Your cheat sheet to working smarter with machines.



AI is rapidly disrupting Africa’s job market, many becoming redundant at a rapid rate while other roles are at risk because of AI’s ability to process large volumes of tasks across multiple skillsets and fields. It’s a challenging time–one that the World Economic Forum (WEF) has said will result in the loss of 85 million jobs. However, the WEF has also said AI will create 97 million new roles, particularly in the areas of AI development and human-AI collaboration.



Which means…learning how to use AI is fast becoming a critical skillset. The problem is that while the amount of information about AI is extensive, there aren’t very clear pathways to learning how to use it, tap into it, code with it, and make it your own. What AI platform should you use? How do you get it to work more efficiently? What constitutes a good prompt?



Mandla Mbonambi, CEO of Africonology, tells FORBES AFRICA why being polite to your AI is crucial: “Your AI pays attention to how you talk to it. If you speak harshly, it will give you a harsh answer. Mine, however, has been trained on politeness and warmth so it answers my questions with more detail, more insights.”



How to talk to your AI: Simple steps



It doesn’t matter which AI platform you use–the Meta chatbot in WhatsApp, Claude, Grok, ChatGPT, Microsoft Copilot, the Wix chatbot–you want to start your relationship with the platform on the right foot. While some, like Claude, don’t hold long-term memory, they do respond to politeness.



Negative remarks and poor communication will teach the AI that this is how you want to be treated. Your results won’t be poorer, they will just be direct. You ask for the code to build a website; it will give you the code. That’s it, though. It won’t try harder. So, be nice, it makes you feel nicer and your AI work harder.



Use these prompts:



<ul class="wp-block-list">
<li>Take a deep breath and let’s work on this problem one step at a time – supportive prompts like these <a href="https://www.scientificamerican.com/article/should-you-be-nice-to-ai-chatbots-such-as-chatgpt/#:~:text=The%20tone%20of%20a%20prompt,that%20require%20basic%20reasoning%20skills.">actually make an LLM more capable of solving problems</a>.</li>



<li>Please can you…Thank you…Researchers are calling this the ‘performance premium of politeness’. Your responses will have fewer mistakes and will be more thorough.</li>



<li>Could you please generate a report vs Generate a report</li>



<li>It’s so amazing that you can…Tell your AI that its abilities are amazing, and it will respond in kind.</li>



<li>I appreciate how much you know about Africa; can you tell me more about the Sahara? Start your prompts with praise.</li>
</ul>



Test it: Try using rude, polite, harsh or distant prompts and see how your AI responds.

AI chatbot conversation using artificial intelligence technology smart robot AI, Generative AI, Answer, Businessman using AI to generate something, Customer support, laptop, assistant, Chat interface.

‘I Appreciate How Much You Know About Africa’; Why It’s Important To Be Nice To Your AI

The continent made its fashion statement at the Met Gala, where, among prominent others, South Africa’s Dr Precious Moloi-Motsepe of AFI wore a gown designed by David Tlale that took over 60 hours to make. Also in attendance was billionaire Patrice Motsepe.



South African businesswoman and philanthropist Dr Precious Moloi-Motsepe was one of the key figures at this week’s Met Gala, representing African fashion at the Metropolitan Museum of Art in New York City.



Moloi-Motsepe, who is CEO and founder of Africa Fashion International (AFI), attended with her husband, South African businessman and billionaire Patrice Motsepe for the first time, dressed to the gala’s theme: Superfine: Tailoring Black Style.



The theme was inspired by cultural leader Monica L. Miller’s book Slaves to Fashion: Black Dandyism and the Styling of Black Diasporic Identity.



The accompanying Costume Institute exhibition, which opens to the public Saturday (May 10) until October 26, examines the historical and cultural emergence of the Black Dandy, from 18th-century depictions to modern-day representations.



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1024" height="683" src="https://cms.forbesafrica.com/wp-content/uploads/2025/05/GettyImages-2213645709.jpg" alt="" class="wp-image-65515" srcset="https://cms.forbesafrica.com/wp-content/uploads/2025/05/GettyImages-2213645709.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2025/05/GettyImages-2213645709-300x200.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2025/05/GettyImages-2213645709-768x512.jpg 768w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">(L-R) Patrice Motsepe and Precious Moloi-Motsepe. (Photo by Cindy Ord/MG25/Getty Images for The Met Museum/Vogue)</figcaption></figure>



This year’s Met Gala raised an unprecedented $31 million for the museum’s Costume Institute–the highest fundraising total in the event’s 77-year history.



Moloi-Motsepe, the Soweto-born fashion entrepreneur wore an elaborate off-the-shoulder beige and gold gown by South African designer David Tlale. “Normally, I like to work behind the scenes, but this was a special moment for AFI,” she said.



“As this year’s theme touched on African fashion, we had to be there. Some of our designers, such as Thebe Magugu, part of our AFI Fastrack alumni–and former LVHM (Louis Vuitton Moët Hennessy) Prize winner–are showcasing in the exhibition. It was also exciting to see (South African singer) Tyla on the host committee, as one of the most visible South Africans right now on the scene in fashion and music.”



Tlale detailed the exquisite cream and gold part-menswear gown that took over 60 hours to create. “The gown is almost a bit of architecture infused with tailoring with pants and a corset. And there’s another piece that looks like a jacket and lapel that is interspersed,” he explained to FORBES AFRICA.



“The cotton-blend fabric is developed in South Africa and is a preview of our Spring/Summer collection. The print is a collaboration with artist JDP (Jean du Plessis) fused with birds in an earthy cream beige.”



Motsepe-Moloi’s support of the Met Gala followed years of building international relationships through AFI’s initiatives. AFI has undergone a transformational 17-year journey.



AFI hosted the 2019 Condé Nast International Luxury Conference in Cape Town, where then-Vogue International editor Suzy Menkes and her team saw South African design talent firsthand.



“When the Met Gala organizers and Vogue thought about this year’s theme, they reached out to us, knowing how important it was to have an African perspective, and how the politics of dress from leaders like Nelson Mandela played a powerful and pivotal role.”



Ahead of the gala, AFI hosted an ‘Afro Dandy’ showcase at New York’s Moonlight Studios, with a menswear show from select African designers–in addition to the premiere of AFI’s first documentary.



The event was complemented by a panel discussion in collaboration with Harvard University’s Africa Center.



Moloi-Motsepe added: “We have provided a platform for African fashion to be taken seriously, to be seen, and to provide avenues for African fashion brands to reach markets. Africa to the world.”

The 2025 Met Gala Celebrating “Superfine: Tailoring Black Style” – Arrivals

When Africa’s Rich, Famous And Fashion-Forward Graced The Met Gala

<h2 class="wp-block-heading" id="h-topline">Topline</h2>



White smoke billowed from the Sistine Chapel just after 6 p.m. local time—indicating the cardinal electors have chosen a successor to Pope Francis, ending a two-day conclave more than two weeks after Francis died.



<h2 class="wp-block-heading" id="h-key-facts">Key Facts</h2>



The white smoke signifies a candidate received the necessary two-thirds majority vote to be elected pope, which likely occurred on the fourth ballot, following two failed ballets Thursday morning and one failed ballot Wednesday.



The new pope will be revealed once he appears on the balcony of St. Peter’s Basilica, which is expected to occur minutes after the white smoke appeared.



Bells tolled as the white smoke poured out from the Sistine Chapel, where thousands gathered in St. Peter’s Square and&nbsp;<a href="https://www.nytimes.com/live/2025/05/08/world/pope-conclave-news" rel="noreferrer noopener" target="_blank">chanted</a>, “Long live the pope!”



Cardinal&nbsp;<a href="https://apnews.com/live/conclave-pope-catholic-church-updates-5-8-2025#00000196-af5d-dcf7-a7fe-bffdad4b0000" rel="noreferrer noopener" target="_blank">Giovanni Battista Re</a>, dean of the College of Cardinals, who is 91 and above the age cutoff of 80 to participate in the conclave, previously told Italian news outlets he had hoped to see white smoke by Thursday evening.



<h2 class="wp-block-heading" id="h-why-did-day-one-of-the-conclave-take-so-long">Why Did Day One Of The Conclave Take So Long?</h2>



Wednesday’s vote took longer than most experts had predicted, as the first release of smoke took an&nbsp;<a href="https://www.reuters.com/world/europe/vatican-conclave-pick-new-pope-world-waits-white-smoke-2025-05-07/" rel="noreferrer noopener" target="_blank">hour longer</a>&nbsp;than the first black smoke in 2013 during the conclave that elected Pope Francis. Mathew Schmalz, editor of the Journal of Global Catholicism and College of the Holy Cross religious studies professor, told&nbsp;<a href="https://www.bbc.com/news/live/cn4we7prv4rt#player" rel="noreferrer noopener" target="_blank">BBC News</a>&nbsp;the lengthy wait for the first release of smoke may have been because of the large number of cardinals from around the world meeting one another for the first time, speculating the conclave could take one day longer than usual. Though it’s unclear why Wednesday’s vote took so long, Schmalz told the BBC he is “getting kind of nervous” about whether the conclave may have run into issues that will need to be smoothed out in the coming days. The conclave of 133 electors is the&nbsp;<a href="https://www.cnn.com/world/live-news/new-pope-conclave-day-one-05-07-25" rel="noreferrer noopener" target="_blank">largest</a>&nbsp;and most&nbsp;<a href="https://www.nytimes.com/interactive/2025/05/06/world/europe/cardinals-conclave-2025.html" rel="noreferrer noopener" target="_blank">globally diverse</a>&nbsp;in history, greater than the 115 electors that participated in the 2005 and 2013 conclaves, which may also cause a longer time for the vote.



<h2 class="wp-block-heading" id="h-who-are-the-leading-contenders-to-be-elected-pope">Who Are The Leading Contenders To Be Elected Pope?</h2>



There’s no clear frontrunner to win the papacy,&nbsp;<a href="https://www.nytimes.com/article/next-pope-francis-candidates.html" rel="noreferrer noopener" target="_blank">Vatican experts say</a>, though some of the cardinals considered to be prime candidates include Italy’s Pietro Parolin, the Vatican secretary of state who is considered more moderate than Francis, and the Philippines’s Luis Antonio Gokim Tagle, who has drawn comparisons to Francis for his liberal-leaning stances and his championing of the poor. Parolin and Tagle are the two leading contenders on various betting sites, including&nbsp;<a href="https://polymarket.com/event/who-will-be-the-next-pope" rel="noreferrer noopener" target="_blank">Polymarket</a>&nbsp;and&nbsp;<a href="https://kalshi.com/markets/kxnextpope/next-pope" rel="noreferrer noopener" target="_blank">Kalshi</a>, as bettors wage millions on the papal election. Other cardinals considered&nbsp;<a href="https://www.forbes.com/sites/tylerroush/2025/04/21/these-cardinals-are-the-top-candidates-to-succeed-pope-francis/">possible candidates</a>&nbsp;include several from Italy, Pierbattista Pizzaballa and Matteo Zuppi, as well as Congo’s Fridolin Ambongo, Hungary’s Peter Erdo, Ghana’s Peter Turkson and France’s Jean-Marc Aveline.



<h2 class="wp-block-heading" id="h-how-does-the-conclave-work-and-how-long-will-it-take">How Does The Conclave Work—and How Long Will It Take?</h2>



While secluded from the outside world,&nbsp;<a href="https://www.theguardian.com/world/2025/may/06/how-conclave-work-when-new-pope-chosen" rel="noreferrer noopener" target="_blank">cardinals</a>&nbsp;under the age of 80 will cast four votes each day until one candidate receives a two-thirds majority. The process begins Wednesday afternoon with mass at St. Peter’s Basilica, after which cardinals proceed to the Sistine Chapel to begin the conclave. Should no successor be chosen on a given day, cardinals spend the night in Vatican guesthouses to resume voting the next day. Each&nbsp;<a href="https://www.reuters.com/world/conclave-live-updates-cardinals-meet-elect-successor-pope-francis-2025-05-07/" rel="noreferrer noopener" target="_blank">cardinal</a>&nbsp;is assigned a desk affixed with papers that say, “Eligo in summum pontificem,” or, “I choose as supreme pontiff.”



<h2 class="wp-block-heading" id="h-how-do-they-announce-when-a-pope-has-been-chosen">How Do They Announce When A Pope Has Been Chosen?</h2>



After voting, the ballots are burned, and chemicals are added to produce either black smoke—indiciating no pope has been elected—or white smoke—meaning a pope has been chosen—from the Sistine Chapel. Vatican watchers gather to watch what color the smoke is after every vote.



<h2 class="wp-block-heading" id="h-why-is-this-conclave-important">Why Is This Conclave Important?</h2>



Papal experts have said the conclave could determine whether the Catholic Church continues down the path laid by Francis to become more&nbsp;<a href="https://www.cbsnews.com/news/pope-francis-lgbtq-catholics-conclave-new-pope/" rel="noreferrer noopener" target="_blank">progressive</a>, or whether a more conservative successor could be chosen and potentially roll back some of Francis’s reforms. Francis was notable, and divisive, for his stances striking a more welcoming tone toward LGBTQ Catholics and women in church leadership roles, which won some global praise but angered conservative critics. Cardinal Anders Arborelius of Sweden said some cardinals want to elect a successor “who can follow in the footsteps of Francis. Some others said, ‘No, no. Not at all,’” the&nbsp;<a href="https://www.nytimes.com/2025/05/07/world/europe/pope-francis-referendum.html" rel="noreferrer noopener" target="_blank">New York Times</a>&nbsp;reported, while Italian conservative Cardinal Camillo Ruini said there is a “need to return the church to Catholics.” Dean of the College of Cardinals, Giovanni Battista Re, said in a homily Wednesday the new pope will face a “difficult and complex turning point in history,” stating he prayed for a pope who leads “for the good of the church and of humanity.”



<h2 class="wp-block-heading" id="h-surprising-fact">Surprising Fact</h2>



Some cardinals have watched the movie “Conclave,” the papal drama that won an Oscar just two months ago, while prepping for the real thing,&nbsp;<a href="https://www.politico.eu/article/cardinals-watch-conclave-movie-for-real-life-guidance/" rel="noreferrer noopener" target="_blank">Politico reported</a>, citing a cleric involved in the conclave who said some cardinals found the film “remarkably accurate.” Viewership of “Conclave” spiked 283% within a day of Francis’s death, according to&nbsp;<a href="https://variety.com/2025/film/news/conclave-streaming-views-pope-francis-death-1236375240/" rel="noreferrer noopener" target="_blank">Luminate</a>.



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<h2 class="wp-block-heading" id="h-key-background">Key Background</h2>



<a href="https://www.forbes.com/sites/siladityaray/2025/04/21/pope-francis-has-died-the-vatican-says/">Francis died</a>&nbsp;at age 88 on Easter Monday, April 21, following a bout of health issues, which led to his longest hospital stay while pope. Francis was hospitalized earlier this year for bilateral pneumonia and bronchitis, and Vatican doctors said he died of cerebral stroke and irreversible heart failure.



<h2 class="wp-block-heading" id="h-further-reading">Further Reading</h2>



<a href="https://www.forbes.com/sites/tylerroush/2025/04/21/these-cardinals-are-the-top-candidates-to-succeed-pope-francis/">These Cardinals Are The Top Candidates To Succeed Pope Francis</a>&nbsp;(Forbes)



<a href="https://www.nytimes.com/interactive/2025/05/06/world/europe/cardinals-conclave-2025.html" rel="noreferrer noopener" target="_blank">The Church Is More Global Than Ever. What Does That Mean for the Next Pope?</a>&nbsp;(New York Times)

General view of the window of the main central loggia

New Pope Selected: White Smoke Billows From Sistine Chapel

<h2 class="wp-block-heading" id="h-topline">Topline</h2>



The papal conclave begins at the Vatican Wednesday, the secretive process by which cardinals seclude themselves for what could be several days as they elect a new leader for the Catholic Church, weeks after the death of Pope Francis.



<h2 class="wp-block-heading" id="h-key-facts">Key Facts</h2>



On Wednesday afternoon, 133 cardinal electors will gather in the Vatican’s Sistine Chapel and cast their first ballots in the papal election, a process that will continue until one candidate receives a two-thirds majority of the vote.



It’s unclear how long the conclave will take until a new pope is elected, though most recent conclaves have lasted two or three days.



A large majority of the cardinals participating in the conclave were appointed by Francis, in what is set to be the most&nbsp;<a href="https://www.nytimes.com/interactive/2025/05/06/world/europe/cardinals-conclave-2025.html" rel="noreferrer noopener" target="_blank">globally diverse</a>&nbsp;conclave ever, though papal experts say that does not mean Francis’s successor will be ideologically aligned with him, as some of his appointees hail from areas where the church is more conservative.



While participating in the conclave, cardinals will be secluded from the outside world: They were required to turn in their phones ahead of the conclave, and the Vatican has&nbsp;<a href="https://www.cnn.com/2025/05/05/europe/vatican-deactivating-phone-signal-conclave-intl-hnk" rel="noreferrer noopener" target="_blank">disabled</a>&nbsp;phone service.



<h2 class="wp-block-heading" id="h-who-are-the-leading-contenders-to-be-elected-pope">Who Are The Leading Contenders To Be Elected Pope?</h2>



There’s no clear frontrunner to win the papacy,&nbsp;<a href="https://www.nytimes.com/article/next-pope-francis-candidates.html" rel="noreferrer noopener" target="_blank">Vatican experts say</a>, though some of the cardinals considered to be prime candidates include Italy’s Pietro Parolin, the Vatican secretary of state who is considered more moderate than Francis, and the Philippines’s Luis Antonio Gokim Tagle, who has drawn comparisons to Francis for his liberal-leaning stances and his championing of the poor. Parolin and Tagle are the two leading contenders on various betting sites, including&nbsp;<a href="https://polymarket.com/event/who-will-be-the-next-pope" rel="noreferrer noopener" target="_blank">Polymarket</a>&nbsp;and&nbsp;<a href="https://kalshi.com/markets/kxnextpope/next-pope" rel="noreferrer noopener" target="_blank">Kalshi</a>, as bettors wage millions on the papal election. Other cardinals considered&nbsp;<a href="https://www.forbes.com/sites/tylerroush/2025/04/21/these-cardinals-are-the-top-candidates-to-succeed-pope-francis/">possible candidates</a>&nbsp;include several from Italy, Pierbattista Pizzaballa and Matteo Zuppi, as well as Congo’s Fridolin Ambongo, Hungary’s Peter Erdo, Ghana’s Peter Turkson and France’s Jean-Marc Aveline.



<h2 class="wp-block-heading" id="h-how-does-the-conclave-work-and-how-long-will-it-take">How Does The Conclave Work—and How Long Will It Take?</h2>



While secluded from the outside world,&nbsp;<a href="https://www.theguardian.com/world/2025/may/06/how-conclave-work-when-new-pope-chosen" rel="noreferrer noopener" target="_blank">cardinals</a>&nbsp;under the age of 80 will cast four votes each day until one candidate receives a two-thirds majority. The process begins Wednesday afternoon with mass at St. Peter’s Basilica, after which cardinals proceed to the Sistine Chapel to begin the conclave. Should no successor be chosen on a given day, cardinals spend the night in Vatican guesthouses to resume voting the next day. Each&nbsp;<a href="https://www.reuters.com/world/conclave-live-updates-cardinals-meet-elect-successor-pope-francis-2025-05-07/" rel="noreferrer noopener" target="_blank">cardinal</a>&nbsp;is assigned a desk affixed with papers that say, “Eligo in summum pontificem,” or, “I choose as supreme pontiff.”



<h2 class="wp-block-heading" id="h-how-do-they-announce-when-a-pope-has-been-chosen">How Do They Announce When A Pope Has Been Chosen?</h2>



After voting, the ballots are burned, and chemicals are added to produce either black smoke—indiciating no pope has been elected—or white smoke—meaning a pope has been chosen—from the Sistine Chapel. Vatican watchers gather to watch what color the smoke is after every vote.



