🎬One less alternative

February 18, 2025

Good morning. How low would you go for $700m+? Would you dig through 25,000 cubic meters of trash? Well, British IT worker James Howells is seriously considering it. In 2013, Howells accidentally tossed a hard drive containing the key to ~7.5k bitcoins — then worth ~$7m — that he’d mined in 2009. Knowing that figure has gone way up in the years since, Howells is considering buying a landfill in Newport, South Wales, where he believes his hard drive was ultimately dumped. That’s 15,000 cubic meters of waste to dig through.

Small setback for a major comeback.

— Chu Chu Sulley, Chibuike Uzor.

CURRENCIES

Currency exchange rates against the US Dollar as of market close. Here’s what these numbers mean

HEALTH
The EU says it can’t fund Africa amidst USAID cuts

ISS Africa

While most African countries are still rallying to find alternatives to USAID funding following Trump’s cuts, the European Union yesterday, said it would offer one less alternative. According to Semafor, an EU spokesperson said the union would not be able to fill the multi-billion dollar gap created by USAID’s exit.

This is despite the EU committing $1.9 billion to humanitarian aid in 2025, with $510 million earmarked specifically for Africa.

The freeze has already shuttered services spanning from HIV clinics in Uganda to immunization programs in Nigeria. One Nairobi health official warned that millions of lives were “at stake” if quick fixes were not established soon.

How huge is the gap created by USAID’s exit?

About $11 billion huge. In Uganda, nearly two-thirds of the HIV program budget came from PEPFAR, the flagship US President’s Emergency Plan for AIDS Relief, while in 2023, Nigeria received $600 million in health assistance from the US, around 20% of its then health budget. In 2024, DR Congo received the largest amount of aid, at $1.3 billion, followed by Ethiopia and Sudan.

Some countries, however, have started to take steps to plug the void created. Last week:

  • Nigeria approved a provision of $200 million in its 2025 budget to plug gaps created by the suspension of US aid to its health sector.

  • Ghanaian President, John Mahama directed his finance minister “to take urgent steps” to bridge the estimated $156 million funding gap, voicing particular concern over malaria prevention and maternal and child health.

Time for new players? Perhaps. According to Romy Hill, who controls a consortium of donor organizations, the UK, Japan, and China could step up by converting their loans to the continent into grants. However, several countries like Canada and the UK have reduced development assistance in recent years per Semafor. -CU.

TRENDING
The Marvel Cinematic Universe is back with Avenge-ance

Filmibeat Hollywood

Marvel’s Captain America: Brave New World was a runaway No. 1 hit at the global box office over the weekend, with Walt Disney Studios expecting it to bring in $192.4 million by the start of this week. At the height of the superhero boom a few years ago, Disney pushed its Marvel assembly lines to run faster and faster. After a while, quality suffered and ticket sales declined. So, Disney slowed the pace. Last year, Marvel released one movie (the megasuccessful Deadpool & Wolverine) and two Disney+ series. To compare, in 2021, Marvel churned out four movies (with mixed results) and five Disney+ series. According to ScreenRant, Captain America: Brave New World cost $180 million to make, well below the average budget of a Marvel movie. However, Brave New World received the Marvel Cinematic Universe’s lowest-ever grade (B-minus) from ticket buyers in CinemaScore exit polls.

SHOWER THOUGHTS

“A perfectly straight road would go into space.”

NEWS
Round the continent

Joseph Kuhudzai/Getty

  • South Africa is turning to Iran and Russia for nuclear energy; a move that could further strain its ties with the United States.

  • Mauritius’ former prime minister, Pravind Jugnauth has cleared bail following his arrest on charges of money laundering.

  • Aliko Dangote has committed a $400 million investment to his cement factory in Ethiopia over the next 3 years.

  • Kabisa, an electric vehicles provider in Rwanda, rolled out new charging stations in the capital Kigali, with assets that will cut charging times from one hour to 25 minutes.

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