NEIL DU PREEZ left his job overseas to return home to South Africa and offer low-maintenance urban mobility solutions now transforming the country’s transportation landscape.



In East Africa, the use of electric motorcycles has gained momentum and they are ubiqui- tous like never before.



Comparatively, the adoption of electric vehicles (EVs) has been slow in South Africa. While popular brands like Volvo and Toyota have seen some uptake, the transportation and delivery sectors are lagging behind in the transition to electric options.



Setting the stage to fast-track this shift is Stellenbosch- based Neil du Preez. With a background in commodities trading and chemistry, his journey started in 2012 when he gave up his overseas job to return to South Africa and manufacture light EVs to change the course of the trans- port sector.



“I wanted to create a sustainable, cost-effective urban mobility solution tailored for last-mile deliveries,” du Preez tells FORBES AFRICA.



“The goal was to offer an efficient alternative to motorcycles and traditional delivery vans. Initially, we designed passenger vehicles&#8230; called MellowCabs.”


<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/WhatsApp-Image-2024-12-12-at-13.27.04_0bdf3897-2-1024x768.jpg" alt="" class="wp-image-65264" style="width:498px;height:auto" srcset="https://cms.forbesafrica.com/wp-content/uploads/2025/04/WhatsApp-Image-2024-12-12-at-13.27.04_0bdf3897-2-1024x768.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2025/04/WhatsApp-Image-2024-12-12-at-13.27.04_0bdf3897-2-300x225.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2025/04/WhatsApp-Image-2024-12-12-at-13.27.04_0bdf3897-2-768x576.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2025/04/WhatsApp-Image-2024-12-12-at-13.27.04_0bdf3897-2.jpg 1280w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /></figure></div>


South Africa’s population is heavily reliant on public transport and the country boasts a thriving minibus-taxi industry. Statista estimates that taxis contribute around R40 billion ($2.16 billion) to the gross domestic product (GDP) annually. The industry reportedly transports approximately 15 million people daily.



Du Preez was at the right place at the right time.



In 2019, logistics company DHL wanted to use his MellowCabs for deliveries but only if they were converted into delivery vans. Du Preez saw more potential in parcel deliveries and cargo transport, so seized the opportunity, and pivoted to MellowVans. 



He says the company became the first South African automotive Original Equipment Manufacturer (OEM) to achieve European and British homologation. Last year, the EV company partnered with Ite-mate Solutions to launch a new mobile store solution to serve African telecommunications firms. Du Preez says the low-maintenance vehicles are developed specifically for Africa’s tough landscape.



“[The MellowVans] have become a common sight in South Af- rica’s urban centers where brands take advantage of their low operating cost, easy maintenance, and extensive technology and data to enhance their last-mile delivery,” he adds.



Du Preez is proud of the partnerships with corporates like e- commerce company Takealot, and retail giant Spar. The company has now expanded to other African countries, launched in Europe, and set up a new production facility in South Africa.



“We’re also finalizing plans for an assembly hub in Europe,” he says. His vehicles offer the lowest cost per kilometer of any last-mile solution, he adds. “Our vehicles have a range of 130km per charge, which at current Eskom (South Africa’s national electricity provider) rates, translates to 15c-per-km cost. In addition, our technology platform provides real-time insights into vehicle performance, driver behavior, and other metrics, allowing operators greater control and visibility over their fleet.”



However, this has not come without its challenges, especially as South Africa’s adoption of EVs still shows that there is room for improvement.



Du Preez opines that acceleration of the sector has been hin- dered by the absence of comprehensive regulations and incentives for electric two-wheelers.



“Governments can offer incentives and charging infrastructure, while private players can innovate on financing models and fleet adoption,” du Preez suggests.



However, there are encouraging signs. In February 2024, South Africa’s Finance Minister Enoch Godongwana highlighted the government’s commitment by announcing a 150% tax deduction on qualifying EV and hydrogen vehicle production investments.



“To encourage production of EVs in South Africa, the govern- ment will introduce an investment allowance for new investments, beginning 1 March 2026,” Godongwana said. According to reports, this legislation is expected to unlock approximately $27 billion in new investments within the country’s EV sector.



It means entrepreneurs like du Preez are on the right track to growth. As the founder and CEO of MellowVans, some sound strategizing over the years has also earned him multiple accolades and prestigious national and international awards. 



“[My leadership strategies] that have helped scale MellowVans has been agility, strong partnerships, and a focus on solving real customer pain points rather than just pushing technology.” As the EV industry continues on its path to progress, and more entrepreneurs find themselves in the space, the advice that du Preez offers is simple: “Start lean, focus on solving specific problems, and build strong local partnerships to navigate regulatory and market challenges.”

high res foto (002) (3)

All The Right Moves: This Entrepreneur Is Fast-Tracking E-Mobility In South Africa

Former Swiss-South African Tennis player ROGER FEDERER is as passionate about education as he is about sport. He talks about his eponymous foundation and the milestones that have made his philanthropic work worthwhile on the continent.



Roger Federer began playing tennis at the age of three and went on to win 20 Grand Slam titles and 103 career Association of Tennis Professionals (ATP) titles throughout his career. What we probably don’t know is that through the Roger Federer Foundation that he launched in 2003, he is serving children so they have the best start in their educational journey. On a recent visit to South Africa, Federer, along with South African rugby captain, Siya Kolisi, relayed and emphasized the importance of access to quality early childhood education. We asked him:


<div class="wp-block-image">
<figure class="aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="683" src="https://cms.forbesafrica.com/wp-content/uploads/2025/04/ED_546166-1024x683.jpg" alt="" class="wp-image-65260" srcset="https://cms.forbesafrica.com/wp-content/uploads/2025/04/ED_546166-1024x683.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2025/04/ED_546166-300x200.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2025/04/ED_546166-768x512.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2025/04/ED_546166-1536x1024.jpg 1536w, https://cms.forbesafrica.com/wp-content/uploads/2025/04/ED_546166-2048x1365.jpg 2048w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption"> Roger Federer speaks to the audience at the press conference for the Roger Federer Foundation in Johannesburg, South Africa. (Photo by Gallo Images/Luba Lesolle)</figcaption></figure></div>


Q. How important would you say sport is as a catalyst for social change and why?



A. It all starts with early motor skills. From a young age, chil- dren need to develop their social and cognitive skills, which help them to communicate and learn. Movement also plays an important role here. Strong motor skills aren’t just important for physical development; movement also has a social aspect to it. The development of the brain and body are linked.



If a child’s early motor skills are well-developed, they are more likely to succeed in sports later on, but it’s more than that. The importance of motor skills development, and the impact on an individual as a whole, can’t be understated.



Q. What is the Roger Federer Foundation doing in terms of skills development for educators and support staf?



A. Working though our implementing partner organizations, we provide educators with tablets containing knowledge and tools that help them improve their teaching. These tools in- clude a course on play-based learning and resources on mo- bilizing parents to build playgrounds and be more involved in their children’s learning. Another app allows educators to track each child’s development using specially-designed ac- tivities. We also distribute sets of booklets that contain toy- making and learning activities that parents can use with their children. This allows parents to make an important contribu- tion to their child’s education at home.



In South Africa, we have started involving government officials at circuit and district levels, with the aim of getting them to digitally track important data at pre-primary schools. This includes data on attendance and enrolment as well as data that continuously tracks if children are reaching their mile- stones, also ensuring that support is provided right away to children who are falling behind.



Q. Has there been a defining or standout moment for you that you use as motivation to continue the work that you do?



A. Small things, like seeing children enjoying a newly-built playground that their community has built with our guid- ance, already inspire me to keep going. We also know that children who get a quality pre-primary education are more likely to succeed in school and less likely to repeat grades or drop out. Studies have shown that success in education has a vital impact on economic performance later on. The massive impact of quality early childhood education (ECD) on not just people, but communities and even countries, motivates me a great deal.



In terms of funding, the Global Partnership for Education (GPE) has matched millions in funding in Lesotho, Malawi and Zimbabwe, which was thrilling for us. Recently, Presi- dent [Cyril] Ramaphosa also emphasized that South Africa has prioritized ECD, stating that a strong foundation is vital for children’s later success. More and more, governments are beginning to put ECD on the agenda. It’s a very exciting time for my foundation and all the fantastic organizations that have been working tirelessly in this space for decades.



Q. As an accomplished athlete, how do you continuously cultivate a winning mentality not just in sport but in life?



A. From tennis, I learned early on that success isn’t just about talent; it’s about consistency, resilience, and always being open to learning. That same approach applies to life beyond the sport. I try to stay curious, embrace new challenges, and keep things in perspective. Surrounding yourself with great people who you can learn from and push you to improve is extremely important.

Roger Federer Visits Ethiopia

Advantage Africa: Roger Federer’s Deciding Points Serving Early Childhood Education On The Continent

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



Netflix had its best quarter ever, according to earnings results announced Thursday afternoon, setting the stakes for Netflix stock moving forward after it emerged as a perhaps surprising stock market safe haven during the recent&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/">slump</a>.



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



In its Q1 report released shortly after 4 p.m. EDT market close, Netflix reported its best-ever quarterly earnings per share and revenue numbers.