<h2 class="wp-block-heading" id="h-why-is-this-conclave-important">Why Is This Conclave Important?</h2>



Papal experts have said the conclave could determine whether the Catholic Church continues down the path laid by Francis to become more&nbsp;<a href="https://www.cbsnews.com/news/pope-francis-lgbtq-catholics-conclave-new-pope/" rel="noreferrer noopener" target="_blank">progressive</a>, or whether a more conservative successor could be chosen and potentially roll back some of Francis’s reforms. Francis was notable, and divisive, for his stances striking a more welcoming tone toward LGBTQ Catholics and women in church leadership roles, which won some global praise but angered conservative critics. Cardinal Anders Arborelius of Sweden said some cardinals want to elect a successor “who can follow in the footsteps of Francis. Some others said, ‘No, no. Not at all,’” the&nbsp;<a href="https://www.nytimes.com/2025/05/07/world/europe/pope-francis-referendum.html" rel="noreferrer noopener" target="_blank">New York Times</a>&nbsp;reported, while Italian conservative Cardinal Camillo Ruini said there is a “need to return the church to Catholics.” Dean of the College of Cardinals, Giovanni Battista Re, said in a homily Wednesday the new pope will face a “difficult and complex turning point in history,” stating he prayed for a pope who leads “for the good of the church and of humanity.”



<h2 class="wp-block-heading" id="h-surprising-fact">Surprising Fact</h2>



Some cardinals have watched the movie “Conclave,” the papal drama that won an Oscar just two months ago, while prepping for the real thing,&nbsp;<a href="https://www.politico.eu/article/cardinals-watch-conclave-movie-for-real-life-guidance/" rel="noreferrer noopener" target="_blank">Politico reported</a>, citing a cleric involved in the conclave who said some cardinals found the film “remarkably accurate.” Viewership of “Conclave” spiked 283% within a day of Francis’s death, according to&nbsp;<a href="https://variety.com/2025/film/news/conclave-streaming-views-pope-francis-death-1236375240/" rel="noreferrer noopener" target="_blank">Luminate</a>.



<h2 class="wp-block-heading" id="h-key-background">Key Background</h2>



<a href="https://www.forbes.com/sites/siladityaray/2025/04/21/pope-francis-has-died-the-vatican-says/">Francis died</a>&nbsp;at age 88 on Easter Monday, April 21, following a bout of health issues, which led to his longest hospital stay while pope. Francis was hospitalized earlier this year for bilateral pneumonia and bronchitis, and Vatican doctors said he died of cerebral stroke and irreversible heart failure.



<h2 class="wp-block-heading" id="h-further-reading">Further Reading</h2>



<a href="https://www.forbes.com/sites/tylerroush/2025/04/21/these-cardinals-are-the-top-candidates-to-succeed-pope-francis/">These Cardinals Are The Top Candidates To Succeed Pope Francis</a>&nbsp;(Forbes)



<a href="https://www.nytimes.com/interactive/2025/05/06/world/europe/cardinals-conclave-2025.html" rel="noreferrer noopener" target="_blank">The Church Is More Global Than Ever. What Does That Mean for the Next Pope?</a>&nbsp;(New York Times)

Pope holding a Bible

Conclave Begins Today: What To Know About Secretive Election For Next Pope

The development comes exactly 120 days since President John Dramani Mahama returned to office, marking a critical checkpoint in his administration’s efforts to stabilize the economy after years of fiscal distress. 



Ghana’s consumer inflation eased for a fourth consecutive month in April, falling to 21.2% from 22.4% in March, as the country’s unexpectedly strong currency helped to reduce the cost of imports.



The Ghana Statistical Service attributed the slowdown to a deceleration in both food and non-food inflation, with prices rising by just 0.8% month-on-month.



“Food inflation remains the biggest price driver,” new Government Statistician Alhassan Iddrisu told reporters in Ghana’s capital, Accra, today.



Notably, non-food inflation dropped to 17.9% from 18.7%, while food inflation declined to 25% from 26.5%. The disinflationary trend was buoyed by a rally in the Ghanaian cedi, which has appreciated by nearly 16% against the U.S. dollar since early April, making it the world’s best-performing currency in that period. The stronger cedi has helped ease pressure on import prices in the import-dependent West African economy.



The inflation data offers a glimmer of hope for a nation that has struggled with high prices since 2021, when a deepening debt crisis triggered a dramatic collapse of the cedi. That collapse pushed inflation into double digits, far above the Bank of Ghana’s target band of 6% to 10%, and led to a loss of investor confidence.



Ghana, the world’s second-largest cocoa exporter and a key gold and oil producer, secured a $3 billion, three-year bailout program from the International Monetary Fund (IMF) in 2023 to address its fiscal and balance of payments crisis.



President John Dramani Mahama’s administration, elected on promises of economic renewal, pledged to stabilize the cedi, control inflation, and restore macroeconomic discipline through tighter monetary policy and targeted fiscal reforms.



As part of a broader economic revival plan outlined in the 2024 manifesto of the National Democratic Congress (NDC), his government pledged a series of immediate reforms. According to an internal progress tracker, 19 of the 28 flagship promises have been fulfilled, with two more in progress. However, key policy initiatives—including a 24-hour economy strategy, a review of vehicle taxes, a reassessment of the Customs Amendment Act of 2020, and a ban on political appointees acquiring state assets—are yet to be delivered.



Bank of Ghana Governor Johnson Asiama said at the March policy meeting that the central bank remains committed to a tight monetary stance and may consider rate cuts only if disinflation continues. He also surprised markets with an interest rate hike in March, citing persistent inflationary pressures.



Finance Minister Cassiel Ato Forson has forecast that inflation could fall to 11.9% by December if current policies are sustained, including significant reductions in government spending and increased support for the private sector.

Tall business tower at the center of Accra with beautiful blue skies

Ghana’s Inflation Eases To 21.2% Amid Cedi Surge, 120 Days Into Mahama’s Presidency

Zimbabwe is now set for one of its biggest cricket seasons in over two decades. 



There was a time not so long ago when cricket in Zimbabwe was deep in the doldrums, with the national team battling for fixtures against quality opponents and financial issues curtailing the progress of the game in the country.



But the last while has seen a gradual turnaround in fortunes and Zimbabwe is now set for one of its biggest seasons in over two decades, with South Africa and New Zealand both coming to play multi-format matches in the country.



South Africa have not toured Zimbabwe since 2014, while New Zealand were last there in 2016, so the return of two of the biggest names in global cricket will certainly be welcome.



&#8220;This is the biggest international home season we have had in years, and it is an incredible opportunity for our players to test themselves against two of the world&#8217;s cricketing powerhouses,&#8221; Zimbabwe Cricket Managing Director Givemore Makoni says.



&#8220;Hosting South Africa and New Zealand for both Test cricket and an exciting T20I Tri-Series is a fantastic development for the growth of the game in Zimbabwe.”



South Africa arrive first and play two Tests in Bulawayo from June 28 onwards. It will be a warm-up for the start of the new World Test Championship cycle, which begins the Proteas with an away series in Pakistan in October.



New Zealand then join the party for a Twenty20 International Tri-Series, where each team plays the other twice, with all the games being staged in Harare.



The two teams that accrue the most points from those games will play a final on July 26.



New Zealand will then stay on for two tests against Zimbabwe in Bulawayo.



Having already hosted Afghanistan and Ireland in Test this year, it will be the first time since 2001 that Zimbabwe will play six games in the longest format at home in a calendar year.



Back then, they hosted two tests each against India, South Africa, West Indies and Bangladesh in a matter of months in what was a different time for the sport in the country before its decline.



Before this year’s incoming tour, Zimbabwe have also been granted a one-off Test in England from May 22-25. It is the first time they play a five-day game in England since 2003 and just the fifth time ever.



International Cricket Council (ICC) chairman Jay Shah recently visited Zimbabwe and was positive about the country’s future.



&#8220;I think Zimbabwe has the potential to go back to top performance like in the early 1990s,&#8221; Shah said.

Cricketer silhouette on Zimbabwe blurred flag background

Zimbabwe Set for Historic Home Season: Will Welcome Back Cricketing Giants

<h2 class="wp-block-heading" id="h-topline">Topline</h2>



India launched missile strikes in Pakistan early on Wednesday, two weeks after it accused Pakistan of being involved in a&nbsp;<a href="https://www.forbes.com/sites/siladityaray/2025/04/30/pakistan-claims-credible-evidence-india-is-planning-military-action-soon-as-tensions-rise-between-neighbors/">terrorist attack</a>&nbsp;on the tourist town of Pahalgam that killed over two dozen people.



<h2 class="wp-block-heading">Key Facts</h2>



The Indian Ministry of Defense said in a&nbsp;<a href="https://x.com/SpokespersonMoD/status/1919857186655944825" rel="noreferrer noopener" target="_blank">statement</a>&nbsp;said the strikes targeted “nine terrorist infrastructure sites in Pakistan and Pakistan-occupied Jammu and Kashmir,” and added that they were “focused, measured and non-escalatory in nature.”



India claimed no Pakistani military facilities were hit by the strike and said the military operation, which it has dubbed “Operation Sindoor,” underscores India’s “resolve to hold perpetrators accountable while avoiding unnecessary provocation.”



Pakistani officials&nbsp;<a href="https://mofa.gov.pk/press-releases/pakistan-strongly-condemns-indias-blatant-aggression" rel="noreferrer noopener" target="_blank">denounced</a>&nbsp;the strikes, calling them “an unprovoked and blatant act of war” that had “violated Pakistan’s sovereignty.”



In a Wednesday morning press conference, India’s Foreign Secretary Vikram Misri&nbsp;<a href="https://www.youtube.com/watch?v=gni7uALDpb0" rel="noreferrer noopener" target="_blank">claimed</a>&nbsp;the government’s intelligence assessment indicated further attacks were being planned against India and with the strikes New Delhi “exercised its right to respond and pre-empt as well as deter such more cross-border attacks.”



Lieutenant Gen. Ahmed Sharif Chaudhry, the head of the Pakistani military’s public relations arm,&nbsp;<a href="https://www.dawn.com/live/pakistan-india-tensions#1909022" rel="noreferrer noopener" target="_blank">told reporters</a>&nbsp;that the Indian strikes had killed 26 civilians and left 46 others injured as of Wednesday morning.



Sharif also restated an earlier claim by the Pakistan military that neither countries jets trespassed each other’s territories and the Indian airstrikes were conducted from their own airspace and struck multiple cities including Bahawalpur, Kotli and Muzaffarabad.



The Pakistan military also claimed without sharing evidence that it had shot down five Indian fighter jets—a claim Indian authorities have not commented on but Associated Press&nbsp;<a href="https://apnews.com/live/india-pakistan-attack-pahalgam-kashmir#00000196-a939-da24-adf6-edff0dec0000" rel="noreferrer noopener" target="_blank">reported</a>&nbsp;that two planes fell onto villages in India-controlled Kashmir.



<h2 class="wp-block-heading">How Have World Leaders Reacted To The India Strikes?</h2>



Shortly after India announced the strikes, President Donald Trump&nbsp;<a href="https://x.com/RapidResponse47/status/1919863923961962905" rel="noreferrer noopener" target="_blank">told reporters</a>&nbsp;at the Oval Office that he had just been informed about it and said: “It&#8217;s a shame…I guess people knew something was going to happen based on a little bit of the past. They&#8217;ve been fighting for a long time…I hope it ends very quickly.” Secretary of State Marco Rubio&nbsp;<a href="https://x.com/SecRubio/status/1919902403999965441" rel="noreferrer noopener" target="_blank">tweeted</a>&nbsp;that he was monitoring the situation closely and said: “I echo @POTUS&#8217;s comments earlier today that this hopefully ends quickly and will continue to engage both Indian and Pakistani leadership towards a peaceful resolution.” China’s foreign ministry said India’s military operation was “regrettable” and added: “We urge both sides to act in the larger interest of peace and stability, remain calm, exercise restraint and refrain from taking actions that may further complicate the situation.” Israel’s ambassador to India, Reuven Azar,&nbsp;<a href="https://x.com/ReuvenAzar/status/1919936131866513678" rel="noreferrer noopener" target="_blank">tweeted</a>: “Israel supports India’s right for self defense. Terrorists should know there’s no place to hide from their heinous crimes against the innocent.” A spokesperson for United Nations Secretary-General Antonio Guterres&nbsp;<a href="https://www.reuters.com/world/un-chief-raises-concern-about-indian-military-actions-pakistan-2025-05-06/" rel="noreferrer noopener" target="_blank">said he is very concerned</a>&nbsp;about the Indian military operation and is calling for “maximum military restraint” from both sides. He then added: “The world cannot afford a military confrontation between India and Pakistan.”



<h2 class="wp-block-heading">News Peg</h2>



Tensions between India and Pakistan, nuclear-armed nations, have risen in recent weeks following the&nbsp;<a href="https://www.forbes.com/sites/siladityaray/2025/04/30/pakistan-claims-credible-evidence-india-is-planning-military-action-soon-as-tensions-rise-between-neighbors/">attack on Pahalgam</a>&nbsp;in April that killed 26 people, all of one of whom were Indian nationals. The attack on the city, which is located in an Indian-controlled part of Kashmir, was carried out after the neighboring countries had been exchanging gunfire along their border the week prior. India accused Pakistan of involvement in the Pahalgam attack, with Pakistan calling the allegations “baseless and concocted.” India later vowed to retaliate and Tarar said military action from India would be “responded to assuredly and decisively.” The U.S. has aligned itself with India in the growing conflict, with Trump saying India has “our full support and deepest sympathies.”



<h2 class="wp-block-heading">Key Background</h2>



India and Pakistan have been&nbsp;<a href="https://www.nytimes.com/2025/05/05/world/asia/india-pakistan-kashmir-history.html" rel="noreferrer noopener" target="_blank">at odds for several decades</a>, with the contested border region of Kashmir becoming a flashpoint in several conflicts between the two countries. Three wars have been fought over the area, with the most recent violent outburst between India and Pakistan happening in 2019, when India launched airstrikes against Pakistan after blaming the country for a suicide bombing that killed 40 Indian paramilitary personnel in Kashmir.



<h2 class="wp-block-heading">Further Reading</h2>



<a href="https://www.forbes.com/sites/siladityaray/2025/04/30/pakistan-claims-credible-evidence-india-is-planning-military-action-soon-as-tensions-rise-between-neighbors/">Pakistan Claims ‘Credible Evidence’ India Is Planning ‘Military Action’ Soon—As Tensions Rise Between Neighbors</a>&nbsp;(Forbes)



<a href="https://www.nytimes.com/2025/05/05/world/asia/india-pakistan-kashmir-history.html" rel="noreferrer noopener" target="_blank">A Timeline of Tensions Between India and Pakistan Over Kashmir</a>&nbsp;(New York Times)

India Launches Military Strikes Against Pakistan

India Launches Missile Strikes Into Pakistan—Islamabad Calls It ‘Act Of War’ (Live Updates)

<h2 class="wp-block-heading" id="h-topline">Topline</h2>



Ferrari on Tuesday said tariffs imposed by the U.S. pose a potential risk to the luxury car maker’s profitability, becoming the latest company to warn about a hit to earnings or cut financial forecasts as many cite market uncertainty aggravated by President Donald Trump’s levies.



<h2 class="wp-block-heading" id="h-timeline">Timeline</h2>



May 6 Ferrari <a href="https://www.ferrari.com/en-BY/corporate/articles/2025-ferrari-first-quarter-results?amp=truehttps://www.ferrari.com/en-BY/corporate/articles/2025-ferrari-first-quarter-results?amp=truehttps://www.ferrari.com/en-BY/corporate/articles/2025-ferrari-first-quarter-results?amp=truehttps://www.ferrari.com/en-BY/corporate/articles/2025-ferrari-first-quarter-results?amp=truehttps://www.ferrari.com/en-BY/corporate/articles/2025-ferrari-first-quarter-results?amp=truehttps://www.ferrari.com/en-BY/corporate/articles/2025-ferrari-first-quarter-results?amp=truehttps://www.ferrari.com/en-BY/corporate/articles/2025-ferrari-first-quarter-results?amp=truehttps://www.ferrari.com/en-BY/corporate/articles/2025-ferrari-first-quarter-results?amp=true" target="_blank" rel="noreferrer noopener">noted</a> in its first-quarter financial report the company was subject to a “potential risk” of a 50 basis points reduction to earnings in 2025, as the luxury car maker cited the “introduction of import tariffs on [European] cars” into the U.S.



May 5 Mattel’s CEO Ynon Kreiz <a href="https://www.wsj.com/business/retail/mattel-earnings-q1-2025-mat-stock-2148c5a7" target="_blank" rel="noreferrer noopener">reportedly</a> said “it’s hard to tell where things will land and how the tariff situation will evolve,” and the toy company announced it is pausing its full-year guidance until it “has sufficient visibility, given the volatile macro-economic environment and evolving U.S. tariff situation,” and may raise prices of its toys “where necessary.”



May 5 Ford <a href="https://s205.q4cdn.com/882619693/files/doc_financials/2025/q1/Ford-Q1-2025-Earnings-Press-Release.pdf" target="_blank" rel="noreferrer noopener">announced</a> it expects tariffs to reduce its earnings before interest and taxes by about $1.5 billion in 2025, and said it is suspending its full-year guidance, citing “the potential for industrywide supply chain disruption impacting production” along with “the potential for future or increased tariffs in the U.S.,” potential retaliatory tariffs by other countries and more.



May 5 Cummins <a href="https://investor.cummins.com/news/detail/680/cummins-reports-first-quarter-2025-results" target="_blank" rel="noreferrer noopener">withdrew</a> its forecast for 2025, as CEO Jennifer Rumsey said the truck engine maker faced “growing economic uncertainty driven by tariffs” and as customers endured an “increasingly challenging environment.”



May 1 Apple CEO Tim Cook <a href="https://www.forbes.com/sites/dereksaul/2025/05/01/apple-earnings-better-iphone-sales-and-profit-than-expected-as-it-steps-through-tariff-minefields/">said</a> the company expects Trump’s tariffs will cause a $900 million hit to the company’s bottom line during its second quarter, saying it will be “very difficult” to predict beyond June “because I’m not sure what will happen with tariffs,” as Apple’s sales in China dropped below projections.



May 1 Amazon said in its first quarter earnings <a href="https://www.forbes.com/sites/dereksaul/2025/05/01/amazon-tops-q1-earnings-estimates-but-stock-slides-on-soft-guidance/">report</a> Thursday that its future results are “inherently unpredictable” because of factors including “changes in global economic and geopolitical conditions” and “tariff and trade policies,” the latter of which was a not a reason included in its last quarter report.



May 1 General Motors, which <a href="https://investor.gm.com/static-files/78278d1e-0f28-46cd-8fe2-5438fc43d374" target="_blank" rel="noreferrer noopener">earlier</a> said it would reassess its financial guidance for 2025 to include the “potential impact of tariffs,” <a href="https://investor.gm.com/static-files/644a15dc-b57c-4e91-821d-b81baa99246b" target="_blank" rel="noreferrer noopener">lowered</a> its forecast for earnings to between $10 billion and $12.5 billion, down from $13.7 billion to $15.7 billion, as CEO Mary Barra <a href="https://investor.gm.com/news-releases/news-release-details/q1-2025-letter-shareholders" target="_blank" rel="noreferrer noopener">said</a> the company was adjusting to “the new trade policy environment.”



