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Semafor africa
🟡 Semafor Africa: No exit
In this edition: Why African startups need more ‘big exits,’ Nigeria’s latest anti-insurgency chief, a new maternal health fund, and remembering a Congolese-American philosopher.
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Africa’s startup ecosystem needs ‘big exits’ to grow
Investors must start realizing returns on their bets, a top official at the World Bank’s private investment arm told a summit of venture capitalists in Lagos.
Sally Hayden/SOPA Images/LightRocket via Getty Images
Ethiopia’s state-owned Ethio Telecom records lackluster IPO
The mobile operator sold only 10.7% of shares in its initial public offering aimed at boosting the country’s struggling economy.
Tiksa Negeri/Reuters
Analysis: Reframing an optimistic Africa
What if the world’s most untapped opportunity became the single story of Africa?
Ruth E. Carter, Best Costume Design winner for “Black Panther,” during the 91st Annual Academy Awards. Valerie Macon/AFP via Getty Images.
Will the next pope be African?
Three African cardinals are among the potential contenders to become the next leader of the Roman Catholic Church.
Guglielmo Mangiapane/Reuters
US State Department retains Africa bureau
Embassies and consulates on the continent could still be under threat, according to a leaked memo.
Joshua Roberts/File Photo/Reuters
Côte d’Ivoire’s main opposition leader disqualified from polls
Tidjane Thiam described the court’s decision as an ‘act of electoral vandalism.’
Luc Gnago/File Photo
How Trump’s trade war could bolster the Africa-China relationship
Kenyan President William Ruto heads to Beijing this week, the first African leader to be hosted by Xi Jinping since Washington unleashed its unprecedented global tariffs.
World Bank’s investment arm targets rise in African equity investments
The head of the IFC told Semafor the aim is to enable companies to grow without the “burden” of debt repayments.
Analysis: How to reform Africa’s top development bank
A month ahead of AfDB elections for a new president, an analyst writes about how he would sharpen the institution’s focus.
South Africa’s new US envoy targets ‘misinformation’
Mcebisi Jonas, a former deputy finance minister, was appointed this week amid mounting tensions between Pretoria and Washington.
Former Credit Suisse CEO runs for Côte d’Ivoire presidency
The country’s main opposition party overwhelmingly endorsed the 62-year-old, who previously served as a planning and development minister.
Nigerian fintech bets on UK diaspora with remittance push
Moniepoint launched a money transfer for Nigerians in Britain this week.
African investors led venture capital fundraising in 2024
Nearly a third of investors came from the continent last year, up from a fifth a decade earlier.
Cameroonian migrants fear for their safety after Trump ends US protected status
The US Department of Homeland Security said it was ending the Temporary Protected Status program for an estimated 7,900 Cameroonians from June.
Ghana’s gold regulator orders foreign players to leave market
The West African country is looking to curb smuggling and streamline gold trading by small-scale miners.
UK hosts peace talks on Sudan as conflict hits two-year mark
The UK foreign secretary said a lack of political will to end the conflict presented the biggest obstacle to its resolution.
Africa needs innovative financing solutions to prevent health systems from collapsing, say experts
Already fragile structures are coming under new pressure with the withdrawal of traditional donor aid.
Analysis: Sudan has an opportunity to turn the corner on war
On the second anniversary of a deadly conflict, the Sudan army is well-placed to make a strategic peace move but it’s more likely to risk a “perennial state of war.”