Netflix scored $6.61 EPS ($2.9 billion net income) and $10.54 billion last quarter, besting consensus analyst estimates calling for the entertainment titan to report $5.67 adjusted EPS ($2.5 billion net income) and $10.5 billion in sales, according to FactSet data.



The company said it expects $11 billion in sales and $7.03 EPS during the second quarter, topping top and bottom line forecasts of $10.9 billion and $6.25, respectively.



Shares of Netflix rose 1.2% to $973 on Thursday, surging another 3% in after-hours trading to nearly $1,000 per share.



<h2 class="wp-block-heading" id="h-netflix-stock-emerges-as-a-potential-recession-winner">Netflix Stock Emerges As A Potential Recession Winner</h2>



Netflix has emerged from the 2025 stock losses stronger, gaining 4% since April 2 and 9% year-to-date. That came as the S&amp;P 500 (down 6% since April 2, 10% year-to-date excluding dividends) and the Nasdaq (-7%, -15%) both pulled back as President Donald Trump’s trade war heightened recession concerns. Many analysts herald Netflix stock as a safe parking spot as economic slowdown fears swirl. “If a recession hits, we would expect Netflix subscribers to be sticky as Netflix is a stay-at-home cheap diversion, of the type that has held up well in past recessions,” Rosenblatt analyst Barton Crockett wrote in a Monday note to clients. “Amid recent market volatility, Netflix&#8217;s strong subscription model with critical entertainment (which historically has performed well in a recession) has made the stock a defensive choice for investors,” Bank of America analysts led by Jessica Reif Ehrlich concurred in a Tuesday note.



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



Netflix has far outperformed other members of the “FAANG” group, smashing returns this year from the other high-growth technology names: Facebook parent Meta (down 14% year-to-date excluding dividends), Amazon (-21%), Apple (-21%) and Google parent Alphabet (-19%). Netflix has also outperformed Disney (-23% year-to-date) and Max parent Warner Bros. Discovery (-23%), though audio streamer Spotify’s 29% gain this year tops Netflix’s.



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



Fellow FAANG constituents Alphabet and Amazon will join Netflix in reporting Q1 earnings next week. Both West Coast titans will deliver results next Thursday.

Video Streaming Platforms Stock Photos

Netflix Earnings: Record Profits And Sales Send Stock To Nearly $1,000

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



A bipartisan House panel released a report Wednesday accusing DeepSeek of posing a “profound threat” to U.S. national security, alleging the Chinese AI startup harvests user data on behalf of the Chinese government, as efforts to ban DeepSeek have escalated in recent months amid national security concerns.



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



A&nbsp;<a href="https://selectcommitteeontheccp.house.gov/media/reports/deepseek-unmasked-exposing-ccps-latest-tool-spying-stealing-and-subverting-us-export" rel="noreferrer noopener" target="_blank">report</a>&nbsp;from the House Select Committee on the Chinese Communist Party claims while DeepSeek “presents itself as just another AI chatbot,” the company “siphons” user data for the Chinese government and relies on stolen U.S. technology.



The House panel alleges DeepSeek founder Liang Wenfeng oversees the company in an “integrated ecosystem” with ties to a state-linked hardware distributor and the Chinese research institute Zhejiang Lab.



The panel’s&nbsp;<a href="https://selectcommitteeontheccp.house.gov/sites/evo-subsites/selectcommitteeontheccp.house.gov/files/evo-media-document/DeepSeek%20Final.pdf" rel="noreferrer noopener" target="_blank">report</a>&nbsp;cites testimony from OpenAI, which told the committee DeepSeek likely relied on “unlawful” techniques to train its AI models and alleged DeepSeek employees “circumvented guardrails” to accelerate development at lower costs, including using OpenAI’s model to help “transform training data.”



DeepSeek “covertly manipulates” search results to align with Chinese propaganda and relied on Nvidia chips that are restricted from export, the House panel claims, though Nvidia has denied this claim, telling&nbsp;<a href="https://www.cnbc.com/2025/01/27/nvidia-calls-chinas-deepseek-r1-model-an-excellent-ai-advancement.html" rel="noreferrer noopener" target="_blank">CNBC</a>&nbsp;in January that DeepSeek used chips that are “fully export control compliant.”



Neither DeepSeek nor High-Flyer, the hedge fund that backs DeepSeek, immediately responded to requests for comment.



<h2 class="wp-block-heading" id="h-is-deepseek-controlled-by-the-chinese-government">Is Deepseek Controlled By The Chinese Government?</h2>



DeepSeek is a privately held company, but the startup and Liang have been embraced by the Chinese government, which is&nbsp;<a href="https://www.reuters.com/breakingviews/china-is-reshaping-not-choking-private-business-2024-10-30/" rel="noreferrer noopener" target="_blank">usually essential</a>&nbsp;for private businesses to thrive under the country’s communist one-party rule. Liang was among several industry leaders to&nbsp;<a href="https://www.reuters.com/world/china/chinas-xi-attends-symposium-private-enterprises-delivers-speech-2025-02-17/" rel="noreferrer noopener" target="_blank">meet with</a>&nbsp;Chinese President Xi Jinping in February, weeks after&nbsp;<a href="https://www.washingtonpost.com/world/2025/01/28/deepseek-liang-wenfeng-ai-technology/" rel="noreferrer noopener" target="_blank">meeting</a>&nbsp;China’s Premier Li Qiang. A meeting with Xi marked an apparent approval for the company, as DeepSeek is used by some government offices in China, while Communist Party-backed committees and police departments train workers to use the app, the New York Times&nbsp;<a href="https://www.nytimes.com/2025/03/18/business/china-government-deepseek.html" rel="noreferrer noopener" target="_blank">reported</a>. The cybersecurity analysis firm Feroot Security&nbsp;<a href="https://apnews.com/article/deepseek-china-generative-ai-internet-security-concerns-c52562f8c4760a81c4f76bc5fbdebad0" rel="noreferrer noopener" target="_blank">told</a>&nbsp;the Associated Press that DeepSeek had hidden code that could send user login information to China Mobile, which the U.S. has&nbsp;<a href="https://docs.fcc.gov/public/attachments/DOC-357372A1.pdf" rel="noreferrer noopener" target="_blank">banned</a>&nbsp;from operating in the states after citing ties between the company and the Chinese military.



<h2 class="wp-block-heading" id="h-will-deepseek-be-banned-in-the-u-s">Will Deepseek Be Banned In The U.s.?</h2>



The House panel did not recommend banning DeepSeek, and instead suggested the U.S. implement new export guardrails and prohibit the federal government from using China-based AI models. A bipartisan bill&nbsp;<a href="https://www.congress.gov/bill/119th-congress/house-bill/1121" rel="noreferrer noopener" target="_blank">banning</a>&nbsp;DeepSeek from federal devices was introduced in the House in February, though it’s not immediately clear whether the measure will be backed by other lawmakers. Other U.S. agencies have restricted access to DeepSeek, including the U.S. Navy, which&nbsp;<a href="https://www.cnbc.com/2025/01/28/us-navy-restricts-use-of-deepseek-ai-imperative-to-avoid-using.html" rel="noreferrer noopener" target="_blank">cited</a>&nbsp;“potential security and ethical concerns” linked to the app, and NASA, whose chief AI officer&nbsp;<a href="https://www.cnbc.com/2025/01/31/nasa-becomes-latest-federal-agency-to-block-chinas-deepseek.html" rel="noreferrer noopener" target="_blank">reportedly</a>&nbsp;expressed national security concerns. Australia banned DeepSeek from government devices, claiming the app posed an “unacceptable risk” to national security, while officials in&nbsp;<a href="https://garanteprivacy.it/home/docweb/-/docweb-display/docweb/10097450#english" rel="noreferrer noopener" target="_blank">Italy</a>,&nbsp;<a href="https://www.rfa.org/english/china/2025/02/03/china-taiwan-deep-seek-ban/" rel="noreferrer noopener" target="_blank">Taiwan</a>&nbsp;and&nbsp;<a href="https://www.reuters.com/technology/artificial-intelligence/south-koreas-industry-ministry-temporarily-bans-access-deepseek-security-2025-02-05/" rel="noreferrer noopener" target="_blank">South Korea</a>&nbsp;have also moved to ban DeepSeek from government devices.



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



DeepSeek’s generative AI model quickly rose in popularity after its release in the U.S. in January. The company claimed its chatbot outpaced its competitors, including OpenAI’s ChatGPT, and industry analysts speculated DeepSeek ran at a fraction of the cost of its rivals. President Donald Trump called DeepSeek’s release a “wake-up call” for U.S. industries, after it sparked a widespread selloff at the U.S. stock market led by Nvidia’s single-day loss of nearly $600 billion. DeepSeek has drawn criticism over its&nbsp;<a href="https://www.forbes.com/sites/maryroeloffs/2025/01/27/does-deepseek-censor-its-answers-we-asked-5-questions-on-sensitive-china-topics/">refusal</a>&nbsp;to answer questions on some controversial topics involving China, including questions about China’s treatment of Uyghurs, Taiwan’s status with China and what happened at Tiananmen Square in 1989.