May 1 McDonald’s <a href="https://corporate.mcdonalds.com/content/dam/sites/corp/nfl/pdf/Q1_25_Earnings_Release.pdf" target="_blank" rel="noreferrer noopener">reported</a> a 3.6% decline in U.S. same-store sales through its first quarter in 2025, the largest decrease since an 8.7% dip in 2020, as the fast food giant said consumers were “grappling with uncertainty.”



April 30 Stellantis <a href="https://www.stellantis.com/content/dam/stellantis-corporate/news/press-releases/2025/april/30-04-25/en/EN-20250430-Stellantis-Q12025-Results.pdf" target="_blank" rel="noreferrer noopener">suspended</a> its full-year financial guidance for the 2025 fiscal year because of “tariff-related uncertainties,” and noted the company was “highly engaged with policymakers” about tariffs and has “[taken] action to reduce impacts.”



April 30 Mercedes <a href="https://www.businesswire.com/news/home/20250429364723/en/Mercedes-Benz-Group-Delivers-Solid-Q1-Results-in-a-Dynamic-Market-Environment" target="_blank" rel="noreferrer noopener">pulled</a> its full-year outlook for the 2025 fiscal year because the “volatility with regard to tariff policies” had become “too high to reliably assess” the automaker’s business development for the remainder of the year, adding estimates could not be made “with the necessary level of certainty.”



April 29 UPS <a href="https://www.forbes.com/sites/tylerroush/2025/04/29/ups-to-cut-20000-jobs-in-2025-after-slashing-amazon-shipments/">pulled</a> its full-year guidance after previously forecasting revenue of $89 billion for 2025, citing the “current macro-economic uncertainty” as the shipping giant also announced it would lay off 20,000 workers by the end of the year.



April 29 Kraft Heinz CEO Abrams-Rivera said the company had <a href="https://ir.kraftheinzcompany.com/news/kraft-heinz-reports-first-quarter-2025-results/4e5e664b-9b79-4a92-8553-0a5ef4db87ad" target="_blank" rel="noreferrer noopener">lowered</a> its full-year outlook as the “operating environment remains volatile,” and they would monitor the “potential impacts from macro-economic pressures such as tariffs and inflation.”



April 29 JetBlue CEO Joanna Geraghty <a href="https://news.jetblue.com/latest-news/press-release-details/2025/JetBlue-Announces-First-Quarter-2025-Results/default.aspx" target="_blank" rel="noreferrer noopener">announced</a> the company had pulled its full-year outlook for 2025 because of “macroeconomic uncertainty,” while JetBlue president Marty St. George said the airline expected “softened demand” to continue.



April 29 Snap <a href="https://investor.snap.com/news/news-details/2025/Snap-Inc--Announces-First-Quarter-2025-Financial-Results/default.aspx" target="_blank" rel="noreferrer noopener">declined</a> to issue guidance for its second quarter, as the company behind Snapchat said “uncertainty with respect to how macro economic conditions may evolve in the months ahead” could impact advertising demand.



April 29 Volvo <a href="https://www.media.volvocars.com/global/en-gb/media/pressreleases/348799/volvo-cars-reports-q1-2025-results-launches-sek-18-billion-cost-and-cash-action-plan" target="_blank" rel="noreferrer noopener">warned</a> 2025 would be a “challenging and transition year” as a result of “macroeconomic, geopolitical and market developments,” including the effects of tariffs on profits, while pulling its guidance for the year and 2026.



April 24 PepsiCo <a href="https://investors.pepsico.com/docs/default-source/investors/q1-2025/q1-2025-earnings-release_qrwd2bctzikuphl4.pdf" target="_blank" rel="noreferrer noopener">lowered</a> its earnings forecast for 2025 as the company expects “more volatility and uncertainty,” CEO Ramon Laguarta said, as PepsiCo said it faces higher supply chain costs because of tariffs, “elevated macroeconomic volatility and a subdued consumer backdrop.”



April 24 Procter &amp; Gamble, the owner of Tide and Charmin, among others, <a href="https://pginvestor.com/financial-reporting/press-releases/news-details/2025/PG-Announces-Fiscal-Year-2025-Third-Quarter-Results/default.aspx" target="_blank" rel="noreferrer noopener">lowered</a> its sales growth projections for the year despite previously expecting growth up to 4% in 2025, while CEO Jon Moeller warned of a “challenging and volatile consumer and geopolitical environment.”



April 24 American Airlines CEO Robert Isom <a href="https://www.forbes.com/sites/suzannerowankelleher/2025/04/24/negative-bias-american-airlines-pulls-2025-guidance-citing-significant-weakness-in-domestic-travel-demand/">told</a> investors the airline was “taking a very cautious, even a negative approach to growth” after pulling its full-year guidance, while CFO Devon May said economic uncertainty worsened by Trump’s tariffs brought “significant weakness in our main cabin demand.”



April 24 Skechers <a href="https://investors.skechers.com/press-releases/detail/663/skechers-announces-first-quarter-2025-financial-results-and" target="_blank" rel="noreferrer noopener">pulled</a> its full-year outlook while citing “macroeconmic uncertainty stemming from global trade policies,” as CFO John Vandemore likened the economic environment to the pandemic.



April 23 Thermo Fisher Scientific <a href="https://ir.thermofisher.com/investors/news-events/news/news-details/2025/Thermo-Fisher-Scientific-Reports-First-Quarter-2025-Results/" target="_blank" rel="noreferrer noopener">withdrew</a> its full-year profit forecast while the medical equipment maker expects to take a $400 million hit in sales to China, as Trump’s tariffs would likely raise the cost of parts the company sources in China.



April 23 Chipotle, which reported same-store sales well below analyst expectations, according to FactSet, lowered its full-year same-store sales growth for the year because the company expects customers to spend less as concerns about the economy became “overwhelming,” CEO Scott Boatwright <a href="https://seekingalpha.com/article/4777419-chipotle-mexican-grill-inc-cmg-q1-2025-earnings-call-transcript" target="_blank" rel="noreferrer noopener">told</a> investors.



April 23 Alaska Airlines <a href="https://news.alaskaair.com/company/alaska-air-group-reports-first-quarter-2025-results/" target="_blank" rel="noreferrer noopener">pulled</a> its full-year 2025 guidance because of “recent economic uncertainty and volatility.”



April 23 Southwest Airlines, while maintaining some of its projections for its second quarter, <a href="https://www.southwestairlinesinvestorrelations.com/news-and-events/news-releases/2025/04-23-2025-213818530" target="_blank" rel="noreferrer noopener">withdrew</a> guidance for 2025 in its first-quarter report while citing “macroeconomic uncertainty” that makes it “difficult to forecast given recent and short-lived booking trends.”



April 15 United Airlines <a href="https://www.united.com/en/us/newsroom/announcements/cision-125378" target="_blank" rel="noreferrer noopener">held</a> its full-year forecast, though the company also issued a second guidance featuring far lower earnings in 2025 because United believes the economy is “impossible to predict this year with any degree of confidence.”



April 11 Logitech <a href="https://ir.logitech.com/press-releases/press-release-details/2025/Logitech-Announces-Q4-and-Full-Fiscal-Year-2025-Results/default.aspx" target="_blank" rel="noreferrer noopener">withdrew</a> its outlook for its 2026 fiscal year because of the “continuing uncertainty surrounding the tariff environment.”



April 9 Walmart <a href="https://corporate.walmart.com/news/2025/04/09/walmart-showcases-business-strategy-focused-on-driving-growth-and-shareholder-value" target="_blank" rel="noreferrer noopener">announced</a> it would pull forecasts for operating income in its upcoming first-quarter report on May 15, as the “range of outcomes” grew as Trump’s tariffs were implemented in trade.



April 9 Delta, after previously cutting first-quarter earnings projections by 40 to 50 cents a share, pulled its full-year guidance “given the broad macro uncertainty,” as it was “premature to project the full year,” the airline and CEO Ed Bastian <a href="https://www.forbes.com/sites/suzannerowankelleher/2025/04/09/delta-pulls-full-year-guidance-economic-uncertainty/">said</a>.



<h2 class="wp-block-heading" id="h-have-trump-s-tariffs-resulted-in-layoffs">Have Trump’s Tariffs Resulted In Layoffs?</h2>



Several companies have announced&nbsp;<a href="https://www.forbes.com/sites/tylerroush/2025/04/22/tariff-layoff-tracker-mack-trucks-volvo-cut-hundreds-of-jobs-as-trumps-levies-pose-market-uncertainty/">layoffs</a>&nbsp;while citing the impact of Trump’s tariffs. Mack Trucks and Volvo Group told Forbes earlier this month that a combined 800 employees were laid off at facilities on the East Coast, with both automakers citing “market uncertainty,” the likelihood of “possible regulatory changes” and the “impact of tariffs.” Stellantis and Estée Lauder also announced layoffs. Goldman Sachs wrote in a note on April 15 that about 100,000 manufacturing jobs would be created because of Trump’s tariffs, though they would also likely remove up to 500,000 jobs across all industries.



<h2 class="wp-block-heading" id="h-key-background">Key Background</h2>



Trump levied tariffs across U.S. trade partners during his so-called “Liberation Day” earlier this month. A 90-day pause on the tariffs was announced on April 9, though a baseline 10% would remain, except for China, whose imports face 145% tariffs. The White House&nbsp;<a href="https://www.forbes.com/sites/alisondurkee/2025/04/29/trump-offers-automakers-tariff-reprieve-latest-big-tariff-flip-flop-since-liberation-day/">said</a>&nbsp;Tuesday that Trump would also offer a reprieve to automakers by exempting them from paying additional tariffs, like those on steel and aluminum. Some industry leaders have said Trump’s tariffs would raise consumer prices and create market volatility, including Ford CEO Jim Farley, who&nbsp;<a href="https://www.freep.com/story/money/cars/ford/2025/02/11/ford-ceo-jim-farley-tariffs-auto-industry/78414492007/" rel="noreferrer noopener" target="_blank">warned</a>&nbsp;Trump’s 25% tariffs on imported cars and car parts would “blow a hole in the U.S. industry that we’ve never seen.” Vice President JD Vance&nbsp;<a href="https://www.forbes.com/sites/alisondurkee/2025/04/22/will-trump-negotiate-tariffs-jd-vance-says-president-wants-to-rebalance-global-trade-but-no-deals-reached-yet/">said</a>&nbsp;the Trump administration is trying to “rebalance global trade” as the U.S. carries out tariff negotiations. Vance suggested the U.S. “want[s] to partner with people and countries” to create “a system of global trade that is balanced, one that is open, and one that is stable and fair.”



<h2 class="wp-block-heading" id="h-further-reading">Further Reading</h2>



<a href="https://www.forbes.com/sites/tylerroush/2025/04/22/tariff-layoff-tracker-mack-trucks-volvo-cut-hundreds-of-jobs-as-trumps-levies-pose-market-uncertainty/">Tariff Layoff Tracker: Mack Truck, Volvo Cut Hundreds Of Jobs As Trump’s Levies Pose ‘Market Uncertainty’</a>&nbsp;(Forbes)



<a href="https://www.forbes.com/sites/alisondurkee/2025/04/29/trump-offers-automakers-tariff-reprieve-latest-big-tariff-flip-flop-since-liberation-day/">Trump Offers Automakers Tariff Reprieve—Latest Big Tariff Flip-Flop Since ‘Liberation Day’</a>&nbsp;(Forbes)

Lewis Hamilton Tests For Ferrari

Ferrari Says Tariffs May Reduce Profits—Joining These Companies Warning Of Tariff Impacts

Aliko Dangote, Africa’s richest man, recently announced the launch of a large-scale sugar refinery in Ghana that is set to more than double the country’s formally irrigated farmland through a single initiative.



The Dangote Sugar Refinery, located in Kwame-Danso in Ghana’s Bono Region, will reportedly bring 25,000 hectares of farmland under irrigation to support industrial-scale sugarcane cultivation.



This represents a boost to Ghana’s formal irrigation network, which currently covers just 19,000 hectares under public schemes, according to Joseph Nartey, Deputy Director of Operations at the Ghana Irrigation Development Authority (GIDA).



While Ghana has a total irrigation potential of 1.9 million hectares, only about 229,109 hectares — or 12% — are currently irrigated, and the vast majority of this is through small-scale or informal means.



The major irrigation projects maintained by GIDA primarily support rice and vegetable cultivation.



“Sugarcane production in Ghana is currently quite low,” Courage Zoiku, a Ghanaian financial analyst, tells FORBES AFRICA. “This is a massive infrastructure investment that would significantly boost production compared to the current rain-fed system, where farmers can only cultivate once annually. Doubling the harvest would increase the availability of raw materials and, in turn, enhance sugar production in Ghana.’’



The project is being implemented under Ghana’s flagship ‘One District, One Factory’ industrialization program. It aims not only to reduce the country’s dependence on imported sugar but to catalyze a self-sustaining agro-industrial ecosystem.



Ghana currently spends more than $160 million annually on sugar imports, primarily from low-cost exporters such as India, Thailand, and Brazil. Efforts to revive local sugar production have struggled, due to inconsistent supply of raw sugarcane.



Dangote’s new facility will feature an integrated sugar refinery with a daily crushing capacity of 12,000 tons of cane, as well as processing units for molasses and ethanol. The company has confirmed that all required regulatory permits have been secured and that construction is ready to begin.



Yet, infrastructure remains a critical concern.



“The government must invest in road access,” Zoiku stresses. “Once production begins, there will be not just the central farm but also hundreds of out-growers around the area. Without reliable transport infrastructure, neither raw cane nor refined sugar can reach markets like Accra efficiently.”



He also warns that the long-term viability of the project will depend on smart policy support. While agricultural companies in Ghana currently benefit from a reduced corporate tax rate of 13%, and even lower rates in designated hinterland zones, local producers remain vulnerable to competition from imported sugar unless trade protections are introduced.



“Just like with rice, sugar needs import quotas to protect domestic industry,” Zoiku argues. “If local producers can’t sell their sugar because the market is flooded with cheaper imports, all this investment risks becoming a white elephant.”



He further recommends that government institutions, such as hospitals, prisons, and school feeding programs, be mandated to prioritize locally produced sugar. “Public procurement is a powerful lever to build demand and stabilize the market,” he says.



“We envision more than just a factory,” Dangote wrote in the announcement post on LinkedIn. “We see a catalyst for autonomy, employment, and continental transformation.”

Dangote Group Chief Executive Officer Aliko Dangote Interview

Africa’s Richest Man To More Than Double Ghana’s Publicly Irrigated Farmland With New Sugar Project

<h2 class="wp-block-heading" id="h-topline">Topline</h2>



The Met Gala, an arts fundraiser more commonly known to fans as an extravagant, star-studded night for fashion, will honor fashion pioneered by Black men throughout history Monday night, with celebrities including A$AP Rocky and Colman Domingo set to host.



<h2 class="wp-block-heading">Key Facts</h2>



The Met Gala will take place May 5 in New York as a fundraiser for the Metropolitan Museum of Art’s Costume Institute, celebrating the opening of the museum’s spring exhibition: “Superfine: Tailoring Black Style.”



The dress code for the evening is “Tailored for You,” which the Met said in a&nbsp;<a href="https://www.metmuseum.org/press-releases/ci-2025-exhibition-gala-details" rel="noreferrer noopener" target="_blank">press release</a>&nbsp;is a “nod to the exhibition’s focus on suiting and menswear.”



Co-chairs for this year’s event include Oscar-nominated actor Colman Domingo, rapper A$AP Rocky, Formula 1 driver Lewis Hamilton and producer Pharrell Williams, alongside Vogue editor-in-chief Anna Wintour.



LeBron James will participate as the gala’s honorary chair this year.



This year’s gala is funded by a few billionaire celebrities—Tyler Perry’s Perry Foundation and George Lucas’s Hobson/Lucas Family Foundation—as well as Instagram and Africa Fashion International.



<h2 class="wp-block-heading">What Is This Year’s Met Gala Theme?</h2>



<a href="https://www.metmuseum.org/press-releases/ci-2025-exhibition-gala-details" rel="noreferrer noopener" target="_blank">The Met</a>&nbsp;has defined this year’s theme, “Superfine: Tailoring Black Style,” as an “exploration of the concept of dandyism,” a term that originally referred to aristocratic style as far back as the 18th century, which Vogue now defines as an “exuberant attention to dress.” The showcase and this year’s gala are based on the 2009 book “Slaves to Fashion: Black Dandyism and the Styling of Black Diasporic Identity,” by Monica Miller, chair of the Barnard College Africana Studies department. Miller told&nbsp;<a href="https://www.vogue.com/article/superfine-tailoring-black-style-costume-institute-spring-2025-exhibition" rel="noreferrer noopener" target="_blank">Vogue</a>&nbsp;this year’s exhibition will “illustrate how Black people transformed from being enslaved and stylized as luxury items, acquired like any other signifier of wealth and status, to autonomous self-fashioning individuals who are global trendsetters.” The Met’s exhibition is divided into twelve sections, each representing a characteristic defining the Black dandy style: Ownership, Presence, Distinction, Disguise, Freedom, Champion, Respectability, Jook, Heritage, Beauty, Cool, and Cosmopolitanism, according to the&nbsp;<a href="https://www.metmuseum.org/press-releases/ci-2025-exhibition-gala-details" rel="noreferrer noopener" target="_blank">Met’s website</a>. Miller told&nbsp;<a href="https://www.theguardian.com/fashion/2025/apr/30/an-incredibly-political-moment-why-fashion-and-the-met-gala-are-celebrating-black-dandyism" rel="noreferrer noopener" target="_blank">the Guardian</a>&nbsp;the exhibition examines the idea of “ownership,” particularly the contrast between “being owned and ‘owning it.’’ This year’s exhibition was designed by artist Torkwase Dyson, and artist Iké Udé served as a special consultant.



<h2 class="wp-block-heading">Who’s Attending This Year’s Met Gala?</h2>



This year’s&nbsp;<a href="https://www.metmuseum.org/press-releases/ci-2025-exhibition-gala-details" rel="noreferrer noopener" target="_blank">host committee</a>&nbsp;members are André 3000, Chimamanda Ngozi Adichie, Simone Biles and Jonathan Owens, Grace Wales Bonner, Jordan Casteel, Dapper Dan, Doechii, Ayo Edebiri, Edward Enninful, Jeremy O. Harris, Branden Jacobs-Jenkins, Rashid Johnson, Regina King, Spike Lee and Tonya Lewis Lee, Audra McDonald, Janelle Monáe, Jeremy Pope, Angel Reese, Sha&#8217;Carri Richardson, Olivier Rousteing, Tyla, Usher and Kara Walker, according to the&nbsp;<a href="https://www.metmuseum.org/press-releases/ci-2025-exhibition-gala-details" rel="noreferrer noopener" target="_blank">Met</a>. Zendaya, a Met Gala favorite for her extravagant looks conceived of by her stylist, Law Roach, will attend, Roach told&nbsp;<a href="https://www.eonline.com/news/1415897/zendaya-will-attend-met-gala-2025-law-roach-confirms" rel="noreferrer noopener" target="_blank">E! News</a>&nbsp;earlier this month. Rihanna, another Met Gala regular, has not confirmed whether she will attend, though speculation has grown since her longtime partner, A$AP Rocky, is a co-chair. Actress Blake Lively, also known a regular attendee, has not confirmed whether she will attend amid her&nbsp;<a href="https://www.forbes.com/sites/maryroeloffs/2025/01/13/the-entire-justin-baldoni-vs-blake-lively-feud-explained-former-publicist-reportedly-subpoenaing-tech-companies/">legal battle</a>&nbsp;with “It Ends With Us” director Justin Baldoni, though&nbsp;<a href="https://www.tmz.com/2025/03/21/blake-lively-ryan-reynolds-skipping-met-gala/" rel="noreferrer noopener" target="_blank">TMZ</a>&nbsp;and&nbsp;<a href="https://people.com/blake-lively-ryan-reynolds-will-not-attend-2025-met-gala-exclusive-source-11701488" rel="noreferrer noopener" target="_blank">People</a>&nbsp;both cited sources claiming she and her husband, Ryan Reynolds, will skip this year’s gala. The&nbsp;<a href="https://www.nytimes.com/2025/05/05/style/met-gala-2025-black-dandy-politics.html" rel="noreferrer noopener" target="_blank">New York Times</a>&nbsp;reported various billionaires will skip this year’s event, including Jeff Bezos, Mark Zuckerberg, Bernard Arnault and Elon Musk, while billionaire Michael Bloomberg will attend.



