on SUVs – one of the fastest-growing segments globally – has struck a chord with South African consumers. Equipped with advanced features and cutting-edge technology, these vehicles offer exceptional value, making them highly appealing in a market where 66.3% of vehicles sold in 2023 were priced below ZAR500,000 ($26,787).



Despite this influx, locally-produced vehicles remain strong contenders. In 2023, eight of the top 10 selling models in South Africa were manufactured locally, showcasing the resilience and adaptability of the country’s legacy OEMs (Original Equipment Manufacturers). Mabasa notes that the presence of Chinese brands has spurred local manufacturers to innovate, offering aggressive marketing, attractive financing options, and new model launches to stay competitive.



The NEV Revolution



As the global automotive industry pivots toward NEVs, South Africa stands at the cusp of a transformative shift. President Cyril Ramaphosa’s announcements at the SA Auto Week in 2024 highlighted the government’s commitment to fostering NEV adoption through policy support and incentives. However, NEVs remain a niche segment, accounting for just 1.45% of total new vehicle sales in 2023.



Chinese brands like BYD are well-positioned to accelerate this transition. By offering affordable EV options, they could drive broader market adoption and pave the way for local production in the future. Mabasa believes that a combination of demand-side incentives and hybrid vehicle inclusion in the APDP2 framework could catalyze this growth. “The affordability of Chinese EVs makes them a key player in addressing the high costs that currently hinder NEV adoption,” he says.



A Continent Alive with Possibilities



The rise of Chinese automotive brands in South Africa is not an isolated phenomenon. These brands are also making inroads across sub-Saharan Africa, leveraging the continent’s growing appetite for affordable, feature-rich vehicles. With whispers of potential production facilities and partnerships, their influence is set to extend far beyond sales figures.



This shift is indicative of a broader transformation within the African automotive landscape. Consumers are becoming more discerning, demanding vehicles that offer not just affordability but also quality, reliability and innovation. As Chinese brands rise to meet these expectations, they are also challenging local and global players to rethink their strategies.



Shaping the Future



The automotive industry is undergoing a seismic shift, and South Africa is at the heart of this transformation. Chinese brands, with their relentless focus on affordability, technology and customer trust, are reshaping the competitive landscape and redefining what it means to succeed in the industry.



For consumers, this means more choices, better value and the promise of a future where NEVs become a mainstream reality. For manufacturers and policymakers, it’s a call to innovate, collaborate and adapt to a rapidly changing world.



As South Africa enters this new era, one thing is clear: the automotive landscape is alive with possibilities. Whether it’s a sleek new SUV rolling off a Chinese assembly line or a locally- produced vehicle designed to compete on the global stage, the industry is brimming with potential. And at the center of it all are the consumers, whose preferences and demands will ultimately shape the future. This is not just a story about cars – it’s a story about transformation, resilience and the unyielding drive to innovate. It’s a story about South Africa, its people and its place in the global automotive revolution.

3d render of automatic car production line with robotic arms welding parts

Sparking Competition: The Rise Of Chinese Automotive Brands In South Africa

<h2 class="wp-block-heading" id="h-topline">Topline</h2>



The price of bitcoin dropped below $80,000 Friday, its lowest level since last November, amid a crypto selloff that has wiped out nearly all of the token’s post-election gains as concerns mount about the economic impact of President Donald Trump’s tariffs.



<h2 class="wp-block-heading">Key Facts</h2>



The price of bitcoin, the world’s most valuable cryptocurrency, stood at $78,949 early on Friday—after falling more than 8.5% over the past 24 hours.



In the past seven days, bitcoin’s price has plummeted nearly 20%.



Bitcoin’s slump comes amid a wider crypto market selloff, with the price of Ether—the second most valuable token by market cap—dropping more than 11% in the past 24 hours to around $2,100.



The price of the Ripple Labs-linked XRP, Binance’s BNB and Solana’s SOL have tanked 9.2%, 7.3% and 9% respectively in the past day.



<h2 class="wp-block-heading">Big Number</h2>



27.3%. That is how much the price of bitcoin has dropped since it hit an all-time high of $109,114 on Jan. 20, the day of President Donald Trump’s inauguration.