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



<a href="https://www.forbes.com/sites/tylerroush/2025/02/06/deepseek-should-be-banned-from-federal-devices-lawmakers-urge-after-ai-chatbot-linked-to-banned-chinese-firm/">DeepSeek Should Be Banned From Federal Devices, Lawmakers Urge—After AI Chatbot Linked To Banned Chinese Firm</a>&nbsp;(Forbes)



<a href="https://www.forbes.com/sites/tylerroush/2025/03/25/deepseek-launches-ai-model-upgrade-amid-openai-rivalry-heres-what-to-know/">DeekSeek Launches AI Model Upgrade Amid OpenAI Rivalry—Here’s What To Know</a>&nbsp;(Forbes)

Newly Launched Chinese AI App DeepSeek Causes U.S. Tech Stocks To Tumble, Amid Its Rapid Rise To #1 In Apple’s App Store

China’s DeepSeek AI Poses ‘Profound Threat’ To National Security, House Report Claims

As the world watches one of Africa&#8217;s largest economies stake its claim in the next internet era, the inaugural Nigeria Web3 Landscape Report signals the West African nation’s Web3 story is just beginning.



Nigeria has emerged as Africa’s leader in the Web3 space, contributing 4% of all new developers globally in 2024—more than any other country on the continent—according to the inaugural Nigeria Web3 Landscape Report by venture capital firm Hashed Emergent.



The study—based on interviews, platform data, and original research—also reveals that the West African nation Web3 founders have launched over 80 startups, collectively raising more than $130 million to date, with $20 million secured in 2024 alone. Most of this recent funding went to early-stage startups focused on blockchain infrastructure and decentralized finance (DeFi) solutions.



&#8220;Challenges like funding translates to limited scale. Compared to India’s $5 billion in web3 funding, Nigeria’s $130 million collective funding reflects a smaller ecosystem constrained by unclear regulatory climate and investor caution. Majority of Nigerian web3 startups cite funding access as a major issue,&#8221; Uchenna Edeoga, Platform Associate at Hashed Emergent and lead author of the report, tells FORBES AFRICA.



The growing influence in Web3 is rooted in the country&#8217;s long-standing engagement with crypto. &#8220;Nigeria’s leadership in crypto adoption positions startups to serve a ready domestic market while exporting solutions to other high-adoption regions like India or the U.S.,&#8221; says Edeoga.



In 2024, the country ranked second globally in crypto adoption, according to Chainalysis, receiving $59 billion in crypto value—$24 billion of which came from stablecoins. What was once retail-focused adoption is now expanding into system-level applications: blockchain is being integrated into public services such as identity verification, education records, healthcare, and land registries.



“These are not pilot projects,” the report states. “They’re operational systems being deployed to improve transparency and trust in public infrastructure.”



Still, challenges persist. Many government systems lack the interoperability required for seamless blockchain integration. Institutional constraints—like limited digital capacity and fragmented procurement frameworks—threaten to slow the momentum.



The report highlights the role of Nigeria’s youthful population in driving this shift. Of the country’s 1.1 million developers, 86% of those active in Web3 are under the age of 27, with more than half joining the space in the past year. Most were onboarded through community-led initiatives like Web3bridge, Web3Ladies, and Solana and Base bootcamps.



But even as talent surges, employment remains fluid: only 15% of Nigerian Web3 developers are employed full-time in the sector. A majority work as freelancers, and 45% are paid in stablecoins, reflecting both a workaround to local currency volatility and the global nature of blockchain work. Despite high engagement, 90% of these developers earn below global benchmarks—a gap attributed to local market dynamics and persistent currency depreciation.



Unlike previous investment booms dominated by mega rounds, Web3 funding in Nigeria in 2024 skewed toward ecosystem grants and early-stage support from Layer 1 and Layer 2 blockchain protocols. Infrastructure startups raised $11 million, while financial services raised $7 million—more than triple the previous year’s total. By contrast, entertainment and gaming saw a sharp drop, falling from $17 million in 2023 to $2 million this year.



Yet interest remains high in sectors like SocialFi and NFTs, even as investors double down on foundational technologies. The report suggests that growing international exposure through bounty programs could help local startups gain traction.



Nigeria’s regulatory landscape is both evolving and uncertain.



In 2021, the Central Bank of Nigeria (CBN) banned banks from handling crypto-related transactions—a move reversed in December 2023, when financial institutions were permitted to serve licensed Virtual Asset Service Providers (VASPs).



The Securities and Exchange Commission (SEC) has since launched the Accelerated Regulatory Incubation Program (ARIP), granting temporary licenses and creating clearer onboarding pathways for startups. However, inconsistencies persist: in 2024, the Nigerian Communications Commission blocked access to Binance and Coinbase, even as the SEC approved local exchanges like Quidax.



A patchwork of oversight among regulators—the SEC, CBN, and Nigeria Deposit Insurance Corporation (NDIC)—alongside unclear frameworks for DeFi, DAOs, and NFTs, continues to deter investors and complicate compliance.



&#8220;To sustain and accelerate Nigeria’s web3 ecosystem momentum, stakeholders can focus on strengthening developer pipelines. Expanding initiatives like developer bootcamps, hackathons and building an active developer community can further grow this base,&#8221; says Edeoga.

Close-up of holding smartphone, arms wrapped with fiber optics

Nigeria Emerges As Africa’s Web3 Powerhouse, Contributing 4% Of Global New Developers In 2024

The philanthropist, businesswoman, advocate for women and girls, and author speaks on embracing change, staying motivated and the universal lessons that have shaped her journey in her new book.



“Well, let me just say that I never expected to write a book like this. It is deeply personal, and to be honest, it doesn’t always show me at my best,” Melinda French Gates shares with FORBES AFRICA.



“…Throughout my life, I’ve benefited greatly from people who had the courage to share their stories and be honest about their experiences. Knowing how much their vulnerability helped me on my journey made me want to try to do that for someone else.”



Gates, the founder of Pivotal Ventures–which works to advance social progress and expand women’s power and influence in the U.S. and around the world–and co-founder of the Gates Foundation concedes that she has been through many changes over the past few years.



She adds that, in the toughest moments, she would reach for her bookshelf and find the wisdom she needed to make sense of everything happening around her.


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="683" src="https://cms.forbesafrica.com/wp-content/uploads/2025/04/Ludzi-School-Malawi-2023-Photo-Credit-The-Obama-Foundation-1024x683.jpg" alt="" class="wp-image-65247" style="width:678px;height:auto" srcset="https://cms.forbesafrica.com/wp-content/uploads/2025/04/Ludzi-School-Malawi-2023-Photo-Credit-The-Obama-Foundation-1024x683.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2025/04/Ludzi-School-Malawi-2023-Photo-Credit-The-Obama-Foundation-300x200.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2025/04/Ludzi-School-Malawi-2023-Photo-Credit-The-Obama-Foundation-768x512.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2025/04/Ludzi-School-Malawi-2023-Photo-Credit-The-Obama-Foundation-1536x1025.jpg 1536w, https://cms.forbesafrica.com/wp-content/uploads/2025/04/Ludzi-School-Malawi-2023-Photo-Credit-The-Obama-Foundation-2048x1366.jpg 2048w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Ludzi Girls Secondary School in Mchinji, on Tuesday, Nov. 14, 2023. (The Obama Foundation)</figcaption></figure></div>


The foundation, which focuses on health, gender equality, global development and education, has reported around $92 million of support in Africa, has offices in Senegal, Nigeria, Ethiopia, Kenya and South Africa and has partnered with the African Centers for Disease Control and Prevention, the African Union, the United Nations Children’s Fund (UNICEF) and Amref Health Africa, among others.



In her new book, The Next Day: Transitions, Change, and Moving Forward, Gates shares a glimpse of the moments that shaped her, including her journey of becoming a mother, the end of her marriage and life after her departure from the foundation. The common thread? Embracing the uncertainty and navigating your way through it.



She also reflects on balancing several roles and how she stays motivated.



“I’ve learned how important it is to take time for myself and to prioritize friendships and family, and I’m very intentional about doing what I need to recharge and regroup. But honestly, I find the work that I’m doing right now extremely energizing… and I want to do everything I can to make a difference,” Gates explains.



“Anytime I meet with one of the amazing partners that Pivotal [Ventures] works with, I walk away with so much motivation and hope. They are forging ahead with such focus and ingenuity that it always inspires me to double down on my own commitment.”



Her philanthropic work alone has afforded her several moments that challenged and inspired her, and gave her the courage to use her voice, including meeting scientists in Senegal who are developing lifesaving vaccines and leading important research, while managing their responsibilities at home.



“[It] reminds me how many exciting innovations are taking place all around the world—and how much more we could unleash if mothers had more support.



“Most recently, on a trip to Cape Town, I was deeply moved by the women I met who are fighting the violence and injustice they’ve endured with so much bravery and resilience. All of these women, and countless others, are the reason I do what I do.”



Her advice for readers in similar periods of transition is to not rush through them: “I know that change can be scary, and it is so tempting to try to get it over with as quickly as possible and jump to the next thing that feels safe and familiar. But if there’s one lesson that I want people to take away from this book, it’s that lingering in the uncertainty can offer a lot of wisdom and perspective that you might not get otherwise. Just know that you don’t have to navigate it alone—you can let the people who love you be there for you. Trust me, they want to”.