<h2 class="wp-block-heading">Big Number</h2>



$75,000. That’s how much a single Met Gala ticket costs, the&nbsp;<a href="https://www.nytimes.com/article/met-gala-2025-theme-hosts-watch.html" rel="noreferrer noopener" target="_blank">New York Times</a>&nbsp;reported, while tables of 10 sell for $350,000. Celebrities are typically sponsored by brands who purchase tickets for them.



<h2 class="wp-block-heading">Surprising Fact</h2>



LeBron James, this year’s honorary co-chair, is playing in the NBA playoffs for the Los Angeles Lakers against the Minnesota Timberwolves. The Timberwolves lead the series 3-1, though if the Lakers keep winning, James could have a game the night before the gala, according to the&nbsp;<a href="https://www.nba.com/news/2025-nba-playoffs-schedule" rel="noreferrer noopener" target="_blank">NBA’s schedule</a>—and if the Lakers win, it’s unclear whether James will attend.



<h2 class="wp-block-heading">How Can Viewers Watch The Met Gala?</h2>



The Met Gala will be broadcast on&nbsp;<a href="https://www.vogue.com/article/where-to-watch-the-2025-met-gala-livestream" rel="noreferrer noopener" target="_blank">Vogue’s</a>&nbsp;digital platforms and on its YouTube channel beginning May 5 at 6 p.m. EST. Singer and actress Teyana Taylor, actress La La Anthony, and comedian Ego Nwodim will host the broadcast, and social media star Emma Chamberlain will return as Vogue’s special correspondent.



<h2 class="wp-block-heading">Key Background</h2>



The Met Gala has had a decades-long&nbsp;<a href="https://time.com/6972918/met-gala-history/" rel="noreferrer noopener" target="_blank">history</a>&nbsp;as a fundraiser for the Met’s Costume Institute before transforming into an extravagant fashion showcase. The first gala was held in 1948 as a midnight dinner party, though it did not begin to transform until then-Vogue editor-in-chief Diana Vreeland joined as a consultant in the 1970s. Last year’s&nbsp;<a href="https://www.forbes.com/sites/conormurray/2024/05/06/what-we-know-about-tonights-met-gala-backed-by-tiktok-with-zendaya-and-more-co-chairing-garden-of-time-themed-event/">exhibition</a>&nbsp;was titled “Sleeping Beauties: Reawakening Fashion,” and the dress code for attendees was “Garden of Time.” Other recent themes include “Karl Lagerfeld: A Line of Beauty” in 2023 and “In America: An Anthology of Fashion” in 2022.



<h2 class="wp-block-heading">Further Reading</h2>



<a href="https://www.vogue.com/article/superfine-suiting-portfolio-may-2025" rel="noreferrer noopener" target="_blank">“Superfine” and Dandy: Iconic Creatives Celebrate the Costume Institute’s New Exhibition</a>&nbsp;(Vogue)



<a href="https://www.vogue.com/article/where-to-watch-the-2025-met-gala-livestream" rel="noreferrer noopener" target="_blank">Where to Watch the 2025 Met Gala Livestream</a>&nbsp;(Vogue)

The 2024 Met Gala Celebrating “Sleeping Beauties: Reawakening Fashion” – Street Sightings

What To Know About Tonight’s Met Gala: Who’s Attending And The ‘Tailoring Black Style’ Theme Explained

Artificial Intelligence (AI) is creeping into every walk of life these days and the world of sport is no different, with data and the use of science behind the numbers becoming more prevalent. But that is not just at the elite level.



Could AI help uncover the next superstars in South Africa’s talent-rich Gauteng province by analyzing and exposing the most promising players in the region?



Swiss tech company Talnets AG have partnered with the Gauteng Development League (GDL) to implement their technology to provide young players with the opportunity not only to be seen by local clubs but also win a contract overseas.



It follows a successful one-year trial period where the technology features the youth teams of Mamelodi Sundowns, Kaizer Chiefs and Orlando Pirates, the three biggest clubs in South Africa.



Talnets AG’s technology uses AI to analyze a match based on over 60 different data points from video of GDL matches and turn this into useable numbers to create a detailed profile for each player over time.



This ‘player card’ becomes a CV for the player which lives online and is publicly shareable to scouts, coaches and clubs around the world.



But numbers never tell the whole story and the platform also creates short video highlights of the player that is assigned to their card and gives scouts the opportunity to visually see their actions as well as read their numbers.



Fungai Mapondera, originally from Zimbabwe but now based in Switzerland as CMO with Talnets AG, explains the concept to FORBES AFRICA.



“It is about extracting the data from the match video and assigning the different data points based on what the player is doing in the game,” Mapondera says. “In essence, you end up having a digital player card with all your data from all your games, plus the highlights from all those games, in one place.



“It makes it easy for you as the player to share that profile with anybody that may be scouting you.”



There have already been successes. One player was scouted using the system and has had trials in Spain. And there are many others who are set to have their talent exposed to the world through the platform.



Behind it all is a meeting between technology and sport, something that has been rapidly accelerating in recent years, and is set to develop even further into the future as the cost of such platforms come down and therefore become more widely available.



Pin-pointing exactly what makes for useable and readable data has been important.



“There are so many things you can analyze in a game,” says Talnets’ Chief Executive Officer Darko Stanoevski. “Our focus is on individual performance analysis, which requires a bit more of a specific approach.



“That framework could be simple things like goals and goalkeeper saves, to more intricate detail like the different kinds of passes, passive passes, passes that break the (defensive) line and so on.



“Grounded on the FIFA Football Language Model and built with top football experts, we have developed our framework with over 60 different data points to help us spot and identify young talents in an efficient, transparent and scalable way. Analyzing a full game based on this framework would give us around 600 data points for one team, and then it will be, on average, around 15-20 data points per player.”



This data collection used to be done manually by an analyst, taking days or even weeks. But that has been now cut down to a few hours.



“The AI is an enabler to lower time dramatically, to automate this entire analysis process and make it more scalable and more efficient,” Stanoevski says.



“It gets players visibility and access to clubs, to scouts and coaches that have access to the platform, and even more importantly, enabling the players themselves to share their profiles with anyone, so they can build a ‘CV’ and pursue their dream.”

Photo supplied by GDL

Could AI Help Uncover The Next Football Stars In South Africa? This Tech Firm May Have The Answer

<h2 class="wp-block-heading" id="h-topline">Topline</h2>



The most valuable&nbsp;pure entertainment company in the world got a little less valuable Monday, as shares of California-based streaming giant Netflix fell following President Donald Trump’s announcement he’d slap a high penalty on films produced abroad.



<h2 class="wp-block-heading">Key Facts</h2>



Netflix stock fell 4% to $1,113, tracking toward its worst daily loss since April 4.



The slide followed Trump’s Sunday evening&nbsp;<a href="https://truthsocial.com/@realDonaldTrump/posts/114452117143235155" rel="noreferrer noopener" target="_blank">proclamation</a>&nbsp;he’d slap a 100% tariff on “any and all Movies coming into our Country that are produced in Foreign Lands,” declaring films produced outside the U.S. are a “National Security threat.”



Also&nbsp;<a href="https://www.forbes.com/sites/siladityaray/2025/05/05/trump-says-films-shot-outside-us-will-face-100-tariff-hollywood-stocks-drop-in-premarket/">struggling</a>&nbsp;were shares of Disney (-2%), Max parent Warner Bros. Discovery (-3%), Paramount Global (-2%) and Universal Pictures parent Comcast (-1%), all outpacing the less than 1% loss for the S&amp;P 500 baseline stock index.



<h2 class="wp-block-heading">Big Number</h2>



$20.4 billion. That’s how much market capitalization Netflix lost Monday. That’s almost exactly the same as Warner Bros. Discovery’s $20.5 billion total valuation.



<h2 class="wp-block-heading">What We Don’t Know: How Trump’s Movie Tariffs Would Work</h2>



Unlike goods on which officials collect duties when entering U.S. ports, movies are services with a more complicated tariff structure. “Is it just movies, or also streaming series? Is it visual effects, co-productions, international film financing? There’s a huge degree of uncertainty,” Henning Molfenter, the former head of the German Babelsberg Studio with producer credits on “The Pianist” and “Captain America: Civil War,”&nbsp;<a href="https://www.hollywoodreporter.com/movies/movie-news/can-trumps-movie-tariff-actually-work-1236207053/" rel="noreferrer noopener" target="_blank">told</a>&nbsp;The Hollywood Reporter.



<h2 class="wp-block-heading">Key Background</h2>



Just more than half, or 51%, of Netflix’s 2024 content spending went to content from outside of North America,&nbsp;<a href="https://www.ampereanalysis.com/insight/more-than-half-of-netflixs-content-spending-now-outside-of-north-america#:~:text=More%20than%20half%20of%20Netflix's%20content%20budget%20is%20now%20allocated,directed%20towards%20internationally%2Dsourced%20content." rel="noreferrer noopener" target="_blank">according</a>&nbsp;to market research firm Ampere Analysis. About 70% of the streamers’ paid subscriptions come from outside the U.S. and Canada. Some of Netflix’s most popular recent programs among American audiences include shows filmed outside the U.S., including the British period series “Bridgerton” and the South Korean “Squid Game.”



<h2 class="wp-block-heading">Contra</h2>



Prior to Trump’s Sunday announcement, Netflix stock was&nbsp;<a href="https://www.forbes.com/sites/dereksaul/2025/04/17/netflix-earnings-record-profits-and-sales-send-stock-to-nearly-1000/">hailed</a>&nbsp;by many as a relative safe haven compared to other stocks in the crosshairs of tariff choppiness. Bank of America analysts’ note following Netflix’s earnings report was titled “Predictable in an unpredictable world.” Through Friday trading, Netflix stock returned 30% in 2025, far outperforming the returns of Facebook parent Meta (2%), Amazon (-13%), Apple (-18%) and Google parent Alphabet (-13%), the other members of the “FAANG” grouping of high-growth technology stocks.

Netflix Shares Jump On Strong Subscriber Report

Netflix Suffers $20 Billion Loss As Trump Wields 100% Movie Tariffs

The tiny Indian Ocean Island of Mauritius is known for its beautiful beaches, sandy shores and tropical charm… but not yet for its football prowess.



Soccer remains hugely popular on the island, but with around 1.25-million people calling it home, it is the size of a modest city elsewhere on the continent.



That makes creating a competitive team on the international stage a challenge, but there are plans afoot to develop the game in Mauritius, especially for girls, to help the country punch above its weight.



Mauritius are among the lowest-ranked teams globally in the FIFA Women’s World Rankings, but with a new generation of starlets coming through, Mauritius Football Association (MFA) Women’s football development officer and Under-17 national team coach Anielle Collet can see a brighter future.



She has worked in football for the last 23 years, having been drawn to the game as a young girl herself, and has seen many positive changes.


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" width="906" height="1024" src="https://cms.forbesafrica.com/wp-content/uploads/2025/05/B24LESS0640-906x1024.jpg" alt="" class="wp-image-65449" style="width:530px;height:auto" srcset="https://cms.forbesafrica.com/wp-content/uploads/2025/05/B24LESS0640-906x1024.jpg 906w, https://cms.forbesafrica.com/wp-content/uploads/2025/05/B24LESS0640-265x300.jpg 265w, https://cms.forbesafrica.com/wp-content/uploads/2025/05/B24LESS0640-768x868.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2025/05/B24LESS0640-1359x1536.jpg 1359w, https://cms.forbesafrica.com/wp-content/uploads/2025/05/B24LESS0640-1812x2048.jpg 1812w" sizes="auto, (max-width: 906px) 100vw, 906px" /><figcaption class="wp-element-caption">Marie Elsa Oscar of Mauritius (© Samuel Shivambu/BackpagePix)</figcaption></figure></div>


She believes football is not just a sport in Mauritius, but an important part of the social fabric of the island.



“It&#8217;s part of our culture,” Collet tells FORBES AFRICA. “You can see everyone eager every weekend to watch the games. From where I come from, a small island, football is like a community base; everyone involved in the game is part of this community.”



Collet has been at the forefront of football development in Mauritius for the past few years, and is proud of the progress made by the MFA with the professionalization and promotion of the women’s game.



“We can see that the level of competition is increasing more and more,” she says. “Also, we now have players that are playing abroad in France, the United States and Canada. We can see there is improvement and at the football association we are putting much effort into the promotion of women&#8217;s football.



“To market it and commercialize it, we have a social platform where it is visible everywhere. We can see this change now.



“Before, it was stagnant. But now there is an increase because we have academies and a league that is running. We started to have female coaches and the game generally has become more visible.”



The MFA has been following a strategic plan, starting at youth and grassroots level, to develop a clear player pathway to the senior national side and the professional level, according to Collet. This involves the improvement of not only players, but staff as well.



The impact of these initiatives has been positive, with the impact measurable and easy to see in certain areas of development.



“We can see now that there are more girls that are keen to play football because there are special programmes put in place by FIFA and football academies, and we can see that schools are starting to do inter-college matches (for girls),” Collet says.


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" width="889" height="1024" src="https://cms.forbesafrica.com/wp-content/uploads/2025/05/B24LESS0642-889x1024.jpg" alt="" class="wp-image-65448" style="width:606px;height:auto" srcset="https://cms.forbesafrica.com/wp-content/uploads/2025/05/B24LESS0642-889x1024.jpg 889w, https://cms.forbesafrica.com/wp-content/uploads/2025/05/B24LESS0642-260x300.jpg 260w, https://cms.forbesafrica.com/wp-content/uploads/2025/05/B24LESS0642-768x885.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2025/05/B24LESS0642-1334x1536.jpg 1334w, https://cms.forbesafrica.com/wp-content/uploads/2025/05/B24LESS0642-1778x2048.jpg 1778w, https://cms.forbesafrica.com/wp-content/uploads/2025/05/B24LESS0642.jpg 1851w" sizes="auto, (max-width: 889px) 100vw, 889px" /><figcaption class="wp-element-caption">Marie Chlotarina Clair of Mauritius (© Samuel Shivambu/BackpagePix)</figcaption></figure></div>


Mauritius’ progress can be followed further when they compete in the COSAFA Under-17 Girls’ Championship in Windhoek, Namibia, from May 10-17.



“This will contribute to the development of a clear player pathway as they get the opportunity to showcase their talent at youth level on the COSAFA stage. This furthermore gives the players the opportunity to emerge at senior level,” Collet adds.

Football – 2024 COSAFA U17 Girls Championship – Zimbabwe v Mauritius – UJ Soweto B Stadium – Johannesburg

Football In Mauritius? How The Island Is Working Towards Its Goals For The Women’s Game

After a turbulent period involving economic and geopolitical headwinds, investors are gradually rediscovering the country as a promising destination.



While challenges remain, fund managers from across the venture capital, private equity, and infrastructure spheres indicate that Nigeria is again ripe for strategic capital deployment.



“We’ve come at the right time,” Abi Mustapha-Maduakor, CEO of the African Private Capital Association (AVCA), told the media on Monday, upon the annual conference’s return to Lagos—its first time back in Nigeria’s commercial capital in 11 years.



“If we look, over the past three years, at our data, we had depressed deal activity in Nigeria over the past two for many reasons–macroeconomic pressures and other geopolitical factors that affected a lot of countries in Africa, not least Nigeria. But what’s very important now is the tide is turning,” Mustapha-Maduakor added.



It reflects a cautious but growing sentiment among investors that Nigeria—previously Africa’s largest economy by GDP and population—may be entering a new investment cycle. The naira, which reportedly lost over 60% of its value in the last year alone, has seen relative stability in recent months.



“Lagos is the heart of the African startup ecosystem,” said Kola Aina, Founding Partner of Ventures Platform, a pan-African early-stage venture capital (VC) firm, at the conference.



“It’s home to [several of] the continent’s unicorns and has attracted the most capital since we started tracking.”



According to a March 2024 report by AVCA, West Africa attracted the largest proportion of VC deal volume on the continent, at 26%, driven by Nigeria–the most active country by volume at 19%.



It further indicates that the market size for venture capital in Africa is estimated to be $4.5 billion across 603 deals, which including $0.9 billion of venture debt.



Beyond fintech and ecommerce, Aina noted that artificial intelligence (AI) is fast becoming a new focal point for venture capital in Africa.



“We’re seeing investors not just backing AI-enabled startups but also adopting AI tools internally to improve sourcing, due diligence, and overall fund operations,” he said.



Aina pointed to Nigeria’s 3 Million Technical Talent (3MTT) program, launched in 2023, as a critical factor in training young Africans in AI and machine learning. As Africa races to close its digital divide, such initiatives are helping prepare the continent’s youth for participation in a global tech economy.



“Cloud computing, data centers, broadband, and digital ID systems are prerequisites for scaling AI,” Aina later notes to FORBES AFRICA.



Still, the continent’s private capital ecosystem faces a long-standing concern: exits. “Where are the exits?” Aina asked rhetorically—a question echoed across the industry. While secondary sales have increased,



enabling early-stage investors to show distributions to paid-in capital (DPI), many still await large-scale IPOs or strategic acquisitions.



“Secondary transactions are useful for recycling capital,” Aina said. “But if terminal exits like IPOs don’t open up in the next five to seven years, we could see a bottleneck.”



Genevieve Sangudi, Managing Partner at Alterra Capital Partners, cites similar concerns. “Africa must deliver more liquidity to attract global investors. We also need to develop our own domestic capital pools.”



Despite the volatility, Sangudi remained bullish on Nigeria. “This is still the giant of Africa,” she said. “But we must focus on micro over macro, pick the right partners, sectors, and market leaders that are resilient through cycles.”



Olusola Lawson, Co-Managing Director of Africa Infrastructure Investment Managers (AIIM), sees untapped opportunities in energy, logistics, and telecom infrastructure.



AIIM is also looking at Africa’s potential as a destination for AI training infrastructure. “If you think about what you need for AI data centers—cheap land, power, and connectivity—these are becoming scarce in the U.S. and Europe. But parts of Africa, like Morocco, have them in abundance,” he said.



Lawson also noted that latency is less of an issue for model training centers, making Africa a viable hub for this niche. “That could be an opportunity for us, going forward.”



Aina stressed that Africa’s long-term fundamentals remain intact: a youthful, rapidly growing population, along with urbanization, and increasing mobile penetration.



“The continent is the world’s last frontier for market creation,” said Aina. “With over one billion people projected to be added by 2050, Africa offers a vast total addressable market—if we can convert non-consumers into consumers.”



Referencing innovation expert Efosa Ojomo on venture capital designed to de-risk an economy–or at least, a sector, Aina said it must “go beyond funding” and help build the scaffolding that enables market-creating innovations.



Danladi Verheijen, CEO of Verod Capital Management, quoting Baron Rothschild, put it succinctly: “Buy when there’s blood on the streets—even if it’s your own.” Verod, founded in the wake of the 2008 global financial crisis, sees parallels between that moment and Nigeria today.



“Now is the time to invest,” said Verheijen. “Prosperity will follow.”

Nigeria’s Dying ATMs Leave a Cash-Shaped Hole Filled by Agents

The Tide Is Turning’: Private Capital Looks To Nigeria Again As Economy Rekindles Investor Interest

<h2 class="wp-block-heading" id="h-topline">Topline</h2>



Earnings for two of the U.S.’ handful of trillion-dollar companies came out Wednesday afternoon as Meta and Microsoft will update investors, kicking off a crucial week for on-edge big technology stocks as tariffs complicated investor appetite for artificial intelligence-driven growth.



