For Lesotho, every inch on the football pitch has been gained the hard way. Mokhosi Mohapi is overseeing a revolution, from the National teams to improvements in the domestic league, academy and women’s football, all on a relative shoestring budget.



Lesotho is typical of several football nations in Africa that are forever having to punch above their weight, trying to create the ‘small wins’ that will lead to greater success in an industry where money talks.



Lesotho has a population of about 2.3 million. Compared to the bigger economies Nigeria, Egypt or neighbor South Africa, that would barely make up a smaller municipality.



And yet they play in the same international football competitions and strive for the same success as the giants on the continent, with far less resources, both in terms of players to pick from and finances.  



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="682" src="https://cms.forbesafrica.com/wp-content/uploads/2025/04/Mokhosi-Mohapi-image-supplied-by-COSAFA-1024x682.jpg" alt="" class="wp-image-65345" srcset="https://cms.forbesafrica.com/wp-content/uploads/2025/04/Mokhosi-Mohapi-image-supplied-by-COSAFA-1024x682.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2025/04/Mokhosi-Mohapi-image-supplied-by-COSAFA-300x200.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2025/04/Mokhosi-Mohapi-image-supplied-by-COSAFA-768x511.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2025/04/Mokhosi-Mohapi-image-supplied-by-COSAFA-1536x1022.jpg 1536w, https://cms.forbesafrica.com/wp-content/uploads/2025/04/Mokhosi-Mohapi-image-supplied-by-COSAFA-2048x1363.jpg 2048w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Mokhosi Mohapi (©Nokwanda Zondi/BackpagePix)</figcaption></figure>



They also do not have the large diaspora of fellow minnows Comoros or Cape Verde Islands from which to pick players who grew up in France or Portugal, so every inch gained on the football pitch is done the hard way.



But they have had success. A 1-1 draw away in Nigeria in the current 2026 FIFA World Cup qualifiers was a seismic result that shocked the continent’s football.



They also managed a 2-0 win over regional powerhouse Zimbabwe in the same qualification campaign and finished runners-up in the 2023 COSAFA Cup, the southern African championship.



Leading this improvement is no-nonsense Lesotho Football Association (LFA) Secretary General Mokhosi Mohapi, who has the unenviable task of taking what resources he has and turning it into gold.



He is overseeing a revolution though, from the national teams to improvements in the domestic league, academy development and women’s football growth, all on a relative shoestring budget.



“We need to get better coaches, players placed in bigger leagues, a better domestic league and better development structures,” Mohapi tells FORBES AFRICA. “It is not that we have nothing, but we need to improve them all dramatically. We need to follow a set vision that places us right into what will be happening (in global football) in the next decade.&#8221;



One area he is targeting is sports science, which has come in vogue across Europe and many of the larger African countries.



“We are just playing football, we are not researching deeper into it,” he says. “I don&#8217;t understand how we are competing without using data and sport science, but we are doing well. Imagine how we will do when we start moving into that sphere like others are doing?



“Others [already using sports science] cannot get better than they are now, but we can. Much better.”



But the continued improvement of Lesotho football can only truly happen with more structured development and talent identification, and Mohapi reveals the country has opened a first academy using its own funds, a rarity on the continent.



“We have a residency academy in the Northern Districts and it is doing very well. They play in the fourth-tier and they haven’t lost a match. Remember, these are 12- or 13-year-olds. We put them there so they can train for a purpose [to play matches].



“While many countries are waiting for FIFA funding to start their academies, we decided to go on our own, otherwise it will still be stagnating like everyone else. So we thought, ‘let’s start it and see where we find ourselves’. 



“I am sure that among the football associations of our size (in Africa), we are the first to start an academy without waiting for FIFA to come and bring resources.”



Many associations around Africa are propped up by government funds, but Mohapi says the LFA have long learned to stand on its own two feet.



“It&#8217;s clear government won&#8217;t help us, the economy is a bit weak in the country,” he says. “It won&#8217;t be able to sustain our dreams, so we have to do it from whatever we have as resources. On that basis, we have to learn how to work within our means, but also dream big,” he says.

Football – 2024 Hollywoodbets COSAFA Mens Championship – Lesotho v Seychelles – Nelson Mandela Bay Stadium – Gqeberha

Small Country, Big Goals: Landlocked Lesotho’s World Cup Dreams

A politician muddles policy details, a CEO fumbles the figures, and an athlete sparks outrage with a poorly-chosen remark.



Unfortunate gaffes, you say? Not so fast.



While many blunders appear accidental, there is a growing trend of so-called “gaffes” being deliberate stunts dressed up as mistakes.



The art of the gaffe has never been more deliberate.



What was once an accidental blunder followed by sheepish apologies and frantic damage control has evolved into a finely-tuned strategy.



The intentional gaffe–a calculated misstep–has emerged as a powerful tool for attention-seekers, agenda-pushers, and image-shapers alike.



Gaffes have transformed from missteps to maneuvers and from blunders to branding opportunities.



A slip of the tongue, once a career-crushing catastrophe, now serves as bait to hook headlines.



A botched phrase or a bungled promise can generate the kind of attention that no carefully-crafted statement ever could.



On the political stage, where the stakes are high, every word is scrutinized and a single gaffe–whether genuine or calculated–can steal the show.