MelindaFrenchGates_photo by Jason Bell (21

‘Lingering In The Uncertainty Can Offer Wisdom And Perspective’: Melinda French Gates Puts Pen To Paper, Talks Transition And Moving Forward

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



More than 45,000 Spotify users&nbsp;<a href="https://downdetector.com/status/spotify/" rel="noreferrer noopener" target="_blank">reported</a>&nbsp;the popular music streaming platform was down Wednesday morning, according to reports filed on DownDetector.com, prompting hundreds of social media users to cope with memes and panicked comments.



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



Spotify users began&nbsp;<a href="https://downdetector.com/status/spotify/" rel="noreferrer noopener" target="_blank">reporting issues</a>&nbsp;on DownDetector.com around 9 a.m. EST, with reports peaking at just before 9:30 a.m., as more than 45,000 users reported issues with the app.



<a href="https://x.com/SpotifyStatus/status/1912487507616313838" rel="noreferrer noopener" target="_blank">Spotify Status</a>, the company’s X account for server issues, acknowledged the possible outage in a post just before 9 a.m. EST: “We’re aware of some issues right now and are checking them out!”



Forbes has reached out to Spotify for comment.



<h2 class="wp-block-heading">How Are Spotify Users Reacting To The Outage?</h2>



More than 1,300 users flooded the comments section of Spotify’s DownDetector.com page in a panic, many of whom joked and commiserated about the temporary loss of the streaming platform. “It’s only been 10 minutes without Spotify, but it feels like an eternity,” one of the most-liked comments says, with the user adding they are “desperately trying to find something to occupy my mind, but nothing feels right.” “I don’t want to use YouTube for music,” another complained in an all-caps comment. Users also took to X to complain about the outage, where “Spotify’ is the No. 1 trend as of Wednesday morning. One user garnered thousands of likes on a post with a Spotify logo edited onto a&nbsp;<a href="https://x.com/musicstruggles1/status/1912486819553292340" rel="noreferrer noopener" target="_blank">headstone</a>, while another&nbsp;<a href="https://x.com/graciem19999/status/1912494480831177036" rel="noreferrer noopener" target="_blank">joked</a>&nbsp;“the thoughts are getting in” without music.



<h2 class="wp-block-heading">Is Spotify Down—and When Will It Be Back?</h2>



Spotify has not yet said when it expects server issues to be resolved. The company’s customer service X account,&nbsp;<a href="https://x.com/SpotifyCares/status/1912502365019656209" rel="noreferrer noopener" target="_blank">Spotify Cares</a>, has responded to multiple users reporting issues Wednesday morning, stating its “developers are looking into this as we speak.”

Music And Sound Streaming Platforms Stock Photos

Spotify Outage: Music Platform Appears To Be Down—And People Are Freaking Out

Innovation, education and inspiration are at the core of the AFRICA2MOON PROJECT, soon set to showcase the potential of the continent for deep-space exploration.



Africa’s space exploration ambitions could take a giant leap forward in April with its first moon mission and, potentially, its first lunar radio telescope.



Called the Africa2Moon project, it awaits an announcement on the final payload selection for China’s Chang’e 8 mission (to explore the lunar south pole) scheduled to launch in 2028.



The Africa2Moon project’s first mission aims to deploy four antennae near the lunar south pole, according to Dr Adriana Marais, Director at the Foundation for Space Development Africa, and the Head of Science for Africa2Moon. “[This will be] paving the way for a larger future mission to deploy an array of 54 antennae on the lunar far side, representing each of Africa’s nations,” she adds.



The project is focused on a low-cost, low-mass, low-frequency array of BALLS (Bounced African Lunar Low Spheres) or spherical antenna systems, as Marais explains it, that will work together to investigate a region of space–frequencies below 10 MHz–mostly undetectable from our planet.



“Radio emissions from solar bursts, Earth’s aurora, Jupiter, the galaxy’s glow, and also the lunar surface itself, are some of the phenomena that Africa2Moon will attempt to observe,” adds Marais.



Showcasing cooperation on an international scale, the South China Morning Post reported in 2023 that China was planning to offer more space for foreign equipment on its Chang’e 8 mission and that it could carry up to 200kg of it.



Africa’s space ambitions have soared in recent years. As per Space in Africa, a provider of market research, consulting, and data analytics services, African nations budgeted $465.34 million for their space programs in 2024.



“At the Foundation for Space Development Africa, we believe [it] is time for Africa to expand its role in space exploration,” says Marais, adding that “through the power of collaboration, Africa2Moon will serve as a continent-wide in- spiration and enabler for space-related activities; to educate, inspire and pave the way for African scientists to aspire to achieve world-firsts”.



The initiative, which was founded in 2014 by Carla Sharpe Mitchell, who is also the mission director of Africa2Moon, is led by the foundation in collaboration with organizations like the South African Radio Astronomy Observatory (SARAO) and South African National Space Agency (SANSA).



Other names involved in the project include Khutso Ngoasheng as Director of the Foundation for Space Development Africa, Thomas Kusel as Head of Engineering and Hendrik Burger for Space Systems.



Marais, who, as a child, dreamed of exploring other planets, is a theoretical physicist, technologist and advocate for off-world exploration. She is also the founder of Proudly Human, a non-profit volunteer organization, which she set up in 2019. Its Off-World Project is reported as a series of habitation experiments in the most remote and extreme environments on the planet. According to Marais, the project will collect data on groups of experts setting up off-grid infrastructure including shelter, power, water, air, food and communication systems, from scratch, in places such the driest deserts as well as from under the ocean. She adds that the team will live as a research community and prepare for life beyond Earth. It will also allow them to better understand community structures



here on the planet and is expected to “generate exploration-driven innovation and research”. All of this will reportedly be filmed and showcased through a documentary series, titled Mission Off-World.



When it comes to lunar exploration, Marais believes its importance lies in the fact that it reveals our capabilities as humans and contributes to a collective sense of participation and belonging.



“Space exploration gives us a broader perspective of our world, whether we are thinking about the satellites that en- able global communications networks and imagery of the sur- face of our planet, or rovers sending us videos of the surface of Mars. Expanding beyond Earth will further advance our society, also in ways we cannot yet imagine.



“When children living in Africa and all around the world look up at the Moon, we aim to promote a sense of wonder, excitement and participation in this exciting era for human- ity, as we prepare to establish a human presence on the Moon, Mars and beyond.”



Here’s a winner with ambitions beyond earth!&nbsp;Dr Adriana Marais&nbsp;is Director of the Foundation for Space Development Africa and Head of Science for the Foundation’s Africa2Moon Project which is in the running to become Africa’s first mission to the Moon. With a background in theoretical physics and currently a researcher at the University of Stellenbosch, in 2019, she also founded Proudly Human, and has visited some of the harshest and remotest locations on Earth.

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Shooting For The Moon: Africa Mission Near Lunar South Pole Is Close To Launch

Elon Musk has long claimed civilization will collapse unless we raise the birth rate. Meanwhile, his “DOGE” group is slashing billions in funding for pregnant and nursing mothers and their children.



When Sevonna Brown learned that Elon Musk’s quasi-governmental Department of Government Efficiency (“DOGE”) had ordered payment stopped on her $2 million plus NIH grant for maternal community healthcare, she started hitting the phones. She was to cease operations immediately, and there was a lot of work in progress that needed to be halted.



Women on their way to lactation appointments would have to turn around. Home visits helping pregnant and postpartum women with blood pressure spikes and suicidal ideation would be cancelled. Domestic violence shelters for pregnant women would likely shutter, she said, and deliveries of food and formula to new mothers and their babies would stop.



The network of services for mothers and children that she had spent more than a decade building was coming to a screeching halt. “The world has literally gone dark,” she said.



Brown is the founder of Sanctuary Medicine &amp; a cooperative member at Restore Forward in Brooklyn, NY. Her work supporting people through pregnancy and new parenthood was funded in part through the NY-CHAMP Maternal Health Research Center of Excellence, which lost support after DOGE cancelled more than $10 billion in grants from the Department of Health and Human Services (HHS).