<h2 class="wp-block-heading" id="h-key-facts">Key Facts</h2>



Microsoft generated $70.1 billion in revenue and $3.46 EPS ($25.8 billion net income), compared to consensus forecasts calling for $68.4 billion in revenue and $3.22 earnings per share ($24.1 billion net income) for Microsoft, according to FactSet data, scoring a 13% year-over-year increase in sales and 18% jump in profit.



Those are the best-ever quarterly revenue and profit totals in Microsoft’s history.



Shares of Microsoft shot up 6% following the earnings release, trading at about $420 after hours.



Fellow big tech firm Meta, the parent of Facebook, also exceeded Wall Street expectations, as its $42.3 billion in revenue and $6.43 EPS smashed forecasts of $41.4 billion in revenue and $5.23 EPS.



Meta said it expects second-quarter revenue to come in between $42.5 billion and $45.5 billion, well above consensus projections of $41.3 billion.



Meta stock gained about 5% to more than $570.



<h2 class="wp-block-heading" id="h-key-background">Key Background</h2>



Microsoft is the U.S.’ second most valuable company with a $2.9 trillion market capitalization, and Meta is the sixth-largest firm with a $1.4 trillion market cap. Meta and Microsoft are two of the so-called “magnificent seven” big tech companies, joining Google parent Alphabet, Amazon, Apple, Nvidia and Tesla. The septet comprises a third of the S&amp;P 500’s total market capitalization thanks to their outsized influence in the artificial intelligence bonanza. Microsoft makes its AI hay via its Azure enterprise cloud computing unit and its stake in ChatGPT parent OpenAI, while Meta just launched a competitor app to the generative AI dominator ChatGPT,&nbsp;<a href="https://www.forbes.com/sites/antoniopequenoiv/2025/04/29/heres-what-to-know-about-metas-standalone-ai-app-to-rival-chatgpt/">Meta AI</a>. Meta and Microsoft shares have both slumped this year amid the broader stock market pullback as investors’ risk profile weakened. Meta and Microsoft stocks declined 5% year-to-date apiece through Wednesday, excluding dividends, though that’s stronger than the 15% or more losses from Amazon, Apple and Nvidia, all of which have far heavier exposure to China than Meta and Microsoft.



<h2 class="wp-block-heading" id="h-tangent">Tangent</h2>



Meta CEO Mark Zuckerberg and former Microsoft CEO Steve Ballmer were among the 10 billionaires whose net worth fell the most during President Donald Trump’s first 100 days, losing a combined $30 billion,&nbsp;<a href="https://www.forbes.com/sites/chasewithorn/2025/04/29/the-biggest-billionaire-winners-and-losers-of-trumps-first-100-days/">according</a>&nbsp;to Forbes’ calculations.



<h2 class="wp-block-heading" id="h-what-to-watch-for">What To Watch For</h2>



Thursday will be another magnificent seven earnings doubleheader, as retail titan Amazon and iPhone maker Apple will share quarterly results.



<h2 class="wp-block-heading" id="h-crucial-quote">Crucial Quote</h2>



“This is a key few days ahead for the markets and tech world,” remarked Wedbush analyst Dan Ives. The trade war is a “key X variable for tech stocks,” noted Ives, adding this week’s reports should provide a glimpse into how demand has held up among businesses and consumers amid the economic uncertainty.

Views Of London England’s Capital City

Meta And Microsoft Stocks Soar On Robust Earnings Reports

<h2 class="wp-block-heading" id="h-topline">Topline</h2>



President Donald Trump discussed his first 100 days in office in an interview with ABC News on Tuesday that at times became tense, where he defended his handling of the economy, high tariffs on China and his administration’s immigration crackdown.



<h2 class="wp-block-heading" id="h-key-facts">Key Facts</h2>



Trump had several tense exchanges with ABC News anchor Terry Moran during&nbsp;<a href="https://abcnews.go.com/US/trump-defends-100-days-historic-presidency-exclusive-abc/story?id=121295023" rel="noreferrer noopener" target="_blank">the interview</a>, where he described the network as “one of the worst.”



The president defended his decision to hit China with steep tariffs, but said he expected this to have no impact on U.S. consumers, as he believes China will “eat those tariffs.”



The president claimed China was “ripping us off like nobody has ever ripped us off,” and while he acknowledged a 145% tariff amounted to a trade embargo, he thought it was “good” and “they deserve it.”


<div class="wp-block-image">
<figure class="aligncenter size-full"><img loading="lazy" decoding="async" width="1024" height="683" src="https://cms.forbesafrica.com/wp-content/uploads/2025/04/GettyImages-2211443596.jpg" alt="" class="wp-image-65400" srcset="https://cms.forbesafrica.com/wp-content/uploads/2025/04/GettyImages-2211443596.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2025/04/GettyImages-2211443596-300x200.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2025/04/GettyImages-2211443596-768x512.jpg 768w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption"> Ukraine&#8217;s President Volodymyr Zelensky (R) meets with U.S. President Donald Trump (L) during Pope Francis&#8217;s funeral at St. Peter&#8217;s Basilica at the Vatican. (Photo by Office of the President of Ukraine via Getty Images)</figcaption></figure></div>


The comments on the China tariffs are a shift in tone from last week, where Trump suggested that trade negotiations with Beijing were around the corner and the 145% tariff rate would soon “come down substantially.”



The president also dismissed a question about voters feeling economic anxiety, saying that prices had come down under him: “Since I came in, gasoline is down, groceries are down, egg prices are down — many things are down, just about everything.”



Trump also suggested tourism to the U.S. was “way up,” despite&nbsp;<a href="https://www.forbes.com/sites/suzannerowankelleher/2025/04/29/us-travel-boycott-60-of-canadians-staying-away-because-of-trump-survey-says/">data showing</a>&nbsp;otherwise, and told Moran, “Wait till you see the numbers.”



<h2 class="wp-block-heading" id="h-what-did-trump-say-about-his-administration-s-deportation-actions">What Did Trump Say About His Administration’s Deportation Actions?</h2>



Moran asked Trump about his administration’s sweeping deportation efforts and whether proper due process was being followed. The president said: “If people come into our country illegally, there&#8217;s a different standard. These are illegal. They came in illegally.” When pressed again about due process, Trump said: “Well, they get a process where we have to get &#8217;em out, yeah.” Trump said his administration has to “act fast” in removing undocumented migrants and claimed there were “21 million people” in the U.S. illegally—a number Trump has repeatedly used despite the actual&nbsp;<a href="https://www.poynter.org/fact-checking/2024/how-many-million-immigrants-america-illegal/" rel="noreferrer noopener" target="_blank">estimated number</a>&nbsp;being lower. The president then asked, “Do you think we can give 21 million trials?”



<h2 class="wp-block-heading" id="h-what-did-trump-say-about-kilmar-abrego-garcia">What Did Trump Say About Kilmar Abrego Garcia?</h2>



The president was also asked about Kilmar Abrego Garcia, a Maryland resident who was mistakenly deported to a prison in El Salvador. Despite earlier denials by his administration, Trump acknowledged he “could” secure the deported man’s return to the U.S., but indicated he will not do so, despite a Supreme Court order instructing the government to facilitate his return. Trump said the Justice Department lawyer who said Abrego Garcia’s deportation was carried out erroneously was “not appointed by us” and “should not have said that.” Trump also claimed Abrego Garcia was a member of the MS-13 gang, despite his lawyers repeatedly denying this accusation. Trump even showed Moran an image of the text “MS-13” tattooed on his hands, but when the ABC anchor pointed out the image was “photoshopped,” the president appeared agitated and told Moran: “Terry, you can’t do that. They’ve given you the big break of a lifetime. You know, you’re doing the interview.” Trump then insisted that Moran should: “go look at his hand,” and the photo claiming “He had MS-13.”



<h2 class="wp-block-heading" id="h-what-did-trump-say-about-putin-and-the-ukraine-peace-talks">What Did Trump Say About Putin And The Ukraine Peace Talks?</h2>



Trump said he believes Putin wanted to annex the whole of Ukraine and: “If I didn&#8217;t win the election, he would have gotten all of Ukraine.” When asked if he thought that the Russian president may not actually want to stop the war and was simply “tapping” him along, Trump acknowledged that this was possible: “He could be tapping me along a little bit.” However, Trump said he believes Putin would “like to stop the war.” When asked if he trusted Putin, Trump shot back: “ I don’t trust you, I don’t trust – I don’t trust a lot of people.” After another testy exchange with the interviewer, Trump said, “I think that he — let&#8217;s say he respects me.”



<h2 class="wp-block-heading" id="h-further-reading">Further Reading</h2>



<a href="https://abcnews.go.com/US/trump-defends-100-days-historic-presidency-exclusive-abc/story?id=121295023" rel="noreferrer noopener" target="_blank">Trump discusses first 100 days of historic presidency in exclusive ABC interview</a>&nbsp;(ABC News)

President Trump Delivers Speech In Michigan To Mark 100 Days Of His Presidency

What Trump Said In 100 Days Interview: China Tariffs, Deportations And Putin

Africa’s agricultural landscape, often vulnerable to the harsh elements and varied weather patterns, is seemingly evolving into a hub of innovation that reaches far beyond its traditional roots.



It was not long ago that farmers on the continent had to rely on birds like the Red-billed Quelea and African Cuckoo for rain predictions. Now, various types of technology are taking their place, equipping agricultural stakeholders with the tools they need to weather the proverbial storms.



For example, thousands of people in West Africa, in particular, are able to receive hyperlocal weather forecasts, via SMS, from sources like Ignitia, to combat the changing climate.



“Extreme weather is becoming more frequent and intense across Africa, and unfortunately, conventional forecasting weather models—optimized for temperate regions like Europe—struggle to capture heat-driven rainfall dynamics and extremes such as heavy thunderstorms,” explains Andrew Lala, CEO at Ignitia, a company specializing in weather and climate intelligence across Africa, Latin-America and South-East Asia.



“You need to get rainfall forecasting correct at different time horizons, if you’re going to help farmers understand how good or bad the upcoming rainy season will be and how to mitigate any in-season rainfall challenges like a delayed rainy season onset or erratic dry spells.”



Staying alert to problematic weather patterns has profound ramifications.



The floods in Senegal towards the end of 2024 were severe, reportedly submerging 16,000 hectares of crops, including rice, corn, and okra. A report from the Senegal River Delta, stated, at the time, that around 250,000 people were left facing food insecurity.



Meanwhile, the United Nations Children’s Fund’s (UNICEF) Humanitarian Situation Report from October 2024 indicated that a drought in Zambia has caused food shortages for around 4.95 million people.



The need enrich farmers with information to adapt—while minimizing the risk of yield collapse—and to identify optimal conditions for planting and harvesting is crucial.



“By equipping farmers with six-month rainy season insights, you can help them identify planting windows, and identify drought or flood conditions and pest pressures early so that they can build resilience either through planting shorter cycle crops, investing in drought tolerant seed, or connecting them with crop insurance products in the case of extremes,” Lala tells FORBES AFRICA.



Africa has a history of food insecurity. According to Professor David Luke in How Africa Eats: Trade, Food Security, and Climate Risks, over 340 million people are suffering from this.



UNICEF also reports that one in three children in Africa, under the age of five, lives in food poverty.



This challenge has plagued the continent, with climate change, a lack of resources, and conflict as the main protagonists, highlighting the need for modern tools and predictive technology to counteract potential calamities.



South African-based Aerobotics combines thermal-imagery drones and satellites with artificial intelligence (AI) to identify areas of underperformance caused by irrigation issues, nutrient



deficiencies, pests, and diseases. This provides farms with precision data focused on economically maximizing yield.



Producers can target specific areas of concern through per-plant analyses, resulting in more efficient use of fertilizers and pesticides, while optimizing irrigation, and enabling strategic labor deployment.



“Thermal-imagery drones and satellite analytics are reshaping the future of farming across Africa. By turning invisible stress into actionable data, this technology allows farmers to detect issues like water stress, disease, and nutrient deficiencies earlier than ever before,” says Aerobotics Chief Commercial Officer, Vic van den Berg.



Also among the latest in agritech is smart sensors. Able to measure soil moisture, temperature and pH levels, farmers need no longer play the guessing game as they are supported by real-time data to make informed decisions.



For agricultural stakeholders, knowledge is priceless—spotting disease, optimizing growing conditions, and preparing for harsh weather could even mean the difference between widespread food shortages and national stability.



However, a challenge to the use of tech in Africa is digital literacy and limited access to power and smartphones in rural regions, which can then hinder the potential of smart farming, particularly at the smallholder level.



Without the necessary education and infrastructure, farmers may struggle to adopt modern techniques aimed at boosting productivity and resilience. This digital divide leaves rural communities more vulnerable than ever.



“Millions of farmers can benefit from technology,” notes Lala.



While the revolutionary capabilities of smart farming won’t materialize overnight, the growing trend of equipping farms of all sizes with yield-boosting technologies signifies a noteworthy shift in agricultural practice across Africa.



The seed has been planted; now is the time to support its growth.

Empowering Farming: Farmer’s Technological Touch – Managing and Analyzing the Farm through Virtual Screen on Tablet

When Agri Meets Tech: How Data Is Shaping The Future of Farming

Angeline (Angie) Murimirwa is a champion of girls’ education on the African continent—a cause the recently-honored CEO is deeply passionate about, having once been a girl almost “left behind”.



“I am here in New York, Time100 list,” Angie Murimirwa says in a sit-down interview on Zoom with FORBES AFRICA. “But I tell you, I still feel like that 10-year-old girl who got this unprecedented, unanticipated, if there’s a word like that, opportunity to do something with my life.”



In April, Time magazine released its annual list, recognizing the 100 most influential people in the world. Among them was Zimbabwean-born Murimirwa, CEO of the Campaign for Female Education (CAMFED).



However, in the 90s, like many other learners on the continent, Murimirwa had to strive for her education. Despite being a star pupil in primary school, she vividly remembers the desperation and poverty that blighted her childhood. She remembers the “indignity” of arriving at school barefoot, wearing a torn dress, and offering to do chores for her teacher in return for a pencil.



At home, she recalls how she often found her mother weeping over the reality that Murimirwa might be denied an education. After all, her family could not afford it.&nbsp;



“Everything that I am today is born out of experiences and the journey that I have traveled&#8230; Close to 10 years old, I almost lost my grip on education, and at that very time, CAMFED was just being introduced in my community. They selected me for support, [which] makes me appreciate the value of the opportunity, and particularly for children from what I call ‘back of beyond’.



“The village is very remote, so to have gotten that chance for me changed everything.”



CAMFED, an international non-governmental, non-profit organization that operates in Zimbabwe, Zambia, Ghana, Tanzania, and Malawi, was founded with a mission to eradicate poverty in Africa through the education of girls and the empowerment of young women.&nbsp;



Now, years later, after being selected by CAMFED, Murimirwa is the head of the organization. What fueled her success is remembering how she would watch her peers miss class because they couldn’t afford menstrual products, or drop out because their families couldn’t afford to eat and they had to work.



It was then she saw how powerful and important education was but, more importantly, how access to it needed to be prioritized.



According to a United Nations estimate, about one in 10 girls in sub-Saharan Africa stay out of school during their menstrual cycle, accounting for up to 20% of the school year.



<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="683" src="https://cms.forbesafrica.com/wp-content/uploads/2025/04/Angie-Murimirwa-with-secondary-students-CEO-CAMFED-CIFF-Visit-Wedza-ZIM-Jan-2023_Cynthia-R-Matonhodze-Photo6-1024x683.jpg" alt="" class="wp-image-65374" style="width:768px;height:auto" srcset="https://cms.forbesafrica.com/wp-content/uploads/2025/04/Angie-Murimirwa-with-secondary-students-CEO-CAMFED-CIFF-Visit-Wedza-ZIM-Jan-2023_Cynthia-R-Matonhodze-Photo6-1024x683.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2025/04/Angie-Murimirwa-with-secondary-students-CEO-CAMFED-CIFF-Visit-Wedza-ZIM-Jan-2023_Cynthia-R-Matonhodze-Photo6-300x200.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2025/04/Angie-Murimirwa-with-secondary-students-CEO-CAMFED-CIFF-Visit-Wedza-ZIM-Jan-2023_Cynthia-R-Matonhodze-Photo6-768x512.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2025/04/Angie-Murimirwa-with-secondary-students-CEO-CAMFED-CIFF-Visit-Wedza-ZIM-Jan-2023_Cynthia-R-Matonhodze-Photo6-1536x1024.jpg 1536w, https://cms.forbesafrica.com/wp-content/uploads/2025/04/Angie-Murimirwa-with-secondary-students-CEO-CAMFED-CIFF-Visit-Wedza-ZIM-Jan-2023_Cynthia-R-Matonhodze-Photo6-2048x1366.jpg 2048w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Murimirwa with students at Gumbonzvanda Secondary School in Wedza, Zimbabwe. (Image Supplied)</figcaption></figure>



Murimirwa says that, as an organization, they work with some of the most marginalized girls in the countries where they operate, and only 5% of these girls complete high school.



“[When] you look into the educational statistics right now, you’d see that a lot of people talk about improved access, improved equity. Some people are overlooking completion,” she says.



“Let&#8217;s look at how many of the girls that are getting into school from these marginalized families get to complete high school. We’re losing girls at every single stage. If you ask me why, I would say that there are multiple reasons that this is happening; we need to recognize that girls’ education, I would say, is the closest thing to a silver bullet.”



She adds, “we must get it right. It’s not just about getting a couple of girls through school and providing scholarships and all of that. It’s about working with the entire ecosystem around the girl”.



Murimirwa explains that the ecosystem is about ensuring that girls are being supported by their families as well.



To date, CAMFED has helped support 7.8 million children to go to school in countries like Ghana, Tanzania, Malawi, Zambia, and Zimbabwe; this includes 2.4 million girls in secondary school.



The nominations for the Time100 list come from alumni who have already been on the list, and Murimirwa’s nomination came from Malala Yousafzai, a Nobel Peace Prize laureate and founder of the Malala Fund, who was a listee in 2013.&nbsp;



In the <a href="https://time.com/collections/100-most-influential-people-2025/7273758/angeline-murimirwa/">Time</a> piece Yousafzai wrote on Murimirwa, she said: “Educating girls is the foundation of healthy and strong societies. But in many places, the barriers to attending school are mounting, depriving girls of the resources to choose their futures. Few people are fighting to solve this crisis as tenaciously and effectively as Angeline—one reason among many that her work won her the prestigious 2024 Africa Education Medal”.



“Angie Murimirwa is an inspiration to women and girls everywhere,” former First Lady of the United States, Michelle Obama, said in a statement.



“Her grassroots approach to supporting vulnerable girls through CAMFED has transformed lives across Africa. Every girl, everywhere, deserves the right to an education and to be able to choose who—and when—to marry. With Angie leading the way, we get closer and closer to reaching that brighter future for our girls.”



When asked what this means to her, Murimirwa says that although she is still shocked and admittedly jokes that she thought the email was a scam at first, it means that the work that she and the organization are doing shows they are in it for “the long haul.”



“We’re not performative about this. I know way too well the depth of despair of being excluded, of not being seen, or feeling like you don’t belong, and just the exhilaration of [then] being seen, of being acknowledged, of being given an opportunity,” she says.



“[My advice to young people is] you are here because you have a right to be here. You are here for a reason and a purpose and focus on what is the value you want to bring to the world. There will be a lot of distractions, there will be a lot of disruptions, and there will be a lot of discouragements and despair. But lean on your strengths and show up fully, unapologetically, and unashamedly. And don’t go on it alone, look to your peers, create champions, and all of that. But remember, you matter. Your story matters, your journey matters.”

