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Semafor Africa
🟡 Semafor Africa: A turning point?
In this edition: Senegal’s IMF fallout, the world’s biggest mining project, and incentivizing cities to do better.
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New malaria treatments show significant promise
Swiss drugmaker Novartis said a trial of its new treatment in 12 African countries had performed well.
Novartis’ new malaria medicine GanLum. Novartis/Handout via Reuters.
Trump’s call to miss Africa’s G20 only boosts China’s influence
Trump called it ‘disgraceful’ the event is being held in South Africa, the first African nation to host the summit.
Kevin Lamarque/Reuters
South Africa secures $925M city redevelopment funding
Services targeted include water, electricity, and waste, which have come under growing public scrutiny due to shortages and poor refuse collection.
Johannesburg workers remove informal structures occupied by people living on the streets. Alet Pretorius/Reuters.
South Africa’s Vodacom to use Starlink to expand mobile coverage
The partnership would likely deepen Starlink’s presence as a major African internet service provider.
Patrick Meinhardt/AFP via Getty Images
Ghana’s Asante receive 130 artifacts from UK, South Africa
Around 100 of the items were returned by the South African mining company AngloGold Ashanti, which had purchased them on the open market.
Ernest Ankomah/Getty Images
South Africa forecasts upbeat budget after better-than-expected revenue
Economists anticipate tax income to surpass the government’s projection, driven by strong commodity prices and a surge in mining profits.
South African Finance Minister Enoch Godongwana (right). Per-Anders Pettersson/Getty Images.
Senegal’s bonds fall after PM resists IMF calls to restructure debt
Senegal’s finances have been under pressure since $11 billion of unreported debt left by the last administration was found last year.
Botswana pushes for majority stake in De Beers
The move pits Botswana against Angola, which is also bidding to control the diamond mining giant.
Africa gets first continent-wide medical regulator
The launch is part of wide-ranging efforts to build up local pharmaceutical capacity and reduce dependence on foreign agencies and companies.
Gates Foundation pledges $1.4B for farmers hit by extreme weather
250 million people were displaced globally due to climate-related disasters over the past decade, found a UN report published on Monday.
South Africa says Trump’s G20 boycott is ‘regrettable’
Donald Trump said it was a ‘total disgrace’ that South Africa was hosting the summit and that no American official would attend.
Senegal’s PM calls IMF’s proposed debt restructure ‘a disgrace’
The IMF froze Senegal’s $1.8 billion program last year after its government disclosed hidden debts shortly after coming to power.
DR Congo suspends Chinese cobalt miner after chemical spill
Hundreds of Lubumbashi homes flooded with contaminated water in latest mining accident.
Trump’s threat to Nigeria is a wake-up call
Abuja must realize that the security and prosperity of Nigerians are the most important indicators of progress.
Ex-Vodacom executive Romeo Kumalo plans $200M AI fund
Kumalo said the fund aimed to “fuel founders who are building solutions that change lives and deliver meaningful, risk-adjusted returns.”
Tanzania’s internet shutdown cost economy $228M, monitoring group says
The shutdown has reignited worries about the use of state-ordered internet blackouts on the continent during elections or unrest.
Sudan’s RSF agrees to US and Arab-led ceasefire deal
The military-led government has not yet responded.
Nigeria issues $2.35B eurobond amid Trump threats
High demand for the offering, which attracted buy and sell orders of $13 billion, reflects confidence in Nigeria’s recent fiscal policies.