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“We can’t claim to care about birthrates while defunding the very systems that make pregnancy, birth, and parenting safe.”Emilie Rodriguez, co-founder of The Bridge Directory
</blockquote>



Given Musk’s endless warnings that falling birthrates pose an existential threat to civilization, DOGE’s abrupt gutting of maternal health services is simultaneously ironic, and exactly what you’d expect from an effort whose&nbsp;<a href="https://www.forbes.com/sites/conormurray/2025/02/19/here-are-the-biggest-doge-hoaxes-and-inaccuracies-as-8-million-canceled-ice-contract-listed-at-8-billion/">blunders</a>&nbsp;may well&nbsp;<a href="https://www.forbes.com/sites/saradorn/2025/04/04/trumps-great-rehiring-over-26000-fired-by-doge-likely-to-return-so-far/">exceed</a>&nbsp;its claimed, but&nbsp;<a href="https://www.nytimes.com/2025/03/13/us/politics/doge-errors-funding-grants-claims.html" rel="noreferrer noopener" target="_blank">difficult to verify</a>, achievements. A&nbsp;<a href="https://www.vanityfair.com/style/story/all-elon-musk-children-and-mothers?srsltid=AfmBOoqnsSgo2mRPwXXhrkyTDlu1GyW7MlVV1kbzFf08aJ9YBrtudj8z" rel="noreferrer noopener" target="_blank">father to an estimated 14 children</a>, Musk has said he thinks “<a href="https://www.cnbc.com/2021/12/07/elon-musk-civilization-will-crumble-if-we-dont-have-more-children.html" rel="noreferrer noopener" target="_blank">civilization is going to crumble</a>” if women don’t have more babies. He has&nbsp;<a href="https://www.nytimes.com/2024/10/29/business/elon-musk-children-compound.html" rel="noreferrer noopener" target="_blank">offered his sperm</a>&nbsp;to acquaintances and&nbsp;<a href="https://www.rollingstone.com/politics/politics-news/elon-musk-tucker-carlson-fox-birth-control-abortion-1234717505/" rel="noreferrer noopener" target="_blank">blamed birth control</a>&nbsp;for decreasing pregnancy rates. “It should be considered a national emergency to have kids,”&nbsp;<a href="https://x.com/elonmusk/status/1800318513502167246?lang=en" rel="noreferrer noopener" target="_blank">he wrote last summer</a>.



Musk has&nbsp;<a href="https://www.bloomberg.com/news/articles/2023-08-14/elon-musk-s-10m-texas-donation-funds-a-favorite-topic-of-his-fertility" rel="noreferrer noopener" target="_blank">donated</a>&nbsp;millions of dollars to fund research on fertility. But at this point, he has taken much more from pregnant women and new mothers than he has given. In February, DOGE&nbsp;<a href="https://www.theguardian.com/us-news/2025/feb/15/trump-medical-research-funding-maternal-mortality" rel="noreferrer noopener" target="_blank">threatened</a>&nbsp;a seven-year, $168 million NIH initiative to improve maternal health across the state of Michigan. It&nbsp;<a href="https://www.wsj.com/politics/policy/trump-administration-plans-to-freeze-family-planning-grants-541441be" rel="noreferrer noopener" target="_blank">suspended more than $27 million</a>&nbsp;in grants to women’s health centers,&nbsp;<a href="https://www.healthcare-brew.com/stories/2025/03/19/meet-two-former-federal-health-technologists-work-halted-doge" rel="noreferrer noopener" target="_blank">laid off</a>&nbsp;federal workers running programs for expecting mothers on Medicaid, and&nbsp;<a href="https://taggs.hhs.gov/Content/Data/HHS_Grants_Terminated.pdf" rel="noreferrer noopener" target="_blank">cancelled</a>&nbsp;$1.6 million in funding for maternal and postpartum care at the Morehouse School of Medicine in Atlanta, GA.



“We can’t claim to care about birthrates while defunding the very systems that make pregnancy, birth, and parenting safe,” says Emilie Rodriguez. A medical anthropologist, doula, and co-founder of The Bridge Directory, a group of perinatal maternal healthcare providers, Rodriguez worked with Sevonna Brown on the CHAMP Center of Excellence grant.



The CHAMP Center’s grant focused on providing care to women who are Medicaid recipients. In New York City, Black women are&nbsp;<a href="https://www.nytimes.com/2024/01/07/nyregion/childbirth-maternal-mortality-black-women.html#:~:text=Semple%20were%20Black.,disparity%20than%20the%20national%20one." rel="noreferrer noopener" target="_blank">nine times as likely</a>&nbsp;to die in childbirth as their white counterparts. “New York City should be one of the safest places in the world to give birth—but for far too many Black and Brown women, it’s not,” said Victoria St. Clair, a doula and community member who helped administer the NY-CHAMP grant. “The numbers are painful, and the lived experiences behind them are even more so. Still, I want to be clear: no one should be afraid to become pregnant or start a family here … We believe every person deserves to bring life into this world without risking their own.”



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“Anyone who’s had a kid, who’s gone through those early days of parenting, knows the terror of putting your baby to bed and waking up with a jolt asking, ‘are they still breathing?’”Leslie Root, Associate Director at the Colorado University Population Center
</blockquote>



Many of the DOGE cuts have been justified as part of an “anti-woke” agenda, which aims to cut medical care for traditionally underserved populations. “We got word that there were words we had to eliminate out of our grants – like, women, and Black, and undocumented, underserved, immigrants,” Rodriguez explained. “It’s not just censorship that’s at stake, it’s erasure,” she said.



Whatever their intent, the cuts are likely to worsen healthcare for mothers and children of all races and ethnicity, said Leslie Root, a professor at Colorado University and Associate Director at the school’s Population Center. Root pointed to a recently gutted team at NIH that, until recently, administered the long-standing Pregnancy Risk Assessment Monitoring System (PRAMS) study. The team conducted tentpole research on the unexpected infant deaths previously known as SIDS, or sudden infant death syndrome.



“Anyone who’s had a kid, who’s gone through those early days of parenting, knows the terror of putting your baby to bed and waking up with a jolt asking, ‘are they still breathing?’”



Donald Trump, like Elon Musk, has expressed a desire to help young Americans who want to start a family. “I’ll be known as the fertilization president,” he&nbsp;<a href="https://www.nbcnews.com/health/health-news/cdcs-ivf-team-gutted-even-trump-calls-fertilization-president-rcna199261" rel="noreferrer noopener" target="_blank">said</a>&nbsp;last week, as Musk’s DOGE&nbsp;<a href="https://www.linkedin.com/feed/update/urn:li:activity:7314743980062040065/" rel="noreferrer noopener" target="_blank">cut funding</a>&nbsp;to the Health Resources Services Administration’s Maternal and Child Health Bureau, the NIH’s National Institute of Child Health and Human Development, and the CDC’s Division of Reproductive Health.



A recently departed staffer from the CDC described layoffs at a team in the Division of Reproductive Health working on a set of federal guidelines for the safe use of contraceptives — guidelines that are essential to ensuring safe pregnancies in women with conditions like diabetes, high blood pressure, lupus and MS.



“The guidelines can be the difference between these women being able to safely start families or not, and in some cases even save their lives,” they said.



The DOGE cuts have also decimated programs for children’s health.&nbsp;<a href="https://taggs.hhs.gov/Content/Data/HHS_Grants_Terminated.pdf" rel="noreferrer noopener" target="_blank">It has terminated</a>&nbsp;more than $1 million in grant funding for a children’s behavioral health study in Massachusetts, more than $750,000 to treat kids with respiratory disease at the Seattle Children’s Hospital, more than $200,000 to treat children with skeletal problems at Boston Children’s Hospital, more than $1.6 million in treatment and prevention of HIV in children at the Children’s Hospital of Los Angeles, almost another million in HIV treatment at the Children’s Hospital of Philadelphia, and a whopping $<a href="https://www.reuters.com/business/healthcare-pharmaceuticals/us-government-pulls-back-over-11-billion-funding-state-health-departments-2025-03-26/" rel="noreferrer noopener" target="_blank">12&nbsp;billion</a>&nbsp;in funding from state health departments, including&nbsp;<a href="https://www.nbcnews.com/health/health-news/rfk-jr-vaccines-children-weakening-system-hhs-budget-cuts-rcna199188" rel="noreferrer noopener" target="_blank">$2 billion</a>&nbsp;earmarked for child vaccination programs. (Child vaccinations&nbsp;<a href="https://www.nature.com/articles/d41586-025-00862-1" rel="noreferrer noopener" target="_blank">have saved an estimated 154 million lives</a>&nbsp;over the past 50 years.)



People affected by the DOGE cuts may not recognize those offices’ names, Sevonna Brown said, but they’ll feel their impact nearly immediately. “The average pregnant mother sitting in a shelter does not know what HHS is, but she knows what her SNAP benefit is…she knows what her Medicaid card is.” (SNAP&nbsp;<a href="https://www.fns.usda.gov/snap/supplemental-nutrition-assistance-program" rel="noreferrer noopener" target="_blank">helps</a>&nbsp;pregnant women and new mothers access food and formula, and Medicaid&nbsp;<a href="https://www.medicaid.gov/medicaid/program-information/medicaid-and-chip-enrollment-data/report-highlights" rel="noreferrer noopener" target="_blank">provides</a>&nbsp;health insurance to more than 70 million Americans each year.)



DOGE has billed itself as a way to cut fat from the federal government, saving taxpayers valuable cash. But Dr. Uma Reddy, who led NY-CHAMP’s work, said that the interventions carried out by her team probably saved taxpayers money. Helping women avoid mental and cardiovascular health crises avoids expensive care down the road, and saves women and their children from needless suffering.