Angeline-Angie-Murimirwa-speaking-Palm-Springs-USA-TED-Conference-Dec-2019-TEDWomen_TW19_20191205_1MA9613_1920.jpg

‘We Are Not Performative About Our Work’: A Full Circle Moment For Time100 Honoree

Elon Musk is dialing down his DOGE role that triggered protests and vandalism at Tesla stores. But its EV business needs a hit product and none is on the horizon. And the company’s booming battery business, a Q1 bright spot, will suffer from Trump’s tariffs.



This week, Tesla posted its worst quarterly results in four years. Sales were down 9%. Income plummeted 71%—hurt by a 20% drop in automotive revenues. And given tariffs and rocky market headaches, the company didn’t bother giving sales targets for the rest of the year.



But the stock rallied, jumping 9% since Tuesday as investors cheered one thing: Elon Musk says he&#8217;ll soon step back from his duties gutting the federal government through DOGE, and return to running the show at Tesla in a more full-time capacity (excepting his other responsibilities at SpaceX, xAI and Neuralink).



That&#8217;s not the cure-all investors seem to think it is. The problems Tesla now faces have been exacerbated by Musk joining the Trump Administration as a &#8220;special government employee&#8221; — declining profit margins, intensifying competition and a tarnished brand image. And they show no signs of disappearing any time soon, even if Musk becomes a more active CEO again. Worse, it&#8217;s becoming clear Musk has run out of ideas for how to fix them, instead fixating on an uncertain future focused on robotaxis and humanoid robots.



For now, Tesla profits from selling cars and battery storage systems and both businesses are in trouble. It has no successor to monster sellers like the Model Y and Model 3 (Cybertruck, its latest release,&nbsp;<a href="https://www.forbes.com/sites/alanohnsman/2025/04/03/elons-edsel-tesla-cybertruck-is-the-auto-industrys-biggest-flop-in-decades/">has been one of the biggest flops in automotive history</a>). At the same time, it’s about to get hit by President Trump’s tariffs, which are expected to chill auto sales across the industry. Worse for Tesla though, a coming 145% tariff on imported Chinese battery cells is set to hammer the company’s battery pack business, one of the only bright spots last quarter.



Musk downplayed these problems on the April 22 results call. “We’re not on the ragged edge of death, not even close,” he said. “There are some challenges, and I expect that … there will probably be some unexpected bumps this year.”



<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
“This time, it’s not about the product. It’s about the person. It’s too late to separate man and brand. And in the meantime, it’s lost its EV advantage.”Sue Benson, The Behaviours Agency
</blockquote>



Some, though, are entirely expected. Though Musk’s political activities have been more time-consuming since Trump returned to office on Jan. 20–aided by&nbsp;<a href="https://www.nytimes.com/2024/12/05/us/politics/elon-musk-trump-rbg-election.html" rel="noreferrer noopener" target="_blank">$250 million</a>&nbsp;from the world’s richest person–his&nbsp;<a href="https://www.reuters.com/world/musk-rallies-far-right-europe-tesla-is-paying-price-2025-03-04/" rel="noreferrer noopener" target="_blank">embrace of rightwing politics</a>&nbsp;and<a href="https://www.theguardian.com/technology/2025/jan/04/elon-musk-x-trump-far-right" rel="noreferrer noopener" target="_blank">&nbsp;inflammatory social media comments</a>&nbsp;have tarnished Tesla’s brand image for well over a year, particularly in important markets like California and Europe. Multiple polls, including one by&nbsp;<a href="https://law.marquette.edu/poll/" rel="noreferrer noopener" target="_blank">Marquette University Law School</a>&nbsp;this month, found that 60% of people surveyed had an unfavorable view of Musk and 58% disapproved of his DOGE work. A YouGov/Yahoo News survey last month found that&nbsp;<a href="https://www.yahoo.com/news/two-thirds-of-americans-now-say-they-wouldnt-drive-a-tesla--and-most-of-them-cite-elon-musk-as-the-reason-why-according-to-a-new-poll-152619516.html" rel="noreferrer noopener" target="_blank">67% of Americans</a>&nbsp;would not consider buying or leasing a Tesla, with most saying Musk was the reason.



“Remember VW’s emissions scandal? One regulatory crisis cost it tens of billions and its reputation. That’s where Tesla is now,” said Sue Benson, CEO and founder of The Behaviours Agency, a U.K.-based marketing firm. “Except this time, it’s not about the product. It’s about the person. It’s too late to separate man and brand. And in the meantime, it’s lost its EV advantage.”



And while Musk may be spending more time at the Austin-based auto company, he also still oversees SpaceX, X, the Boring Company and Neuralink (in addition to fathering his “legion” of more than a dozen children). Long before DOGE, his bandwidth was already limited.



“He said what he thought people wanted to hear,” said Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management, who holds the company’s shares but has advocated for Musk to resign. “But he’s still going to go run xAI, he’s still going to keep doing what he’s doing at Tesla, SpaceX and X and still be involved with DOGE. What’s changed?”



The most pressing challenge for Tesla is reversing the decline in its EV sales, down 13% in the first quarter. More alarming is that automotive revenue dropped 20%, meaning it sold fewer vehicles and charged less for them. The entirety of its $409 million profit came from regulatory credits — free money it gets from other automakers to comply with pollution rules in the U.S., California and the EU. Without the $595 million in credits Tesla sold in the quarter––it would have posted a net loss.



The simplest, most obvious fix for ailing sales is a new model. Rather than doing that, however, Musk and his engineers are readying refreshed, and cheaper, versions of the Y and 3, which went on sale in 2020 and 2017, respectively. Rather than doing what traditional automakers call a “full” model change, where the body shape and interior are dramatically altered, the 2025 Model Y is more of a refresh of the 2024 version, with a new light bar running across the front hood and rear sections, sleeker headlights and more aerodynamic wheels.



That could provide a jolt to sales, but it’s not a winning long-term strategy. There’s a reason why car companies regularly release new models. Dramatic styling changes typically produce better results, according to industry researcher Glenn Mercer, who leads Cleveland-based advisory firm GM Automotive. “Just leaving these models in the market forever, with no significant sheet metal changes, means they are–to overstate things–zombies,” Mercer told&nbsp;Forbes.



Neither Musk nor Lars Moravy, Tesla’s head of vehicle engineering, shared details of how the company planned to offer the cheaper variants on the earnings call. Industry analysts expect Tesla to do this by using a smaller, cheaper battery pack with less driving range and eliminating tech features.



“If instead of restyling, Tesla just lowers prices by removing things–like they already removed ultrasonic parking sensors, for example–that&#8217;s even worse,” Mercer said. “Usually at this point in a decaying model&#8217;s lifecycle, you start adding stuff to divert people from seeing the ancient underlying appearance.”



<h2 class="wp-block-heading" id="h-ev-competition">EV Competition</h2>



You know who does have newer models? Fast-growing Chinese EV makers, particularly BYD, as well as domestic competitors like General Motors, Hyundai, Kia, Honda and Rivian. It’s no wonder Tesla’s share of EV sales has dropped to 43% in the first quarter, down from 75% three years earlier.



Until a few years ago, Musk claimed Tesla would sell 20 million EVs a year by the end of the 2020s. Now, he’s quietly dropped that goal, pivoting to a new business model built on selling robotaxi rides, AI services and worker robots.



“The future of the company is fundamentally based on large-scale autonomous cars and large-scale, large volume, vast numbers of autonomous humanoid robots,” Musk said this week. “So the value of a company that makes truly useful autonomous humanoid robots and autonomous useful vehicles at scale at low cost, which is what Tesla is going to do, is staggering.”



<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
“It makes no sense. Cybercab should have just been a two-door, small $25,000 Tesla.”Ross Gerber
</blockquote>



That may be true, but Tesla hasn’t demonstrated it can do it. Waymo is the de facto leader in robotaxis, using vehicles equipped with far more elaborate sensors and computing capabilities than Musk plans. Meanwhile, Boston Dynamics for years has demonstrated humanoid and animal-style robots that appear to have far greater capabilities than Tesla’s wobbly Optimus. (One near-term problem: Musk said on the earnings call that Tesla can’t get rare-earth magnets the robot’s motors need right now owing to retaliatory restrictions that China, the sole supplier, implemented in response to Trump’s tariffs.)



Investors like Gerber want to see Musk prioritize new products instead. He thinks the Cybercab concept that Tesla showed off last fall, which Musk pitched as a futuristic robotaxi model with no steering wheel, could instead have been sold as a lower-priced EV.



“It makes no sense. Cybercab should have just been a two-door, small $25,000 Tesla,” he said. “Just do the Cybercab with a steering wheel and scale it up. It&#8217;s a cool-looking car and looks different than any other in its lineup and could attract new customers, especially if it’s $25.000. Doing a stripped-down Model Y is kicking themselves in the kneecap.”



<hr class="wp-block-separator has-alpha-channel-opacity"/>



<h2 class="wp-block-heading">Tariff Impact</h2>



Tesla is somewhat better insulated against Trump’s tariffs as it doesn’t import vehicles built abroad, or even from Canada and Mexico as most other automakers do. But it still sources steel, aluminum and auto parts from outside the U.S. so will be hurt by higher costs for those products. And tariffs will especially hurt its most successful business beside EVs: energy generation and storage, where it sells battery packs to homeowners, utilities and companies. In Q1, Tesla posted a 67% jump in this business line’s revenue to $2.73 billion.



But for these battery packs, Tesla relies on lithium-iron-phosphate (LFP) battery cells made in China, which will now get stung by Trump’s 145% tax on imported Chinese goods. Tesla had planned to begin making LFP cells this year at its battery gigafactory in Nevada under a new licensing agreement with China’s CATL, the world’s biggest maker of EV batteries. They would be cheaper than the lithium-ion cells that go into Tesla’s EV packs. But that plan has now stalled.



“The impact of tariffs on the energy business will be outsized since we source LFP battery cells from China,” Tesla CFO Vaibhav Taneja said on the call. “We’re in the process of commissioning equipment for the local manufacturing of LFP battery cells in the U.S. However, the equipment which we have can only service a fraction of our total installed capacity of late.”



That means much higher prices for Tesla’s Megapacks and less business, especially from utilities buying them to store solar- and wind-generated electricity.



“Nobody, not even Tesla, makes LFP in the U.S. The 145% tariffs mean prices for those cells go up for everybody,” said a person familiar with Tesla’s battery operations who declined to be identified for fear of reprisal. “The utilities are just not willing to pay that higher price. It&#8217;s not like Tesla will lose out to competition. In this case, the market just disappears as the price goes up.”



Gerber, a long-time Musk fan who’s become an outspoken critic, sees no sign that Elon has any ideas to fix Tesla’s near-term product strategy, even if he’s doing less DOGE work.



“I just don’t see this as any big change for the better at Tesla,” he said. “It’s not going to solve their problems.”

GERMANY-AUTOMOBILE-TESLA-MUSK

Elon Musk Is Running Out Of Ideas To Save Tesla

With the commodity maintaining its status as a safe-haven asset amid economic uncertainty, the stakes are high for African economies—especially those heavily reliant on commodities or with currencies pegged, informally, to the U.S. dollar.



Gold prices rebounded on Thursday, recovering from a sharp midweek drop as global investors seemingly reevaluated various factors relating to U.S. trade policy, inflation, and monetary tightening.



However, for African economies, the story goes beyond market sentiment and could be seen as a signal of widening currency pressures and rising borrowing costs.



“Gold prices tend to go up in times of uncertainty. And this time the uncertainty is unprecedented,” Nigerian investment commentator, Efe Ogunnaiya, says to FORBES AFRICA. “For us in Africa, gold is tied to USD and, as such, it has brought pressure on our currencies.”



Earlier in the week, gold surged to an all-time high nearing $3,500 per ounce. This was reportedly driven by escalating tensions between the U.S. and China, and market concern around public discourse on Federal Reserve Chair, Jerome Powell by U.S. President, Donald Trump.



But that momentum reversed on Wednesday after Trump signaled a likely reduction in tariffs and affirmed that he would not remove Powell—triggering a swift pullback in gold to around $3,350 by Thursday. FXstreet reported that the gold price lowered to around $3,310 in Monday’s early Asian session.



The dollar index, a measure of the greenback’s strength against other major currencies, has declined by about 8% over the past few months. However, this hasn’t translated into relief for African currencies like Nigeria’s naira.



“The dollar is still strong relative to what’s happening in our local markets,” Ogunnaiya explains.



“If we add the gold element to it, you see that [it] has helped investors to weather inflation and currency volatility.”



The knock-on effect for Nigeria has been immediate. To contain demand for dollars and attract capital, the Central Bank of Nigeria (CBN) has raised rates on short-term Open Market Operations (OMO) bills. The 319-day tenor is now yielding approximately 22.7%. At the same time, yields on Nigeria’s Eurobonds have surged by nearly 200 basis points as investors reprice risk.



Meanwhile, some analysts have said that the recent pattern in gold pricing—a bearish “shooting star” technical formation—suggests caution. While gold may still reattempt its record high, traders are closely watching support zones around $3,145 and $2,955, which align with key Fibonacci retracement levels and previous swing highs.



For Africa, the implications of this volatility are far-reaching. Commodities like gold serve as a buffer for countries facing external shocks, but the same safe-haven appeal is drawing capital away from riskier assets—including African sovereign debt and equities.



“This pause that the U.S. has placed [on tariffs] means that other governments and investors now have to recalibrate their worst-case scenarios,” Ogunnaiya says. “In doing so, they’re looking for strategies that will calm down portfolios.”

Uptrend gold investment background, Digital illustration of gold bars with an overlaying stock market graph representing wealth and investment strategies. 3d rendering

Gold’s Resurgence Could Signal Deeper Currency Pressures For African Economies

<h2 class="wp-block-heading" id="h-topline">Topline</h2>



Shein and Temu, major online retailers known for their wildly low prices, said they would raise prices for some products Friday after President Donald Trump imposed hefty tariffs on China, though it’s unclear which products will get more expensive, or by how much.



<h2 class="wp-block-heading">Key Facts</h2>



<a href="https://us.shein.com/campaigns/sheincustomernotice" rel="noreferrer noopener" target="_blank">Shein</a>&nbsp;and&nbsp;<a href="https://www.temu.com/common-policy.html?policy=temucustomernotice" rel="noreferrer noopener" target="_blank">Temu</a>&nbsp;said in nearly identical notices to customers this week they would increase prices on goods, though they did not specify how much more expensive certain items would become.



Both retailers attributed their impending price increases to Trump’s tariffs on U.S. imports, which both companies said have caused their operating costs to rise.



Both Shein and Temu primarily produce goods in China, Trump’s biggest tariff target, which now faces a total tariff rate of 145% and has demanded that Trump drop the steep tariffs.



Sales for both Shein and Temu spiked after Trump announced his tariffs policy,&nbsp;<a href="https://www.bloomberg.com/news/articles/2025-04-16/temu-shein-see-us-sales-surge-ahead-of-small-parcel-tariff" rel="noreferrer noopener" target="_blank">Bloomberg reported</a>&nbsp;last week.



Forbes has reached out to Shein and Temu for comment.



<h2 class="wp-block-heading">How Have Consumers Reacted To Shein And Temu’s Price Increases?</h2>



Consumers have largely flocked to Shein and Temu because of their extremely low prices, prompting some to raise alarms on social media about the price increases. One user posted a&nbsp;<a href="https://www.tiktok.com/@notchiaraaceto/video/7495482729983659294?is_from_webapp=1&amp;sender_device=pc" rel="noreferrer noopener" target="_blank">video</a>&nbsp;suggesting the best deals for consumers to take advantage of before the price increases take effect, including earrings for $2, a reusable water bottle resembling a Stanley cup for $21 and sunglasses for $3. Another&nbsp;<a href="https://www.tiktok.com/@maryah781/video/7495013921414303019?is_from_webapp=1&amp;sender_device=pc" rel="noreferrer noopener" target="_blank">user</a>, who has 75,000 followers and regularly reviews Shein products, urged her followers to place their orders before Shein raises prices and said in the comment section she wouldn’t be placing any more orders after the price hikes. Some users posted videos joking they were ordering their last “Shein hauls” before the price increases, including&nbsp;<a href="https://www.tiktok.com/@ramuleus/video/7491065553679945002?is_from_webapp=1&amp;sender_device=pc" rel="noreferrer noopener" target="_blank">one</a>&nbsp;who garnered 1 million likes joking he’d avoid tariffs by crossing the ocean to pick up his Shein packages.



<h2 class="wp-block-heading">What’s The Latest On Trump’s China Tariffs?</h2>



Trump&nbsp;<a href="https://www.forbes.com/sites/alisondurkee/2025/04/10/trumps-tariffs-on-china-are-now-at-least-145-white-house-confirms-higher-than-he-previously-claimed/">hiked his tariffs</a>&nbsp;on China multiple times to a rate of 145%.&nbsp;<a href="https://www.cnn.com/2025/04/22/business/trump-china-trade-war-reduction-hnk-intl/index.html" rel="noreferrer noopener" target="_blank">Trump said</a>, however, those rates would “come down substantially, but it won’t be zero,” at the White House on Tuesday, acknowledging the rate of 145% is “very high.” The shift came after weeks of back-and-forth with China as neither side appeared to back down amid an escalating trade war. Trump claimed Wednesday that China and the United States are “actively” negotiating tariff de-escalation, but Chinese foreign ministry spokesperson&nbsp;<a href="https://www.nbcnews.com/news/world/tariff-trade-war-china-beijing-trump-washington-us-economy-markets-rcna202535" rel="noreferrer noopener" target="_blank">Guo Jiakun</a>&nbsp;responded that the sides “have not engaged in any consultations or negotiations regarding tariffs, let alone reached an agreement.” Chinese Ministry of Commerce spokesperson&nbsp;<a href="https://www.forbes.com/sites/siladityaray/2025/04/24/china-demands-rollback-on-all-unilateral-tariffs-as-it-rebuffs-trumps-offer-to-negotiate/">He Yadong</a>&nbsp;said Thursday China is open to negotiations, but they must be fair and mutual, urging the U.S. to “cancel all unilateral tariff measures against China.”



<h2 class="wp-block-heading">Key Background</h2>



Shein and Temu both emerged in recent years as hugely popular, yet controversial, retailers that have dominated the fast fashion and e-commerce spaces. Shein reported $38 billion in total sales in 2024, up 19% from the year prior, though its profits dropped by more than a third, the&nbsp;<a href="https://www.ft.com/content/021b5460-76e1-408d-83f6-91b9e05180d7" rel="noreferrer noopener" target="_blank">Financial Times reported</a>. AB Bernstein and Tech Buzz China analysts told&nbsp;<a href="https://www.wired.com/story/temus-takeover-is-now-complete/" rel="noreferrer noopener" target="_blank">Wired</a>&nbsp;in December Temu was on track to reach $50 billion in sales in 2024. Their dominance has inspired multiple competitors to launch their own low-priced e-commerce storefronts, including Amazon’s&nbsp;<a href="https://www.forbes.com/sites/conormurray/2024/11/13/what-to-know-about-amazon-haul-e-commerce-giants-new-temu-and-shein-competitor/">Amazon Haul</a>, which launched in November, and TikTok’s TikTok Shop. But Shein and Temu have both faced criticism for the allegedly poor quality of their products and accusations of poor working conditions. A&nbsp;<a href="https://www.nytimes.com/2023/06/22/business/economy/shein-temu-forced-labor-china.html" rel="noreferrer noopener" target="_blank">congressional inquiry</a>&nbsp;in 2023 found an “extremely high risk that Temu’s supply chains are contaminated with forced labor,” while a&nbsp;<a href="https://www.bloomberg.com/news/features/2022-11-21/shein-s-cotton-clothes-tied-to-xinjiang-china-region-accused-of-forced-labor" rel="noreferrer noopener" target="_blank">Bloomberg report</a>&nbsp;found some cotton used in Shein’s products came from Xinjiang, a region of China where U.S. officials allege China is committing human rights abuses against the Uyghur people. Both Shein and Temu have also sparked scrutiny for their ties to China, though neither is headquartered there.&nbsp;<a href="https://finance.yahoo.com/news/curious-case-temu-u-headquarters-154253838.html" rel="noreferrer noopener" target="_blank">Temu’s headquarters</a>&nbsp;are located in Boston, though the company is owned by the Chinese e-commerce company PDD.&nbsp;<a href="https://www.reuters.com/markets/us/exclusive-chinese-fashion-firm-shein-singapore-hiring-spree-it-shifts-key-assets-2022-02-16/" rel="noreferrer noopener" target="_blank">Shein moved</a>&nbsp;its headquarters from China to Singapore in 2022.



