The U.S. Court of Appeals for the District of Columbia sided with major tech giants in a case concerning the alleged use of child labor in cobalt mines in the Democratic Republic of the Congo (DRC). According to Reuters, in a unanimous 3-0 decision, the court ruled that these companies, including Apple and Tesla, cannot be held liable for their involvement in cobalt sourcing. Cobalt sourcing is critical in producing lithium-ion batteries essential for numerous electronics and electric vehicles. The Lawsuit The lawsuit, brought forward by former child miners and
The Burns Brothers are making history with Africa’s first-ever African-American-owned private membership club. Their visionary enterprise, HQ, initially launched in Washington, DC, is now expanding to Nairobi, Kenya, setting a new precedent in the global business sphere. This expansion marks a significant milestone, as it is the first instance of a private membership club on the African continent owned by African Americans. “Africa’s burgeoning status as a global economic powerhouse, its projection to account for one-quarter of the world’s population by 2050, and Kenya’s emergence as a promising economic epicenter
Gerald Black, an acclaimed figure in the African tech ecosystem, has recently been appointed as a Partner at Black Ops and is launching a new initiative: Black Ops Catalyst. This marks a step in Black Ops’ mission to extend its influence across Africa’s tech landscape, emphasizing the importance of operators in shaping and scaling successful ventures. Meet Gerald Black With over a decade of experience as a founder and operator and a background in computer engineering, Gerald is no stranger to the tech world. His journey has seen him navigate the challenges of
Uber Technologies Inc. is set to invest in Nigerian startup Moove in a funding round that could reach up to $100 million, Bloomberg reports. Moove Founded in Lagos in 2020 by British-born Nigerian entrepreneurs Ladi Delano and Jide Odunsi, Moove has expanded its reach beyond its origins. The duo’s aim is to build the world’s largest integrated vehicle financing platform for mobility entrepreneurs. With its headquarters in Amsterdam, the company now operates across Africa, the UK, the UAE, and India. Moove’s innovative business model revolves around a unique credit-scoring system,
Showmax, a South African company, has surpassed Netflix to become the leading streaming platform in Africa. With a subscriber count of 2.1 million in Africa as of November 2023, surpassing Netflix’s 1.8 million, Showmax’s rise signifies a significant change in the region’s media consumption habits. Showmax Showmax is an online subscription video-on-demand service that launched in South Africa in August 2015. Its majority owner is MultiChoice, which owns 70% of the Showmax group, while NBCUniversal owns 30% in all territories except Nigeria. The platform’s content strategy, which focuses heavily on
Partech, a global technology investment firm, has closed its second Africa-focused fund, Partech Africa, at over €280 million ($300 million). Partech Africa The achievement surpasses its initial target of €230 million, marking Partech Africa as the largest fund dedicated to African startups. Partech Africa partners with entrepreneurs who combine technology and operational excellence to address large opportunities across the continent. The African startup landscape experienced a downturn in investment activities in 2023, with venture capital inflows decreasing to between $2.9 billion and $4.1 billion. This contrasted the $4.6 billion to
Women-led healthtech companies in Africa secured $52 million in funding in 2023, compared to just $2 million the year before, a report has found. The report by Salient Advisory shows findings on investment activity covering grant, equity, and debt investment for African healthtech startups in 2023. A Surge In Funding For Women-Founded Companies According to the 2023 Roundup Investments in African Healthtech report, gender financing gaps in African healthtech ecosystems narrowed in 2023. In 2022, women-founded companies received a mere $2 million, just 1.4% of all investment, but the following
South Africa is poised to make a significant move in the global digital economy by introducing digital nomad visas. These visas are aimed at attracting highly skilled professionals, particularly in the IT sector. The initiative, published by the Department of Home Affairs, aligns with President Cyril Ramaphosa’s vision of enhancing the country’s competitiveness and job creation. The Digital Nomad Visas The proposed digital nomad visas will allow remote workers, especially those employed by foreign companies, to live and work in South Africa. This move is expected to attract a number
Ethiopia has announced plans to ban the importation of fuel-powered vehicles, shifting its focus exclusively to electric vehicles (EVs). Alemu Sime, the Ethiopian Minister of Transport and Logistics, announced the bold move as part of the country’s comprehensive green mobility strategy. Electric Vehicles Only According to Sime, Ethiopia spent €6 billion ($7.6 billion) on petrol and diesel imports in 2023. Additionally, pollution levels in city centers due to cars are reportedly off the charts. Now, the government has decided to allow only EVs into the country by banning gasoline and diesel-powered
Black-owned, Philadelphia-based Win Win Coffee has launched a transformative technology platform to connect coffee farmers directly with buyers, creating a more ethical and streamlined process. Co-founded by Nikisha Bailey and Matthew Nam, Win Win Coffee has the vision to lead a coffee industry renaissance where every sip is a journey through the diverse narratives of the African diaspora. After Win Win Coffee was forced to close in 2020 due to pandemic restrictions, Bailey and Nam decided to source and produce their own brand of coffee. This gave them a look into the process of producing