In recent days, the DOGE cuts have rankled even conservatives and proponents of the Trump Administration&#8217;s agenda. Fox News commentator Jesse Waters&nbsp;<a href="https://uk.news.yahoo.com/fox-news-host-jesse-watters-194638205.html?guccounter=1&amp;guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&amp;guce_referrer_sig=AQAAAMprH-7pWhudv3V8tJLHcpYX9mk5WxDRKyCOOEzZnLsr-W2TxI8C7d2AE7M4UEY-U4QFKUfAV-1xaLuFAAk06IxDOIs1wB1x_IWggYYOf0l07zfNbwyF1R9lV0a-2f9toCMlwP4r2KO0ncNA6WgFO_hB7p8xiAGR0471iAOIqoLx" rel="noreferrer noopener" target="_blank">recently complained to viewers</a>&nbsp;of his primetime show that his mother was upset about the cuts, and that his sister — an employee at Johns Hopkins University — could be personally affected by them.



In the meantime, Sevonna Brown’s network of healthcare providers are trying to pick up the slack. “We’re taking food out of our own fridges. We’re sharing. We’re doing mutual aid. We have to show up for people, we can’t leave people alone. … We can’t leave a mom who can’t nurse or breastfeed without formula. We are making it happen, and that’s straining our families and our communities.&#8221;

President Trump Attends UFC Title Fight

Elon Musk Wants To Raise The Birth Rate. He’s Cutting Medical Care For Mothers And Babies.

TheVenture Capital in Africa Report suggests theAfrican market is increasingly funding itself—out of necessity, but also out of confidence. West Africa retained its status as the continent’s most active region.



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 “Local investors leading fundraising rounds is a trend that’s likely to persist.”
</blockquote>



For the first time in modern venture capital history on the continent, African investors have emerged as the single largest group of active participants in the ecosystem—accounting for 31% of the total investor pool in 2024, according to the latest Venture Capital in Africa Report by the African Private Capital Association (AVCA).



This marks a leap from 19% a decade ago and signals a growing shift in who is backing African innovation.



The finding, released in the sixth edition of AVCA’s annual report, underscores a defining moment in Africa’s startup funding landscape: a surge in domestic capital formation, even as overall investor participation declined by 21% from the previous year.



In total, 614 investors were active across the continent in 2024—a downturn reflecting broader global macroeconomic pressures but also a unique regional resilience.



AVCA’s data shows that Africa experienced its venture capital correction later than other global markets. While venture markets globally bottomed out in 2023, Africa hit its funding low in the first half of 2024. The lag was attributed to the region&#8217;s delayed exposure to inflation, supply chain disruptions, and geopolitical shocks that impacted capital flows worldwide.



Deal activity suffered accordingly. African startups saw a 22% year-over-year (YoY) decline in deal value and a 28% drop in deal volume, sharper than global averages where deal value grew by 6% and volume fell by 24%. Despite these contractions, the report notes signs of underlying strength: venture debt lenders, though representing just 12% of all deal volume, contributed a remarkable 37% of total deal value, showing alternative funding models gaining traction.



Yet, a modest 3% YoY increase in both deal value and volume in the second half of 2024 suggests that the continent’s investor appetite remains intact.



Experts say the increase in African investor participation is not merely symbolic—it reflects a fundamental shift in how capital is being mobilized and deployed.



“The trend of increased local investor participation in African venture capital is likely to continue for several reasons,” Dotun Olowoporoku, Managing Partner at Ventures Platform, says to FORBES AFRICA. “From the growing sophistication of local capital to evolving regulations enabling pension funds to allocate to VC, the conditions are maturing.”



According to Olowoporoku, the rise in participation is driven by institutional evolution, economic necessity and ecosystem maturity. “Success stories like Paystack and Moniepoint have proven the viability of African tech investments.’’



Still, challenges remain. African VC funds are typically smaller in size, which limits their capacity to write larger checks or participate in later-stage rounds. In some markets, regulatory constraints continue to restrict institutional investors like pension funds from fully participating. And currency depreciation, particularly in markets like Nigeria, poses a risk to returns—especially for investors measuring performance in dollars.



Yet, this local involvement is beginning to influence where and how money flows.



“Local investors typically have deeper insights into market dynamics, regulatory environments, and consumer behavior,” Olowoporoku says. “We’re seeing a greater focus on startups solving real, immediate problems—painkillers, not vitamins.”



West Africa retained its status as the continent’s most active region, accounting for 23% of total deal volume, with Nigeria alone responsible for 16%. The so-called “Big Four” markets—Nigeria, Egypt, Kenya, and South Africa—continued to dominate, representing 55% of total deal volume and 64% of deal value.



Fintech remained the top-funded sector, with 116 deals raising $1.4 billion (or 34% of all tech-enabled rounds). However, other sectors are beginning to emerge. Clean &amp; ClimateTech accounted for 13% of tech-enabled deals in 2024—up from a five-year average of 7%. For the first time, AI broke into the top four verticals, with 42 deals raising $108 million.



“AI and greentech are growing trends,” Chiebuka Obumselu of Fund Operations at Innovate Africa Fund, tells FORBES AFRICA. “Each cycle, investors are building stronger pipelines and better due diligence frameworks. I believe we’ll see more capital deployed to early-stage companies across a wider range of sectors.”



Despite economic headwinds, fundraising remained robust. In 2024 alone, eight VC funds closed a total of $736 million, representing a 41% YoY increase. Since 2015, 35 fund managers have raised $2.7 billion across 41 funds, translating to a compound annual growth rate (CAGR) of 25%.



The exit environment is also gradually strengthening. From 2019 to 2024, Africa recorded 138 exits, indicating growing opportunities for returns, even though the number remained flat in 2024 with 26 exits. Trade sales accounted for 84% of those exits, with an average holding period of 3.8 years.



“Local investors leading fundraising rounds is a trend that’s likely to persist,” Obumselu says. “And the more players in the market, the more capital there will be for follow-on rounds.”

Group Asian business people put their hands together, handshaking Unity mutually beneficial business relationship. finance Economic graph on the table. Teamwork concept

African Investors Lead In Venture Capital For The First Time In Modern History, Says New Report

A recent report also notes that the African continent makes up less than 4% of global power sector emissions despite representing 19% of the global population.



The growth rate of solar generation reached a six-year high in 2024, up by 29%, with the share of global electricity generation from low-carbon sources being 40.9%. As reported by energy thinktank, Ember, in the Global Electricity Review 2025,global electricity demand grew by 4% last year, which was amplified by heatwaves.



Africa, however, only accounted for 3.1% of this demand. The continent also still only makes up 3.6% of global power sector emissions.



The report adds that “data for 2024 reveals a considerable rise in solar exports to the Middle East and Africa–two of the world’s sunniest regions that have historically had very low levels of installed capacity. In both regions, imports of solar panels have tripled in the last two years”.



South Africa imported 3.8 GW of solar panels in 2024; this is following “a record-breaking 2023 when 4.3 GW were imported as consumers turned to the technology amid rising blackouts”. Nigeria and Morocco imported 1.3 GW and 1.1 GW respectively, which reportedly marks the first time that either country has imported more than 1 GW in a single year.



“Over the last five years, 99 countries have doubled the amount of electricity they produce from solar power. This includes emerging economies such as South Africa, countries with the largest power systems in the world such as China and the United States and countries with the highest shares of solar power in their electricity mix such as Hungary and Spain.”



According to the Africa Market Outlook for Solar PV 2025–2028, published in March, in partnership with RMI and supported by GET.invest, 2.4 GW of new solar capacity was installed on the continent last year.



“By 2028, the continent is expected to install an additional 23 GW of solar–more than doubling its current capacity,” the outlook states.



“This growth is still a fraction of the immense solar potential in Africa, and it is essential to tap into this resource to meet global climate goals and the tripling of renewables target.”



The Ember report, which analyzes electricity data from 215 countries, including the latest 2024 data for 88 countries representing 93% of global electricity demand, as well as estimates for 2024 for all other countries, further indicates that South Africa forms part of the top three countries in the world with the highest share of coal power in 2024 at 82%, behind only Kosovo at 92% and Mongolia at 86%.



However, the country’s cabinet has approved the South African Renewable Energy Master (SAREM) Plan in March, which aims to increase the pace of the rolling out of renewable energy projects, create jobs and expand local manufacturing, foster industrial development through localization and support a just energy transition, amongst others.



Minister of Electricity and Energy, Kgosientsho Ramokgopa welcomed the approval, stating: “The South African Renewable Energy Master Plan is not just a blueprint for green industrialization; it is a pathway to a more sustainable and equitable future for all South Africans.



“We have a unique opportunity to lead in the global renewable energy and battery storage landscape, creating jobs and fostering economic growth while protecting our environment.”

Solar Power as South Africa Eyes Supply Deal With China

Global Solar Generation Growth Rate Up 29% In 2024; South Africa Sees Imports Of 3.8 GW Of Solar Panels

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



An all-female crew including pop star Katy Perry, broadcast journalist Gayle King and Jeff Bezos’s fiancée Lauren Sanchez will blast off to space in a livestreamed launch Monday morning on a flight manned by Blue Origin, marking the company’s latest star-studded trip that will take its crew on a brief trip into space.



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



Perry, King and Sanchez will be joined Monday by scientists Amanda Nguyen and Aisha Bowe, as well as independent film producer Kerianne Flynn, marking the first all-female space trip since 1963.



The mission will take flight on Blue Origin’s New Shepard vehicle, which has already carried several celebrities to space and can reportedly cost passengers millions.



