US-based mining startup, KoBold Metals, to invest $150m in Mingomba copper-cobalt mine, a Zambian project

Kalimera,

The United States has signed a Memorandum of Understanding (MoU) with the Democratic Republic of the Congo and Zambia to assistance them successful processing an electrical conveyance (EV) worth chain, which includes providing components utilized successful their assembly.

In April 2022, the 2 countries signed a historical practice agreement to facilitate the improvement of the worth concatenation successful the electrical artillery and cleanable vigor sectors.

That statement “opens the doorway for US and like-minded concern to support much worth added successful Africa.”

It’s the weekend. Enjoy! Cheers! 🥂

Here’s what I’ve got for you today: 

• Klasha’s bold menstrual permission policy
• KoBold Metals to put $150 cardinal successful a Zambian project
• Elon Musk sells $3.5B worthy of Tesla stock
• Telecoming partners with MTN Group 

Klasha’s bold menstrual permission policy

Would you similar to person a 5-day menstrual permission each period arsenic a woman? Males!! Get successful here; I’d emotion to perceive your thoughts.

I chuckled erstwhile I saw the quality that Klasha, an Africa-focused eCommerce startup, had introduced a menstrual permission argumentation to supply employees with self-care opportunities during their menstrual cycles.

Personally, I don’t find it indispensable due to the fact that I don’t privation immoderate organisation — enactment oregon not — to way my menstrual cycle. 😂 

Don’t get maine wrong: the thought is good. After giving it immoderate thought, I deliberation a time disconnected would beryllium preferable due to the fact that the archetypal time is usually the astir painful. Or perhaps, employees tin enactment from location portion connected their period.

Klasha said the five-day permission is successful summation to the statutory annual, sick, and different leaves to which employees are entitled.

So, bash you inactive deliberation a 5-day monthly permission is simply a bully idea? I don’t deliberation taking 5 moving days disconnected each period benefits immoderate startup. 

What are your thoughts? (Please, don’t aerial me. 😃 I’ve shared my thoughts. As usual, click the reply fastener to reply.)

Jessica Anuna founded Klasha successful 2017 and officially launched it successful 2021 to supply products to enactment cross-border African commerce.

As stated successful the startup’s plan, implementing this argumentation volition beforehand inclusiveness for pistillate employees, promote workplace diversity, and debunk myths astir menstruation.

While this argumentation has received some praise and criticism, determination is much to it than meets the oculus regarding violation, inclusion, and productivity. 

You tin work the communicative here: Klasha’s bold menstrual permission policy: A measurement guardant oregon a measurement excessively far?

KoBold Metals to put $150 cardinal successful a Zambian project

US-based mining startup, KoBold Metals, volition put $150 cardinal successful a Zambian project, Mingomba copper-cobalt mine, that volition usage artificial quality (AI) to hunt for copper.

The excavation is said to beryllium the world’s highest-grade undeveloped ample orangish metallic deposit. 

KoBold’s investors see Breakthrough Energy Ventures — a clime and exertion money founded by Microsoft’s Bill Gates — Amazon’s Jeff Bezos and Virgin’s Richard Branson.

The woody comes arsenic the US seeks to trim its reliance connected China by processing home electrical conveyance artillery manufacturing and looking to Africa arsenic an alternate root of artillery metals. Remember my intro?

Zambian President, Hakainde Hichilema, hopes to summation copper accumulation to 3 cardinal tonnes per twelvemonth by 2032, up from astir 850,000 tonnes now. Zambia is heavy reliant connected mining arsenic Africa’s second-largest copper producer.

Founded successful 2018 by Kurt House, KoBold Metals is simply a California-based exploration startup that uses artificial quality and instrumentality learning to place artillery metallic deposits.

KoBold is investing successful a associated task with the project’s existent owners, Australian backstage equity steadfast EMR Capital and Zambia’s state-owned mining concern vehicle.

The startup volition usage its AI exertion to process drilling information and optimise exploration for copper and cobalt astatine Mingomba.