Some politicians wield intentional gaffes to distract critics, redirect public attention, and ignite debate.



An awkward joke about policy might seem like a moment of carelessness, though in reality, it is often a masterclass in misdirection.



Consider the so-called “slip of the tongue” during a live debate, where a politician casually floats a controversial idea.



While the public and media argue over the statement’s implications, the real intent–to test the waters or deflect focus from another issue–often goes unnoticed.



Yet politicians are far from the only ones who capitalize on this tactic.



CEOs and senior leaders strategically stumble to steer discussions or divert scrutiny.



A clumsy comment or poorly-phrased projection can shift focus, diverting attention from weak results or uncomfortable questions.



Celebrities and athletes, too, embrace the art of the intentional blunder to stay in the spotlight and bolster their personal brands.



A tone-deaf remark or ill-timed tweet might spark outrage, though it also ensures their name trends, keeping them relevant in an overcrowded media landscape.



Social media influencers have perfected this approach, crafting clumsy posts or controversial opinions designed to drive engagement and boost visibility.



Public relations teams, in turn, use these “mistakes” to manage discussions during crises.



Whether it is a poorly planned marketing campaign or an “accidental” leak, the resulting uproar can shift focus away from deeper issues or generate free publicity.



The genius of the intentional gaffe lies in its capacity for a graceful recovery.



A quick apology or a well-placed clarification can turn the tide to paint the gaffe-maker as humble, relatable or even courageous for owning up to their “error”.



Distinguishing an intentional gaffe from a genuine mistake requires more than a casual glance.



While both might look similar on the surface, subtle signs separate a calculated misstep from an unplanned blunder.



Timing, for instance, is a crucial clue.



An unintentional mistake often happens in an unguarded moment–a slip during an intense debate or an offhand comment in a casual interview.



Intentional gaffes, however, tend to occur when the stakes are high and the spotlight is firmly fixed.



Another telltale sign lies in the response.



A genuine mistake usually triggers an immediate and often awkward attempt at damage control.



Apologies can be hurried, explanations panicked, and the individual might struggle to regain composure.



In contrast, an intentional gaffe is met with a measured and almost rehearsed reaction.



Context also matters.



Genuine mistakes often occur in moments of pressure or fatigue, when the speaker is off-script or underprepared.



Intentional gaffes, on the other hand, are often embedded within broader storylines.



They are positioned to steer conversations, spark debate or test public sentiment.



When a misstep conveniently aligns with an underlying agenda or shifts focus from a larger issue, it is worth questioning whether the error was intentional.



Finally, the outcomes can reveal intent.



Unintentional mistakes often create chaos, confusion, backlash or a dip in credibility.



Intentional gaffes, however, frequently deliver benefits.



They might dominate headlines, spark widespread discussion or bolster the individual’s visibility.



Recognizing these patterns requires a discerning eye and a healthy dose of scepticism.



As the art of the gaffe becomes more sophisticated, so too must our ability to separate the accidental from the intentional.



Just remember: while not every slip is strategic, many are far too polished to be pure mistakes.

She’s got big plans to run the city

Expert-Speak: How Gaffes Have Graduated From Accidents To Agendas, Almost Making It An Art Form

The human body is comprised of approximately 37.2 trillion cells, and these cells are responsible for processing an astounding number of biological functions. Each of them contains DNA that governs not only basic functions but also responds to what you like, and what you don’t. They are essentially supercomputers, constantly evolving, driving changes in human longevity and wellbeing. Now, AI is accelerating this evolution, but its unequal access and high cost are contributing to a growing disparity, especially in regions like Africa.



The commoditization of ageing isn’t new. From basic access to resources thousands of years ago to the ability to use nanobots to fundamentally change the structure of your DNA today, access to the tools and services that slow ageing and improve health has always been tied to wealth. A fact that has never been more prevalent than today, with wellness clubs that cost upwards of $10,000 a month for hyper-personalized services powered by data and AI. Imagine leveraging data and AI to create a digital twin of yourself to predict how your body will perform under different conditions, enabling you to optimize your health, reverse aging, and push your physical limits.



“There are two arms to this discussion,” says Per Ostberg, Futurist and Foresight Practitioner, to FORBES AFRICA. 



“At the moment, biohacking is more about people experimenting with their health in a less scientific way, while body hacking is where you go in and start enhancing bodily functions. This is the realm of gene editing and epigenetics.”



It is a realm that Dr Divya Chander has discussed at length, more recently at Singularity University in South Africa. She highlighted how the cost of genome sequencing has dramatically dropped from $100 million in 2002 to $1,000 today, and that this is potentially introducing an entirely new dynamic and possibilities in biological innovation, and in fighting off the effects of aging.



In healthcare, AI is in use for drug discovery and development, fundamentally speeding up analysis and insights and accelerating the discovery of drugs. But now that concept can be taken even deeper into the use of nanobots to deliver drugs to distant parts of the body, revolutionizing treatment delivery.



Imagine how cancer treatments could be revolutionized if a nanobot could inject drugs directly into the tumors. This is already happening– research has shown that tumors have a lower pH than healthy tissues so nanobots can be programmed to become sensitive to PH and deliver drugs accurately. Then there’s the applications of these technologies in the war against age.