<h2 class="wp-block-heading">When Is The Blue Origin Launch And How Can I Watch It?</h2>



Blue Origin is targeting 9:30 a.m. EST for&nbsp;<a href="https://www.blueorigin.com/missions/ns-31" rel="noreferrer noopener" target="_blank">launch</a>, though takeoff could be pushed back slightly due to weather-related or technology-related delays. Blue Origin began live coverage and a livestream of the launch on its social media&nbsp;<a href="https://x.com/blueorigin/status/1910799194937290837" rel="noreferrer noopener" target="_blank">channels</a>&nbsp;and its&nbsp;<a href="https://www.blueorigin.com/missions/ns-31" rel="noreferrer noopener" target="_blank">website</a>&nbsp;earlier Monday.



<h2 class="wp-block-heading">Why Are Katy Perry And Gayle King Going To Space?</h2>



The space mission is the latest flight on Blue Origin’s New Shepard vehicle, which was created for commercial space flights and is a key figure in the growing, and costly, space tourism industry. In a cover story about the space mission, Perry told&nbsp;<a href="https://www.elle.com/culture/celebrities/a64341516/blue-origin-female-flight-crew-space-interview-2025/" rel="noreferrer noopener" target="_blank">Elle</a>&nbsp;she has “wanted to go to space for almost 20 years” and wanted to make space “glam.” She told the&nbsp;<a href="https://apnews.com/article/katy-perry-spaceflight-interview-ced939b06e1b8b82fa84fe3c2ce41ad9" rel="noreferrer noopener" target="_blank">Associated Press</a>&nbsp;she has “always been interested in astrophysics and interested in astronomy and astrology and the stars,” adding she wants to “inspire young girls to go, ‘I’ll go to space in the future.’” The crew members told Elle they wanted to set an example for women in space exploration, citing statistics that only about 11% of all people to travel to&nbsp;<a href="https://theconversation.com/almost-90-of-astronauts-have-been-men-but-the-future-of-space-may-be-female-125644" rel="noreferrer noopener" target="_blank">space</a>&nbsp;have been women.



<h2 class="wp-block-heading">How Long Is Blue Origin’s Space Mission—and Where Are They Going?</h2>



The&nbsp;<a href="https://www.blueorigin.com/news/new-shepard-ns-31-mission" rel="noreferrer noopener" target="_blank">flight</a>&nbsp;is expected to last just 11 minutes. The spacecraft will take the crew about 62 miles past the Kármán line, which is the internationally recognized boundary of space. The crew will feel several minutes of weightlessness while in space before returning to Earth. There will not be any pilots on board, as the rocket is fully autonomous.



<h2 class="wp-block-heading">Which Celebrities Has Blue Origin Taken To Space?</h2>



Bezos, the world’s second-richest person and the founder of Blue Origin, went to space on a New Shepard flight in July 2021, the spacecraft’s first mission with a crew. Bezos was joined by his brother, Mark Bezos, aviator Wally Funk and then-18-year-old Oliver Daemen. Daemen was selected to join the mission after crypto billionaire&nbsp;<a href="https://www.forbes.com/profile/justin-sun/">Justin Sun</a>&nbsp;won an auction for a whopping $28 million to join the crew, but&nbsp;<a href="https://www.washingtonpost.com/technology/2021/07/15/blueoriginjeffbezos28millionauctionspace/" rel="noreferrer noopener" target="_blank">deferred</a>&nbsp;his flight due to scheduling conflicts. Actor&nbsp;<a href="https://www.usatoday.com/story/news/nation/2025/04/12/blue-origin-spaceflights-new-shepard-rocket/83007319007/" rel="noreferrer noopener" target="_blank">William Shatner</a>&nbsp;flew to space on a New Shepard rocket in October 2021, becoming the oldest person to travel to space, while television host and former NFL player Michael Strahan participated in a New Shepard flight in December 2021.



<h2 class="wp-block-heading">How Much Does A Blue Origin Flight Cost?</h2>



Tickets for travel on Blue Origin’s flights can cost millions. To reserve a seat, customers must fill out a&nbsp;<a href="https://www.blueorigin.com/new-shepard/reserve-a-seat" rel="noreferrer noopener" target="_blank">form</a>&nbsp;on the company’s website that includes a deposit of $150,000. Coby Cotton, a YouTube star who co-founded the popular Dude Perfect channel, flew on a New Shepard rocket in August 2022, and&nbsp;<a href="https://qz.com/emails/space-business/1849365590/space-business-moondaos-golden-tickets" rel="noreferrer noopener" target="_blank">Quartz reported</a>&nbsp;his seat cost $1.25 million. Blue Origin has not publicized how much it charges for space flights, though&nbsp;<a href="https://observer.com/2022/06/blue-origin-space-tourism-pricing-marketing/" rel="noreferrer noopener" target="_blank">Observer reported</a>&nbsp;the company has offered some flights at no cost, while charging others steeper prices. “It’s not about money; it’s about who you are, your social capital, whether you align with their launch purposes,” Roman Chiporukha, co-founder of SpaceVIP, which helps wealthy people book space trips, told Observer.



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



The upcoming space flight has prompted mixed reactions. Actress&nbsp;<a href="https://www.usatoday.com/story/entertainment/celebrities/2025/04/04/olivia-munn-blue-origin-space-comments/82851284007/" rel="noreferrer noopener" target="_blank">Olivia Munn</a>&nbsp;criticized the space trip in an appearance on “Today with Jenna &amp; Friends” last week, calling it “gluttonous.” “It&#8217;s so much money to go to space,” Munn said, adding there are “a lot of people who can&#8217;t even afford eggs.” Some social media users have reacted to the upcoming trip with concern. One&nbsp;<a href="https://www.tiktok.com/@katyperrycrave/video/7489184745314716950?is_from_webapp=1&amp;sender_device=pc" rel="noreferrer noopener" target="_blank">TikTok video</a>&nbsp;praising the space flight garnered 3 million likes, though many of the most-liked comments are from users stating they are anxious about the trip.



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



<a href="https://www.usatoday.com/story/news/nation/2025/04/12/blue-origin-spaceflights-new-shepard-rocket/83007319007/" rel="noreferrer noopener" target="_blank">11 minutes with a window view of Earth: What to know about Blue Origin spaceflights</a>&nbsp;(USA TODAY)



<a href="https://www.nytimes.com/2021/10/13/science/space/blue-origin-ticket-cost.html" rel="noreferrer noopener" target="_blank">How much does a ticket to space on New Shepard cost? Blue Origin isn’t saying.</a>&nbsp;(New York Times)

11th Breakthrough Prize Ceremony – Arrivals

Katy Perry And Gayle King Head To Space Today: Why They’re Going And How To Watch

Over the past decade, Mauritania has emerged as a region known for its octopus fishery. Can this African desert country, with only 0.5% of arable land and extensive mineral resources, continue to cash in on its coast?



On The extreme northwest corner of the African continent, two nations famous for their arid terrain—Mauritania and Morocco—are enjoying a high tide, thanks to booming prices for their primary oceanic export: octopus. After several down years, following the 2020-21 Covid-19 pandemic, both countries are seeing strong demand for catches of Octopus vulgaris, a species that thrives across a combined 3,000km of Atlantic coastline.



For the Islamic Republic of Mauritania, the nation’s official name, that zone stretches out along a shallow continental shelf whose temperatures and salinity are among the best on earth for the eight-armed Cephalopod, which belongs to a family of seafood varieties that include squid, cuttlefish and nautiluses, and whose market prices also are climbing since last summer.



According to a report from trade publication Seafood Media, from August 2024, Mauritania’s octopus prices have skyrocketed by around $500 per ton since the 2024-2025 season opened, with prices for Morocco only slightly behind.



Merchants like Liman Beirouk of Beirouk Fish Trading, a Mauritanian vendor, are savoring the moment.



“Last summer, during the France Olympics, raw octopus was getting almost €15 [$16.18] per kilo at the dock,” he told FORBES AFRICA earlier this month, adding, “we were sell- ing it for twice that amount in Paris”.



Those prices have held up throughout the winter, where weeks of stormy weather kept catches low, effectively raising prices for whatever fishing crews managed to bring to shore. So brisk has the demand been, Beirouk says, that it even made sense to ship frozen octopus by truck, a two-day journey from Africa, costing €6,000 ($6,492) per truckload. Indeed, these are heady times for one of Africa’s least developed countries.



Over the past decade, the country has emerged as a power in the octopus world, thanks not only to Mauritania’s proximity to markets across North Africa and Europe, but also to a special relationship with consumers in Japan, whose fishing expertise propelled Mauritania’s rise among octopus exporters worldwide.



As per Fortune Business Insights, the global seafood market size stood at around $386.73 billion in 2024. According to additional reports, Africa claims less than 5% of this. Yet within that small portion, Mauritania is a giant.



“Fishing now is number one for Mauritania in terms of foreign exchange and employment,” says Isselmou Hmeida, Commercial Director of the Federación Mauritanie des Pêches, the country’s seafood marketing arm.



“Within the industry,” he says, “number one is octopus”.



