Africa grows plenty of cotton. It just does not make much of it into clothes. A new $5 billion plan aims to change that, turning a scattered collection of cotton producers into a regional textile industry. The road out of Koudougou in Burkina Faso is lined with cotton fields that stretch toward the horizon, broken only by…
SK Hynix has announced a 54 trillion Korean won ($38.1 billion) investment to construct two new semiconductor manufacturing facilities in South Korea. As the world’s second-largest memory manufacturer behind Samsung, the company is expanding capacity to address severe supply constraints driven by the global AI data centre boom. Production in the first facility’s cleanroom is…
By Ayodeji Adegboyega | Business Insider Africa ZIMBABWE approved US$1.59 billion worth of new investment projects in the second quarter of 2026, with mining and manufacturing absorbing nearly 80% of the proposed capital as the southern African country intensifies its push to build an industrial economy around its vast mineral resources. The Zimbabwe Investment and…
Humanoid, a UK-based AI and robotics company building industrial humanoid robots, announced a $152 million Series A financing at a $1.35 billion post-money valuation. This funding brings the total amount raised to date to $270 million. The round was led by Prime Movers Lab, a venture capital firm focused on investments in breakthrough scientific startups…
Dangote Petroleum Refinery has raised about $2.5 billion through a private equity placement that was oversubscribed by 3.7 times, with the proceeds to fund expansion and strengthen its capital structure. Dangote Petroleum Refinery and Petrochemicals has raised approximately $2.5 billion in fresh equity after successfully concluding a private placement that was 3.7 times oversubscribed, the…
Luanda — The African Union (AU)’s Director of Blue Economy and Sustainable Environment, Hersen Nyambe, stated on Wednesday (22,) in Luanda, that the continent’s blue economy currently generates over 298 billion dollars in annual value, with projections pointing to USD 405 billion output by 2063. Presenting the “State of Africa’s Blue Economy 2026 Report” during…
Rodrigo Liang, Co-founder & CEO, SambaNova Systems, on the AI Summit stage during day two of Web Summit Vancouver 2026 at Vancouver Convention Centre in Vancouver, Canada. Shauna Clinton | Sportsfile | Getty Images An AI chip startup has raised $1 billion in financing as investors continue to pour money into companies looking to challenge…
United Nations — A new assessment from the United Nations Development Programme (UNDP) warns that the Ebola outbreak could cost Africa USD 3.6 billion, push 985,000 people into poverty, and put 300,000 jobs at risk. The new analysis shows that the damage extends well beyond just those infected, disproportionately harming vulnerable populations and creating trade…
The Court of Justice of the European Union (CJEU), Europe’s highest court of appeal, has definitively upheld a record-setting €4.1 billion ($4.67 billion) antitrust fine against Google and its parent company, Alphabet. The ruling officially dismisses Google’s final appeal and solidifies the penalty originally levied in 2018 for anti-competitive practices surrounding its Android operating system….
In the modern private spaceflight sector, launching rockets is no longer enough, aerospace firms increasingly need to own the payloads they carry. Rocket Lab has announced a massive $8 billion acquisition of Iridium Communications in a direct bid to secure the infrastructure needed to compete with SpaceX’s rapidly expanding Starlink network. Subject to regulatory approvals,…