Imagine, says Ostberg, if it becomes possible to simply switch off the aging gene? “If we can control this switch, we’ve effectively solved the ageing problem. AI is allowing for the discovery of all the variables and mutations that could occur as we experiment with genetics and ageing. A digital twin can be used to see how your body will react to any changes made to your genetic structure so there’s no risk to your health.”



Of course, there’s the Frankenstein dilemma—what happens if tweaking one gene triggers unexpected changes elsewhere? However, on the other hand, AI, data, and digital twins could be used to personalize treatments, such as pain management and drug interactions based on an individual’s size, age, and weight. People are already embracing this vision: they want to be younger, faster, fitter. Age has come to be seen as a burden, and the pursuit of longevity remains one of humanity’s greatest priorities. “Humans have been around for 300,000 years and initially had an average life expectancy of 25 years, by the 1800s it was 40 years, and from 1880 to today, this has doubled,” Paul Pagnato, Co-Founder and Executive Chairman of Humanaut Health told attendants at Singularity University South Africa. “Today, the number of centenarians is around 40,000 people living quality lives, and over the next 20-30 years, this is expected to quadruple. And most people would be like to be one of those who live these long, healthy lives.”



A Danish study found that only about 20% of a person’s longevity is determined by genes, while the remaining is influenced by lifestyle and environment. This aligns with the principles of the Blue Zones approach to longevity which include: incorporating movement into daily life, reducing stress significantly, having a clear sense of purpose, maintaining a healthy diet, and fostering strong human connections.



These steps represent the surface level of control that human beings can exert over their lives to live longer, healthier lives. However, it’s important to recognize that not all countries and populations can benefit equally from these practices. While they may seem simple to achieve in wealthier nations, many countries with fragile economies lack the resources to even begin addressing these foundational aspects. Take Somalia, for example, which currently has one of the lowest life expectancies in the world. As a fragile state plagued by conflict, its people have limited access to healthcare and essential resources. Achieving peace, stable governance, and functional infrastructure are the first crucial steps Africa must take before it can fully explore advancements like biohacking.



As Alexandra Miszewski, Founder and Managing Director of Novita Biotechnology, tells FORBES AFRICA: “The impact is determined by accessibility and affordability, and this is particularly relevant in the African context as the continent is often left behind. This is also one of my biggest concerns – will Africa get left behind?” Miszewski points out that, unlike Moore’s Law, which suggests that as time passes technology gets faster, cheaper and more efficient, the opposite is true in the case of biotechnology.



“We have Eroom’s Law, which basically is Moore’s Law spelled backwards–drug discovery and biotech innovation are becoming more expensive over time and the impact this will have on humanity is astronomical. The average cost of getting a drug to market these days is one to two billion dollars, which means companies need to see a return on their investment.”



This, in turn, means investing in solutions that generate profit. However, there is the positive side of the AI story, which is that the technology has the potential to democratize longevity because it can reduce the costs of drug discovery and testing. It can also be used to manage the regulatory process and ensure drugs are rapidly designed, tested and approved, which will make them more cost-effective to produce while increasing the availability of life-saving treatments. 



For now, however, the art of longevity remains largely in the hands of the wealthy.



Biohacking has become an expensive pursuit, especially for those who want to go beyond simple tools like wearable devices and a good night’s sleep. This raises an important question: will aging become the new determinant of poverty?

Electronic medical

Reverse Aging: Hacking The Genetic Code For Longevity

<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

We no longer stand on the threshold of an AI-powered future—we already live in it. Artificial Intelligence (AI) now influences everything, from the ads we see and the routes we drive to the diagnoses we receive and the public policies we navigate.



As AI becomes more integrated into everyday life, the conversation must move beyond innovation and capability. We must ask a harder question: Can we trust it?



The answer begins with one often-overlooked word: testing.



AI systems are not like traditional software. They don’t simply follow pre-written instructions. Instead, they learn, adapt, and evolve by processing massive data. That’s what makes them powerful, but also unpredictable. Without proper oversight, they can make decisions that are biased, inaccurate, or even dangerous.



Today, rigorous algorithmic testing must become central to how we design, deploy, and govern AI. This is not just a technical necessity—it’s a moral and societal imperative.



Unlike traditional tools, AI systems are dynamic. They grow and adapt based on the data they’re fed. That adaptability comes at a cost: it’s hard to predict how these systems will behave, especially when used in new or high-stakes environments. As a result, we need to know if AI will reinforce or challenge existing societal biases. Also, can we explain how decisions are made by “black box” systems? Are these systems secured against manipulation or adversarial attacks?



Addressing these concerns requires a shift from basic functionality checks to multi-dimensional testing that evaluates how AI performs, under what conditions, and for whom.



