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Semafor africa

Africa’s climate change adaptation requires more private funding

Sub-Saharan Africa is particularly vulnerable to waves of displacement from extreme weather events, the United Nation warns.

Zimbabwe’s EV battery plant ambitions favor Chinese players over locals

Zimbabwe’s decision to ban raw lithium exports and encourage local processing is helping Chinese and western companies gain a foothold in its mining industry while putting local players at a competitive disadvantage.

Nigerian politician found guilty of organ harvesting plot in UK

A British court found the former senator, his wife, and a doctor guilty of a conspiracy to exploit a street trader for his kidney on Thursday.

People exit an underground station outside the Bank of England in the City of London financial district in London, Britain, March 23, 2023. REUTERS/Henry Nicholls

Defeated Nigeria presidential candidate Peter Obi files petition contesting result

Obi, a businessman and former governor of southeastern Anambra state, came third in last month’s election, which was won by Bola Tinubu.

Hedge fund seeking $11 billion from Nigeria admitted crimes in secret case

Nigeria’s financial stability is on the line in a legal battle where its opponent is claiming payments allegedly made to secure a contract are — simultaneously — both legal and illegal.

Who are the US aid worker and French journalist freed after being held hostage in West Africa?

U.S. Secretary of State Anthony Blinken visited Niger last week and announced $150 million in aid for the region.

US Secretary of State Antony Blinken poses for a photograph with members of the Niger Defence and Security Forces before departing Niger on Friday.

Ethiopia’s wheat exports risk food crisis

Ethiopia has been exporting wheat to boost its dwindling foreign currency reserves, raising concerns that it could deepen a looming food crisis.

An African unicorn backed by SVB, FTX, and Bezos said to explore sale

Days after disclosing the extent of its exposure as a customer and portfolio company of Silicon Valley Bank, pan-African fintech startup Chipper Cash is said to be considering a sale.

SVB's crash showed how closely Africa's startups are tied to Silicon Valley

Anxiety among African tech investors and founders over the collapse of Silicon Valley Bank last week drew attention to African startups’ reliance on banking relations abroad and increased consideration for home-grown solutions.

President Kagame softens stance on ‘Hotel Rwanda’ activist

Rwanda’s President Paul Kagame, in an exclusive interview with Semafor, suggested there is a way to move forward on the possible release of activist Paul Rusesabagina.

Nigerian fintech startups are working on a blacklist to stop rising fraud cases

Some of Nigeria’s largest fintech startups are quietly working on a joint strategy to tackle fraudulent transactions within their networks, starting with plans for a shared list of suspected criminals.

Authoritarian governments are dangerous but not "unbeatable," a new report says

While the trend of democratic decline continued across the world, "missteps by autocrats" offered hope that democracy may be reaching a turning point, according to report on international freedom.

World Bank nominee Ajay Banga prompts mixed response from Africa watchers

Africa-watchers have mixed feelings about the White House’s nomination of Ajay Banga to lead the World Bank. The former CEO of Mastercard is an atypical choice, coming from the private sector rather than the development finance world.

E-commerce startup blames Nigeria’s ‘post-election landscape’ for hundreds of lay offs

Alerzo, an e-commerce distributor of groceries to mom and pop retailers in Nigeria, has laid off hundreds of employees, three people familiar with the company told Semafor Africa.

Nigeria’s court overrules president to preserve validity of old banknotes

The Supreme Court ruled that the country’s three largest banknotes will remain legal tender until Dec. 31 this year.

What will a Tinubu presidency mean for Nigeria?

Bola Tinubu’s victory in Nigeria’s presidential election with just 37% of the vote has received a mixed response in the country, while analysts say the president-elect’s track record of raising taxes and delegating responsibility could foreshadow his approach to leading the country.

Nigeria Election: Tinubu wins most votes for president

Bola Tinubu, a former governor of Lagos state and political kingpin, has won the most votes in Nigeria’s presidential election, according to the national electoral commission.

Nigeria’s ruling party retains presidency as Tinubu is declared winner

Nigeria’s electoral commission on Wednesday (Mar. 1) declared Bola Tinubu the winner of the presidential election conducted on Feb. 25 in Africa’s largest democracy.