• The Bill & Melinda Gates Foundation appoints a board of trustees, bringing independent and diverse perspectives to help strengthen the foundation’s governance
• The governance change comes after the death in late 2020 of Bill Gates Sr., Bill Gates’ father, an honorary co-chair, and a long-time guiding voice at the foundation
• It is also on the back of the decision by Warren Buffett last year to step down as a trustee after nearly 15 years
• It also represents an explicit recognition by Gates and French Gates, especially in the wake of their recent divorce, that the foundation will be well served by the addition of independent voices to help shape its work in the future

The Bill & Melinda Gates Foundation has appointed a board of trustees, with Strive Masiyiwa, Baroness Nemat (Minouche) Shafik, Thomas J. Tierney, and Gates Foundation CEO Mark Suzman joining co-chairs Bill Gates and Melinda French Gates …

• On average, the continent’s billionaires are worth $4.7 billion now compared to the $3.4 billion in 2014
• Aliko’s wealth has been increasing exponentially, from $10.1 billion in 2020, $12.1 billion in 2021, and 13.9 billion in 2022
• Nigerian Abdulsamad’s worth has risen from $3.1 billion in2020 to $7 billion in 2022, arguably the best performer on the list.

The African economy is not doing so well. But that does not mean so are all the people on the continent!

Aliko Dangote, a business magnate in Nigeria, has topped the 2022 Forbes list of the richest men in Africa for the eleventh consecutive time.

Despite the Coronavirus pandemic, the continent’s 18 billionaires’ combined worth is 15 per cent more than it was in 2021, standing at roughly $84.9 billion.

On average, the continent’s billionaires are worth $4.7 billion now compared to the $3.4 billion in 2014.

Soaring stock prices across sub-Saharan …

Selected ventures will also be able to attend the full event, which will include three summits as well as a variety of workshops, discussions, and networking events.

To apply, startups must be African (have at least one African co-founder or be headquartered in Africa), be less than five years old, have a minimum viable product (MVP) with traction, have raised less than $1 million in external funding, and have a current “ask.”

Startups must be able to travel to Nairobi for the summit. The deadline for applications is January 31st, and they will be reviewed on a rolling basis. …

• Somalia’s drought conditions have worsened, with experts warning that over 1 million people by April 2022 if urgent action is not taken
• The International Organization for Migration (IOM) said water scarcity is currently the worst in 40 years in some parts of the country, and boreholes and shallow wells are running dry
• Over 3.2 million people are affected, including nearly 245,000 people forced to abandon their homes in search of food, water and pasture, especially in the central and southern regions of the country
• UK’s Foreign, Commonwealth and Development Office estimated that the over 90% of the country’s population is experiencing drought conditions

A new analysis has noted that worsening drought conditions in Somalia could displace over 1 million people by April 2022 if urgent action is not taken.

On Tuesday, January 2022, the International Organization for Migration’s (IOM) said the widespread drought in the Horn of Africa has severely …

In a related story, Standard Chartered Bank has scooped the 2022 Best Trade Finance Provider in Kenya award for its trade innovation in product capabilities and stellar focus on client-centricity.

The bank was awarded for first-class services and products that aptly addressed key client challenges brought about by the pandemic.

The editorial review board of Global Finance selected the best trade finance providers based on entries from banks and other providers, as well as input from industry analysts, corporate executives, and technology experts. Criteria for choosing the winners included transaction volumes, global coverage, customer service, competitive pricing, and innovative technologies.…

Buhari said that the rice pyramids would aid efforts to reduce the price of rice in Nigeria. He expressed his expectations for other agricultural organizations to join the Central Bank of Nigeria (CBN)-funded Anchor Borrowers’ Programme (ABP) that supports Buhari’s drive for food sufficiency.

Speaking at the event Central Bank’s governor, Godwin Emefiele, said that CBN collaboration with RIFAN increased the national output of rice to over 9 million metric tonnes in 2021, up from about 5.4 metric tonnes in 2015.

Productivity per hectare of smallholder farmers has also increased from 2.4 metric tonnes to about five metric tonnes over the same period.…