Five pillars should guide this process:



<ul class="wp-block-list">
<li>Performance testing: AI should be stress-tested in extreme and adversarial conditions to identify vulnerabilities that could lead to failure in real-world scenarios.</li>



<li>Fairness and bias testing tools must be used to identify and mitigate bias across gender, race, class, and other social dimensions to prevent discriminatory outcomes.</li>



<li><a href="https://www.datacamp.com/tutorial/explainable-ai-understanding-and-trusting-machine-learning-models">Explainability</a> testing: People must understand how and why AI systems make decisions. This is essential for public trust and regulatory accountability.</li>



<li>Robustness testing: AI must work with <a href="https://link.springer.com/book/10.1007/978-3-030-01180-2">incomplete</a> or noisy data and adapt to shifting real-world conditions without compromising performance or safety.</li>



<li>Compliance testing, meaning AI must follow legal and ethical standards. Compliance should be built into the system, from data protection to fairness regulations, not retrofitted after deployment.</li>
</ul>



Nowhere is the need for rigorous AI testing more urgent—or more overlooked—than in Africa. The continent is increasingly embracing this technology to tackle development challenges: improving agricultural productivity, enhancing healthcare, broadening education access, strengthening financial inclusion, and improving governance. But if not properly tested, they may do more harm than good.



African datasets are often smaller, fragmented, and reflect deeply embedded inequalities. AI models trained on such data—or worse, on data from other regions—can easily produce biased or ineffective results. They might misinterpret dialects, ignore cultural nuance, or overlook contextual realities.



Without explainability and fairness checks, these systems could entrench existing discrimination into everything from credit decisions to public service delivery.



Moreover, the digital literacy landscape in Africa is diverse. Adoption will lag if people don’t understand how or why AI systems make decisions, and trust will erode. The continent needs context-aware and inclusive AI governance frameworks that support local expertise, prioritize fairness, and embed transparency and accountability.



International partnerships must avoid ‘data colonialism’ and instead elevate African voices, priorities, and innovations.



We often hear that AI is the future. But the truth is, the future is already here. And it’s time we took its risks as seriously as we do its rewards.



Algorithmic testing must become the foundation of trustworthy AI. It’s not just an engineering task—it’s an ethical safeguard. It ensures that intelligent systems serve society, not undermine it. It is how we earn the public’s trust, prevent harm, and ensure that AI technologies are reliable, fair, and aligned with human values.



For Africa, getting this right is not optional. It’s a chance to lead in AI adoption and show the world how to build technology that truly works for everyone.

AI (Artificial Intelligence) concept. Electronic circuit. Communication network.

The Indispensable Shield: Why Rigorous Testing Must Underpin The Age Of Artificial Intelligence

<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

Twenty-one countries around the world will host F1 RACES in 2025. The African continent is vying to be a part of it too in the near future-for the prestige and profits down the road.



The sound of roaring supercars is hardly unfamiliar in Africa’s emerging urban landscapes; yet, the distinctive rumble of Formula One (F1) engines has not been heard on the continent since 1993.



For context, Jurassic Park was the highest-grossing film that year, Bill Clinton had just assumed his seat in the Oval Office, and South Africa’s Rainbow Nation was not yet in technicolor.



At the 1993 South African Grand Prix, the 72-lap race at Johannesburg’s Kyalami race-track saw Alain Prost take pole position, beating Ayrton Senna. But as the finish line was crossed and typical Johannesburg thundershowers cascaded, it signaled what has now become more than three decades of Africa being the only inhabited continent without a Grand Prix on the calendar.



Twenty-one countries will host F1 races in 2025. Despite there being only 24 fixtures on the annual schedule, both South Africa and Rwanda are vying for a spot for 2027.



“You can’t call it a World Championship if you don’t have a race in Africa,” Motorsport South Africa CEO, Vic Maharaj, points out. “Besides Europe, I think Africa has more of a motorsport culture than just about any other continent on Earth,” claims veteran F1 broadcaster, Sasha Martinengo.



That passion for cars is evident everywhere—from high-performance vehicles to everyday taxis and bakkies (pickup trucks in South Africa) that drivers customize with pride.



Mandla Mdakane, who has been racing since age four and drives for the Toyota Gazoo Racing Team, has witnessed it firsthand.



“You can travel to places and see an old Toyota Cressida, decked out, paint looking lovely. People tuning their exhaust pipes, their rims. We just are car lovers as a nation.”



Seven-time F1 world champion, Lewis Hamilton, has told the Fédération Internationale de l’Automobile (FIA) that it cannot continue adding other locations to the F1 calendar while “ignoring Africa” and has been vocal about his desire to race in Mzanzi before putting the brakes on his career—a dream that incumbent Sports Minister, Gayton McKenzie, has vowed to fulfill.



“The chance of hosting a Formula One Grand Prix in 2027 is the most promising that we’ve had in 20 years,” Martinen- go believes.



It is a sentiment shared by Maharaj, who is a member of the governmental bid’s appropriately-titled Steering Committee. “We were at the altar twice and never got married. This time, we’ve got the rings, the dress, and everything we need”.



The wedding metaphor seems fitting, as any couple who has embarked on the costly excursion would know.



“There’s a commercial rights fee, probably in the region of around $30 million to $40 million per year,” Maharaj explains. “That’s before you’ve even started to put the event on.” Beyond that, there’s the cost of infrastructure, logistics, and operational expenses. The head of Motorsport SA puts it bluntly: “It’s like hosting the Olympics every two weeks.”



In a country riddled with potholed roads, critics argue that these funds could be better spent on infrastructure, electricity, and public services. But others, like Martinengo, feel the returns justify the investment when considering the magnitude of tourism it will generate.



“The amount of wealth and prestige that hosting a Grand Prix brings is astounding. People will come to South Africa, watch the Grand Prix in Johannesburg, then probably head to the Kruger Park or hop on a plane to spend a week in Cape Town. If we do a five-year deal, for example, by the time we do our third Grand Prix, everyone is turning a profit.”