<h2 class="wp-block-heading">Key Background</h2>



The crypto market selloff comes on the backdrop of a major crypto exchange hack and concerns about the economic impact of Trump’s tariffs. Last week, hackers managed to steal Ether holdings worth nearly $1.5 billion from the exchange Bybit—the largest ever cryptocurrency heist. On Wednesday, the FBI&nbsp;<a href="https://www.ic3.gov/PSA/2025/PSA250226" rel="noreferrer noopener" target="_blank">accused</a>&nbsp;North Korea-backed hacker groups, TraderTraitor and the Lazarus Group, of carrying out the theft. The agency said the hackers were “proceeding rapidly and have converted some of the stolen assets to Bitcoin and…It is expected these assets will be further laundered and eventually converted to fiat currency.”



<h2 class="wp-block-heading">Tangent</h2>



Trump’s official meme coin,&nbsp;<a href="https://www.forbes.com/sites/tylerroush/2025/01/19/donald-trump-launches-trump-meme-coin-token-exceeds-12-billion-market-cap/">launched</a>&nbsp;just days before his inauguration, has also continued its downward slide amid the market wide rout. On Friday, the price of the $TRUMP meme coin fell to $11.30—a nearly 15% drop in the past 24 hours and 85% below its all-time high of around $75. The token peaked just two days after its official launch, with $TRUMP’s market cap briefly crossing $15 billion, but its price has steadily declined since then. The $TRUMP launch appeared to spur other world leaders to boost similar meme tokens. Earlier this month, Argentinian President Javier Milei promoted $LIBRA token, causing its market cap to surge to $4 billion, before early backers began dumping their holdings. The following crash in LIBRA’s price, which appeared to resemble a pump-and-dump scheme, has triggered lawsuits against the Argentine leader. In a similar move, the president of the Central African Republic—one of Africa’s poorest nations—launched a CAR meme token to raise his country’s profile. The coin’s value has slumped by more than 97% since its launch.



<h2 class="wp-block-heading">Further Reading</h2>



<a href="https://www.forbes.com/sites/siladityaray/2025/02/25/bitcoin-slips-below-90000-down-nearly-20-from-trumps-inauguration-day-all-time-high/">Bitcoin Slips Below $90,000—Down Nearly 20% From Trump’s Inauguration Day All-Time High</a>&nbsp;(Forbes)

Bitcoin on digital circuit board and graph

Bitcoin Slumps Below $80,000 As Crypto Rout Wipes Nearly All Post-Election Gains

<h2 class="wp-block-heading" id="h-topline">Topline</h2>



“Emilia Pérez” star Selena Gomez, billionaire media mogul Oprah Winfrey and Oscar winner Halle Berry are among the stars slated to present at the 97th Academy Awards on Sunday evening, though Harrison Ford is no longer slated to present after receiving a&nbsp;<a href="https://variety.com/2025/film/news/harrison-ford-no-longer-presenting-oscars-1236324484/" rel="noreferrer noopener" target="_blank">shingles</a>&nbsp;<a href="https://www.hollywoodreporter.com/movies/movie-news/harrison-ford-isnt-presenting-2025-oscars-shingles-diagnosis-1236151499/" rel="noreferrer noopener" target="_blank">diagnosis</a>&nbsp;Friday.



<h2 class="wp-block-heading" id="h-key-facts">Key Facts</h2>



In keeping with Oscars tradition, the four&nbsp;<a href="https://press.oscars.org/news/oscarr-winners-robert-downey-jr-cillian-murphy-davine-joy-randolph-and-emma-stone-return" rel="noreferrer noopener" target="_blank">acting winners</a>&nbsp;from last year’s ceremony—Emma Stone, Cillian Murphy, Da’Vine Joy Randolph and Robert Downey Jr.—will all return to the Dolby Theatre stage to present this year.



Stars from some of this year’s nominated movies will present, including Selena Gomez (“Emilia Pérez”), Margaret Qualley (“The Substance”), Lily-Rose Depp (“Nosferatu”), Elle Fanning (“A Complete Unknown”), Joe Alwyn (“The Brutalist”) and Bowen Yang (“Wicked”)—as well as Zoe Saldaña, who is nominated for Best Supporting Actress for “Emilia Pérez.”



