Malawi’s Constitutional Court overturned
last year’s presidential vote with a 500-page ruling that said Peter Mutharika’s re-election was rigged so blatantly it included the use of correction fluid.
Trouble Down South
A South African court ordered the arrest
of former President Jacob Zuma after he failed to show up for a corruption trial. His lawyers have until May 6 to prove that the deposed ex-leader is too ill to attend. The rescheduled hearing will examine 16 charges, including corruption and racketeering dating back to the 1990s.
Boost For African Venture Capital
Venture capital firm TLCom has raised $71m for its TIDE Africa fund, comfortably beating the $50m it raised in 2019.
Over the next eighteen months, the firm aims to invest in 12 startups in the continent’s major markets with an eye on infrastructure-focused startups. Africa’s infrastructure needs are between $130 and $170 billion per year according to the African Development Bank’s estimates. However, the current deficit in financing
is between $68 billion and $108 billion per year.
The TIDE fund is TLCom’s initiative for the African technology environment.
Coke, Not the Cola