South African political economy analyst, Daniel Silke, believes there is some legitimacy to that, but maintains that transparency is key: “I don’t think we should necessarily ig- nore the concept of a Formula One on the basis that the coun- try’s economy is struggling… that said, I wouldn’t want to see a cost-benefit assessment done by politicians. I would like to see an independently audited cost-benefit analysis.”



What was once considered South Africa’s race to lose has become a fascinating continental competition with Rwan- da. President Paul Kagame, an avid petrolhead, has actively pushed for motorsport in the East African country, even host- ing the 2024 FIA awards ceremony in Kigali last December.



South Africa’s Kyalami track has undergone extensive upgrades and is working towards meeting F1’s strict Grade 1 requirements. “Kyalami is a European-spec track now. It’s undu- lating, technical, and thrilling. Every lap there is amazing,” says Mdakane.



“If Europe and the U.S. can have multiple Grands Prix, why can’t Af- rica?” Maharaj challenges.



Although the financial obstacles cannot be dismissed, Silke can spot glimpses of the checkered flag&#8230;



“It would, I think, be beneficial for Africa as a whole. An event of the global magnitude of a Formula One Grand Prix tends to put a country on the map. Even though South Africa is certainly at a low ebb economically with low growth, an event like this, much like the World Cup, does again provide that lift for a country.”



And while here, why not showcase some of Africa’s deep- rooted—if unconventional—driving culture?



“If you want a real motorsport event in South Africa, I say let’s have a HiAce taxi race,” quips Martinengo. “Now that would be something to watch!” Motorsport encapsulates the spirit of fighting for every inch, overcoming obstacles, and never giving up—charac- teristics that resonate profoundly in Africa. The continent is ready to get behind the wheel. Now, it’s up to F1 to decide if they are too.

F1 Grand Prix of Saudi Arabia

Africa’s Return To Formula One: What Lies Ahead

<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

The township economy in South Africa contributes almost 6% to the country’s GDP. At the epicenter of this growth are the innovation hubs, breaking the barriers for aspiring entrepreneurs and creating a new wave of economic transformation in historically underserved communities.



Located just 30km north of South Africa’s administrative capital Pretoria is Soshanguve, a township known for its vibrant Bacardi dance scene and Se Pitori (Pretorian Sotho) language. This township, nestled east of Mabopane, is also home to entrepreneur, Mapula Ramothwala, the founder of Kool Crew, a manufacturing company that produces personal hygiene products for young people, aged six to 18, to boost their self-confidence.



“I didn’t grow up wanting to be an entrepreneur,” Ramothwala shares with FORBES AFRICA. With a background in agriculture, she had hoped to work in her farm. With a BTech degree in Animal Science, she also figured she would work in government, at institutes such as the Department of Agriculture, Labour or Rural Development. But that didn’t happen, and she instead, developed an interest in entrepreneurship.


<div class="wp-block-image">
<figure class="alignleft size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="987" src="https://cms.forbesafrica.com/wp-content/uploads/2025/04/Mapula-Ramothwala-Founder-Kool-Crew1-1024x987.jpeg" alt="" class="wp-image-65296" style="width:415px;height:auto" srcset="https://cms.forbesafrica.com/wp-content/uploads/2025/04/Mapula-Ramothwala-Founder-Kool-Crew1-1024x987.jpeg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2025/04/Mapula-Ramothwala-Founder-Kool-Crew1-300x289.jpeg 300w, https://cms.forbesafrica.com/wp-content/uploads/2025/04/Mapula-Ramothwala-Founder-Kool-Crew1-768x740.jpeg 768w, https://cms.forbesafrica.com/wp-content/uploads/2025/04/Mapula-Ramothwala-Founder-Kool-Crew1.jpeg 1280w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Mapula Ramothwala, Founder Kool Crew</figcaption></figure></div>


About 140m from Soshanguve lies Orange Farm, one of South Africa&#8217;s youngest townships. According to the City of Johannesburg, it is today the country’s biggest and most populous informal settlement. It is here that Gontse Selaocoe founded and built his business, All Day Jam, specializing in organic jam spreads.



“Township economies have vast potential for growth and development,” Selaocoe says. “But businesses in townships often face unique challenges, such as limited access to funding, markets, and resources.”



Despite being over an hour apart, both Ramothwala and Selaocoe share a common thread: they both turned to The Innovation Hub’s eKasiLabs to help build their businesses.



Ramothwala first heard of The Innovation Hub when she was chosen to be part of a competition they were hosting. “I applied, pitched my business, and got selected. That’s how I joined the Cap Accelerator Program [Cosmetic Accelerator Program]. From there, I became one of the clients of The Innovation Hub. The support I received included mentorship as well as access to markets, marketing, and funding to help expand our businesses.”



She explains the rationale behind her company, Kool Crew: “Many kids today experience body odor at a very early age. Research has shown that most parents feel helpless because there aren’t many products specifically formulated for that age group, particularly children between six and eight years old.



“Active kids, especially those in sports, are more prone to sweating and need to follow a proper hygiene routine. That’s the problem Kool Crew aims to solve.”



