Bloomberg

2024-04-12 04:54:09 Cathie Wood’s Ark Investment Management announced it holds a stake in Silicon Valley artificial intelligence darling OpenAI, a bet that the nascent AI industry will remake the tech landscape. More here: https://bloom.bg/3VRmWFn

: David Paul Morris/Bloomberg Open / Comment

2024-04-11 16:09:31 Election hopes: Julius Malema, leader of South Africa’s leftist EFF, says he can offer investors something the country’s current rulers lack: clarity, consistency and transparency. https://bloom.bg/4atxlv7

Cocoa surge: With global prices for the commodity hitting $10,000 a ton, there's a rush to plant more trees in West Africa. https://bloom.bg/3vYDUXA

New listings: WeBuyCars gained on its trading debut on the Johannesburg Stock Exchange, marking the start of a potential revival in capital market activity after a years-long lull. https://bloom.bg/4cTZJZe

Sign up for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed at https://bloom.bg/3OsOf3y. Next Africa publishes every Tuesday and Friday. Open / Comment

2024-04-10 14:01:31 Declining support: Backing for South Africa’s ruling ANC plunges as former President Jacob Zuma's party gains, a new opinion poll shows. https://bloom.bg/4aSpvLH

Cedi woes: Ghana’s inflation rate climbed to a four-month high in March as a slump in the currency pushed up the cost of imports such as fuel and food. https://bloom.bg/43Rl9Ca

Funding startups: Netflix co-founder Reed Hastings and former Alphabet CEO Eric Schmidt's foundation are taking part in a funding round for an African solar irrigation startup. https://bloom.bg/3JgkkcB

Watch Africa Amplified for a deep dive into the region’s biggest stories: https://bloom.bg/3u0S3Cz Open / Comment

2024-04-09 14:51:16 Money rally: Zimbabwe’s ZiG strengthens a day after its debut, even as it disrupts commerce nationwide with banks, retailers and utilities battling to switch to the new unit. https://bloom.bg/3VSPbn8

Project funding: Guinea says shareholders involved in Simandou, the biggest untapped iron-ore reserve globally, have signed $15 billion in financing agreements for the project. https://bloom.bg/3xDhsDR

Jail time: Nigeria sends a Binance executive charged with tax evasion and fraud to prison ahead of trial in May. https://bloom.bg/3PTuT9b

Watch Africa Amplified for a deep dive into the region’s biggest stories: https://bloom.bg/3u0S3Cz Open / Comment

2024-04-08 15:40:29 New money: ZiG, Zimbabwe’s new currency, began trading on Monday as businesses struggled with the nation’s sixth attempt at introducing a revamped unit. https://bloom.bg/3xzWqGc

Billion dollar deals: Vivendi's Canal+ has made an all-cash formal offer for MultiChoice, valuing the broadcaster at $2.9 billion. https://bloom.bg/49usQ2r

Corruption charges: Former Central Bank of Nigeria Governor Godwin Emefiele pleads not guilty to new allegations of foreign-currency infractions brought against him by one of the country’s finance watchdogs. https://bloom.bg/43QgsZe

Watch Africa Amplified for a deep dive into the region’s biggest stories: https://bloom.bg/3u0S3Cz Open / Comment

2024-04-05 14:46:45 New currency: Zimbabwe replaces its battered dollar with a new gold-backed currency called ZiG. https://bloom.bg/3POzzx3

Energy solutions: South Africa picks a $300-million standalone battery project to boost energy supply. https://bloom.bg/3TO5HBV

Power play: Microsoft's Azure cloud business is set to be hit by a formal complaint from South African antitrust watchdogs. https://bloom.bg/3U8SS6Y

Watch Africa Amplified for a deep dive into the region’s biggest stories: https://bloom.bg/3u0S3Cz Open / Comment

2024-04-05 07:28:21 Apple laid off more than 600 employees in California as part of the decisions to end its car and smartwatch display projects, according to filings.

At least 87 of the people worked at an address corresponding to a secret Apple facility for its next-generation screen development. More here: https://bloom.bg/3TOyh6s

: Haiyun Jiang/Bloomberg Open / Comment

2024-04-04 14:12:28 Investment opportunities: BlackRock sees an opportunity to invest in Kenyan stocks, which have gone from the world’s worst performers in 2023 to the best this year. https://bloom.bg/4aonAi6

Wildlife threatened: A third of Africa’s gorillas, bonobos and chimpanzees are at risk because they live in areas that overlap with mining operations for metals critical to the global clean energy transition. https://bloom.bg/3xwDV5t

Surviving summer: Egypt is buying liquefied natural gas, a rare move by the fuel exporter to avoid shortages this summer. https://bloom.bg/3xnUpNm

Watch Africa Amplified for a deep dive into the region’s biggest stories: https://bloom.bg/3u0S3Cz Open / Comment

2024-04-04 10:37:04 Succession planning is kicking into high gear in India. Here are the 16 next-gen heirs preparing to lead some of India’s biggest businesses — including those belonging to the Ambani and Adani families https://bloom.bg/3TNKlF1 Open / Comment

2024-04-03 14:03:55 Human rights: Uganda’s Constitutional Court rejected a bid to overturn stringent anti-LGBTQ legislation that led the World Bank to suspend funding. https://bloom.bg/4am2Ze8

Money woes: Zimbabwe’s currency plunges to another record low as citizens rush to the safety of the US dollar ahead of an expected announcement on the fate of the local unit. https://bloom.bg/3U3JEJ8

Africa's largest refinery: Nigeria’s new mega-refinery will begin domestic gasoline deliveries in May, weaning Africa’s most populous country of costly petroleum imports. https://bloom.bg/3xlzmv3

Watch Africa Amplified for a deep dive into the region’s biggest stories: https://bloom.bg/3u0S3Cz Open / Comment