Past Oscar winners and nominees who are set to present include Halle Berry, Ana de Armas, Penélope Cruz, Whoopi Goldberg, Scarlett Johansson, John Lithgow, Goldie Hawn, Sterling K. Brown, Andrew Garfield, Samuel L. Jackson and billionaire Oprah Winfrey.



Other celebrities who will present include Willem Dafoe, Ben Stiller, Amy Poehler, June Squibb, Connie Nielsen, Gal Gadot, Dave Bautista, Alba Rohrwacher and Rachel Zegler.



<h2 class="wp-block-heading" id="h-will-the-oscars-use-the-fab-5-presentations-this-year">Will The Oscars Use The “fab 5” Presentations This Year?</h2>



Academy CEO Bill Kramer and President Janet Yang&nbsp;<a href="https://variety.com/2025/film/news/oscars-remove-original-song-performances-1236282452/" rel="noreferrer noopener" target="_blank">announced</a>&nbsp;last month the “Fab 5” presentation—in which five previous Oscar winners honor each nominee in a given category one-by-one before presenting the award—would return for this year’s ceremony, though they did not specify which categories they would be for. The “Fab 5” presentation was used last year in the acting categories, in which previous winners, including Best Actress winners Jennifer Lawrence, Charlize Theron, Sally Field, Michelle Yeoh and Jessica Lange gave tributes to nominees Lily Gladstone, Annette Bening, Emma Stone, Sanda Hüller and Carey Mulligan, respectively.&nbsp;<a href="https://variety.com/2025/film/news/netflix-emilia-perez-oscar-campaign-karla-sofia-gascon-scandal-1236296776/" rel="noreferrer noopener" target="_blank">Variety reported</a>, citing anonymous sources, the “Fab 5” presentations will not be used in acting categories this year, and that the Academy made this decision before Best Actress nominee Karla Sofía Gascón&nbsp;<a href="https://www.forbes.com/sites/conormurray/2025/02/05/emilia-prez-director-disavows-karla-sofa-gascns-tweets-and-slams-actress-for-playing-the-victim-all-the-films-controversies-explained/">ignited controversy</a>&nbsp;over resurfaced tweets in which she made disparaging remarks about Islam, diversity at the Oscars and George Floyd. Variety reported the “Fab 5” presentation will instead be used in the Best Director category and several other unspecified categories.



<h2 class="wp-block-heading" id="h-when-are-the-oscars">When Are The Oscars?</h2>



The Academy Awards will air at 7 p.m. EST/4 p.m. PST on Sunday, March 2. The ceremony will broadcast live on ABC and will stream live on Hulu for the first time.



<h2 class="wp-block-heading" id="h-who-is-nominated-at-the-oscars">Who Is Nominated At The Oscars?</h2>



“Emilia Pérez,” a&nbsp;<a href="https://www.forbes.com/sites/conormurray/2025/02/05/emilia-prez-director-disavows-karla-sofa-gascns-tweets-and-slams-actress-for-playing-the-victim-all-the-films-controversies-explained/">controversial</a>&nbsp;musical about a Mexican cartel leader who undergoes a gender transition, leads the&nbsp;<a href="https://www.forbes.com/sites/conormurray/2025/01/23/oscar-nominations-2025-announced-emilia-prez-leads-with-13-nods-the-brutalist-and-wicked-get-10/">nomination tally</a>&nbsp;with 13 total. “Wicked” and “The Brutalist” follow with 10 each. Those three films, as well as “Anora,” “Conclave,” “A Complete Unknown,” “Dune: Part Two,” “I’m Still Here,” “Nickel Boys” and “The Substance,” are nominated for Best Picture, the ceremony’s biggest prize.