Launched in 2019, the business was conceived with a deep understanding of local needs. “We started in our township because we identified a gap in our community and understood the need for such products.”



Selaocoe’s All Day Jam, founded the same year, focuses on agro-processing, offering organic jam spreads with a commitment to sustainability, food security, and job creation in his community.



“We were inspired to launch in the township because we saw an opportunity to transform a former dumping site into a thriving organic farm, providing healthy produce to our community and creating employment,” he says.&nbsp;



Both entrepreneurs embody a wave of township entrepreneurs who, despite the challenges they face, are dedicated to revitalizing their local economies. However, many like them also need support to scale their businesses. This is where centers like The Innovation Hub play a crucial role.


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="768" src="https://cms.forbesafrica.com/wp-content/uploads/2025/04/Gontse-Selaocoe-and-team-Founder-all-Day-Jam1-1024x768.jpeg" alt="" class="wp-image-65298" style="width:559px;height:auto" srcset="https://cms.forbesafrica.com/wp-content/uploads/2025/04/Gontse-Selaocoe-and-team-Founder-all-Day-Jam1-1024x768.jpeg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2025/04/Gontse-Selaocoe-and-team-Founder-all-Day-Jam1-300x225.jpeg 300w, https://cms.forbesafrica.com/wp-content/uploads/2025/04/Gontse-Selaocoe-and-team-Founder-all-Day-Jam1-768x576.jpeg 768w, https://cms.forbesafrica.com/wp-content/uploads/2025/04/Gontse-Selaocoe-and-team-Founder-all-Day-Jam1-1536x1152.jpeg 1536w, https://cms.forbesafrica.com/wp-content/uploads/2025/04/Gontse-Selaocoe-and-team-Founder-all-Day-Jam1-2048x1536.jpeg 2048w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Gontse Selaocoe and team Founder All Day Jam</figcaption></figure></div>


James Segooa, Acting Executive Manager for Township Economic Revitalization at The Innovation Hub, specializes in the development of small, medium and micro enterprises (SMME) and the innovation ecosystem in both the public and private sectors.&nbsp;



“I am passionate about SMME development and believe they can [be] or are the drivers of economic growth and the employment creators this country needs,” Segooa says. “From our observations and interactions with township entrepreneurs, the biggest challenge we’ve identified is a lack of business skills. This affects everything they do. We’re seeing many entrepreneurs who have never had the opportunity to be part of any entrepreneurship development program.”



According to an opinion piece by Luvuyo Mncanca on the University of Cape Town’s website, township businesses face similar challenges to those of South African SMMEs: lack of management skills, difficulties accessing finance and credit, limited market access, low government support, and lack of appropriate technology.



“The township economy’s contribution to the country’s GDP is extremely high,” says Bulelani Balabala, founder of the Township Entrepreneurs Alliance (TEA). “But the challenge then is that the mainstream or&nbsp; formal markets still consider it as informal, as mass market.”&nbsp;



A report by Lesaka Technologies emphasizes how the informal market is fueling growth, noting that the township economy is valued at approximately R900 billion (about $49.4 billion).



At the heart of the township economy is its people–engaged in buying, selling, producing, consuming, and creating, within the township and beyond it.



GG Alcock, author of KasiNomics, told FORBES AFRICA last year that the contributions of the township economies could be a lot more–with the right numbers stymied by a lack of data. He estimated that over R45 billion ($2.4 billion) comes from spaza shop rentals and the backyard rental market alone.



Despite these challenges, the South African government is taking steps to empower small businesses.



“Micro, small, and medium enterprises and cooperatives together form a vital part of our economy with immense growth potential,” said South African President, Cyril Ramaphosa, in an address at the Presidential Micro, Small and Medium Enterprises and Cooperatives Awards in 2024. “Whether they are small businesses in townships or cooperatives in rural areas, whether they are well-established or just starting, these businesses are integral to the future of our economy.”



This is, perhaps, where incubators and accelerators such as The Innovation Hub comes in.&nbsp;



“We learned about The Innovation Hub through a local business network,” says Selaocoe, who went through the incubation process at the Sebokeng eKasiLab. “The hub provided us with valuable support, including business mentorship, training, and access to funding opportunities. Their incubation program helped us refine our business model, improve our operations, and scale our production.”



The hub forms part of the Gauteng Growth and Development Agency (GGDA) established by the provincial government to promote the economic development, innovation and competitiveness of South Africa’s Gauteng province.



“Our program offers business skills training at various centers,” Segooa explains. “We’re currently operational in 14 townships across Gauteng. I believe we’re one of the largest enterprise development programs within the township space, with 14 active centers.”



Segooa adds that aspiring entrepreneurs come to the hub with an idea or an already established product.&nbsp;



“They haven’t thought about pricing or a business model. We’re not even at the stage of talking about funding yet. In their minds, they know they need money, but they don’t know where to start to access it. And if you ask them, ‘do you need funding?’ they’ll say yes. But if you follow up with, ‘what do you need it for?’ that’s where the problem starts—because they haven’t thought that far ahead.”



Ramothwala adds that the biggest challenge for her was gaining market visibility and accessing the market.



“Through the mentorship we received, we gained valuable knowledge on how to build brand awareness. The mentors also advised us on compliance and how to properly run our business, which played a significant role in getting the business to where it is today.”