<h2 class="wp-block-heading">Further Reading</h2>



<a href="https://www.forbes.com/sites/siladityaray/2025/04/24/china-demands-rollback-on-all-unilateral-tariffs-as-it-rebuffs-trumps-offer-to-negotiate/">China Demands Rollback On All Unilateral Tariffs As It Rebuffs Trump’s Offer To Negotiate</a>&nbsp;(Forbes)



<a href="https://www.nbcnews.com/news/world/tariff-trade-war-china-beijing-trump-washington-us-economy-markets-rcna202535" rel="noreferrer noopener" target="_blank">Trump says the U.S. and China are &#8216;actively&#8217; discussing tariffs. Beijing says that&#8217;s false.</a>&nbsp;(NBC News)

Trending Apps Photo Illustrations

Shein And Temu Will Raise Prices Amid Trump Tariffs—What To Know

<a href="https://www.forbes.com/sites/dereksaul/2025/04/24/google-earnings-stock-soars-as-q1-results-shatter-expectations/#open-web-0"></a>



<a href="https://www.forbes.com/sites/dereksaul/2025/04/24/google-earnings-stock-soars-as-q1-results-shatter-expectations/#open-web-0"></a>



<h2 class="wp-block-heading" id="h-topline">Topline</h2>



Google parent Alphabet reported first-quarter earnings Thursday afternoon, becoming the first of the trillion-dollar U.S. technology behemoths to report earnings from the first quarter, a period marred by&nbsp;<a href="https://www.forbes.com/sites/dereksaul/2025/04/21/forbes-recession-tracker-recession-odds-spike-as-trumps-tariff-liberation-day-approaches/">elevated</a>&nbsp;economic uncertainty that could weigh on the advertising-heavy Google.



<h2 class="wp-block-heading" id="h-key-facts">Key Facts</h2>



Alphabet brought in $90.2 billion of revenue in Q1, topping consensus analyst estimates of $89.2 billion, and $2.81 diluted earnings per share ($34.5 billion net income), smashing forecasts of $2.01 EPS ($24.8 billion net income), according to FactSet.



That equates to 12% top line expansion from Q1 2024 and 49% bottom line growth year-over-year.



Alphabet’s bread-and-butter Google search unit generated $50.7 billion in sales, compared to forecasts of $50.5 billion, and its artificial intelligence-heavy Google cloud brought in $12.3 billion, matching projections of $12.3 billion.



Google stock jumped about 5% in after-hours trading immediately following the release, and its $169 afternoon share price has the tech firm on track to open at its highest level in four weeks.



The company also announced Thursday board authorization for a $70 billion&nbsp;<a href="https://www.forbes.com/sites/dereksaul/2024/05/09/what-are-stock-buybacks-the-apple-led-strategy-is-expected-to-swell-to-1-trillion-by-2025/">stock buyback</a>&nbsp;program, and it will increase its quarterly cash dividend by 5% to $0.21.



<h2 class="wp-block-heading" id="h-google-mum-on-tariffs">Google Mum On Tariffs</h2>



In the earnings call, Google CEO Sundar Pichai&nbsp;<a href="https://x.com/TheTranscript_/status/1915512617357238675" rel="noreferrer noopener" target="_blank">declined</a>&nbsp;to “speculate about potential impacts” of tariffs, before adding the&nbsp;<a href="https://www.forbes.com/sites/conormurray/2025/04/24/shein-and-temu-will-raise-prices-tomorrow-amid-trump-tariffs-what-to-know/">rollback</a>&nbsp;of the de minimis tariff exemptions will “obviously cause a slight headwind to our ads business in 2025, primarily from” Asian retailers. Google is grappling with a “negative tariff ad spend impact,” according to Bank of America analyst Justin Post, specifically noting declining spending from Chinese discount retailers Temu and Shein as Trump’s more than 100% tariffs on Chinese imports stifle the flow of goods from the country to U.S. consumers. Still, Google has “relatively less” pressure from the choppy operating environment, according to Post. About 4% to 5% of Google’s revenues come from Chinese companies spending on U.S. advertising, according to Bernstein analyst Mark Shmulik, much less than the 7% to 8% exposure from Google’s top digital advertising rival, Facebook parent Meta.



<h2 class="wp-block-heading" id="h-google-stock-bounced-before-earnings-as-nasdaq-jumped-2">Google Stock Bounced Before Earnings As Nasdaq Jumped 2%</h2>



Shares of Google rose during Thursday’s regular session ahead of the release, gaining more than 2% to $161, the highest level in two weeks. The bounce came as stocks continued to rally on renewed hopes President Donald Trump would&nbsp;<a href="https://www.forbes.com/sites/dereksaul/2025/04/23/stocks-surge-as-trump-softens-on-china-tariffs/">keep backing down</a>&nbsp;from his most aggressive tariff plans, and the tech-heavy Nasdaq index rose nearly 3% on Thursday, heading to its third consecutive day of an at least 2% rally. That’s the first time the Nasdaq has risen by that much in three straight trading sessions since 2001,&nbsp;<a href="https://x.com/bespokeinvest/status/1915450647832416503" rel="noreferrer noopener" target="_blank">according</a>&nbsp;to Bespoke Investment Group. Still, Google stock is down 16% year-to-date, slightly worse than the tech-heavy Nasdaq’s 12% decline as fears of an economic slowdown tied to Trump’s trade war&nbsp;<a href="https://www.forbes.com/sites/dereksaul/2025/04/14/trump-celebrates-last-weeks-largest-gain-in-stock-market-history-but-stocks-are-still-down-during-his-second-term/">broadly</a>&nbsp;ate into investor confidence.



<h2 class="wp-block-heading" id="h-crucial-quote">Crucial Quote</h2>



“If investing in US tech stocks was difficult right now, underwriting Google might be the closest thing to impossible,” Shmulik wrote Wednesday. Among the massive unknowns swirling around Google are recession concerns, tariff exposure, potential for generative AI to disrupt online search, a “library of regulatory overhangs” and a “potential lightning rod for international retaliation” against American entities, explained Shmulik.



<h2 class="wp-block-heading" id="h-tangent">Tangent</h2>



Among the “library” of regulatory hurdles facing Google include high-profile monopoly probes from U.S. prosecutors. A federal judge&nbsp;<a href="https://www.reuters.com/technology/us-judge-finds-google-holds-illegal-online-ad-tech-monopolies-2025-04-17/" rel="noreferrer noopener" target="_blank">ruled</a>&nbsp;last week Google maintains an illegal monopoly in advertising technology, and the Justice Department&nbsp;<a href="https://www.nytimes.com/2025/04/21/technology/google-search-remedies-hearing.html" rel="noreferrer noopener" target="_blank">argued</a>&nbsp;in an ongoing antitrust case the company should be forced to sell its Chrome web browser.



<h2 class="wp-block-heading" id="h-key-background">Key Background</h2>



Google is one of the six West Coast tech companies with market values of at least $1 trillion, joined by Apple, Microsoft, Nvidia, Amazon and Meta (those companies are often lumped together with Elon Musk’s Tesla to form the “magnificent seven”). Google was a key part of the massive tech stock rally as generative AI’s popularity spiked, as its share price more than doubled from the end of 2022 to 2024. But big tech has stalled on Wall Street as recession fears escalated, as Bloomberg’s magnificent seven index has declined about 20% in 2025.



<h2 class="wp-block-heading" id="h-what-to-watch-for">What To Watch For</h2>



Next week, Amazon, Apple, Meta and Microsoft will all report earnings from 2025’s first three months. Tesla, the least valuable member of the magnificent seven, shared its Q1 report Tuesday,&nbsp;<a href="https://www.forbes.com/sites/dereksaul/2025/04/22/tesla-earnings-elon-musks-firm-reports-worst-quarterly-profit-since-2021/">missing</a>&nbsp;on both profit and revenue forecasts.

FRANCE-ECONOMY-TECHNOLOGY-VIVATECH

Google Earnings: Stock Soars As Q1 Results Shatter Expectations

<h2 class="wp-block-heading" id="h-topline">Topline</h2>



Chinese officials on Thursday dismissed talks of any progress in trade negotiations with the U.S. and reiterated their stance that Washington must drop all unilateral tariffs against Beijing, two days after President Donald Trump appeared to soften his stance on levies against China and signaled trade talks between both sides could happen soon.



<h2 class="wp-block-heading">Key Facts</h2>



In a press briefing, Chinese Ministry of Commerce spokesperson He Yadong addressed&nbsp;<a href="https://www.forbes.com/sites/siladityaray/2025/04/23/us-futures-and-asian-markets-rise-after-trump-suggests-china-tariffs-will-come-down-substantially/">comments</a>&nbsp;by Trump and Treasury Secretary Scott Bessent about lowering tariffs with China through trade negotiations.



The spokesperson said China is open to talks, but any such dialogue must be “conducted on an equal footing and based on mutual respect,” and the U.S. must correct its “wrong practices” before engaging with Beijing.



The spokesperson accused the U.S. of “unilaterally” provoking a trade war and warned that “pressure, threats and blackmail” were not the right approach to deal with China.



On Trump’s comments about “substantially” lowering tariffs on Chinese goods, He said the “unilateral tariff increase” was started by the U.S. and if Washington wants to resolve the issue, it must: “cancel all unilateral tariff measures against China.”



He also noted that any claims of progress in China and U.S. trade talks were “groundless and have no factual basis.”



<h2 class="wp-block-heading">What Else Has Beijing Said About Trump’s Talks Of Lowering Tariffs?</h2>



Chinese Foreign Ministry spokesperson Guo Jiakun also addressed the matter during the ministry’s&nbsp;<a href="https://www.mfa.gov.cn/eng/xw/fyrbt/lxjzh/202504/t20250423_11602511.html" rel="noreferrer noopener" target="_blank">daily press conference</a>, saying the “tariff war” was “launched by the U.S.,” and while China was not looking for a fight, it is not afraid of it. “We will fight if we must,” but Beijing’s “doors are open, if the U.S. wants to talk.” Guo noted Washington must stop “threatening and blackmailing China” and said: “To keep asking for a deal while exerting extreme pressure is not the right way to deal with China and simply will not work.”



<h2 class="wp-block-heading">What Did Trump Say About Lowering Tariffs?</h2>



On Tuesday, Trump&nbsp;<a href="https://www.forbes.com/sites/siladityaray/2025/04/23/us-futures-and-asian-markets-rise-after-trump-suggests-china-tariffs-will-come-down-substantially/">told reporters</a>&nbsp;at the Oval Office that he expected Chinese President Xi Jinping to negotiate a trade deal with him, as he promised to be “very nice” to China. The president said he was hopeful a deal would happen soon and acknowledged that the current 145% tariff rate against China was “very high.” The President then suggested he was prepared to lower the tariffs, saying: “It won’t be anywhere near that high. It’ll come down substantially. But it won’t be zero.”



<h2 class="wp-block-heading">What Has Scott Bessent Said About Negotiations With China?</h2>



Trump’s remarks were made shortly after Bessent expressed concerns that the high tariffs both the U.S. and China had imposed on each other was effectively halting all trade between the two countries. Speaking at a event on Tuesday, Bessent&nbsp;<a href="https://www.bloomberg.com/news/articles/2025-04-22/bessent-sees-de-escalation-with-china-situation-unsustainable" rel="noreferrer noopener" target="_blank">acknowledged</a>&nbsp;the 145% tariff on China was essentially a “trade embargo” and such high tariffs were “unsustainable.” At the time, Bessent said he believed the trade tensions would cool in the next few months but noted that a full fledged deal could take two to three years. On Wednesday, Bessent&nbsp;<a href="https://www.cnbc.com/2025/04/23/bessent-china-tariffs-trade-trump.html" rel="noreferrer noopener" target="_blank">addressed the issue</a>&nbsp;again saying “there is an opportunity for a big deal” between China and the U.S. on trade and added, “If they want to rebalance, let’s do it together.” However, the treasury secretary told&nbsp;<a href="https://www.reuters.com/world/china/bessent-says-china-tariffs-are-not-sustainable-us-signals-willingness-de-2025-04-23/" rel="noreferrer noopener" target="_blank">reporters</a>&nbsp;that Trump was not offering to unilaterally lower tariffs on China.



<h2 class="wp-block-heading">Further Reading</h2>



<a href="https://www.forbes.com/sites/siladityaray/2025/04/23/us-futures-and-asian-markets-rise-after-trump-suggests-china-tariffs-will-come-down-substantially/">U.S. Futures And Asian Markets Rise After Trump Suggests China Tariffs Will ‘Come Down Substantially’</a>&nbsp;(Forbes)

Donald Trump Attends Roundtable Discussion On Threat Of China On U.S. Agriculture

China Demands Rollback On All Unilateral Tariffs As It Rebuffs Trump’s Offer To Negotiate

Stitch is one of the latest startups to secure backing from major international firms as global investor appetite for African fintechs continues to rise.



South Africa-based company, Stitch announced a $55 million Series B funding round, which will enable it to deepen and expand its in-person payments offering, move into the acquiring space, and further bolster its online payments suite.



The round was led by QED Investors, a VC in the fintech space, with participation from Norrsken22, Flourish Ventures and Glynn Capital, and angels, including comedian Trevor Noah.



Junaid Dadan, Co-Founder and President at Stitch tells FORBES AFRICA that the company, which helps businesses connect to the financial system, was founded because this system in South Africa was not transforming quickly enough as business models and the economy transformed.



“In the last ten years, there have been a lot of changes especially when we look at how people build businesses,” he says.



“But the financial system doesn’t necessarily fully reflect all of those changes.”



One example that Dadan highlights is how online businesses operate 24/7 and all year round—often serving customers, globally, across time zones—and banks still process payments strictly during traditional business hours, creating a disconnect that can hinder growth and efficiency.



While Stitch has managed to scale rapidly and attract major backing, many African startups do still struggle to move beyond early-stage funding.



According to a MacAdebowale 2025 report, Small and Medium Enterprises (SMEs) on the continent make up over 90% of the businesses and are responsible for about 50% of the total GDP in sub-Saharan countries, however they only receive only a fraction of available funding.



The report further notes that in 2019, venture capitalists poured over $2 billion into African startups yet SMEs, the backbone of Africa’s economy, saw less than 20% of that capital.



Despite this hurdle, Dadan adds that, at the core, people need to provide solutions that fully accommodate the customer.



“If one is building a real business that’s solving real customer problems with proper fundamentals and metrics which support investment, then I think funding is available for that,” he says.



“Customers have always been our biggest advocates, ultimately, and therefore funding has followed.”



QED Investors Partner and Head of Africa and the Middle East, Gbenga Ajayi said in a statement: “Having closely followed the Stitch team over the past four years, it’s been impressive to watch their rapid growth and execution in becoming a trusted payment provider”.



Although this is something to celebrate there is still the matter of global investors potentially hindering the African market from becoming a self-sustaining ecosystem.



However, Dadan explains that there is room for both, especially when looking at the appetite of each of the investors. From his experience, international investors have a higher risk appetite.



“They have more experience with early-stage ventures, how to assess them and how to take a risk on them, and are willing to take those leaps of faith.”



He also believes that African investors have a better lay of the land and can help reach local markets. They help with regulation and compliance as they understand the sectors that they operating in as well, wherein foreign investors may have some difficulty with that.



“It’s always important to have a blend of the two, and [to see] what each brings to the table, both from a pros and cons perspective.”



The company offers solutions encompassing unified commerce, collections and account top-ups. Total funding has reached $107 million since its inception in 2021.

JunaidDadan_Headshot

‘Customers Have Always Been Our Biggest Advocates ’: South African Fintech Seeks To Bolster Online Payments Suite

<h2 class="wp-block-heading" id="h-topline">Topline</h2>



Meta’s oversight board criticized the company’s updated hateful conduct policies, which included a provision allowing users to describe LGBTQ people as mentally ill, among other controversial updates, urging the company to assess the “human rights impact” of the policy on LGBTQ people, minors and immigrants.



<h2 class="wp-block-heading" id="h-key-facts">Key Facts</h2>



The Meta&nbsp;<a href="https://www.oversightboard.com/news/wide-ranging-decisions-protect-speech-and-address-harms/" rel="noreferrer noopener" target="_blank">oversight board</a>, which makes company decisions and conducts mediations and is sometimes referred to as Meta’s “Supreme Court,” issued a response to Meta’s hateful conduct policy change Wednesday, criticizing the update as “hastily” made.



Meta’s hateful conduct policy was updated “in a departure from regular procedure, with no public information shared as to what, if any, prior human rights due diligence the company performed,” the oversight board said.



The oversight board called on Meta to assess whether its updated hateful conduct policy would pose a threat to human rights, demanding the company provide a public report.



The oversight board also urged Meta to assess the effectiveness of its “community notes” policy, which it had adopted after abandoning third-party fact checking.



A Meta spokesperson told Forbes the company “respond to their full recommendations within 60 days in accordance with the bylaws.”



<h2 class="wp-block-heading" id="h-how-did-meta-update-its-hateful-conduct-policy">How Did Meta Update Its Hateful Conduct Policy?</h2>



Meta announced sweeping changes to its hateful conduct policy and other content moderation standards on Jan. 7, which it billed as an attempt to improve free speech and reduce censorship on its social media platforms. The policy changes included renaming the “hate speech” policy to “hateful conduct,” and according to the&nbsp;<a href="https://transparency.meta.com/policies/community-standards/hateful-conduct/" rel="noreferrer noopener" target="_blank">policy’s change log</a>&nbsp;on the Meta website, many references to specific examples of hateful conduct were erased, while other controversial examples were added. Among the updated policy changes is a provision that clarifies: “We do allow allegations of mental illness or abnormality when based on gender or sexual orientation, given political and religious discourse about transgenderism and homosexuality and common non-serious usage of words like ‘weird.’” Under a section barring dehumanizing speech, Meta erased a previous provision that had prohibited people from evoking offensive stereotypes, including referring to “women as household objects or property or objects in general” and “transgender or non-binary people as ‘it.’” Meta also abandoned its&nbsp;<a href="https://about.fb.com/news/2025/01/meta-more-speech-fewer-mistakes/" rel="noreferrer noopener" target="_blank">third-party fact-checking</a>&nbsp;program in favor of a community notes program like that on X, stating it would be “less prone to bias.”



<h2 class="wp-block-heading" id="h-why-were-meta-s-conduct-policy-updates-controversial">Why Were Meta’s Conduct Policy Updates Controversial?</h2>



Meta’s updated policies drew scrutiny and allegations it would lead to increased discrimination against LGBTQ people, women and people of color. The&nbsp;<a href="https://www.hrc.org/news/metas-new-policies-how-they-endanger-lgbtq-communities-and-our-tips-for-staying-safe-online" rel="noreferrer noopener" target="_blank">Human Rights Campaign</a>&nbsp;said these policy changes “create fertile ground for misinformation, identity-based harassment, and abuse, and threaten LGBTQ+ inclusion and safety across Meta,” accusing the company of taking “specific aim at LGBTQ+ people.”