<h2 class="wp-block-heading" id="h-further-reading">Further Reading</h2>



<a href="https://www.forbes.com/sites/conormurray/2025/01/23/oscar-nominations-2025-announced-emilia-prez-leads-with-13-nods-the-brutalist-and-wicked-get-10/">Oscar Nominations 2025 Announced: ‘Emilia Pérez’ Leads With 13 Nods, ‘The Brutalist’ And ‘Wicked’ Get 10</a>&nbsp;(Forbes)



<a href="https://www.forbes.com/sites/conormurray/2024/11/15/conan-obrien-will-host-2025-oscars-heres-why-that-might-mean-fewer-trump-jokes/">Conan O’Brien Will Host 2025 Oscars—Here’s Why That Might Mean Fewer Trump Jokes</a>&nbsp;(Forbes)



<figure class="wp-block-image"><img decoding="async" src="https://sync.graph.bluecava.com/ds.png?p=4cb3430d-9dfd-11ef-a5fe-4201ac100015&amp;segment=forbeseval" alt=""/></figure>

31st Annual Screen Actors Guild Awards – Show

Who’s Presenting At The Oscars? Harrison Ford Drops Out—As Selena Gomez, Oprah Winfrey And More Will Reveal Academy Award Winners

The lights have always been on inside the so-called AI black boxes. Shifting commercial expectations and increasing awareness of the technology are seemingly changing the narratives. 



What if bias is actually fundamental to AI’s ability to work in the first place? Rules are imposed to, essentially, protect people, refine results and achieve specific goals but each rule can be seen as an introduction of bias. What needs to change is the implication that it is inherently bad.



“At the end of the day, you’re building a discerning machine and in order to discern, you need a filter and that, fundamentally, is bias,” says Alix Rübsaam, Vice President of Research, Expertise, Knowledge at Singularity.



It’s also important to understand how to use bias in the right ways and ensure AI delivers results that are relevant, which means prioritizing and understanding what data has been used to train the algorithm and why.



“It’s weird that we feel so defensive when it comes to our biases because these are what help us discern. Humans have biases because it is how our brains make sense of things. And if we pretend our AIs don’t have biases, we can’t optimize them or improve their ability to discern,” she says.



One could say that an algorithm used to determine specific results must have this. If the AI rejects the CV of a six-year-old applying for the role of CEO, the bias is relevant.



As Rübsaam points out, AI solution builders need to move away from the knee-jerk response that there should be bias-free algorithms but instead own up to the ones they have introduced because it defines the accuracy of the algorithm.



This then turns the conversation towards the concept of the AI black box – the ‘darkness’ that sits within the algorithms. IBM describes it as “an AI system whose internal workings are a mystery to its users”.



“For the last decade, some of the loudest voices in the AI space have always said [this]; that they don’t know why it does what it does,” says Rübsaam.



“AI has been given the data and trained itself and is now making decisions based on motivations that they cannot discern. This is just not true because there are always ways to either go in after the fact, or to build models that tell you why an AI does what it does.”



It has been technically possible all along – expensive and time-consuming, but possible. As Rübsaam points out, isn’t that the very purpose of AI?



“When you hear a problem described as complex, time-consuming and expensive, that’s exactly the type of problems we use AI for. It has never made sense to me that the AI black box has been such a predominant narrative.”



In 2019, Rübsaam alongside Ty Henkaline, an AI and data science expert who worked with her at Singularity, developed a model that allowed users to train their own algorithms and extrapolate all the decision-making that needs to go into making an AI before it even comes into existence.



It sheds some light on how human biases distort AI. People don’t realize they’re making biased decisions until they sit down with their hands in the code or how they select specific datasets.



“This can go wrong – recently a study showed the efficiency of facial recognition algorithms which analyzed across four quadrants; the AI’s abilities to detect whether a face was present was wildly skewed towards white male faces. The dataset given to AI was not statistically representative.”



This use case underscores the importance of knowing what you’re training your AI on, and what the parameters of the dataset are. Now, transparency itself has become a commodity.



Over the past year, companies like Anthropic and Microsoft have turned the light on inside AI, reportedly finding clues to how large language models (LLMs) work for the ‘greater good’.



Mark Zuckerberg released Llama 2 which he described as an open-source model. DeepMind came out with an open weights model called RecurrentGemma based on the Griffin architecture, and then NVIDIA released a paper which indicated that they would open not just the weights, but also the training data.



In the space of about six months, notable players in the industry started to increase transparency regarding their models.



“It’s an interesting time because I think we might finally be in a place to say maybe AI was never the black box we said it was; we just didn’t take the steps to do the analysis to actually discern it,” Rübsaam explains.



“It’s key to showing the bias [and] the weights in decision-making, which means we can improve the quality of AI and move away from universally applicable AI models.