The country’s rise in octopus fish- ing began around the 1970s, with the Japanese, who were depleting their traditional stock around the island of Hokkaido. They responded by send- ing teams to Africa to teach Japanese harvest techniques to the locals, dropping pots to the ocean floor and trapping octopus much like lobsters.



By the turn of the new century, Mauritania was emerg- ing as an octopus fishery. According to researchers, Assane Dedah Fall and Berchie Asiedu, from 14,000 metric tons in 2006, octopus landings nearly tripled to over 33,000 by 2018. The following year, in 2019, the country’s catch nearly dou- bled, to a record 55,000 tons.



SeaBOS further calculates some 65,000 Mauritanians to- day are actively involved in octopus’ procurement, with an estimated 200,000 more joining the octopus supply chain. Out of a population of just over five million, about one of ev- ery 20 Mauritanians somehow makes a livelihood from the octopus catch.



Yet today, with the world growing hungrier for its catch, Mauritania faces several dilemmas. For one: who should be al- lowed to catch the Octopus vulgaris, and in what quantities? For another: whose needs come first: the fish or the fishermen?



These are not hypothetical concerns. Countries like Mauritania that discover riches just offshore could also find that the temptation to over-produce soon threatens their capacity to produce at all. “For some years now, the octopus fishery has been show- ing signs of depletion as a result of increasing fishing pressure and high levels of exploitation,” Fall and Asiedu concluded in 2024.



“Landings and yields appear to be declining. There are concerns about the sustainability of the octopus stock.”



So, although prices for octopus today are high, an uncertain future looms.



Signs of Mauritania’s decline already can be seen as far away as Japan. “Mauritania is considered number one qual- ity in Japan,” says Eiki Shimizu, CEO of Shimizu Shoten Co. Ltd a fishery product processing business.



“But it’s getting hard to get. More people are demanding more octopus. Prices are going up.” Shimizu says he’s beginning to look for alternatives from South Korea and elsewhere. “Now the supply from Mauritania is changing,” Shimizu tells FORBES AFRICA. “They used to sell us 90% of the catch. Now it’s more like 40%.”



Over-fishing, many claim, has resulted in harvests of smaller-sized fish, which command lower prices from wholesalers. For artisanal fishers, this amounts to a literal race to the bottom as more crews compete for a species that appears to be growing scarcer on West Africa’s coast.



“The majority of the octopus harvested have been smaller in size,” notes Matilde Mereghetti of the London-based industry research publication, Undercurrent News. “This scarcity of larger octopuses has intensified competition among buyers.”



Therein lies Mauritania’s dilemma: how to regulate against overfishing while still allowing Mauritanians a chance to earn a living from the sea.



Mokhtar Ba, for example, runs a company called Kossi Baye Enterprise with 200 fishermen working out of Senegal’s coastal hub of Saint-Louis, which shares land and sea borders with Mauritania. He is a dual citizen of both countries and has his own views on his country’s octopus dilemma. On the one hand, he praises Mauritania for initiating strict harvest rules and for enforcing them. On the other, he recognizes the many ways commercial fisheries can evade those rules. Moreover, Ba says, well over half the workforce hauling seafood along the coast increasingly comes from other African countries, especially Senegal and Nigeria. They are the ones most tempted to flout regulations by fishing in Mauritanian waters but sell- ing their catch elsewhere.



Yet, there are reasons for optimism.



Nicolas Guichoux, Chief Program Officer for the London-based Marine Stewardship Council, has been keeping an eye on Mauritania and holds out hope. “The good news with fishing is that it’s never too late,” he tells FORBES AF- RICA. He points to his organization’s origins, responding in the 1990s to the catastrophic collapse of codfish stocks along the Atlantic’s Grand Banks. What looked like ruin eventually turned to recovery and more sustainable fishing practices. In 2018, Mauritania received funding from a Switzerland-based NGO, the MAVA Foundation, to begin work improving coastal fisheries. The council built what it calls a “pathway project” involving 15 coastal species. Guichoux treats such initiatives as first steps, essentially building technical capacity in advance of an action plan.

Close-up of crab on rock

Tentacle Temptation: Mauritania Is Known For Its Octopus But It’s Not All Smooth Sailing

As African content continues to be ramped up globally, more creative collaborations are emerging not just in Nollywood, but East Africa too.



The African film industry is almost synonymous with Nollywood, produced out of Nigeria.



But East Africa is also playing to the gallery more so now, with its own content and collaborations.



A fact reiterated by entities such as D&amp;R Studios, which has created shows such as The Real Housewives of Nairobi, Sol Family, This Love, Being Bahati, and Young Rich, and Rushlake Media, a network that creates, develops, and scales streaming brands worldwide. The two recently announced a partnership to have more Kenyan TV content streamed internationally.



Eugene Mbugua, CEO of D&amp;R studios, tells FORBES AFRICA it is a game-changer for African storytelling, especially for Kenya. “They open doors, not just for distribution, but for collaboration, co-productions and resource sharing that can elevate the quality and reach of our content. For too long, African stories have either been overlooked or told through a foreign lens. Collaborations like this one ensures that we tell our own stories on our own terms, but with infrastructure to compete and appear globally.”



Philipp Hoffmann, founder and CEO of Rushlake Media, corroborates: “[We have always] focused on African storytelling, [for us] it was kind of an obvious thing to try and reach out and work with them.”



“The partnership gives us access to a wider distribution network, but more importantly, it positions Kenyan TV as a serious contender in the global content space.”



In its Africa Entertainment and Media Outlook 2022-2026 report, PricewaterhouseCoopers states that Kenya&#8217;s TV subscription revenue was estimated at around $420 million “recording an all-time high” in 2021. The report further says that the film and TV industry in Kenya experienced significant growth in the past two decades, with a focus on producing high-quality content that appeals to both local and international audiences with the film industry being estimated to be worth KES 5.3 billion ($49 million).



In a 2024 interview with FORBES AFRICA, Kenyan actor Sarah Hassan also agreed about the booming entertainment sector in the East African country.



“I would say the film space in Kenya has really grown. Even if you look at TV, we have a lot of different shows,” says Hassan, who has many shows and accolades under her svelte belt. “Looking at what there is, it’s a testament to the growth of the industry… We still have a long way to go, but we are moving in the right direction.”



“In an ideal world, [Kenyan] films can definitely cross into markets or to audiences which are not necessarily [just] African. This can widen the idea, the picture, the image of the African continent,” Hoffmann says. “Of course, we all know the bad stories from the continent, the cruel things [being said] and the bad things happening. But there&#8217;s so much more. There&#8217;s so much more to be seen and be discovered.”



“We&#8217;ve always believed that Kenyan stories deserve a global stage,” Mbugua adds.

Videographer, camera and man filming in studio for photography, production and media. Behind the scenes, backstage and person with stabilizing equipment on set shooting videos, documentary or film

‘Kenyan TV As A Serious Contender In The Global Content Space’

As Washington recalibrates its trade policy in a high-stakes global game, Abuja may be forced to re-evaluate its own trade approach and position in the international economy.



Nigeria will face a reduced blanket United States (U.S.) tariff of 10% until July, but its main export—oil and gas—remains unaffected, cushioning the immediate economic impact.



The U.S. announced a temporary reprieve on tariffs for most trading partners, including Nigeria, following an escalation in trade tensions marked by a steep increase in tariffs on Chinese imports.



The new measures, announced by U.S. President Donald Trump, follow weeks of speculation about an expansion of U.S. protectionist trade policies. Trump, who raised tariffs on Chinese exports to 125%, said countries that have not retaliated against U.S. tariffs—including Nigeria—will benefit from a 90-day pause and a lower, uniform 10% tariff rate. The decision signals a recalibration of America’s trade stance, particularly toward countries it does not view as economic adversaries.



Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, played down the potential impact of the new tariff regime. “Nigeria’s exports to the U.S. were N1.8 trillion, N2.6 trillion and N5.5 trillion in 2022, 2023, and 2024 respectively,” Edun reportedly said in response. “Fortunately, oil and mineral exports accounted for 92%—N5.08 trillion—while non-oil exports were just N0.44 trillion. So the tariff effect is negligible if we sustain our oil and minerals export volume.”



Nevertheless, Edun said Nigeria would revisit its 2025 budget assumptions in light of shifting global trade dynamics and domestic revenue projections.



U.S. frustration with Nigeria’s own trade practices also played a role in the decision. According to a report from the Office of the United States Trade Representative (USTR), Nigeria’s ban on 25 categories of imported goods—including agricultural products, pharmaceuticals, and beverages—has created significant barriers for American exporters. Items such as beef, pork, poultry, fruit juices, spirits, and medicaments are among those restricted, leading to lost revenue and reduced market access for U.S. businesses.



“This feels like a strategic move to influence Nigeria’s protectionist trade stance,” Nigerian economist Opeoluwa Bamiro tells FORBES AFRICA.



Corroborating the minister&#8217;s claim that the new U.S. tariffs are unlikely to affect the West African nation significantly, Bamiro notes: “Nigeria maintains a trade surplus with the U.S., not a deficit. In fact, the U.S. had a year-to-date surplus of $44 million with Nigeria in February.”

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