GOOD MORNING CHOP FAMILY!
Wake up peeps. We got more chop for you. Lots of stuff is happening, so get in the know… Have a great day!
TRENDING TOPICS
The Two-Week Reprieve
The news the entire world has been waiting for finally broke late last night: the U.S. and Iran have agreed to a two-week ceasefire.
Mediated by Pakistan, the deal narrowly averted a massive escalation just hours before a critical deadline. As part of the truce, Iran has agreed to reopen the strategic Strait of Hormuz for commercial shipping—a move that is already sending a wave of relief through global energy markets.
While the pause is temporary and "Operation Epic Fury" has left deep scars, diplomatic delegations are already heading to Islamabad for formal talks.
It’s a fragile, narrow window for peace, but there are still reports of skirmishes happening, and Israel is still pummeling Lebanon, because they claim that was not part of the deal.
Ugh, what a mess.
African Proverb of the Day
"A small house will hold a hundred friends." (Namibia)
MARKET MOVES
BUSINESS
Radisson’s 100-Hotel Milestone
The hospitality sector is heating up, and I hope you read our story last week about Marriott expanding into Cape Verde.
Not to be outdone, Radisson Hotel Group said “hold my Guinness” and officially surpassed 100 hotels in Africa this week.
They are accelerating their "2030 Growth Ambition," betting big on the continent’s long-term business and tourism rebound.
In the last twelve months, more than 2500 rooms have been added, and the big markets are still Morocco, South Africa, and Nigeria, but they are also pushing into secondary cities.
Read about Radisson's expansion
Africa’s $4.4 Trillion Secret
A landmark report from the Africa Finance Corporation (AFC) has identified over $4.4 trillion in investable domestic capital sitting in African pension funds, insurance, and sovereign wealth.
It is getting clearer that Africa has the internal resources to fund its own infrastructure. But does it have the internal will and governance to follow through?
The challenge now is moving that money out of low-yield government bonds and into the private sector so that the steel and power projects can build the cities of tomorrow.
FINANCE & MARKETS
Flutterwave’s Banking Era
It’s official: Flutterwave has secured a national microfinance banking license from the Central Bank of Nigeria.
This shift will enable direct lending and deposit-taking; they are moving to use their own balance sheet to fund SME credit.
This move, combined with their recent tech acquisitions, suggests they are building a credit-scoring machine that traditional lenders can't match.
In the era of “fintech fatigue,” if I were a betting man, I would certainly put my bread on Flutterwave, since they are the unicorn that all other providers are trying to catch.
TECH
The EV Surge vs. The Flawed Redress
South Africa is seeing a massive spike in EV interest as fuel prices remain high, but the financial backing is getting complicated.
FirstRand has announced a major divestment from its UK holdings following a multi-billion-dollar hit from a flawed motor finance redress scheme.
This move highlights a broader trend: African banks are "trimming the fat" abroad to double down on homegrown opportunities such as green mobility and localized AI infrastructure.
Agentic AI in Customs
A new push in trade tech is introducing "Agentic AI"—artificial intelligence that doesn't just suggest actions but actually carries them out.
In the world of customs and border control, these agents are being trained to handle complex documentation and compliance autonomously, potentially cutting the "clearing time" for goods in half across the continent.
Will they take bribes, though? 😁
⚡ Quick Bites ⚡
Ancient Pyres in Malawi: Archaeologists have identified the oldest known adult cremation pyre in the world near Mount Hora. Dating back 9,500 years, the find suggests that prehistoric hunter-gatherer societies had much more complex ritual lives than we ever imagined. Link
Libya’s Submerged Port: A Polish-Libyan team has discovered a 300-foot stretch of shipwrecks off the coast of Ptolemais. The site includes ancient roads and columns now underwater due to coastal erosion and rising sea levels. Link
Creative Grants: EUNIC has launched a $54,000 grant call for cultural projects in Sub-Saharan Africa. If you’re in the creative industries, the deadline is June 21—get those applications in! Link
🌍 What Else is Cooking? 🍳
Egypt's Macaque Pets: Excavations in Egypt recently uncovered ancient monkey burials where the macaques were buried with their own "pets"—piglets and kittens. Even thousands of years ago, it seems everyone wanted a furry friend.
AI Traffic Cams: South Africa is piloting AI-integrated traffic cameras that can automatically detect and fine complex violations, shifting the burden from human officers to algorithms.
The Return of the Vinyl: For the first time in decades, vinyl record sales have outpaced CD sales globally. It seems everyone is craving something tangible in our digital-first world.
Dish of the Day 🥘
Vitumbuwa (Zambia/Malawi)
Since we’re talking about the deep history of Malawi and Zambia today, you have to try Vitumbuwa. These are golden, fluffy, deep-fried dough balls. They are slightly sweet, often scented with a hint of nutmeg or vanilla, and best enjoyed piping hot with a cup of strong tea. They are the ultimate "morning fuel" at local markets.
Yall can’t fool me, these are just puff puff with a different name! Still good though!
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