In February, in his State of the Nation address, President Ramaphosa stated that a transformation fund worth R20 billion ($1.09 billion) a year would be set up over the next five years to fund black-owned and small business enterprises.&nbsp;



“We are expanding our support for small and medium enterprises and for the informal economy, which sustains millions of jobs and livelihoods across our country,” he added.&nbsp;



While this funding is needed, Segooa emphasizes that skills need to be prioritized.&nbsp;



The Innovation Hub currently supports over 272 companies, with Segooa noting that in just 15 of the companies using the eKasi Lab program, 188 jobs have been created.



“I’ve witnessed real growth,” he says, laughing.



As a passionate advocate of township entrepreneurship, Balabala notes that innovation hubs play a critical role from multiple perspectives, thus reducing failure rates and accelerating business growth.



“For me, they become critical because entrepreneurship is solely predicated by the speed at which you fail. If you can learn fast and fail fast, then it means that you can position your business much quicker and iterate what your business model needs to be, and then go to market.”&nbsp;



“The township economy is indeed overlooked, and holds immense potential as a driver of social and economic development,” Ramothwala says.



“[What we are doing as township entrepreneurs] is building a foundation for inclusive growth, as in job creation. By investing in townships, the barriers of access to goods and services are lowered for residents, and we empower communities and give them incredible motivation tailored specifically for their community needs.”



She adds: “When an entrepreneur starts to realize that there is a gap and a need in the community, we also become an inspiration to many.”



“Be open to learning and adapting, and don’t be afraid to ask for help. Most importantly, believe in yourself and your business, and stay committed to your vision,” Selaocoe concludes.&nbsp;

Ekasi Lab3

South Africa’s Townships As The Cool New Hubs Of Innovation

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

If you don’t hold the trump cards in life, you end up with a mushy future. A future you have no control over. A despicable way of living.



The world is agog with all the terrible things people are saying and doing.



Old loyalties are torn apart, protectionism is exacerbated, and truth has become a matter of opinion.



But one thing holds true as it always has. God helps those who help themselves.



The meek are unlikely to inherit the Earth.



When great powers become one, usually through conquest, exploitation and outright larceny; they offer the lesser ones a motley diet of olive branches, a rule book and a promise to help in exchange of good behavior.



This is a quote often attributed to Jomo Kenyatta, the first President of Kenya: “When the missionaries came to Africa, they had the Bible, and we had the land. They said, ‘let us pray’. We closed our eyes. When we opened them, we had the Bible, and they had the land.”



And we the masses, the mere mortals, fall for it, hook, line and sinker; into believing that the ones who used us so easily will actually be our savior too. If we behave that is.



That is the reality that is being dismantled today.



But change happens out of destruction. Powers shift when hubris sets in. Opportunities open up when schisms occur.



My adopted continent has to therefore understand this. As a wakeup call. As a door that is opening.



If recent world leadership has taught us anything, it is that ‘it’s okay to think for oneself first’. It’s perfectly fine to ‘lie than take things lying down’. And of course, it’s all right to practise ‘might is right’.



African political leadership, mired as they are with the Bretton Woods strait-jacket and forward-sold to the Chinese, believe they have limited options.



But I see a silver lining. Because it’s par for the course to renege on agreements. It’s common to make new friends. It’s acceptable to be tough, hard and unfair, to make Africa Great Again.



And yes, we have some aces too.



Allow me to repeat the seven wonders the continent has–and the world covets.



Resources: for batteries, et al. Africa possesses 30% of the world&#8217;s known mineral reserves, 60% of manganese, 70% of cobalt, and 70% of iridium.



Renewables: to green the world? Africa has an almost unlimited potential of solar capacity (10 TW), abundant hydro (350 GW), wind (110 GW), and geothermal energy sources (15 GW).



Markets: for companies eager to grow. Africa has the world&#8217;s fastest-growing consumer markets and is projected to boast 1.7 billion consumers by 2030.



Politics: need African votes for legitimacy? Africa is 28% of all United Nations members.



Food security: to feed the world. Africa has 60% of the world&#8217;s uncultivated arable land. Farming will be a trillion-dollar industry.



Green house: to absorb the world’s emissions. Africa’s forest resources comprise 650 million hectares, about 17% of the world total carbon sinks.



Immigration and militancy: as youth find few opportunities, they will migrate.



Africa’s population is estimated to almost double in the next decade while its GDP per capita is estimated to only grow by around one-third.



If ‘we the people’ don’t understand the above and realize the bargaining chips we have; then we will keep buying Musk perfume from Europe and never smell the coffee which is ours.



One makes one’s own destiny.



For too long, leadership in Africa has been conditioned to believe it needs alms to survive and accolades to feel good.



Yet, we have strong local businesses, banks and development institutions.



And our reserves (parked in the G7) and our pension savings exceed our total external debt, which in aggregate is around $1.2 trillion. And it’s only a quarter of our GDP.



Yet we suffer from a debt burden because of usurious interest costs while earning peanuts on our reserves. How is that clever and tenable?



Everything comes to us that belongs to us if we create the capacity to receive it, so said renowned Indian poet Rabindranath Tagore.



We have been seeds for too long. Buried and alive. Time to come out and build our own shadows. For us to be protected by ourselves.