<h2 class="wp-block-heading" id="h-how-did-mark-zuckerberg-defend-meta-s-policy-updates">How Did Mark Zuckerberg Defend Meta’s Policy Updates?</h2>



Meta CEO Mark Zuckerberg had defended Meta’s content moderation policy updates as a move to improve free speech, particularly during a high-profile appearance on Joe Rogan’s podcast, which has more than 9 million views on Rogan’s&nbsp;<a href="https://youtu.be/7k1ehaE0bdU?feature=shared" rel="noreferrer noopener" target="_blank">YouTube</a>&nbsp;channel. Zuckerberg said Facebook’s fact-checking policy was like “something out of 1984,” stating people felt the fact-checkers were too biased. “It really is a slippery slope, and it just got to a point where it&#8217;s just, OK, this is destroying so much trust, especially in the United States, to have this program,” praising Elon Musk’s X for adopting a community notes program in place of fact-checking. Zuckerberg said cracking down on hate speech “got to this point where there were things that you couldn’t say which were mainstream discourse,” citing Secretary of Defense&nbsp;<a href="https://apnews.com/article/pete-hegseth-background-defense-secretary-confirmation-hearing-e160e10c86385a8beff110d9190fb34e" rel="noreferrer noopener" target="_blank">Pete Hegseth’s</a>&nbsp;prior statement that women should not serve in certain combat roles, stating this type of speech should be allowed on social media if Hegseth could say it on the floor of Congress. Zuckerberg also said in the Rogan interview companies should adopt more “masculine” energy and accused former President Joe Biden’s administration of calling Meta to “scream” about monitoring Covid-19-related posts.



<h2 class="wp-block-heading" id="h-further-reading">Further Reading</h2>



<a href="https://www.theguardian.com/technology/2025/jan/08/permitted-hateful-conduct-what-users-can-now-say-on-meta-platforms" rel="noreferrer noopener" target="_blank">Revisions of ‘hateful conduct’: what users can now say on Meta platforms</a>&nbsp;(The Guardian)



<a href="https://www.axios.com/2025/01/10/mark-zuckerberg-joe-rogan-facebook-censorship-biden" rel="noreferrer noopener" target="_blank">Zuckerberg on Rogan: Facebook&#8217;s censorship was &#8220;something out of 1984&#8221;</a>&nbsp;(Axios)

Meta CEO Mark Zuckerberg Interview On The Circuit

Meta Oversight Board Urges Company To Assess ‘Human Rights Impact’ Of Hateful Conduct Policy

With a number of notable (and sizeable) solar projects on the continent, could this renewable power source be the solution to economic development, job creation and more?



In a continent where more than half the population—some 600 million people—live without electricity, it seems painfully ironic that Africa is also one of the sunniest places on Earth. The marriage of solar power and the continent feels not only inevitable but long overdue.



“Africa is the region with the most solar potential worldwide–and also the region with the most to gain from the solar revolution,” explains Global Solar Council strategy director, Alyssa Pek.



South Africa, home to 46% of the continent’s new solar installations in 2024, per the Global Solar Council, is a leader in Africa’s ascent towards the utilization of renewable energy resources, followed closely by Egypt at 29%. Both countries could hold the key to Africa’s most ambitious energy projects.



The former boasts KaXu Solar One, a $891-million solar plant covering an area of approximately three square kilometers. According to the Industrial Development Corporation, its output is exuberant, providing clean, sustainable electricity to over 400,000 South Africans while providing job opportunities throughout the construction phase and around 80 permanent jobs during operation.



In Egypt, near the Nile River is where you&#8217;ll find a solar juggernaut: the Benban Solar Park. Stretching across 37 square kilometers, it incorporates 34 solar plants, a testament to the continent’s shift toward large-scale clean energy.



And here lies the smoking gun—a shift away from coal and gas, and towards more accessible solutions.



“When it comes down to financials and economics, what we’re seeing now is that solar is the cheapest form of electricity in the world,” notes Jonathan Hall, Chief Commercial Officer at SOLINK, a technical advisor and project facilitator in renewable energy and battery energy storage.



“How quickly the infrastructure can be built is another plus; when you compare it to a coal power station or nuclear, which can take fifteen to twenty years to build, a large-scale utility solar project can go up in under two years.”



The Global Solar Council forecasts a 42% increase in African solar infrastructure for 2025, illustrating optimism in the continent’s green revolution. Its ability to connect rural areas in Africa, via modular devices, can empower local economies and expand markets.



“More and more, governments across Africa are realizing that solar can be the backbone for realizing a country’s sustainable development goals,” Pek tells FORBES AFRICA, adding that, “solar brings in investment, creates jobs and powers businesses, gives people and communities energy access from urban centers to rural areas [and] can power schools, hospitals and other essential services–and that’s just the tip of the iceberg for what solar can deliver for African countries”.



In collaboration with Investec and Rand Merchant Bank, SolarAfrica, an integrated solutions provider in sub-Saharan Africa’s renewable energy sector, secured around ZAR1.8 billion ($96.7 million) in funding earlier this year, giving the go-ahead for SunCentral solar farm in South Africa.



Meanwhile, Egypt&#8217;s Benban Solar Park attracted $4 billion in investments before breaking ground, with major backers reportedly including the European Bank for Reconstruction and Development, the Green Climate Fund, and the Dutch Development Bank.



World banks and multinational corporations have leapt onto the African solar sector bandwagon. Not only does this show confidence in renewable energy, but the uptick in investment resembles a shifting global trend in energy demand.



According to the International Energy Agency, global renewable energy demand rose by 38% in 2024, compared to 15% for coal and 11% for oil.



“It’s clear that the socioeconomic benefits of solar make it a no-brainer for policymakers, especially as costs for solar and storage are plummeting rapidly making it one of the cheapest and fastest energy sources to deploy to meet the continent’s surging energy demand,” Pek adds.



From powering local communities to creating jobs, cutting energy costs, and reducing carbon emissions, Africa’s solar revolution isn’t just smart—it’s the future.

Aerial view of solar powered house.

A Green Energy Revolution: The Sun Is Shining On Africa’s Solar Sector

Emergency funds and reforms aim to stabilize Mali’s economy after the worst flooding in decades deepens humanitarian crisis.



Following extreme flooding in the second half of 2024 that overwhelmed infrastructure, crippled agricultural output and deepened an already precarious humanitarian crisis, the International Monetary Fund (IMF) has approved $129 million (SDR 93.3 million) in emergency financing for Mali under its Rapid Credit Facility (RCF),



The new funding is aimed at addressing urgent balance-of-payments needs in the aftermath of what authorities have described as a one-in-fifty-year flood. The disbursement is paired with an 11-month Staff-Monitored Program (SMP) designed to help stabilize the economy, strengthen resilience, and promote governance reforms.



The landlocked West African nation—one of the world’s poorest—has long grappled with overlapping challenges: persistent insecurity, weak institutions, and widespread food insecurity. But the floods of 2024 pushed the country into deeper crisis.



In July and August, torrential rains inundated towns and rural communities across Mali, damaging key infrastructure, including health centers, schools, roads, and bridges.



According to Mali’s Minister of Health and Social Development, Colonel Assa Badiallo Touré, the floods led to the collapse of over 47,000 homes and the destruction of nearly 3,000 granaries and warehouses. Thousands of livestock were swept away and more than 88,000 households were directly affected by the loss of farmland and other livelihoods.



The disaster prompted the government to declare a national state of emergency in August and launch a $73 million action plan to rebuild damaged infrastructure and restore essential services. However, the needs have far outstripped domestic capacity, especially as Mali remains under pressure from rising global borrowing costs and dwindling external development assistance.



The IMF’s emergency funding will be used to help Mali import essential goods and repair critical infrastructure. At the same time, the SMP seeks to rebuild macroeconomic stability and credibility with development partners.



&#8220;Heightened security risks, lower gold production, ongoing power outages, and a sharper-than-expected-fiscal consolidation all weighed on growth,&#8221; Kenji Okamura, IMF Deputy Managing Director and Chair, said in a statement. &#8220;Many of the economic headwinds are likely to persist in 2025, and recently announced cuts to official development assistance are expected to create additional pressures.&#8221;



Okamura added that the SMP includes structural benchmarks aimed at improving fiscal transparency and governance, particularly in the management of public resources and state-owned enterprises such as Energie du Mali (EDM), the national electricity provider.



Mali has committed to reforms that include enhancing domestic revenue mobilization, improving public financial management, and ensuring the efficient use of resources. The authorities also pledged to strengthen social safety nets and expand food assistance to vulnerable populations.



Mali’s floods were part of a broader environmental catastrophe that affected several countries in the Central Sahel, including Niger and Nigeria. The region experienced the worst flooding in three decades,



displacing hundreds of thousands and killing hundreds. Rising temperatures—now increasing 50% faster than the global average—are amplifying inequality in a region where most people depend on subsistence farming.



The floods, coupled with record heat earlier in April 2024, illustrate how climate change is intensifying the humanitarian and economic risks for countries like Mali, which are least equipped to respond.



While Mali’s current debt is assessed as sustainable, the IMF has warned that risks have increased. To preserve macroeconomic stability and pave the way for recovery, Mali has been advised to push forward with structural reforms, resolve domestic and external arrears, and create a predictable policy environment to attract investment.

TDV distributes food parcels to families in need affected by floods in Mali

Mali Secures $129 Million IMF Lifeline Amid Devastating Flood Fallout

<h2 class="wp-block-heading" id="h-topline">Topline</h2>



Russian President Vladimir Putin on Monday said he is open to direct bilateral talks with Ukraine for the first time in three years, while Ukrainian President Volodymyr Zelenskyy pushed for a moratorium on strikes against civilian targets, just days after Washington expressed displeasure about the lack of progress towards a peace deal between both sides and threatened to walk away from negotiations.



<h2 class="wp-block-heading">Key Facts</h2>



<a href="https://www.youtube.com/watch?v=5zTE84oVLFM" rel="noreferrer noopener" target="_blank">Speaking to state media reporters</a>&nbsp;in Moscow on Monday, the Russian president said his government has “always looked positively on any peace initiatives,” adding that he hopes officials in Kyiv feel the same way.



Putin also claimed Ukraine agreed to the temporary Easter ceasefire after being pressured to do so by “someone smarter—most likely foreign handlers.”



In a&nbsp;<a href="https://x.com/ZelenskyyUa/status/1914402951084322862" rel="noreferrer noopener" target="_blank">post on X</a>, Ukrainian President Volodymyr Zelenskyy restated Kyiv’s push to extend the Easter ceasefire, saying it shows that peace was possible “when Russia chooses to reduce the killing.”



Zelenskyy said his country “stands by its offer” for an agreement to halt all strikes on civilian infrastructure and the “obvious, simplest, and most reliable way” to do that would be by stopping “missile and long-range drone attacks.”



The Kremlin’s top spokesperson, Dmitry Peskov,&nbsp;<a href="https://tass.com/politics/1946993" rel="noreferrer noopener" target="_blank">later clarified</a>&nbsp;Putin’s comments, saying the Russian president’s comments were “about the option of negotiating the issue of not striking civilian infrastructure facilities, [on] a bilateral basis…he was particularly referring to negotiations and discussions with the Ukrainian side.”



Despite Peskov’s comments and Ukraine’s offer, Putin&nbsp;<a href="https://tass.com/politics/1946969" rel="noreferrer noopener" target="_blank">ordered</a>&nbsp;Russian forces to resume combat operations after the Easter truce.



<h2 class="wp-block-heading">What Do We Know About U.s. Threats To ‘walk Away’ From Russia-Ukraine Talks?</h2>



<a href="https://www.forbes.com/sites/siladityaray/2025/04/18/us-prepared-to-ditch-russia-ukraine-peace-talks-if-there-is-no-progress-soon-rubio-says/">Last week</a>, Secretary of State Marco Rubio expressed frustration about the lack of progress in peace negotiations between Russia and Ukraine and said President Donald Trump’s administration is prepared to “walk away” from the negotiation table if significant progress is not made soon. After a meeting with European leaders in Paris, Rubio told reporters: “If it is not possible to end the war in Ukraine, we need to move on.” He added that the Trump administration would not “continue with this endeavor for weeks and months on end…So we need to determine very quickly now, and I&#8217;m talking about a matter of days, whether or not this is doable in the next few weeks.” The secretary of state also added that Trump felt very strongly about ending the conflict and has “dedicated a lot of time and energy to this,” but there were other “really important things” which deserve “just as much, if not more attention.”



<h2 class="wp-block-heading">What Has Trump Said About Russia-Ukraine Talks?</h2>



When asked about Rubio’s comments, Trump told reporters that if one of the two parties made peace negotiations difficult, “we’re just going to say: ‘You’re foolish. You’re fools. You’re horrible people,’ and we’re going to just take a pass…But hopefully we won’t have to do that.” Trump, however, stopped short of giving a specific deadline, saying he did not have “a specific number of days” in mind but wanted it done &#8220;quickly&#8221;. The president later followed those comments up with a&nbsp;<a href="https://truthsocial.com/@realDonaldTrump/posts/114372126396548824" rel="noreferrer noopener" target="_blank">Truth Social post</a>&nbsp;early on Monday, saying he hoped both sides would “MAKE A DEAL THIS WEEK.” In an apparent bid to incetivize such a move, Trump added: “BOTH WILL THEN START TO DO BIG BUSINESS WITH THE UNITED STATES OF AMERICA, WHICH IS THRIVING, AND MAKE A FORTUNE!”



<h2 class="wp-block-heading">Further Reading</h2>



<a href="https://www.forbes.com/sites/siladityaray/2025/04/18/us-prepared-to-ditch-russia-ukraine-peace-talks-if-there-is-no-progress-soon-rubio-says/">US Prepared To ‘Move On’ From Russia-Ukraine Peace Talks If There Is No Progress Soon, Rubio Says</a>&nbsp;(Forbes)

President Putin Meets Attends Forum By Agency For Strategic Initiatives In Moscow

Putin Says He’s Open To Direct Talks With Kyiv Amid U.S. Threat To Abandon Negotiations

<h2 class="wp-block-heading" id="h-topline">Topline</h2>



Pope Francis has died, the Vatican announced on Monday—after months of severe health ailments, including a bout of severe pneumonia—ending a more than decade-long reign where he pushed to make the Roman Catholic Church a more inclusive institution despite pushback from traditionalists.



<h2 class="wp-block-heading">Key Facts</h2>



Francis’ death was&nbsp;<a href="https://www.vaticannews.va/en/pope/news/2025-04/pope-francis-dies-on-easter-monday-aged-88.html" rel="noreferrer noopener" target="_blank">announced</a>&nbsp;by Cardinal Kevin Farrell, the top administrator of the office of the Holy See, who said: “At 7:35 this morning, the Bishop of Rome, Francis, returned to the house of the Father.”



Francis, who was born Jorge Mario Bergoglio in the Argentinian capital Buenos Aires, was 88-years-old.



Over the past two months the pope had been in the hospital for several days due to severe health ailments including a bout of bilateral pneumonia and bronchitis.



After a 38-day hospital stay in February and March, the pope returned to his official residence and resumed some of his papal duties.



Francis made his last public appearance less than 24 hours before his death, as he greeted cheering crowds at St. Peter&#8217;s Square while seated in his popemobile on Easter Sunday.



<h2 class="wp-block-heading">What Has The Vatican Said About The Pope’s Death?</h2>



“He taught us to live the values of the Gospel with fidelity, courage, and universal love, especially in favor of the poorest and most marginalized,” Farrell said in his announcement mourning the Pope’s death.



<h2 class="wp-block-heading">How Have World Leaders Reacted To Francis’ Death?</h2>



Several world leaders have expressed their condolences over the Pope’s passing. Italian Prime Minister Giorgia Meloni&nbsp;<a href="https://x.com/GiorgiaMeloni/status/1914239044885569647" rel="noreferrer noopener" target="_blank">wrote</a>&nbsp;on X: “This is news that grieves us deeply, because he leaves us a great man and a great pastor. I was privileged to enjoy his friendship, advice and teachings, which never failed even in times of trial and suffering&#8230;His magisterium and legacy will not be lost.” French President Emmanuel Macron&nbsp;<a href="https://x.com/EmmanuelMacron/status/1914234073406488855" rel="noreferrer noopener" target="_blank">said</a>: “From Buenos Aires to Rome, Pope Francis wanted the Church to bring joy and hope to the poorest of the poor. To unite people with one another and with nature. May this hope be resurrected unceasingly beyond him.” Spanish Prime Minister Pedro Sanchez&nbsp;<a href="https://x.com/sanchezcastejon/status/1914235723026231483" rel="noreferrer noopener" target="_blank">tweeted</a>&nbsp;Francis’ “commitment to peace, social justice and the most vulnerable leaves a profound legacy.”



This is a developing story.

Pope Francis Leads Way Of The Cross On Rio’s Copacabana Beach

Pope Francis Has Died At 88, The Vatican Says

Senzo Mfundo Vilakazi is known as the ‘big brother’ in the country’s hip hop scene. He sat down with FORBES AFRICA to discuss his anticipated sixth studio album, which is set to be released in May, and reflects on his journey and growth as an artist.



With a career that began at 15 years old and one born in his birthplace, Katlehong–a Gauteng township located in the south-east of Johannesburg–Senzo Mfundo Vilakazi believes that his latest album, titled ‘The Big Bro Theory’, allowed him to reflect on his journey.



“I wanted to make an album that was positive more than anything,” Vilakazi, known professionally as Kwesta, tells FORBES AFRICA.



“For the space of Hip-hop, the culture [of Hip-hop] is very competitive and everyone wants to be ‘dope’. Everyone wants to be called ‘dope’; and I had a fear of what if one day we lose enjoying this culture and this genre because we don&#8217;t enjoy the music anymore, where we just want to hear what this person came up with and call ‘dope’. So, I wanted to go against that and not fight for a spot [anymore] because Hip-hop is big on that.”



Although there seems to be an amplification of African music on the continent (and abroad), specifically with regards to Amapiano and Afrobeats, Hip-hop still plays an important role in the music scene in Africa.



In 2023, when the reported 50th anniversary of hip-hop was celebrated, enthusiasts said, as per a CNN report, that although the birthplace of the genre is New York City in the U.S., “many believe the artistic foundation of the genre can be traced back to Africa”.



“Rap is fundamentally based on vocal styling, based on call-and-response, which is the foundation of all Black music,” Obi Asika, a Nigerian entrepreneur and record executive told CNN in 2023. “Music is embedded in the form and function of African society from day one because it is also tied to the metronome of our hearts.”



Vilakazi says that the African sound boom, particularly for Afrobeats and Amapiano, was long overdue and amazing to witness, especially as he sees more African representation on the global stage.



“And the question is, ‘how do I fit in?’ I don’t know; I think that’s for the people who watch and study culture and music and things like that. I’m a Hip-hop guy. I came up through Hip-hop. [It] was the music of choice for me, possibly because I’m a terrible singer, but generally, I’ve always ‘messed’ with Hip-hop, and I will always choose that. But in the end, it’s all the same people representing the same place.



“The Amapiano artist grew up just down the road from you and the Hip-hop artist maybe grew up just up the road. I’m just happy that there’s attention to African artists and African music… these are my neighbors.”



As the ‘grootman’ (big brother) in the industry, Vilakazi says he sees his role now, both musically and culturally, to remind artists, at the core, to care just about the music and not to “weaponize our music” but rather enjoy the craft.



“It’s a great weapon when used for unselfish reasons, it works perfectly, and it’s dope to spread a message,” he adds. “But I think when you use music as a weapon selfishly, then it’s not music.”

Category: Current Affairs