🔅 Botswana Gets a Win in Diamond Deal, Adjaye's NYC Skyscraper Takes Shape, And Much More
Plus, The Netherlands Apologizes for Colonialism & a Life-Saving Solution for Postpartum Haemorrhage
Photo of the day: Lalibela, Ethiopia
Markets:
🟢 Nigerian SE: 61,948.99 (+1.61%)
🟢 Johannesburg SE: 76,027.83 (+0.26%)
🟢 Ghana SE: 2,808.03 (+0.13%)
🟢 Nairobi SE: 107.79 (+0.74%)
🟢 US S&P 500: 4,454.92 (+0.10%)
🟢 Shanghai Composite: 3,243.98 (+1.31%)
Apple’s Milestone: A Market Cap of $3 Trillion | Apple's stock closed last week at an all-time high—a market cap of $3 trillion. That's right, Apple is the only company to ever hit that milestone, and it's the first time they closed there. The tech giant's success was also reflected in the Nasdaq index, which had its best first half of the year in 40 years. That's enough to make anyone feel like a million bucks—or, you know, $3 trillion bucks.
*Data accurate as of the close of markets across the continent
Brief & Bright: Africa's Top Five Highlights
🇧🇼 Diamonds are Forever: Botswana Gets a Bigger Piece of the Pie | Diamonds may be forever, but they’re not for everyone—at least not until now. After a two-year negotiation, Botswana and De Beers Group have come to an agreement that will see the African nation getting a bigger share of the rough stones. The new 10-year sales deal will give Botswana a 30% cut of Debswana's output, increasing to 50% in the final year of the contract. To sweeten the deal, De Beers will also be contributing 1 billion pula ($75 million) to a diamond fund that will invest in additional value for the Botswana economy. Botswana President Mokgweetsi Masisi, who has been pushing for a bigger share of Debswana's output, had threatened to sever ties with the mining company if the government's concerns weren't reflected in the new deal that has been in negotiation since 2018. Looks like Botswana's mining future is looking bright.
🇬🇭 Adjaye's Latest: A Scraping the Sky | Ghanain-British architect, David Adjaye, has made his mark on Manhattan’s skyline with his latest skyscraper, 130 William. This 66-story tall structure is Adjaye’s first skyscraper, and it’s a beauty. The building’s facade is clad with hand-troweled concrete panels that are similar to volcanic stone, with arched windows inspired by industrial architecture common to NYC’s waterfront. Adjaye has also created a pocket park at street level for residents and the public to enjoy. The building also has 242 luxury residences and amenities, including a pool, spa, basketball court, and IMAX theatre. The interiors of the apartments have light-colored interiors to contrast the dark tones of the facade and public areas. The building’s facade panels were made in Canada and shipped to the city via trucks, and the building is almost completely sold and occupied.
🌍 The Netherlands' King Apologises for Its Role in Slavery | The King of the Netherlands, Willem-Alexander, has apologised and asked for forgiveness over the country’s involvement in slavery. He made the statement during an event to commemorate the 160th anniversary of the abolition of slavery in the Netherlands and its former colonies. This comes as part of a wider reckoning with colonial histories in the West spurred by the Black Lives Matter movement. Speaking at the national slavery monument in Amsterdam’s Oosterpark, Willem-Alexander admitted that racism in Dutch society remains a problem, but said “the chains have truly been broken.” The Prime Minister of the Netherlands, Mark Rutte, had made a similar apology back in December 2022.
🌍 A Finnish Politician & Racially Charged Comments About Africans | It was a short stint in office for Finland’s new minister for economic affairs, Vilhelm Junnila. He lasted only a week before resigning after coming under fire for some pretty questionable comments and behaviour. It all started when he made a speech in Parliament suggesting a solution for the climate crisis was to give more abortions to African women. He called it “climate abortion”. Even the staunchly pro-life Christian Democrat MP Päivi Räsänen—who is usually on the side of the right-wing—said the concept was “eco-fascist”.
🏥 A Life-Saving Solution for Postpartum Haemorrhage | Maternal mortality due to postpartum haemorrhage (PPH) is an epidemic. It's the leading cause of maternal death worldwide, claiming the lives of an estimated 70,000 women a year—or one death every 6 minutes. But now, a landmark study from the World Health Organization and the University of Birmingham has found a new solution to the problem: E-MOTIVE. The package includes early and accurate detection of PPH using a blood-collection drape, plus an immediate treatment bundle—including uterine massage, medicines, and intravenous fluids—that should be given all at once instead of sequentially. According to the trial, which involved over 200,000 women in four countries, the intervention led to a dramatic reduction in severe bleeding and deaths. Plus, it reduces the need for blood transfusions—which is especially important in low-income countries where blood is a scarce and expensive resource. The recommended E-MOTIVE package can be administered by midwives, making it an affordable and accessible solution.
Food for Thought
“The day before yesterday and yesterday aren't the same as today.”
— Kenyan Proverb.
Are we hitting the mark?
Enjoying Baobab's updates? Spread the joy and share us with friends and colleagues — we'd be thrilled to have them join!
Feedback or thoughts? Just hit reply. We're all ears!