Mingomba contains 247 cardinal tonnes of ore with an mean people of 3.64% copper. KoBold claims the numbers correspond astir six times higher grades than those recovered successful Chile, the world’s apical copper-producing nation. 

The concern transaction is expected to beryllium completed successful the archetypal 4th of 2023.

Elon Musk sells $3.5B worthy of Tesla stock

According to Bloomberg’s database of billionaires, Elon Musk is nary longer the world’s richest man.

Why? Between Monday and Wednesday, helium sold implicit 20 cardinal shares of Tesla banal for astir $3.5 billion. This is the 4th clip he’d beryllium selling his banal successful 2022.

The merchantability came arsenic Tesla investors expressed concern astir Musk’s engagement with Twitter being detrimental to the car company.

Remember that Musk attempted to backmost retired of the Twitter woody for months but was unsuccessful. To money the purchase, helium sold much than $15 cardinal successful Tesla stock, archetypal astir $8.5 cardinal successful April and past different $6.9 cardinal successful August.

After declaring that helium was done selling, helium unloaded different $3.95 cardinal of his involvement successful November.

As portion of the deal, Twitter took connected $13 cardinal successful debt, including astir $3 cardinal successful unsecured debt, with an involvement complaint of 11.75%.

Twitter present faces yearly involvement payments of astir $1.2 billion, which could go adjacent much costly fixed that involvement rates connected indebtedness are rising.

Back to Musk’s decision: Investors said the merchantability did not look planned, and it is unclear whether helium has finished selling. 

However, analysts said that Musk has until Friday to merchantability much banal earlier Tesla enters a quiet period for the extremity of the quarter. 

Telecoming partners with MTN Group 

Telecoming, an planetary institution specialising successful athletics and amusement monetisation technologies, has partnered with MTN Group to monetise its sports connection successful 21 countries. 

Telecoming volition motorboat authoritative shot services successful each the countries wherever MTN is present, reaching implicit 280 cardinal African users.

The institution volition besides participate countries wherever it antecedently had nary beingness and exploit caller connections.

This is Telecoming’s 2nd main planetary statement with a telco group, pursuing a akin concern successful 2019 for the organisation and monetisation of amusement and sports services. 

Telecoming, founded successful 2008, specialises successful processing and distributing mobile experiences for sports and entertainment. In collaboration with telcos, it has been deploying monetisation technologies.

In lawsuit you missed it

• Kenya-based healthtech startup, MyHealth Africa, has closed a $1 cardinal seed to grow its beingness successful Africa
• Egyptian startup, Suplyd has raised $1.6 million to assistance businesses successful the nutrient services manufacture get products online
• Pan-African early-stage VC firm, Ventures Platform, closes its money astatine $46 million to summation its absorption connected “category-leading” companies successful Africa
• 9 African startups postgraduate from Techstars Toronto 2022 Winter cohort, arsenic its Africa portfolio reaches 29

What I’m speechmaking and watching

• Coinbase launches plus betterment tool for unsupported Ethereum-based tokens
• Microsoft to start multi-year rollout of EU information localization offering connected January 1
• PayPal and MetaMask squad up to marque it easier to bargain crypto
• Were We Wrong About The Last Common Ancestor?
• Why Optimism Makes Us Sad| Are We Better Off Being Pessimists?
• The Multiverse is real. Just not successful the mode you deliberation it is. 

Opportunities

• Applications are unfastened for the Tech Women Emerging Leaders Programme Fall 2023. Apply here.
• Applications for the Elites Digital Marketing Training & Recruitment 2023 are present open. Apply here.
• Applications are unfastened for the Hostwriter Story Prize 2023. It highlights exemplary works of journalistic collaboration. Apply here.
• Startups successful Kenya and Tanzania tin get a accidental to standard their impact-driven companies and person a assistance concern of up to €100K from the develoPPP Ventures. Apply here.
• Applications are unfastened for Explore Africa Writing Contest 2022, a task to beforehand question accusation and tourism connected the continent. Apply here.

Have a amusive weekend.

Victoria Fakiya for Techpoint Africa