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Good morning from Billionaires.Africa.
Here is a brief on what we published yesterday.
Billionaire Robert Friedland's Ivanhoe Mines shipped its first copper anodes from Congo's Kamoa Kakula mine through Angola's Lobito Corridor to a German refinery — a milestone for the $5 billion rail and port project that could reshape how African minerals reach global markets. In Morocco, the royal family-controlled Attijariwafa Bank is studying a stake in French AI startup Mistral, a move that would put Moroccan banking capital inside one of Europe's most important AI companies.
Strive Masiyiwa's Cassava Technologies struck a deal with Circle Internet Group to expand USDC stablecoin use across Africa — Circle's first move on the continent. Eni's CEO Claudio Descalzi flew to Abuja and sealed a settlement on OPL 245, the Malabu oil block that had been frozen for three decades, clearing the way for up to 150,000 barrels a day. And Namibia rejected Starlink's licence application, blocking Elon Musk's satellite internet service from operating in the country.
Top Stories
Billionaire Robert Friedland's Ivanhoe ships first copper through Lobito Corridor Ivanhoe Mines shipped its first low-carbon copper anodes from Congo's Kamoa Kakula through Angola's Lobito Corridor to a German refinery — a landmark for the infrastructure project and for African mineral exports.
Eni's Descalzi unlocks one of Nigeria's most contested oil blocks after 30 years The Eni CEO traveled to Abuja to settle the OPL 245 dispute with President Tinubu, converting the block into four new licences and clearing the path for up to 150,000 bpd and potentially $10 billion in development spending.
Morocco's royal family-controlled Attijariwafa Bank eyes stake in AI startup Mistral Africa Intelligence reported that Attijariwafa is studying an investment in Mistral AI after the French startup launched a model targeting financial institutions. The bank, controlled by Al Mada, operates across 27 countries with $82 billion in assets.
Deals & Tech
Circle strikes first Africa deal with Masiyiwa's Cassava Technologies Circle Internet Group partnered with Cassava's Sasai Fintech to expand USDC stablecoin use across the continent — the newly listed US fintech's first foothold in African markets.
Elon Musk launches Terafab, a $20 billion chip factory built for space and robots Musk called Terafab the most ambitious chip-building exercise in history, with 80% of output earmarked for orbital AI computing. The factory will be jointly run by Tesla, SpaceX and xAI.
Southern Africa
Namibia rejects Starlink licence application Namibia's communications regulator denied Starlink a telecommunications licence, blocking Musk's satellite internet service from operating in the country after a public consultation process.
Motsepe's GoTyme Bank exits Pick n Pay kiosks, bets on mall hubs instead Patrice Motsepe's digital lender is pulling all kiosks from Pick n Pay stores by March 31, ending a seven-year distribution partnership as the bank pivots to dedicated mall-based Consumer Hubs for its 12 million customers.
This week's Investor Memo and Wealth Intelligence brief are available for Elite subscribers:
→ Investor Memo: Fuel-Starved Nations Flock to Dangote
→ Wealth Intelligence: Tony Elumelu — The Dealmaker Who Won't Stop Building