“We can start thinking about how a particular solution matches the problem we’re trying to solve,” she concludes.

Artificial Intelligence warning danger in black box on network

‘Maybe It Was Never The Black Box We Said It Was’: Bias, Analysis And Relevance In The Evolving World Of AI

<h2 class="wp-block-heading" id="h-topline">Topline</h2>



Artificial intelligence powerhouse OpenAI announced its latest chat model Thursday, starting a limited roll out of GPT-4.5, which OpenAI chief Sam Altman called a “giant” and “expensive” model that “feels like talking to a thoughtful person.”



<h2 class="wp-block-heading" id="h-key-facts">Key Facts</h2>



OpenAI called GPT-4.5 its “largest and most knowledgeable model yet” in a&nbsp;<a href="https://cdn.openai.com/gpt-4-5-system-card.pdf" rel="noreferrer noopener" target="_blank">document</a>&nbsp;summarizing the new chatbot, saying user interaction with it feels more natural.



OpenAI said the new model features a broader knowledge base, better emotional intelligence and improved contextual understanding, noting the improvements make it well-suited for problem-solving, writing and programming tasks.



The new model supposedly has fewer hallucinations— a common euphemism for when AI models produce inaccurate or misleading results.



<h2 class="wp-block-heading" id="h-how-powerful-is-gpt-4-5">How Powerful Is Gpt-4.5?</h2>



GPT-4.5 has more than 10 times the amount of computational efficiency of GPT-4, according to the document, which means it takes less time and resources to solve a problem.



<h2 class="wp-block-heading" id="h-who-can-use-gpt-4-5">Who Can Use Gpt-4.5?</h2>



GPT-4.5 is only available to users subscribed to ChatGPT Pro, a $200 per month plan that gives users the highest level of access to OpenAI’s products. Altman said in a&nbsp;<a href="https://x.com/sama/status/1895203654103351462" rel="noreferrer noopener" target="_blank">tweet</a>&nbsp;OpenAI wanted to launch the new model on the ChatGPT Plus and ChatGPT Pro plans simultaneously, but could not due to a shortage of graphics processing units needed to support such a rollout. Altman added OpenAI will add tens of thousands of GPUs next week, allowing for GPT-4.5 to become available on the ChatGPT Plus plan, which is $20 per month.



<h2 class="wp-block-heading" id="h-forbes-valuation">Forbes Valuation</h2>



We estimate Altman’s net worth at&nbsp;<a href="https://www.forbes.com/profile/sam-altman/">$1.1 billion</a>, a figure established through the CEO’s investments in Reddit, Stripe and fusion power company Helion.



<h2 class="wp-block-heading" id="h-key-background">Key Background</h2>



The release of GPT-4.5 comes a little less than two years after OpenAI launched GPT-4 and just a few weeks after the company revealed “<a href="https://www.forbes.com/sites/antoniopequenoiv/2025/01/23/openais-operator-what-we-know-about-new-ai-assistant-capable-of-ordering-groceries-making-reservations/">Operator</a>,” an AI assistant designed to carry out tasks on the internet for users like grocery orders, ticket purchases and lecture downloads. OpenAI is also eyeing a funding round that could double its value to an eye-popping $340 billion. The funding round, if completed, would place OpenAI’s valuation far above competitors like the Elon Musk-owned xAI (valued at roughly $50 billion) and Amazon-backed AI firm Anthropic, which valued at $18 billion and is reportedly in talks for a funding round that would boost its valuation to $60 billion.



<h2 class="wp-block-heading" id="h-further-reading">Further Reading</h2>



<a href="https://www.forbes.com/sites/antoniopequenoiv/2025/01/30/openai-eyeing-funding-round-that-would-double-its-value-report-says/">OpenAI Eyeing Funding Round That Would Double Its Value, Report Says</a>&nbsp;(Forbes)



<a href="https://www.forbes.com/sites/antoniopequenoiv/2025/01/23/openais-operator-what-we-know-about-new-ai-assistant-capable-of-ordering-groceries-making-reservations/">OpenAI’s ‘Operator’: What We Know About New AI Assistant Capable Of Ordering Groceries, Making Reservations</a>&nbsp;(Forbes)

Tag: South Africa

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