JUNE 2023
Hello friends,
May 25 was Africa Day! It marked the 60th anniversary of the establishment of the Organization of African Unity (OAU) which later became the African Union (AU). On this year’s Africa Day, the AU restated its commitment to its main flagship project, Agenda 2063, which advances seven Development Aspirations to deliver transformative outcomes on the continent by 2063.
Our Chart of the Month illustrates the sectoral distribution of Africa's tech startup financing. According to Disrupt Africa, fintech continues to be the leading destination in Africa's startup landscape, accounting for a 32% share. Other sectors beyond fintech—such as entertainment, marketing, transport, recruitment and Agri-Tech, as well as e-commerce and health—saw unprecedented growth in funding compared to previous years.
Carnegie Africa scholar Jane Munga recently outlined three actionable proposals for the United States' effective implementation of its new Digital Transformation with Africa (DTA) Initiative. DTA was launched by the White House in December at the U.S.-Africa Leaders Summit. In a new piece, Munga encourages the U.S. to work toward closing Africa’s digital divide, supporting African innovators, and eliminating trade barriers.
The Africa Program was just in Abuja, Nigeria, where we hosted a policy discussion in partnership with Agora Policy on how Nigeria can build a post-oil economy. The gathering brought together over 300 policymakers, entrepreneurs, diplomats, and members of civil society and featured prominent speakers from the outgoing and incoming administration. I presented highlights from my book Economic Diversification of Nigeria: The Politics of Building a Post-Oil Economy. If you missed it live, be sure to watch the event recording now.
Bola Ahmed Tinubu was sworn in as Nigeria’s president on May 29, with a U.S. presidential delegation in attendance. In the latest installment of our Pivotal Elections in Africa series, Elor Nkereuwem explains why women haven't been successful in Nigerian elections. Give it a read!
South Africa’s relationship with the U.S. is being tested by the former’s continued ties to Russia. A key question straining this relationship is whether Russia’s president Vladimir Putin will travel to South Africa in person for the BRICS Summit in August 2023. In an April paper, Ronak Gopaldas examines how the war in Ukraine will change Russia-Africa relations. Read more here.
As always, sign up for our newsletter and share within your network.
Sincerely,
Zainab Usman
Director, Carnegie Africa Program
CHART OF THE MONTH
June 2023 Chart of the Month
FEATURES
Women’s representation in political offices continued to decline in the 2023 elections. Four main factors help explain why Africa’s largest economy is such a difficult space for women candidates. Elor Nkereuwem
Russia’s influence in Africa is likely to be diminished by any outcome of the war in Ukraine. And Western governments will need to take Africa into their confidence regarding geopolitical matters rather than berate the sovereign stances of countries that feel unseen and neglected by them. Ronak Gopaldas
The United States’ new digital initiative with Africa is timely and promising, but its vast potential will go unrealized if its mission isn’t translated into targeted action. These three proposals could help. Jane Munga
Revisit the Carnegie Endowment for International Peace and Agora Policy economic symposium held in Abuja, Nigeria. Leading experts, policymakers, and business leaders gathered in Abuja for the event, which encompassed a high-level policy conversation and presentation by Carnegie Africa director Zainab Usman’s recently published book.
DEVELOPMENTS ON OUR RADAR
- The Two Defining Challenges Facing South Africa. [African Arguments]
- Export-Import Bank of the United States Approves More Than $900M for Solar Energy Project in Angola. [Export-Import Bank]
- Felix Tshisekedi Visits China to Renegotiate Mining Contracts. [Africa News]
- Chinese Battery Company Gotion Poised to Build Africa’s First Gigafactory in Morocco. [Morocco World News]