It is believed that Ernest Hemingway said: “I never knew of a morning in Africa when I woke up that I was not happy.”



Now let’s make our own children and their children happy. Not some outsiders waxing lyrical about their ill-gotten paradise.



The gauntlet has been thrown. Let’s pick it up and run for ‘ourselves’!

African American farmer checking dirt in field

Expert-Speak: ‘Everything Comes To Us That Belongs To Us If We Create The Capacity To Receive It’

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

In these uncertain times, Geoffrey Qhena, the chairman of EXXARO, one of South Africa’s largest black- empowered and diversified mining companies, speaks about how Africa’s biggest economy must focus on strengthening its markets and redoubling efforts to expand trade ties.



Talking business with one of South Africa’s most formidable corporate titans, the conversation pivots to how challenges can be turned to opportunities for the country’s good.



Exxaro Chairman Geoffrey Qhena says South Africa–the country in Africa singled out by United States (U.S.) President Donald Trump for sanctions and tariffs–must use the unwanted spotlight to expand its trade partnerships beyond traditional friends.



While President Trump’s tariffs made for an unpredictable business environment, Qhena argues it also gives Africa’s biggest economy a chance to diversify its markets, with a particular focus on Africa, home to some of the fastest-growing economies in the world.



“It&#8217;s a bit tricky because the environment has changed so much. But it also creates opportunities,’’ Qhena says, in an interview with CNBC Africa. “So, for me, it&#8217;s to say, let&#8217;s use this to reflect on which other markets we can look at. Let&#8217;s diversify if we haven&#8217;t and if we have, how do we strengthen those? It&#8217;s an opportunity for us.’’



In one of his first acts back in office, President Trump falsely claimed the country’s Afrikaans-speaking farmers were being persecuted by the South African government. The crisis escalated in mid-March when his government expelled the South African Ambassador to the U.S. in Washington, Ebrahim Rasool for criticizing his administration.



The tension with one of the country’s biggest trading partners and sources of investment should spur the government to redouble efforts to expand trade ties with Africa using the African Continental Free Trade Area (AfCFTA) agreement, according to Qhena, who also chairs Johannesburg Stock Exchange-listed telecommunications operator Telkom and sits on several boards including Investec SA, one of the country’s biggest banks.



‘’It&#8217;s a no-brainer,’’ Qhena says, when asked about the opportunity presented by the four-year-old AfCFTA. ‘’Have we taken enough advantage of it? Truth be told, we haven&#8217;t. I know it&#8217;s not easy. It&#8217;s complex. (But)…there are some low-hanging fruits and I know we can do more before we look outside the rest of the continent.’’



The African Union formally launched the AfCFTA in January 2021, the youngest and largest trading bloc in the world seeking to create a common market with a combined gross domestic product of $3.4 trillion that’s projected to grow to $16.5 trillion by 2035, according to the World Bank.



South Africa has also upped its partnership with the European Union, with President Cyril Ramaphosa hosting the European Commission President Ursula von der Leyen and European Council President António Costa at the 8th South Africa-European Union Summit in March at which some €4.7 billion ($5.1 billion) in investments was pledged.



Qhena has praise for South Africa’s Department of Trade, Industry and Competition under new minister Parks Tau who he says understands the impact of policy decisions on the economy. Before the formation of South Africa’s government of national unity last June, many in the private sector had complained that some of the African National Congress’s foreign policies were harming the country’s business interests.



One of President Trump’s reasons for reevaluating aid to South Africa was that the country was hostile to U.S. interests and was befriending its adversaries including China and Russia. The U.S. is also unhappy with South Africa’s prosecution of its ally Israel at the International Court of Justice in the Hague. South Africa denies the charges, maintaining its foreign policy is anchored on non-alignment.



On the domestic front, Qhena says the government’s structural reforms and collaboration with the private sector were bearing fruit. Under President Ramaphosa’s Operation Vulindlela, the government has driven policy reforms that have helped the country eliminate power shortages that crippled growth in the past two years, and is now tackling transport bottlenecks preventing the country’s mines and other exporters from exporting optimally.



The collaboration should continue but specific timelines and targets must be agreed to ensure this delivers the desired results, Qhena says. While government bureaucracy may slow implementation, the private sector complements that through faster decision-making, he adds.



He said while some guardrails were needed to ensure there was no overreach from each side, this shouldn’t be to the detriment of delivering faster implementation of the agreed projects. Analysts say South Africa has a lot of good plans but often falls short on implementation. &nbsp;



“There is a lot of good talk and there is a lot of good plans but we need implementation,’’ Qhena says. “But there are good signs and there are good improvements.’’



South Africa’s economy is projected to grow by 1.8% this year, more than double last year’s 0.6% on the back of stable power supplies and lower interest rates after the Central Bank began a cutting cycle that’s expected to continue in 2025. China’s efforts to re-boot growth are also seen as positive for South Africa and other commodity-producing countries.



But growth remains below the unity government’s target of 3% in the medium-term, hamstrung by slow progress in fixing the country’s transport sector where utility Transnet remains short of funds, and a fledgling public/private sector partnership model that remains untested.



“We know government has to run government but we need each other,’’ Qhena says. “At the end of the day, we are all South Africans. If we work together smartly, we all win. But it has to be a smart partnership.’’

Tag: News Letter

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