GOOD MORNING CHOP FAMILY!
Welcome back to the only newsletter that likes its news as spicy as its jollof.
We’ve got a big one for you today. From Egypt’s bread-making delivery giants to Rwanda basically becoming the AI laboratory of the continent, the money is moving in some very interesting directions.
Grab a malt, let’s get into it.
TRENDING TOPICS
Trump’s tariffs got the smackdown.
Global leaders and markets are responding after the U.S. Supreme Court upheld limits on presidential tariff authority, allowing President Trump to proceed with raising tariffs on a range of imported goods. Analysts say this has major implications for global trade and supply chains. This was seen as a rebuke to Trump’s tactics, but we expect to see him pivot in other areas.
BUSINESS
🌍 The Big Chop
Egypt’s grocery delivery heavyweight, Breadfast, just secured a $50 million pre-Series C. While most delivery apps are bleeding cash, Breadfast is leaning into its vertical integration model.
They aren’t just the middleman; they are making the bread, literally. With private labels making up 40% of their sales, they are eyeing an H1 2026 expansion into West Africa. If you see a Breadfast bike in Lagos soon, don't say we didn't warn you.
Breadfast raised $50 million in a pre-Series C round with key investors for expansion and infrastructure scaling.
Founded in 2017, Breadfast started as a bread delivery service and now offers a wide range of products across Egypt.
The company aims to capture 3% of Egypt's $100 billion grocery market within 3 years, with plans for a full Series C funding round in 2026.
Nigeria’s Palm Oil Power Move
Nigeria just hit a five-year high in palm oil production, churning out 1.57 million tonnes in 2025. They are officially trying to reclaim the "GOAT" status in the global market.
The Council of Palm Oil Producing Countries (CPOPC) was just in Abuja promoting their ambitious plans.
Potential snags -Nigeria is still eating way more than they grow, leaving a 1 million tonne gap that costs $600 million in imports every year.
The mission now is helping smallholder farmers ditch the old ways for high-tech tools to close that gap.
FINANCE
The "Japan-Nigeria" Bridge
The Nigerian government and Japan (via JICA) just unveiled a $50 million fund specifically for startups. It’s an interesting move because it’s focused on "impact innovation," basically, startups solving real-world social problems rather than just building another fintech app for people who already have five bank accounts.
Under the arrangement, JICA will provide $14 million in grant support, while NSIA will contribute up to $20 million to match the grant as part of the $50 million Impact Innovation Fund.
“The Fund represents a transformative step for Nigeria’s startup ecosystem. By providing early-stage ventures in high-impact sectors with the capital and support they need to grow, we are enabling innovators to tackle some of Nigeria’s most pressing challenges.”
TECH
Rwanda’s AI Leapfrog
Kigali is moving fast. Rwanda just signed a landmark three-year deal with Anthropic (the AI company behind Claude). It’s not the typical, "we have an office here" deal; it’s a multi-sector partnership to bake AI into health and education. While other regions are still debating the ethics of AI, Rwanda is saying, "We’ll figure that out while we’re building."
The deal focuses on three main areas:
Accelerating Rwanda’s Health Care Goals to eliminate cervical cancer and malaria maternal mortality, to name a few.
Helping local developers to train on Cluade code and offer training and development.
Enhancing educational efforts to enhance literacy and improve the educational model in the country.
Rwanda seems to be leading the continent in AI adoption, or at least they are making serious efforts to embrace AI and not try to slow the inevitable down.
QUICK BITES
Lesotho’s Starlink Moment: South Africa is watching closely as Lesotho embraces Starlink. It’s a major wake-up call for SA’s connectivity regulations.
South Africa’s AI Fund: One of SA’s richest women, Magda Wierzycka, is launching a dedicated AI startup fund tomorrow. The smart money is heading south.
J. Cole is Heading to Jozi: Mastercard is leveraging a major "passion point" by bringing J. Cole to FNB Stadium in Johannesburg this December. This is his first return to the region in nearly a decade.
DISH OF THE DAY
Banga Soup
Banga soup, also known as Palm Nut soup, is a tasty, nutritious dish popular in the Niger Delta region. It is made from the pulp of palm nuts and is simmered with spices, fish, and meats, creating a rich, nutty, and hearty meal that is served with starches such as fufu, or rice. It hits that spot every time!
DID YOU KNOW? The ancient Egyptians were so serious about their bread that it was used as currency. Laborers were often paid in loaves of sourdough and beer.
