Hello there,
We have an announcement for you. We’ll be taking some time off writing this newsletter. Unlike other previous breaks, this is an indefinite break. Do not panic, we'll be back and better.
Two are better than one
What’s better than one good news? Two!
This week Google and Facebook made announcements about their efforts to invest in Africa.
Tell me more
Google plans to invest $1 billion in Africa over the next 5 years, a part of which will be used to provide finances to small businesses and startups in Africa. Which consists of funding starting with $50 million in "equity-based financing".
Equity-based what?
Basically, it's an investment fund for small businesses that need loans, it’s partnering with a non-profit organisation Kiva to provide $10 million in low-interest loans to them.
Zoom out: Over the last three years, Google has helped more than 80 African startups with equity-free finance and workspace through its Google for Startups accelerator programme
Staying connected
In addition to financing businesses, it lowers internet connectivity costs through its underground subsea cable dubbed 'Equiano'. This would run through South Africa, Nigeria, Namibia and St Helena, connecting Africa with Europe.
Closely related to this, Facebook, which has had such a bumpy week, also unveiled a similar plan to provide internet through its 24-fibre transatlantic cable that connects Africa to Europe.
Looking forward: Since talent is equally distributed but opportunity is not, the provision of additional funding and internet access would help level the playing field for African businesses.
The wait is over
After 30 years of research and development, there’s a vaccine for malaria.
That’s good news
Yes, it is. The vaccine was developed by British drug manufacturer GlaxoSmithKline in collaboration with Seattle-based health nonprofit PATH and a network of African research centers, with partial funding from the Bill and Melinda Gates Foundation.
Why it matters: Despite the fact that you can easily get a malaria drug in a nearby drugstore, malaria is the leading cause of death and illnesses in children under the age of five in sub-Saharan Africa. There are 409,000 deaths annually, and more than 260,000 of them are children under the age of five annually, according to the WHO.
Progress status: Pilot programs are being carried out in three African countries: Ghana, Kenya and Malawi. At the moment, more than 800,000 children have received the pilot vaccine through clinics, according to the WHO.
COVID Vaccine, why take so long?
Well, let’s just say the malaria parasite is pretty clever, it has different ways of surviving and infecting humans.
How effective is it?
Clinical trials have concluded that the vaccine offers 39% protection against malaria in newborn children between the ages of five and 17 months. Further research also suggests that the vaccine's benefits fade over time.
Clearly not the most effective version of a malaria vaccine but at least it's a positive step forward.
Worth reading 📚
What to do about the envy we’re all quietly dying inside from inside
Netflix's Africa play: Mo Abudu, free access and local partners
From hawking dry fish to coding at Bloomberg: the story of a Nigerian first class graduate
Abdulrazak Gurnah, first Tanzanian to win the Nobel literature prize
Quote 💭
“Don’t be afraid to disappear…and see what comes to you in the silence”
Michaela Cole
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